Bloomberg: Real Assets Position University of Texas to Surpass Harvard as the Wealthiest School

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In August 29, 2022
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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.

See Full article on Bloomberg.