UPenn donor withdraws $100M donation after president's congressional testimony on antisemitism

 

A major donor to the University of Pennsylvania is withdrawing a nearly $100 million donation in protest over the college's handling of anti-Semitism on campus and the UPenn president's controversial testimony on the subject.

Ross Stevens, founder and CEO of Stone Ridge Asset Management, donated to Penn in 2017, a gift that included partnership units in the firm, now worth about $100 million, to help the university establish a center for financial innovation.

Stevens' attorneys sent a letter to the university indicating that the school had violated Stone Ridge's limited partnership agreement through its failure to follow anti-discrimination and anti-harassment rules.

This news was first reported by Axios.

The letter said Stevens and Stone Ridge are "appalled by the university's stance on anti-Semitism on campus."

It states that Penn's "hate speech calling for violence against Jews and a cavalier attitude toward harassment and discrimination against Jewish students would violate any of the policies that prohibit harassment and discrimination on the basis of religion, including Stone Ridge." Let's stop it."