Malcolm Gladwell unloads on Yale for reportedly paying $480 million to hedge fund managers last year

Malcolm GladwellscreengrabAuthor Malcolm Gladwell

Malcolm Gladwell is lashing out at Yale University for what he says is exorbitant spending on hedge fund management fees.

In a series of tweets on Wednesday, he cited a New York Times op-ed to attack the Ivy League school for supposedly paying excessive fees to hedge funds that manage Yale’s endowment, while spending a fraction of the amount on students. 








Gladwell’s tweets about Yale’s spending are sourced from the Times op-ed by University of San Diego Law professor Victor Fleischer, who researched endowment spending and came up with the $US480 million number. Fleischer says that’s the amount that Yale paid to private equity fund managers as compensation last year.

This isn’t Gladwell’s first attack the Ivy League for its massive endowment spending. In June, he mocked the $US400 billion donation to Harvard University by hedge fund manager John Paulson. That was Harvard’s largest gift of all time and added to its already mammoth $US36.4 billion endowment. 

Gladwell ridiculed the gift as a pseudo-charitable gift that would be better spent, in his opinion, on a worthier cause.

We have reached out to Yale University for comment and will update this post when we hear back.

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