Texas Endowment at $31 Billion Passes Yale With Oil’s Help

Texas Endowment at $31 Billion Passes Yale With Oil’s Help
People walk at the University of Texas campus in Austin, Texas, June 23, 2016. Jon Herskovitz/Reuters
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Oil has been very good to university endowments in Texas.

It was so good in the year through June 30 that the University of Texas saw the value of its endowment reach $31 billion, surpassing Yale to become the second-largest endowment in U.S. higher education, according to data compiled by Bloomberg.