Major Donor Cuts $100 Million Donation for University of Pennsylvania After President’s Testimony

Stone Ridge is not the first donor that has terminated its donations to UPenn for its poor response to the Oct. 7 Hamas terrorist attack on Israel.

Building of University of Pennsylvania Carey Law School on Feb. 12, 2023. William Huang/The Epoch Times

A major donor just announced they cut off a $100 million donation for the University of Pennsylvania (UPenn) following UPenn President Liz Magill’s testimony on campus antisemitism that received wide backlash. 

In a letter to UPenn’s Senior Vice President Wendy White on Dec. 7, Ross Stevens, founder and CEO of Stone Ridge Asset Management, said via his lawyers that his company would “retire” his donation units worth about $100 million from the university. The donation was supposed to fund the Stevens Center for Innovation in Finance at UPenn.