If you’re wondering why billionaire hedge fund manager John Paulson would hand $400 million to Harvard, an institution hardly hurting for money, you’re not alone. Author Malcolm Gladwell, whose best-selling books include “The Tipping Point: How Little Things Can Make a Big Difference, took to Twitter to mock Paulson for making the enormous gift to a university with a whopping $35 billion endowment. “It came down to helping the poor or giving the world’s richest university $400 mil it doesn’t need. Wise choice John!” Gladwell tweeted to his 287,000 followers. And the ridicule continued: “Next up for John Paulson: volunteering at the Hermes store on Madison avenue. Let’s make this a truly world class retail outlet!” And: “Apparently $200 mil is earmarked for a satellite campus on St Barts.” And: “Harvard’s pitch to Paulson: not all privileged people are equally privileged!” In accepting Paulson’s gift, which will support the School of Engineering and Applied Sciences, Harvard president Drew Gilpin Faust said the largesse “will change Harvard and enhance our impact on the world beyond.” Faust has not responded to critics, like Gladwell, who think the money would be better spent elsewhere. And in case you’re wondering, Gladwell, who grew up in England, did not go to Harvard. He graduated from the University of Toronto.
Gladwell’s tweets:
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It came down to helping the poor or giving the world's richest university $400 mil it doesn't need. Wise choice John! http://t.co/2bFmuTy397
— Malcolm Gladwell (@Gladwell) June 3, 2015
Next up for John Paulson: volunteering at the Hermes store on Madison avenue. Let's make this a truly world class retail outlet!
— Malcolm Gladwell (@Gladwell) June 3, 2015
If billionaires don't step up, Harvard will soon be down to its last $30 billion.
— Malcolm Gladwell (@Gladwell) June 3, 2015
It's going to be named the John Paulson School of Financial Engineering
— Malcolm Gladwell (@Gladwell) June 3, 2015
Harvard's pitch to Paulson: not all privileged people are equally privileged!
— Malcolm Gladwell (@Gladwell) June 3, 2015
Paulson to Harvard: is there a way to give back without actually giving anything back?
— Malcolm Gladwell (@Gladwell) June 3, 2015