President Donald Trump on Friday said he is "taking away" Harvard's tax exempt status.

"It's what they deserve,” he said in a Truth Social post.

The decision will likely face legal challenges.

Harvard’s president has said revoking the university's tax-exempt status would be unlawful and endanger "our ability to carry out our educational mission."

Trump previously called for Harvard to lose its tax exempt status after the university said it would not comply with the administration's series of demands, including actions on antisemitism and the use of DEI on campus.

The administration has also frozen more than $2.2 billion in federal funding to Harvard.

This is a developing story. Please check back for updates.