Business

Billionaire donors rethink support of Columbia University


Nassau County Executive Bruce A Blakeman speaks at the entrance to Columbia University, which was occupied by pro-Palestinian protesters in New York on April 22, 2024.

Charly Triballeau | AFP | beautiful images

Billionaire donors like it Robert Kraft And Leon Cooperman is weighing its support for Columbia University amid rising tensions on campus over pro-Palestinian protests.

Friction in Colombia has escalated in recent days, amid reports of anti-Semitic speech on and around campus, where students have set up tents to protest Israel’s bombardment of Gaza.

Kraft, who has donated millions of dollars to the school, condemned the protests on Monday, hours after Columbia President Nemat “Mouche” Shafik announced that classes would be held virtually “to reduce the hostility” of the protests.

“I am not comfortable supporting the university until corrective action is taken,” Kraft said in a statement. declare. “I hope that Columbia and its leadership will stand up against this hate by ending these protests immediately and will work to regain the respect and trust of many in We, the people, have lost faith in the institution.”

New England Patriots owner Robert Kraft listens as NFL Commissioner Roger Goodell speaks to the media about various topics in the tournament leading up to Super Bowl LIII at the Georgia World Congress Center on January 30 2019, in Atlanta, GA.

Austin McAfee | Sportswire Logo | beautiful images

Kraft is the chairman and chief executive officer of the Kraft Group and founder of the Foundation Against Anti-Semitism (FCAS). He also owns the New England Patriots. IN 2000Columbia opened the Kraft Center for Jewish Student Life in his name and in 2007, the school dedicated an athletic field to him “for his incredibly generous contributions.”

FCAS and The Kraft Group did not immediately respond to a request for clarification on whether Kraft’s statement meant he would officially pause his financial contributions to Columbia.

“Columbia is grateful to Mr. Kraft for his years of generosity and service to Columbia,” a Columbia spokesperson said in a statement to CNBC. “This is a time of crisis for many members of our community, and we are focused on providing the support they need while keeping our campuses safe.”

Public opposition to Kraft raises questions about whether other prominent donors will pause their support for the school.

“I can’t say that yet,” Leon Cooperman, Chairman and CEO of Omega Family Office, told CNBC when asked whether he would follow Kraft’s lead.

He said he will continue to donate to Columbia’s business school “as they engage” him.

“I am not comfortable with what is going on at the school,” Cooperman said Monday. But you know, I don’t want to blame the government for the protests.” “It’s these kids who are out of control. They have bad brains.”

Cooperman and Kraft so far represent a minority of Columbia University’s wealthy donors who are speaking out against the protests.

James Gorman, executive chairman of Morgan Stanley and chairman of the board of trustees at Columbia Business School, declined to comment when contacted late Sunday about the campus protests.

David Greenspan, founder of Slate Path Capital and a member of the Columbia Business School board, also declined to comment through a spokesman.

CNBC reached out to half a dozen organizations listed by Columbia University as having given at least $1 million to the school since 2014. None of them responded to CNBC’s request for comment.

Leon Cooperman

Scott Mlyn | CNBC

Columbia Justice in Palestine students said protesters were unfairly portrayed and that anti-Semitic comments came from extremist individuals who did not reflect the spirit of their movement.

“We are disappointed by the media’s distraction focusing on objectionable individuals who do not represent us,” the group wrote in a statement. declare on Sunday. “We firmly oppose any form of hatred or bigotry and oppose non-students trying to disrupt our unity.”

The New York Police Department said during a news conference Monday that there were no reports of physical altercations related to the protests, but that Jewish students had called about receiving hateful comments.

Because Columbia is private property, the NYPD said it will not intervene on campus unless authorized by the school. But they added that officers had a “very heavy police presence” in the surrounding area.

Last Thursday, NYPD officers conducted a sweep of the protest camp at the request of Shafik University President and arrested 108 people.

Students demonstrate in support of Palestinians on the campus of Columbia University, as protests continue on and off campus, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in City New York City, USA, April 22, 2024.

Caitlin Ochs | Reuters

Shafik was under competitive pressure from students, wealthy donors and government officials.

On April 17, Shafik testified before the House Education and Workforce Committee about Columbia’s response to anti-Semitism on campus.

On Monday, Rep. Elise Stefanik, RN.Y., and nine other House Republicans called on Shafik to resign for allowing what they called “illegal, anti-government encampments.” Jewish.”

“It is time for Columbia University to turn this shameful page,” they wrote in a statement. This can only be done through the restoration of order and your prompt resignation.” letters.

Stefanik has made this kind of Ivy League outrage part of his political brand.

During congressional hearings on anti-Semitism in DecemberStefanik criticized the presidents of Harvard University, the University of Pennsylvania and the Massachusetts Institute of Technology for balking at the question of whether calling for a Holocaust violates free speech protections. their university or not.

That incident prompted an uprising, led by conservatives and wealthy donors, that eventually led to his resignation. Harvard And of Penn presidents.

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