Books, brains, billions: Mega funds run by Harvard, MIT, Stanford, Princeton, Cornell, Penn, Brown, Darmouth

Jay Hilotin

Endowment funds

University endowment in the US are run like a diversified fund, often invested in stocks, bonds, property, private equity, hedge funds, and venture capital, as per Think Advisor.

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How they're spent

Universities typically withdraw 4–5% annually from the fund’s value to spend on their programs. Following are the top university endowments as of 2024.

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Harvard – $53.2 billion

It's the largest academic endowment in the world. Supports extensive financial aid, research, and faculty salaries.

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Yale – $41.1 billion

Yale is known for their innovative investment strategies. Funds a wide range of academic and cultural programs.

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Stanford, $37.6 billion

It has one of the biggest education endowments, which returned 8.4% in fiscal 2024, up from 4.4% in 2023, as per Think Advisor.

| AFP

Princeton: $34.1 billion

It's the highest endowment per student among Ivies. It also allows for generous financial aid and a no-loan policy.

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MIT, $24.6 billion

Massachusetts Institute of Technology's $24.6 billion endowment returned 8.9% in 2024, up from -2.9% in 2023. 

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Penn – $22.3 billion

The University of Pennsylvania supports interdisciplinary centers and scholarships. Home to strong business and medical programs.

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Columbia – $14.8 billion

Endowment helps fund one of the most diverse Ivy campuses, and a strong investment in research and real estate.

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Cornell – $10.7 billion

Diverse funding sources due to its public-private hybrid status. Strong in STEM, agriculture, and applied sciences (amount includes both endowed and contract colleges).

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Dartmouth College – $8.3 billion

One of the largest endowments per student in the US. Prioritises undergraduate teaching and research opportunities.

| Crimson Education Strategists

Brown University, $7.2 billion

Emphasis on academic freedom and open curriculum. Endowment growth has significantly expanded financial aid.

Bloomberg