Ron Unz of the American Conservative posits that 375-year old Harvard University has grown so rich that it is now essentially a giant hedge fund with a little school attached.
The evidence:
Harvard's endowment is now back over $30 billion.
To manage this endowment, Harvard employs a platoon of hedge fund managers who are paid like, well, hedge fund managers.
Just the top 5 of these hedge fund managers, Unz reports, recently took home $78 million in a single year.
That's $16 million apiece.
Harvard's full professors, meanwhile--all 450 of them--take home $85 million a year.
That's $188,000 apiece.
Not much question about who's "the help" in this arrangement.
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(via Mike Konczal @rortybomb)
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