Bill Ackman, 57, is a hedge-fund billionaire who made his fortune by taking unconventional short
and long positions.
He always gives interesting business-related interviews on CNBC, and that, frankly, was the extent of my knowledge about him.
Until
he took issue with the December 5th performance of Harvard then-President Claudine Gay before Congress on the subject of anti-semitism and free speech at Harvard, his alma mater.
The scales had fallen from his eyes:
Twenty-four hours after Hamas attacked Israel, Mr. Ackman “saw students supporting terrorists—Harvard students, no less.” With astonishment that hardened into outrage, Mr. Ackman witnessed 34 student groups at his alma mater “come out to say that Israel is solely responsible for the most heinous acts we’ve seen in modern history.”
Harvard wasn’t the only American campus where students railed against Israel and at Jewish classmates. But Harvard was the place to which Mr. Ackman, an “absolutely loyal alum in all respects,” had given $50 million over the years. “I lecture at the university multiple times a year,” he says, adding that he’s on the dean’s advisory board. Observing the protests, and the Harvard administration’s refusal to curb them, he mounted a mutiny of donors, calling on them to help drive Harvard’s president, Claudine Gay, from her job. He feared that her continued presence at the helm would lead angry donors to stop giving. “I am personally aware of more than a billion dollars of terminated donations from a small group of Harvard’s most generous Jewish and non-Jewish alumni,” he wrote on Dec. 10.
Ms. Gay’s resignation on Jan. 2 was a result of her maladministration as well as of convincing accusations of plagiarism in her academic writings.
After reviewing Claudine Gay's, as well as MIT President Sally Kornbluth's and Penn President Liz Magill's, testimony before Congress, Mr. Ackman came to believe that their tepid response to student groups' calls for genocide against Jews was attributable to the DEI (diversity, equity, and inclusion) practices that have pervaded campuses nationwide. On January 2nd he
tweeted: [bold added]
Under DEI, one’s degree of oppression is determined based upon where one resides on a so-called intersectional pyramid of oppression where whites, Jews, and Asians are deemed oppressors, and a subset of people of color, LGBTQ people, and/or women are deemed to be oppressed. Under this ideology which is the philosophical underpinning of DEI as advanced by Ibram X. Kendi and others, one is either an anti-racist or a racist. There is no such thing as being “not racist.”
Under DEI’s ideology, any policy, program, educational system, economic system, grading system, admission policy, (and even climate change due its disparate impact on geographies and the people that live there), etc. that leads to unequal outcomes among people of different skin colors is deemed racist.
As a result, according to DEI, capitalism is racist, Advanced Placement exams are racist, IQ tests are racist, corporations are racist, or in other words, any merit-based program, system, or organization which has or generates outcomes for different races that are at variance with the proportion these different races represent in the population at large is by definition racist under DEI’s ideology.
In order to be deemed anti-racist, one must personally take action to reverse any unequal outcomes in society. The DEI movement, which has permeated many universities, corporations, and state, local and federal governments, is designed to be the anti-racist engine to transform society from its currently structurally racist state to an anti-racist one.
Claudine Gay's resignation on January 2nd was only the first battle in what may well turn out to be a long cultural war between wokeness and traditional values. Claudine Gay not only was criticized for her actions as Harvard President but for alleged instances of plagiarism on her scholarly work.
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Neri Oxman (WSJ photo) |
The Business Insider then accused Bill Ackman's wife,
Neri Oxman, for plagiarism on
her 2010 doctoral dissertation at MIT. Ms. Oxman apologized.
Bill Ackman, convinced that the source of the Business Insider report was someone(s) at MIT, vowed to develop AI tools to examine a broad swath of MIT dissertations and publications for plagiarism.
Circling back to the three-presidents testimony before Congress on December 5th, MIT President Kornbluth is the only one of the three who still holds office, Penn's Liz Magill having resigned on December 9th. It would be surprising if she lasts out the year.
After the break is the text of Bill Ackman's January 2nd tweet.