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Harvard University’s endowment grew to more than $49.5 billion last year, making it once again the nation’s wealthiest college, Report informs referring to MarketWatch.
The University of Texas System wasn’t far behind with an endowment value of nearly $45 billion, while Yale University remained the third-richest school even as its endowment market value dropped slightly from last year.
The ranking of the nation’s largest college endowments is the result of a study of the financial assets of nearly 700 academic institutions, published Thursday by the National Association of College and University Business Officers and the Commonfund Institute.
Some institutions, like the University of California system, saw their fortunes swing over the last year. UC’s market value jumped 14.7% to nearly $17.7 billion, allowing the system to have the 10th-largest endowment and bumping the University of Notre Dame out of the No. 10 spot. The top nine university endowments by market value were unchanged from 2022. The average college endowment saw a 7.7% return in the last fiscal year ending June 30, 2023, according to the report.
