Influential donors pen censuring letters to Penn University, close checkbooks as varsity fails to condemn Hamas

The number of high-profile donors withdrawing their financial support to the University of Pennsylvania has been soaring. They argue that UPenn’s leadership didn’t do much to condemn a multi-day Palestine Writes Literature Festival that took place on campus last month.

David Magerman, a UPenn graduate renowned for his work in building trading algorithms at Renaissance Technologies, expressed his discontent in a letter to UPenn leaders. He specifically criticised UPenn President Liz Magill’s decision to host the festival and her initial response to the terror attacks on Israel.

Magerman stated that he is ashamed of his association with UPenn and refuses to donate any more funds to the university.

“Jews have played an extraordinary role in the history and legacy of the University of Pennsylvania. And Jews have benefitted from their affiliation with Penn. But regardless of the economic and social value of a Penn or Wharton degree, there is no place for self-respecting Jewish people at an institution that supports evil,” he added.

NEW: Another major @Penn donor, David Magerman, has said he will no longer support the university:

“I am deeply ashamed of my association with the University of Pennsylvania. I refuse to donate another dollar to Penn. There is no action anyone at Penn can take to change that.” pic.twitter.com/nGBfVqq4NQ

— Steve McGuire (@sfmcguire79) October 17, 2023

Magerman is joined by other notable UPenn donors, including private-equity billionaire Marc Rowan, former US Ambassador Jon Huntsman, and more, who have pledged to withhold their financial support in protest.

President Elizabeth Magill responded to the criticisms by condemning the terrorist attacks by Hamas and expressing her horror at the violence in the region. She acknowledged the pain caused to the Jewish community by the presence of certain speakers on Penn’s campus.

Prior to David Magerman, the Huntsman family halted their donations to the university. Jon Huntsman Jr., the former governor of Utah and US ambassador, announced that the Huntsman Foundation would no longer contribute to the university.

Marc Rowan, CEO of Apollo Global, criticized UPenn for not taking a stronger stance against anti-Semitism and called for leadership changes. He also urged alumni to “Join me and many others who love UPenn by sending UPenn $1 in place of your normal, discretionary contribution so that no one misses the point.”