Penn also spent a record amount of almost $1.1 billion from its endowment last year, financial statements show.

Harvard University’s endowment realized a 9.6% gain for Fiscal Year 2024, a significant improvement over last year’s 2.3% increase. Its value now stands at $53.2 billion.

Harvard's endowment fund, the world's largest university endowment, grew to $53.2 billion in fiscal 2024 amid strong investment returns even though endowment gifts shrank by a third as donors protested how the school handled antisemitism on campus.