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on September 29, 2025
'They have lost all future grants, their tax exemptions are at risk,' Ackman said on a panel at the Milken Institute Global Conference where 5,000 financiers, educators and scientists gather to discuss critical issues of the day. Ackman, the founder and CEO of Pershing Square, made similar arguments on Tuesday, when he said Harvard should not be entitled to taxpayer funds when the school wastes money on what he calls 'administrative bloat' He then again hit out at the school's governing board, saying it has become insular and that there is no mechanism to remove members the way there is in corporate America where investors can run board challenges.
'The Trump administration won't stand by as taxpayer dollars are used to support colleges that tolerate anti-Semitism or that support racist policies,' the official continued during a call with reporters Monday night. He has since asked the Internal Revenue Service to remove the school's tax-exempt status, and on Monday, Trump's Department of Education announced it was freezing even more funding for future research grants and other aid until Harvard concedes to a number of demands from the Trump administration.
'Harvard became, over time, a political advocacy organization for one party,' he claimed. 'When a university goes from being a university to becoming a political advocacy organization, it doesn't deserve nonprofit status.' 'Harvard should be a place where students go to learn and the best research gets done,' Ackman continued. 'It shouldn't be a place that is allowing pro-terrorist organizations on campus, that only allows certain kinds of thinking and speech on campus. For these grants to be re-issued, a senior Education Department official said Harvard 'would have to enter into a negotiation with the government to satisfy what the government says is in compliance with all federal laws.' His remarks came shortly after Education Secretary Linda McMahon sent a letter to Harvard President Garber saying that 'Harvard is not eligible for any new grants from the federal government until they demonstrate responsible management at the university.' Roglic began the season in fine fashion by winning the Tour of Catalunya but with Hindley and also 2024 runner-up Dani Martinez in their starting list, Red Bull-Bora Hansgrohe boast a three-pronged General Classification (GC) attack.
'If this were any other kind of corporation, the notion that she's still chairman of Harvard, leading the charge here and, in terms of Harvard, managed everything from COVID... to endowment management, to waste, to free speech, to who they hired as president of the university... It's time for a change in leadership in the board at Harvard.' He has since also called out Trump's plans to remove the school's tax-exempt status, which he told the Wall Street Journal is 'granted to educational institutions to enable them to successfully carry out their mission of education and, for research universities, of research.
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