Image: Harvard to lose status as America’s richest school to University of Texas due to woke investments



(Natural News)
Progressive bastion Harvard University is about to lose its status as the United States’ wealthiest school due to its refusal to make investments in non-woke sectors of the economy. Its main contender is the University of Texas System (UT System), which has no qualms in investing in fossil fuels like crude oil.

Harvard, the country’s oldest and wealthiest university with around 20,000 students, is historically known for its prolific investment management and long-term fundraising strategies. But it has recently subscribed to the ideology known as “woke capitalism,” which has since strongly influenced the university’s financial strategy.

The Ivy League university now eschews investing in fossil fuels, firearms manufacturers and many other lucrative stocks, companies and funds due to Harvard’s progressive ideology. A report from Bloomberg indicates that this politically-motivated investment strategy has failed for Harvard.

The UT System, which includes 13 higher educational institutions throughout the state – eight universities and five health institutions with medical schools – and catering to over 240,000 students, receives an endowment of $42.9 billion as of June 2021.

Harvard’s own endowment for the same period was $53.2 billion. This still makes the Ivy League university the richest school in the country – but that gap is narrowing quickly, thanks to UT System’s smart investment choices.

Harvard’s endowment this year is expected to show significant losses. The university’s annualized 10-year returns, as of June 2021, are posting among the lowest revenues among its peers in the Ivy League.

Brighteon.TV

In 2018, the UT System overtook Yale University‘s endowment and became the second-richest university in the United States. (Related: Meet BlackRock: The ‘architect of woke capitalism’ destroying America from within.)

University of Texas’ oil investments reaping great rewards

The UT System oversees 2.1 million acres of land – almost the size of Rhode Island and Delaware combined – in Western Texas, in a very oil-rich region known as the Permian Basin.

While many universities like Harvard are getting rid of their fossil fuel holdings in the name of political correctness, the Texas university system has gone the opposite direction and has leased its land to nearly 250 drillers. No matter the price of oil, the UT System collects 22.3 percent in royalties per barrel produced.

Land leased by the UT System is on track to post its best-ever annual revenue in the university’s 2022 fiscal year because of soaring oil prices and production on its property. The lands produce the equivalent of roughly 300,000 barrels of crude oil per day, which means that the UT System likely makes about $6 million every day.

William R. Murphy Jr., the chief executive officer of University Lands, the division of the UT System that manages its land holdings, noted that the university’s lands are on track to have the highest rates of oil production in their history. This productivity is “not an accident,” he added.

Over the last six years, University Lands has brought on teams of experts, including engineers, geologists and geophysicists, to make oil extraction the most efficient it can be while losing as little oil as possible in the process.

“The University of Texas has a cash windfall when everyone is looking at a potential cash crunch,” said William Goetzmann, a professor of finance and management studies at Yale’s School of Management. “Adjusting your portfolio for social concerns is not costless.”

Learn more about the woke universities at Wokies.news.

Watch this video from Martin Brodel as he discusses how BlackRock, the architect of “woke capitalism,” is destroying America from within.

This video is from the channel Martin Brodel on Brighteon.com.

More related articles:

Texas, 18 other states oppose BlackRock’s “woke” investment practices on pensioner’s funds.

Impending doom? Economist predicts ‘Brandon’s woke economics will lead to disaster.’

Far-left racism, bigotry now being disguised as “woke” capitalism.

Woke capitalism: How huge corporations demonstrate status by endorsing political radicalism.

Sources include:

WesternJournal.com

Bloomberg.com

Brighteon.com

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