Record Donation

Billionaire trader Jeff Yass donated $100M to the University of Austin, per The Wall Street Journal.

Context

The University of Austin was established in 2021 by venture capitalist Joe Lonsdale, who co-founded Palantir, and journalist Bari Weiss, who recently became editor-in-chief of CBS News. The school emerged from frustration among wealthy donors over what they perceived as political polarization and suppression of unpopular ideas at elite universities. The institution has approximately 150 students across its inaugural freshman and sophomore classes. It charges no tuition, though students pay for housing, meals, and books.

Major Donation

Yass, who co-founded trading giant Susquehanna International Group, made the $100M gift to jump-start a new fund with a goal of raising $300M total. The university has already received half of Yass’ donation, while the remaining $50M will be spread out over the next four years. The donation represented the largest contribution to the school to date.