Not that this news will make anyone feel better, but Harvard University is richer than ever before. The unversity’s endowment grew more than $5 billion during the 2007 fiscal year to reach a whopping $34.9 billion.
Am I the only one who is shocked by that? Just for comparison, the GDP (or purcashing power) of Burkina Faso, which is as you know, an entire country, home to 14 million people, is $18.76 billion.
The rich of course get richer because they can afford the best. The company that manages the Harvard endowment apaprently posted a 23% return on its investments. I don’t suppose they’d consider managing my measly portfolio.