John Paulson’s $400 million gift to Harvard shows exactly what’s wrong with big university endowments – Quartz

John Paulson’s $400 million gift to Harvard shows exactly what’s wrong with big university endowments – Quartz.

WRITTEN BY

Matt Phillips

The reason the government gives tax exemptions is that it wants the money raised to be spent on a public good, not stockpiled in a massive piggy bank where the money mainly is steered into investments specifically intended to help the fundraising institution earn even more money. If the money isn’t being spent any time soon, why should taxpayers continue to subsidize these donations?

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