UT endowment second-largest in the nation, according to Bloomberg data

[TexasTowelie]

by Shannon Najambadi, Texas Tribune


Bolstered by booming oil prices, the University of Texas' endowment hit $31 billion in value this summer, according to data compiled by Bloomberg News — making UT's endowment second only to Harvard University's in size among the country's institutions of higher education.

Harvard's endowment had a value of $39.2 billion, according to Bloomberg's data. Yale University, whose endowment often tops UT's in value, was at $29.4 billion, though the Texas system's more than 235,000 students dwarf Yale's 12,300.

The price of oil has dropped since the fall, a change not reflected in Bloomberg's numbers, which are current through June 30.

The Texas endowment dates back to 1876, when the state set aside more than 1 million acres of West Texas land to support the development of the UT and Texas A&M University systems. The value of the fund shot up with the discovery of oil, and the advancement of hydraulic fracturing technology. In 2010, the fund was worth some $10.7 billion. Last year, it was up to $19.5 billion.

Read more: https://www.texastribune.org/2018/12/26/university-texas-endowment-harvard/

[unblock]

1. The price of oil has plummeted since then

[Paladin]

2. This is why I hang up on fund-raising calls from UT.

As much as I love my old school, I also know they have half the money in the known universe to play with, and they don't require any more cash infusions from me.

[onetexan]

3. Good reason to lower tuition rates

i have a kid attending UT