Anti-Semitism Controversy at US Penn, 130 Billion Won in Donations Disappeared

President Maegil avoids direct answers at US House hearing
Supporter "Shocked by behavior... withdrawing donation"

The president of the prestigious University of Pennsylvania (UPenn) in the United States has been reported to have lost a $100 million (approximately 130 billion KRW) donation after showing ambiguous attitudes regarding anti-Semitic protests.

According to a report by the British BBC on the 8th (local time), Ross Stevens, founder and CEO of Stone Ridge Asset Management, expressed his shock at the behavior shown by UPenn President Elizabeth Magill during a U.S. House hearing on the 5th.

In an email, CEO Stevens stated, "Due to President Magill's actions, I have a clear reason to withdraw the transfer of Stone Ridge shares worth $100 million to UPenn."

He had pledged approximately $100 million in 2017 in the form of a limited partnership (LP) to help establish a Financial Innovation Center at the Wharton School of UPenn, one of the top MBA programs in the U.S., but now intends to withdraw it.

CEO Stevens criticized the university's "lenient approach" toward those advocating violence against Jews, calling it a "violation of all policies and rules prohibiting religious-based harassment and discrimination."

Earlier, during a hearing held by the House Education and Labor Committee, President Magill avoided directly answering Republican Representative Elise Stefanik's question about whether the extreme claims by some students to "kill the Jews" violated the university's ethical code.

When asked whether inciting Jewish genocide violated UPenn's code of conduct, she responded, "It depends on the situation."

As bipartisan criticism poured in from both Republicans and Democrats, along with calls for her resignation, President Magill posted a video on the university website on the 7th, explaining that she had focused on the university's long-standing policy, consistent with the U.S. Constitution, that "speech alone cannot be punished."

She apologized, stating, "I should have focused on the undeniable fact that calling for the ethnic cleansing of Jews is calling for the most horrific violence a human can commit," but this appeared insufficient to quell the controversy.

Elizabeth Magill, President of the University of Pennsylvania, speaking at the U.S. House Education Committee hearing.
[Photo by AP Yonhap News]

In an email to the school, CEO Stevens said, "If a new president takes office, I am willing to reconsider the decision (to withdraw the donation) at that time."

U.S. CNN reported that Scott Bok, chairman of UPenn's board, is scheduled to have discussions with President Magill regarding her resignation within a few days.

Since the war that began with the surprise attack by the Palestinian armed group Hamas on Israel on October 7, conflicts have been escalating on U.S. college campuses.

The conflict started when some student groups issued statements blaming Israel for its 17-year blockade of the Gaza Strip. This came amid revelations that Hamas indiscriminately kidnapped and killed civilians.

As the war intensified and the number of Palestinian civilian casualties, including women and children in the Gaza Strip, surged, anti-Semitic protests have been repeatedly occurring on U.S. college campuses.

This content was produced with the assistance of AI translation services.