Harvard enlists help from billionaire alumni after Trump freezes $2.26B in federal funding

By Phan Anh April 20, 2025 | 06:56 pm PT

Students walk on the campus of Harvard University in Cambridge, Massachusetts, U.S., April 15, 2025. Photo by Reuters

Hit with a US$2.26 billion freeze from U.S. President Donald Trump, Harvard University is calling on its billionaire alumni for support.

The funding freeze, announced on April 14, followed Harvard's refusal to meet White House demands that included banning mask-wearing on campus, dismantling diversity initiatives, and revoking recognition of pro-Palestine student groups, according to reports from The Daily Beast.

In response, Harvard President Alan Garber has reached out to prominent alumni and billionaire donors, including hedge fund manager John Paulson, former New York City mayor Michael Bloomberg, and businessman David Rubenstein, seeking financial assistance, according to the Wall Street Journal.

The Trump administration also threatened to revoke Harvard's tax-exempt status, further intensifying pressure on the prestigious university.

The appeal for financial support has generated mixed reactions among donors. While some alumni have urged Harvard to seek a compromise with federal authorities, others have expressed solidarity by increasing their donations.

Between April 14 and 16, around 4,000 online donations totaling approximately $1.14 million poured into the university, according to the Harvard Crimson.

"This is a critical time for Harvard, specifically, and for higher education, more generally," stated Hopi E. Hoekstra, Dean of Harvard’s Faculty of Arts and Sciences.