Billionaire trader Jeff Yass, co-founder of Susquehanna International Group, is donating $100 million to the University of Austin.
It will be the largest gift yet to the self-described "anti-woke" institution founded in 2021 by journalist Bari Weiss and venture capitalist Joe Lonsdale, The Wall Street Journal reported Wednesday.
The donation will launch a $300 million fundraising drive aimed at expanding the university's enrollment from 150 to 500 students, University President Carlos Carvalho said.
The school promotes "the fearless pursuit of truth" and rejects government funding, relying solely on private donors, including real estate developer Harlan Crow and investor Len Blavatnik.
Yass, a major GOP donor whose net worth Forbes estimates at $65.7 billion and an early investor in TikTok's parent company, said he supports separating education from government oversight, and a wealth-sharing structure stemming from alumni.
"As you get older, pay it back," he told the Journal. "If the model doesn't work, then the school should fail."
Carvalho hopes to reach accreditation by spring 2028.
Weiss remains a trustee at the school, and recently took the top spot at CBS News.
"A politics of censoriousness, forced conformity and ideological obedience has taken hold of our institutions," Weiss said in January.
Newsmax writer Eric Mack contributed to this report.
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