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BDS Could Cost Universities Billions of Dollars, New ADL Report Says
Signs cover the fence at a pro-Palestinian encampment at Northwestern University in Evanston, Ill. on April 28, 2024. Photo: Max Herman via Reuters Connect.
Colleges and universities will lose tens of billions of dollars collectively from their endowments if they capitulate to demands to divest from Israel and companies that do business with it, according to a new report released on Thursday by JLens, a Jewish investor network that is part of the Anti-Defamation League (ADL).
Titled “The Impact of Israel Divestment on Equity Portfolios: Forecasting BDS’s Financial Toll on University Endowments,” the report presents the potential financial impact of universities adopting the boycott, divestment, and sanctions (BDS) movement, which seeks to isolate Israel from the international community as a step toward its eventual elimination.
The ADL describes its report as “the first of its kind” to measure the havoc BDS would wreak on university endowments, the core of a higher education institution’s financial health, by quantifying the returns for investment portfolios purged of Israel-linked companies.
“Our research demonstrates that university endowments that divest from Israel could face significant financial consequences,” JLens managing director Ari Hoffnung said in a statement. “Lower investment returns could compromise a university’s ability to provide scholarships, fund research, and invest in campus facilities.”
The numbers are harrowing. Adopting BDS, according to the report, would incinerate $33.21 billion of future returns for the 100 largest university endowments over the next 10 years, with Harvard University losing $2.5 billion and the University of Texas losing $2.2 billion. Other schools would forfeit over $1 billion, including the University of Pennsylvania, Stanford University, and Princeton University. For others, such as the University of Michigan and Dartmouth College, the damages would total in the hundreds of millions.
“This groundbreaking report approached the morally problematic BDS movement from an entirely new direction — its negative impact on portfolio returns,” New York University adjunct professor Michael Lustig said in a statement extolling the report. “JLens has done a great job in quantifying the financial effects of implementing the suggestions of this pernicious movement, and importantly, they ‘show their work’ by providing full transparency into their methodology, and properly caveat the points where assumptions must necessarily be made. This report will prove to be an important tool in helping to fight noxious BDS advocacy.”
The report adds that BDS proponents are capricious, making them unreliable investment advisers. They will add a company to the BDS “target list” for appearing to do business with Israel or Israeli companies and then fail to remove it even after the business ends. For example, JLens notes that BDS continues to name Microsoft as a “target” four years after it sold its stake in the Israeli software company AllVision. BDS proponents also offer conflicting reasons for divestment, with some limiting their grievance to the sale of weapons to the Israeli military and others aiming to halt any and all economic activity with Israel. Despite these inconsistencies, BDS proponents claim to speak with a unified voice.
“Additionally, the landscape of companies doing business in Israel is vast and ever-changing, making it challenging to compile a definitive list of BDS targets and that does not become quickly outdated,” JLens explained. “The list of potential BDS targets can expand at any time due to evolving geopolitical events and misguided activists campaigns. This dynamic nature of BDS targeting was exemplified during the editting phase of this research report, when BDS proponents expanded their calls for boycotts and divestments to include major corporations like Coca-Cola … this recent addition underscores the fluid nature of BDS campaigns and the potential for rapid shifts in targeted companies.”
American universities are largely rejecting demands to divest from Israel and entities linked to the Jewish state, but some have embraced divestment or other policies approximating it, Inside Higher Ed reported earlier this month, noting that California State University-Sacramento has said it will not invest in companies which “profit from genocide, ethnic cleansing, and activities that violate fundamental human rights,” an ambiguous turn of phrase that does not specifically mention Israel. Additionally, the outlet added, Union Theological Seminary in the City of New York has committed to implementing “socially responsible investment screens” that prevent investments in companies “substantially and intractably benefiting from the war in Palestine.”
As The Algemeiner has previously reported, Brown University’s Corporation of trustees will soon vote on a divestment proposal based on the demands of a group which calls itself the Brown Divest Coalition (BDC). According to The Brown Daily Herald, Brown president Christina Paxson initially only promised the protesters a meeting with members of the Brown Corporation, but the students pushed for more concessions and ultimately coaxed her into making divestment a real possibility.
JLens says in its report that Brown would lose $309 million dollars if it chooses to accept the investment advice of its undergraduates. The mere possibility of it is already causing damage. Earlier this month, a trustee of the Brown Corporation, Joseph Edelman, resigned from his position, citing the upcoming vote.
“It’s no coincidence that leading pro-boycott groups have ties to terrorist organizations that seek the annihilation of the Jewish people,” he wrote in an op-ed, published by the Wall Street Journal, announcing his resignation. “In the end, that is the goal of the BDS movement, and I can’t accept the treatment of a hate movement as legitimate and deserving of a hearing. Brown’s policy of appeasement won’t work. It’s a capitulation to the very hatred that led to the Holocaust and the unspeakable horrors of Oct. 7.”
Follow Dion J. Pierre @DionJ.Pierre.
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US Sens. Tom Cotton, Lindsey Graham Unveil New Resolution Demanding Iran ‘Dismantle’ Nuclear Program

US Sen. Tom Cotton (R-AK) speaks during a Senate Intelligence Committee hearing on Capitol Hill in Washington, DC, March 11, 2024. Photo: REUTERS/Julia Nikhinson
US Republican Sens. Tom Cotton (AK) and Lindsey Graham (SC) on Thursday unveiled a new resolution demanding Iran completely “dismantle” its nuclear program.
The resolution was introduced as the Trump administration continued to engage in talks with Iran to negotiate a deal to curb the latter’s nuclear activity, which Western countries believe is ultimately geared to build nuclear weapons. Iran has claimed its nuclear program is for civilian energy purposes.
“Iran cannot get a nuclear weapon; that’s off the table,” Graham said during a press conference on Thursday.
The resolution calls on the White House to pursue the “complete dismantlement” of Iran’s nuclear enrichment program, cautioning that Tehran would use a nuclear warhead to “carry out one of the most extreme religious ideas on the planet” — a reference to the Islamist ideology of Iran’s rulers.
The senators called on their colleagues in Congress to support the resolution.
Graham warned that if Iran, a predominately Shi’ite country under its current theocratic system, ever acquired a nuclear weapon, then the Sunni Arab countries of the Middle East would then attempt to obtain one themselves, sparking “a nuclear arms race in the Middle East.” Graham also cautioned that Iran would use a nuclear weapon as an “insurance policy” and a tool to destroy its enemies, including Israel. The senator demanded that Iran completely scrap its nuclear program, arguing that anything short of “complete dismantlement” would be “non-negotiable.”
“The ayatollah [Iran’s supreme leader, Ali Khamenei,] and his henchmen are virtual religious Nazis,” Graham said. “They openly talk about destroying the state of Israel. They write it on the side of their missiles, and I believe them.”
Graham claimed that Iran has likely enriched enough uranium to produce at least six nuclear weapons.
The South Carolina senator predicted that Iran would also use nuclear bombs to “take over” Muslim holy sites and push the United States out of the Middle East.
“A nuclear Iran makes for a far more dangerous world,” Cotton said.
Cotton argued that Iran would use the security provided by a nuclear weapon to aggressively advance its terrorism campaigns throughout the globe. The senator cited several terror attacks tied to Iran, including the assassination attempt against US President Donald Trump last year. Cotton also cited Iran’s continued operation of proxies such as Hezbollah, Hamas, and the Houthis — all internationally designated terrorist organizations backed by Tehran.
The Arkansas senator added that an Iranian nuclear weapon would present “an existential threat to our good friend Israel,” which Iran’s leaders regularly threaten to destroy.
Israel has been among the most vocal proponents of dismantling Iran’s nuclear program, with Israeli Prime Minister Benjamin Netanyahu arguing that the US should pursue a “Libyan option” to eliminate the possibility of Tehran acquiring a nuclear weapon by overseeing the destruction of Iran’s nuclear installations and the dismantling of equipment.
Both Graham and Cotton stated that they would be supportive of Iran obtaining a true civilian nuclear energy program. However, the senators argued that allowing Iran to enrich uranium or maintain centrifuges itself would inevitably lead to Tehran building a nuclear weapon.
As the US continues to negotiate a potential nuclear deal with Iran, the Trump administration has drawn criticism from some traditional allies who fear the White House could make too many concessions to Tehran. Critics have argued that elements of Trump’s negotiations with Iran mirror parts of the Joint Comprehensive Plan of Action (JCPOA) — the 2015 deal which placed temporary restrictions on ‘nuclear program in exchange for the lifting of major international sanctions.
The 2015 deal, which the Obama administration negotiated with Iran and other world powers, allowed Iran to enrich significant quantities of uranium to low levels of purity and stockpile them. It did not directly address the regime’s ballistic missile program but included an eight-year restriction on Iranian nuclear-capable ballistic missile activities. Trump withdrew the US from the accord during his first presidential term in 2018, arguing it was too weak and would undermine American interests.
The White House has also received scrutiny from other Republicans in Congress. In a comment posted on X/Twitter, Sen. Ted Cruz (R-TX), for example, lamented, “Anyone urging Trump to enter into another Obama Iran deal is giving the president terrible advice.” Urging the White House to reverse course, Cruz added that Trump “is entirely correct when he says Iran will NEVER be allowed to have nukes. His team should be 100% unified behind that.”
Trump has threatened military strikes, additional sanctions, and tariffs if an agreement is not reached to curb Iran’s nuclear activities. However, when asked by a reporter on Wednesday whether his administration would allow Iran to maintain an enrichment program as long as it doesn’t enrich uranium to weapons-grade levels, Trump said his team had not decided. “We haven’t made that decision yet,” Trump said in the White House. “We will, but we haven’t made that decision.”
Western countries believe Iran’s nuclear program is ultimately meant to build nuclear weapons. However, Iran has claimed that its program is for civilian energy purposes.
The International Atomic Energy Agency (IAEA), the UN’s nuclear watchdog, reported last year that Iran had greatly accelerated uranium enrichment to close to weapons grade at some of its nuclear facilities.
The UK, France, and Germany said in a statement at the time that there is no “credible civilian justification” for Iran’s recent nuclear activity, arguing it “gives Iran the capability to rapidly produce sufficient fissile material for multiple nuclear weapons.”
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Prevost Surprises as First US Pope, Takes Name Leo XIV

Newly elected Pope Leo XIV, Cardinal Robert Prevost of the United States appears on the balcony of St. Peter’s Basilica, at the Vatican, May 8, 2025. Photo: REUTERS/Guglielmo Mangiapane
Cardinal Robert Prevost, a long-time missionary in Latin America, was elected as the surprise choice to be the new leader of the Catholic Church on Thursday, becoming the first US pope and taking the name Leo XIV.
Pope Leo appeared on the central balcony of St. Peter’s Basilica after white smoke billowed from a chimney atop the Sistine Chapel, signifying the 133 cardinal electors had chosen him as a successor to Francis, who died last month.
“Peace be with you all,” he told the cheering crowd, speaking in fluent Italian. He also spoke in Spanish during his brief address but did not say anything in English.
Prevost, 69 and originally from Chicago, has spent most of his career as a missionary in Peru and has dual Peruvian nationality. He became a cardinal only in 2023. He has given few media interviews and is known to have a shy personality.
President Donald Trump swiftly congratulated him on becoming the first US pope. “What excitement, and what a Great Honor for our Country. I look forward to meeting Pope Leo XIV. It will be a very meaningful moment!”
However, the new pope has a history of criticizing Trump and Vice President JD Vance’s policies, according to posts on the X account of Robert Prevost.
Massimo Faggioli, an Italian academic who has followed the papacy closely, suggested the tenor of the Trump presidency might have influenced the cardinals to choose a pope from the US, who could directly rebut the president.
“The international upheaval of the rhetoric of the Trump presidency, paradoxically, made possible the impossible,” said Faggioli, a professor at Villanova University in the US.
“Trump has broken many taboos, the conclave now has done the same — in a very different key.”
PRAISE FROM PERU
The appointment was welcomed by the Peruvian president Dina Boluarte.
“His closeness to those most in need left an indelible mark on the hearts of Peru,” her office said in a post on X.
Prevost becomes the 267th Catholic pope following the death of Francis, who was the first from Latin America and who ruled for 12 years.
Francis had widely sought to open the staid institution up to the modern world, enacting a range of reforms and allowing debate on divisive issues such as women’s ordination and better inclusion of LGBT Catholics.
Leo thanked Francis in his speech and repeated his predecessor’s call for a Church that is engaged with the modern world and “is always looking for peace, charity and being close to people, especially those who are suffering.”
He had not been seen as a frontrunner and there was a brief moment of uncertainty when his name was announced to the packed St. Peter’s Square, before people started to clap and cheer.
Unlike Francis, who spurned much of the trappings of the papacy from the day he was elected in 2013, Prevost wore a traditional red papal garment over his white cassock as he first appeared as Leo XIV.
SNAP, a US-based advocacy group for victims of clerical sex abuse, expressed “grave concern” about his election, renewing accusations that Prevost failed to take action against suspected predatory priests in the past in Chicago and in Peru.
“You can end the abuse crisis — the only question is, will you?” it said in a statement addressed to the new pope.
In an interview with the Vatican News website in 2023, Prevost said the Church must be transparent and honest in dealing with abuse allegations.
CHICAGO CELEBRATES
A crowd of clergy and staff members at Chicago’s Catholic Theological Union erupted in a joyful cheer as Pope Leo walked out onto the Vatican balcony, some four decades after he graduated from the South Side school.
It was an “explosion of excitement and cheers that went up in the room … many of us were just simply incredulous and just couldn’t even find words to express our delight, our pride,” said Sister Barbara Reid, president of the theology school.
Pope Leo graduated from the school in 1982 with a master’s degree. Reid called Leo intellectually brilliant, saying he has an extraordinarily compassionate heart.
“It’s an unusual blend that makes him a leader who can think critically, but listens to the cries of the poorest, and always has in mind those who are most needy,” she said.
THE NAME LEO
The last pope to take the name Leo led the Church from 1878-1903. Leo XIII was known for his devoted focus to social justice issues, and is often credited with laying the foundation for modern Catholic social teaching.
Prevost has attracted interest from his peers because of his quiet style and support for Francis, especially his commitment to social justice issues.
Prevost served as a bishop in Chiclayo, in northwestern Peru, from 2015 to 2023.
Francis brought him to Rome that year to head the Vatican office in charge of choosing which priests should serve as Catholic bishops across the globe, meaning he has had a hand in selecting many of the world’s bishops.
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Israel Warns of ‘Severe Consequences’ for Houthis, Vows to Defend Itself After US Cuts Deal With Terror Group

Smoke rises in the sky following US-led airstrikes in Sanaa, Yemen, Feb. 25, 2024. Photo: REUTERS/Adel Al Khader
Israeli Defense Minister Israel Katz on Thursday warned that the Houthis would “suffer severe consequences” if the Yemeni terrorist group continued to attack Israel, emphasizing the Jewish state’s capability to defend itself following US President Donald Trump’s unexpected deal with the Iran-backed rebel militia.
“Israel must be capable of defending itself against any threat or enemy,” Katz wrote in a post on X. “This has been the case throughout many challenges in the past and will remain true in the future.”
“I also warn the Iranian leaders who finance, arm, and operate the Houthi terrorist organization: the balance of power has shifted, and the Axis of Evil has collapsed,” the top Israeli defense official added. “What we did to Hezbollah in Beirut, to Hamas in Gaza, to Assad in Damascus, and to the Houthis in Yemen, we will also do to you in Tehran.”
Katz continued, “We will not allow anyone to harm Israel; and those who do will suffer severe consequences.”
On Sunday, the Houthis, an internationally designated terrorist group, declared they would impose a “comprehensive” aerial blockade on Israel, targeting the country’s airports in retaliation for the Israeli military’s expanded operations in Gaza.
Claiming solidarity with Palestinians in the war-torn enclave, the Iran-backed group took responsibility for a missile strike near Israel’s Ben Gurion Airport, marking the latest in a series of attacks.
While Israel’s missile defense systems have intercepted most strikes from Yemen, Sunday’s missile was the first in a series launched since March to bypass the country’s defense capabilities, following a drone strike on Tel Aviv last year.
Alongside Hezbollah and Hamas, Houthi rebels are a key part of Iran’s so-called “Axis of Resistance” against Israel and the United States.
On Wednesday, Israeli Prime Minister Benjamin Netanyahu vowed to retaliate against the Yemeni terrorist group, reaffirming that the Jewish state will defend itself against any threat.
“Israel will defend itself by itself,” Netanyahu said in a video posted on social media. “If others join us — our American friends — all the better. If they don’t, we will still defend ourselves on our own.”
In response to the Houthis’ latest attack, Israeli forces launched major strikes on the Yemeni port of Hodeidah and the international airport in Yemen’s capital Sanaa, both facilities crucial to the Iran-backed terrorist group’s ability to operate.
The strikes came as Houthi officials revealed that their agreement with Washington to cease targeting US maritime activity in the Red Sea did not include any commitment to stop attacking Israel or ships linked to the Jewish state.
لقطات جديدة للغارات الجوية الإسرائيلية التي أصابت مطار صنعاء الدولي في اليمن. pic.twitter.com/DlzAqg5xES
— الأحداث العالمية (@NewsNow4USA) May 6, 2025
Since the Israel-Hamas war began in October 2023, the Houthis — whose slogan is “death to America, death to Israel, curse the Jews, and victory to Islam” — have targeted over 100 merchant vessels in the Red Sea with missiles and drones, causing a massive disruption of global trade.
During an Oval Office appearance on Tuesday, Trump announced that the US would halt airstrikes on the Yemeni terrorist group after it agreed to stop attacking American ships — an agreement that ended weeks of escalating tensions with the Iran-backed group and, according to US and Israeli officials, was made without prior notice to Jerusalem.
Since launching its current operation in Yemen, known as Operation Rough Rider, on March 15, the US military says it has struck over 1,000 targets, killing hundreds of Houthi fighters and numerous group leaders.
After Trump announced the deal with the Iran-backed terrorist group, Iranian Foreign Ministry spokesperson Esmaeil Baghaei praised “the end of the US aggression” on Yemen and thanked Oman for its efforts in mediating the ceasefire agreement.
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