Billionaires frustrated with elite colleges are banding behind a fledgling school in Texas that boasts 92 students.
Trader Jeff Yass, real-estate developer Harlan Crow and investor Len Blavatnik are among the high-profile people donating to the University of Austin, or UATX. The new school has raised roughly $200 million so far—including $35 million from Yass—a huge sum for a tiny school without any alumni to tap.
Crow, a major GOP donor, was an early backer. “Much of higher ed today seems to want to reject Western accomplishments and the accomplishments of Western civilizations in their entirety,” he said. “Many people think that’s a bad idea.” Crow said he expects UATX to encourage ideological diversity. . . .
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