In a significant move against anti-Semitism at the University of Pennsylvania, Ross Stevens, CEO of Stone Ridge Asset Management and a Penn alum, has withdrawn a whopping $100 million donation.
This decision highlights the ongoing issue of how top universities, like Penn, are dealing with hate speech and discrimination, especially against Jewish members of their community.
Stevens decided to take this step after a congressional testimony by Penn President Elizabeth Magill.
During this session, Magill avoided giving clear answers on whether advocating for the genocide of Jews goes against the university’s rules.
She commented that speech could become harassment depending on the situation, but this response didn’t address the broader concerns about Penn’s position on such serious issues.
This wasn’t an isolated incident.
Presidents of other renowned institutions, including Harvard and MIT, also avoided answering similar questions during their testimonies.
Their reluctance to give straightforward answers led to significant backlash, forcing them to rethink their responses. However, their revised statements haven’t stopped the criticism.
Magill later tried to clarify her position in a video, saying, “In that moment, I was focused on our university’s longstanding policies aligned with the U.S. Constitution, which say that speech alone is not punishable.”
She acknowledged her oversight in recognizing the severity of calls for genocide against Jewish people, calling such acts “evil — plain and simple.”
Yet, her late response couldn’t repair the already strained relations with key supporters like Stevens.
In a letter sent by his lawyers, Stevens accused Penn of breaking their partnership agreement, mainly the parts about anti-discrimination and anti-harassment.
He specifically pointed out Penn’s lenient approach to hate speech that incites violence against Jews and its casual attitude towards discrimination and harassment of Jewish students.
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This isn’t the first time Stevens has shown his displeasure with Penn’s approach.
Earlier, he had withdrawn another $100 million gift to Penn’s Wharton School, reportedly because of concerns that the school was placing too much emphasis on Diversity, Equity, and Inclusion (DEI) at the expense of academic excellence.
He redirected this donation to the University of Chicago, indicating his approval of their handling of these issues.
Penn’s campus has been a hub of recent anti-Semitic activity, including large protests by pro-Palestinian groups and graffiti with messages like “Free Palestine.”
These events have led other students to ask the university to step in and prevent any potential violence.
Stevens’ decision to retract his donation sends a strong message to Penn and other universities.
By pulling out such a significant sum, Stevens is voicing his belief that Penn has not done enough to ensure the safety and respect of Jewish students.
