Bloomberg: Real Assets Position University of Texas to Surpass Harvard as the Wealthiest School
In 2018, The University of Texas System overtook Yale’s endowment as the second-richest US university. Now, the UT system is positioned to take the top spot. The University of Texas oversees 2.1 million acres in the Permian Basin, a vast oil rich region in Texas. UT System’s endowment is unique as crude and natural gas make up a significant portion of the portfolio. Many universities are shying away from fossil fuel investments and taking an ESG investing approach. Meanwhile, UT makes roughly $6 million a day by leasing their land to oil drillers. With soaring oil prices, the revenue generated by the land operated by UT could help protect the value of their endowment.
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