More than 100 US universities and colleges have interests offshore where they pay little or no tax and seek to grow their already phenomenal riches away from public scrutiny, the Paradise Papers reveal. 12 major universities and colleges invest in Cayman Islands hedge fund pumping cash into fossil fuels. With combined endowments of more than $500bn (£378bn), the leaked documents show universities have become big players in offshore games. In total, 104 US universities and colleges are named in data from the law firm Appleby. Four of the top 10 schools by endowment are in the files: Columbia, Princeton, Stanford and the University of Pennsylvania. Between them, they have reserves of $73.7bn.
— source theguardian.com 2017-11-12
what a shame!