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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.
The post BDS Could Cost Universities Billions of Dollars, New ADL Report Says first appeared on Algemeiner.com.
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Hamas Continues to Praise Western Countries for Recognizing Palestinian State
Australia’s Prime Minister Anthony Albanese speaks at a Labor party election night event, after local media projected the Labor Party’s victory, on the day of the Australian federal election, in Sydney, Australia, May 3, 2025. Photo: REUTERS/Hollie Adams
The Palestinian terrorist group Hamas is once again praising Western countries for recognizing a Palestinian state, most recently commending Australia for its decision to do so at the United Nations General Assembly next month.
“We welcome Australia’s decision to recognize the state of Palestine, and consider it an important step towards achieving justice for our people and securing their legitimate rights,” Hamas senior leader Sheikh Hassan Yousef said in a statement on Wednesday.
“This position reflects political courage and a commitment to the values of justice and the right of peoples to self-determination,” he said, urging the Australian government to turn this recognition into concrete action “by exerting diplomatic pressure to end the Israeli occupation.”
“We call on all countries, especially those that believe in freedom and human dignity, to follow Australia’s example and translate their positions into practical steps to support the Palestinian people and end their suffering under occupation,” the statement continued.
Australian Prime Minister Anthony Albanese announced his government’s decision earlier this week, joining France, the United Kingdom, Canada, and other nations in pledging to recognize a Palestinian state next month.
Senior Hamas official Ghazi Hamad previously praised Canadian, British, and French plans to recognize a Palestinian state as “the fruits of Oct. 7,” citing the Hamas-led invasion of and massacre across southern Israel on Oct. 7, 2023, as the reason for increasing Western support.
“The fruits of Oct. 7 are what caused the entire world to open its eyes to the Palestinian issue,” the terror leader said in an interview with Al Jazeera.
Israeli officials and opponents of such recognition argue that Hamad’s remarks demonstrate that these countries are, in effect, rewarding acts of terrorism.
On Tuesday, a spokesperson for Albanese’s government dismissed such accusations, arguing that Hamas would in fact oppose the recognition of a Palestinian state, since the terrorist group would have no role in its future governance.
The spokesperson even condemned Hamas for attempting to “manipulate facts for their own propaganda” after the group hailed his decision as an “important step towards achieving justice.”
Albanese echoed those sentiments in a media interview with “Today,” saying, “Hamas is opposed to two states. This is the opposite of what Hamas wants. Hamas wants one state.”
US and Israeli officials criticized Australia’s latest decision, arguing that the recognition effectively “rewards” Palestinian terrorists.
Israel’s Deputy Foreign Minister Sharren Haskel accused Albanese of being “detached from reality.”
In an interview with “Sid & Friends In The Morning,” US Secretary of State Marco Rubio on Tuesday dismissed Western plans to recognize a Palestinian state next month, calling the move “”meaningless.”
“It’s symbolic, and they’re doing it primarily for one reason, and that is their internal politics, their domestic politics,” Rubio said.
“In the UK, in France, in many parts of Europe and Ireland, for a long time their domestic politics have turned anti-Israel or whatever it may be, and they’re getting a lot of domestic pressure to do something,” he continued.
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Democratic Socialists of America Makes Support for Israel’s Right to Self-Defense an ‘Expellable Offense’
A protester holds a sign that reads, ”From the river to the sea Palestine will be free” during a pro-Palestinian emergency demonstration outside the Consulate General of Israel in Houston, Texas, on March 19, 2025. Photo: Reginald Mathalone via Reuters Connect
At its 2025 National Convention this past weekend, the Democratic Socialists of America adopted a contentious resolution titled “For a Fighting Anti-Zionist DSA,” further crystallizing the far-left organization’s anti-Israel views.
The measure, which passed by a margin of 56 percent to 43 percent, “unequivocally affirms” the DSA’s “commitment” to the Thawabit, a Palestinian nationalist framework that includes the so-called “right of return” for millions of Palestinians and their descendants, claims to Jerusalem as a Palestinian capital, and explicit support for so-called “resistance” against Israel. Palestinian leaders and activists have described the Thawabit as a set of principles aimed at eliminating Israel and establishing a Palestinian state in its place.
The DSA, the largest socialist organization in the US which counts members of the US Congress among its ranks, has previously opposed US military aid to Israel and supported the boycott, divestment, and sanctions (BDS) movement against the Jewish state. However, the resolution passed on Sunday marks an escalation.
According to the resolution, various actions in support of Israel, such as “making statements that ‘Israel has a right to defend itself’” and “endorsing statements equating anti-Zionism with antisemitism,” will now be considered an “expellable offense,” subject to a vote by the DSA’s National Political Committee.
The resolution’s passage underscores the widening gulf in the US between far-left activists and mainstream Democrats, who have generally supported Israel’s right to self-defense and to live in security even if they’ve been critical of the Israeli war effort in Gaza. DSA members celebrated the vote as a bold stand for Palestinian liberation, but some observers have suggested that it could alienate allies and normalize extremist rhetoric.
With roughly 78,000 members nationwide, the DSA represents a small fraction of the Democratic Party’s base. But its convention votes often reverberate in progressive political spaces.
DSA has ramped up its anti-Israel rhetoric during the Gaza war. On Oct. 7, 2023, the organization issued a statement saying that Hamas’s massacre across southern Israel that day was “a direct result of Israel’s apartheid regime.” The organization also encouraged its followers to attend an Oct. 8 “All Out for Palestine” event in Manhattan.
In January 2024, DSA issued a statement calling for an “end to diplomatic and military support of Israel.” Then in April, the organization’s international committee, DSA IC, issued a missive defending Iran’s right to “self-defense” against Israel. Iranian leaders regularly call for the Jewish state’s destruction, and Tehran has long provided Hamas with weapons and funding.
The vote also comes amid the political ascendence of New York City Democratic mayoral nominee Zohran Mamdani, a high-profile DSA member and outspoken critic of Israel. Mamdani, who has called Israel an “apartheid state” and endorsed boycotts of Israeli institutions, has established himself as a leading voice for the party’s anti-Zionist wing.
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New York Man Sentenced for Firing Shotgun Outside Synagogue
Mufid Fawaz Alkhader. Photo: Screenshot.
US federal law officials on Tuesday announced the sentencing of a man who fired a pump-action shotgun outside the Temple Israel synagogue in Albany, New York to express his anti-Israel views and intimidate Jewish community members.
The perpetrator, 29-year-old Mufid Fawaz Alkhader, committed the offense on Dec. 7, 2023, exactly two months after the Hamas-led Oct. 7 massacre across southern Israel, amid preparations for the observance of Hanukkah. According to the US Justice Department, he commuted there via Uber from his residence in Schenectady, a city of the Capital Region that once possessed a thriving manufacturing sector and large middle class. Positioning himself in the front entrance, Alkhader discharged his firearm, purchased illegally, twice “into the air” as he bellowed “Free Palestine.”
His gun jammed on the third attempt, after which he turned his frustration on an Israeli flag pitched in front of the institution, the Justice Department said in a press release announcing the sentencing on Tuesday. Local law enforcement later apprehended Alkhader, but the security incident he precipitated frightened the congregation, causing it to “cancel a planned concert and candle lighting ceremony to celebrate Hanukkah that evening.”
Alkhader ultimately faced several criminal charges — for purchasing an illegal firearm, violating the religious rights of Temple Israel’s worshippers, and wielding a weapon while committing a violent crime. He will serve ten years in lockup and five years of supervised release.
“This shooting, outside of a synagogue on the eve of a Hanukkah celebration, was unfortunately emblematic of the antisemitic violence, rhetoric, and practices that have swept this country over the last few years,” acting US attorney John Sarcone for the Northern District of New York said in a statement. “This year, the Justice Department has emphatically said — through its words and actions — no more. My office, with our law enforcement partners, will do everything within our powers to make sure everyone in the Northern District of New York can exercise their right to practice their religion without fear and violence and hatred.”
Alkhader’s assault on Temple Israel occurred during an unrelenting wave of over 10,000 antisemitic incidents that hit the American Jewish community in the first year after Oct. 7. According to a 2024 report published by the Anti-Defamation League (ADL) Center on Extremism on the first anniversary of Hamas’s massacre across southern Israel, antisemitic incidents in the US increased 200 percent. Thirty percent of the incidents recorded took place on college campuses and another 12 percent happened during anti-Israel protests. Another 20 percent targeted Jewish institutions, including nonprofit organizations and houses of worship. Of these, 50 percent were bomb threats.
The hatred has carried into 2025.
In June, a gunman murdered two Israeli embassy staffers in Washington, DC, while they exited an event at the Capital Jewish Museum hosted by a major Jewish organization. The suspect charged for the double murder, 31-year-old Elias Rodriguez from Chicago, yelled “Free Palestine” while being arrested by police after the shooting, according to video of the incident. The FBI affidavit supporting the criminal charges against Rodriguez stated that he told law enforcement he “did it for Gaza.”
Less than two weeks later, a man firebombed a crowd of people who were participating in a demonstration to raise awareness of the Israeli hostages who remain imprisoned by Hamas in Gaza. A victim of the attack, Karen Diamond, 82, later died, having sustained severe, fatal injuries.
Another antisemitic incident motivated by anti-Zionism occurred in San Francisco, where an assailant identified by law enforcement as Juan Diaz-Rivas and others allegedly beat up a Jewish victim in the middle of the night. Diaz-Rivas and his friends approached the victim while shouting “F—k the Jews, Free Palestine,” according to local prosecutors.
“[O]ne of them punched the victim, who fell to the ground, hit his head and lost consciousness,” the San Francisco district attorney’s office said in a statement. “Allegedly, Mr. Diaz-Rivas and others in the group continued to punch and kick the victim while he was down. A worker at a nearby business heard the altercation and antisemitic language and attempted to intervene. While trying to help the victim, he was kicked and punched.”
According to the latest data released by the FBI earlier this month, antisemitic hate crimes in the US have been tallying to break all previous statistical records. In 2024, even as hate crimes decreased overall, those perpetrated against Jews increased by 5.8 percent in 2024 to 1,938, the largest total recorded in over 30 years of the FBI’s counting them. Jewish American groups have noted that this surge, which included 178 assaults, is being experienced by a demographic group which constitutes just 2 percent of the US population.
A striking 69 percent of all religion-based hate crimes that were reported to the FBI in 2024 targeted Jews, with 2,041 out of 2,942 total such incidents being antisemitic in nature. Muslims were targeted the next highest amount as the victims of 256 offenses, or about 9 percent of the total.
“As the Jewish community is still reeling from two deadly antisemitic attacks in the past few months, the record-high number of anti-Jewish hate crime incidents tracked by the FBI in 2024 is consistent with ADL’s reporting and, more importantly, with the Jewish community’s current lived experience,” ADL chief executive officer Jonathan Greenblatt said at the time. “Since the Hamas-led Oct. 7 massacre in Israel, Jewish Americans have not had a moment of respite and have experienced antisemitism at K-12 school, on college campuses, in the public square, at work, and Jewish institutions.”
Follow Dion J. Pierre @DionJPierre.