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WEKU
WEKU
David Gura

As Harvard's endowment abandons fossil fuels, oil-rich University of Texas catches up

University of Texas Oil Texas Charlie Eaton Ray Perryman Cambridge Associates Harvard University Natural Gas
Harvard University has had the largest academic endowment since 1986. (Maddie Meyer/Getty Images)

Harvard University's endowment, currently valued at a jaw-dropping $50.9 billion, has been the largest among academic institutions for more than 35 years. But the University of Texas is nipping at its heels.

The University of Texas hopes to regain the top spot it relinquished to Harvard in 1986. According to new data, it now has a $42.3 billion endowment, thanks in part to royalties it makes from oil and natural gas. The university owns more than 2 million acres of land in West Texas.

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