UT system wealthier than 102 countries, according to report

ut austin ut tower_1532540974578.jpg.jpg

AUSTIN (KXAN) — Everyone living in Austin knows the University of Texas is big. It is a way of life in Austin. What some may not know is that the UT system is wealthier than at least 102 countries, according to a Microsoft News report.

MSN looked at total endowments donated to university systems and compared them to the net worth of every country on the planet. They then created a list of 50 colleges and university that are wealthier than some countries. UT takes the second spot on the list just after Harvard.

UT’s 2018 endowment reached $30.9 billion, making it more wealthy than 102 countries. UT’s system-wide wealth is equivalent to that of countries like Papua New Guinea and Bhutan. It is important to note that UT’s total endowment was calculated from all its institutions, including the LBJ School of Public Affairs and the McCombs School of Business.

Another Texas school made the list. Rice University placed number 20 with its 2018 endowment of $6.3 billion, making it richer than 46 countries. Texas A&M University was ranked number eight with a 2018 endowment of $13.5 billion. It is richer than 73 countries and on par with the West Bank and Gaza’s wealth.

The UT system serves nine universities and more than 240,000 students.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Austin-Travis County

More Austin-Travis County News

Latest Central Texas COVID-19 Cases

More Coronavirus Live Blogs

Trending Stories

Don't Miss