Harvard endowment up 27.1% to nearly $68 billion from SpaceX
Business
Harvard just reported a huge 27.1% boost to its endowment this year (the biggest in five years) thanks mostly to a $2.2 billion investment in SpaceX.
This puts Harvard's endowment at nearly $68 billion and even outpaces the S&P 500's return for the same period.
The win highlights how Harvard's SpaceX stake is really paying off.
Harvard faces federal scrutiny funding cuts
Even with this growth, Harvard isn't totally in the clear.
Federal policy changes have led to more scrutiny over its diversity programs, a sharp drop (almost 20%) in federally sponsored research funding, and a much higher tax on investment income, now costing about $300 million each year.
Still, President Alan Garber says he's confident Harvard can navigate these challenges.