Billionaires, imperialists, and antisemites: The forces behind the assault on opposition to Gaza genocide
More than 80 days into Israel’s genocidal war against the people of Gaza, the ruling class is bitterly attacking democratic rights in the major capitalist countries in order to suppress and isolate mass protest against the genocide.
by Gabriel Black
Part 2 - The billionaires
To better understand the narrow social basis of the campaign to silence opposition to Israel’s genocide, it is useful to understand who is leading it. This campaign of censorship and intimidation is being led by an alliance of billionaires, Zionists, the far-right and top government and political leaders of American imperialism.
The first major group involved are a handful of multi-billionaires and economic power players whose stranglehold over the global economy positions them to control the political and cultural leadership of the major universities and other significant institutions.
As the World Socialist Web Site noted in an article written by an anonymous Harvard employee:
The first major group involved are a handful of multi-billionaires and economic power players whose stranglehold over the global economy positions them to control the political and cultural leadership of the major universities and other significant institutions.
As the World Socialist Web Site noted in an article written by an anonymous Harvard employee:
Just as inequality in general is increasingly incompatible with what remains of democracy, so is the subordination of universities to wealthy donors incompatible with academic freedom. The right-wing, pro-Zionist “donor revolt” is a qualitative development in big-money university donors attempting to use their power and influence to shape campus discourse. That these donors wield such influence—and that many of them seek to do so publicly—is an indication of how deeply compromised academia already is.
Indeed, universities are largely reliant on this stream of cash. According to the Council for Advancement and Support of Education, in 1980 private donations to US colleges and universities amounted to $4.2 billion. Today they have surged to $59.5 billion.
These are some of the major billionaires whose “donor revolt” is leading to the attack on basic rights of free speech and protest on US campuses.
These are some of the major billionaires whose “donor revolt” is leading to the attack on basic rights of free speech and protest on US campuses.
Les Wexner – One of the most important capitalists in retail sales, Wexner has amassed $10.6 billion, and is the 192nd richest person in the world, according to Bloomberg. Wexner founded L Brands, which controls, or previously controlled, Bath & Body Works, Victoria’s Secret, Abercrombie & Fitch, Express, and several other major brands. While Wexner no longer controls L Brands, his foundation, the Wexner Foundation, donated tens of millions of dollars to Harvard over the last few decades and has now pulled millions of dollars of future support. (He is also the billionaire who became the launching pad for convicted sex trafficker Jeffrey Epstein, who managed Wexner’s personal holdings for nearly two decades).
Idan Ofer – Idan and his brother Eyal are the 77th and 87th richest people in the world, owning $42 billion, according to Bloomberg. Together they control Ofer Global, the Zodiac Group, Quantum Pacific Group and Global Holdings, each of which are massive industrial, energy and real estate investment firms. They own about half of Israeli Corp., Israel’s largest holding company. Collectively their companies take in hundreds of billions of dollars a year in revenue through shipping, fertilizers, industrial chemicals, energy and real estate. Miller Global Properties, one of the various “small”’companies that they have a leading ownership in, is notable for controlling various landmark properties, such as the Pebble Beach golf course, the Aspen ski resort and the Bevely Hills Hotel. Idan Ofer and his wife Batia both quit the Harvard Kennedy School Dean’s Executive Board in an attempt to pressure the university to crack down on the outcry of pro-Palestinian sentiment on the campus. Idan Ofer’s companies have been at the heart of multiple chemical leak and environmental scandals in Israel. Eyal was formerly an intelligence officer in the Israeli Air Force; he now resides in Monaco.
Bill Ackman – Ackman is an American billionaire who runs Pershing Square Capital, a hedge fund with about $20 billion under management. Ackman owns $4 billion personally. Pershing Square Capital holds significant shares of major US companies, including a 10 percent ownership of Target, one percent of Procter & Gamble, 10 percent control of Chipotle, a 7 percent share of Universal Music Group, and over a billion dollars in Netflix. Ackman is currently leading a vicious campaign to oust Harvard President Claudine Gay. Previously Ackman fought to get Harvard to release all the names of students who signed a pro-Palestinian statement, demanding that employers refuse to hire these students.
Ken Griffin – Griffin is the 35th richest person in the world, with over $37 billion in assets. He is the CEO of Citadel, a massive $52 billion hedge fund based in Miami. Citadel owns a significant share in some of the largest technology and bioscience companies, including Microsoft, Activision, Boston Scientific, Nvidia, Humana, Apple, Comcast, Merck, and Adobe. Griffin has donated over half a billion dollars to Harvard and is pressuring the university to adopt a stronger pro-Israel stance.
Cliff Asness – Asness is an American billionaire who founded AQR Capital Management, which has over $100 billion under management. Asness severed all his donations to the University of Pennsylvania and has publicly begun a campaign to pressure the university to stop “support[ing] evil.” In a diatribe published in the Wall Street Journal, he described the pro-Palestinian protests as a reflection of the “deep and systematic rot on elite college campuses.”
Marc Rowan – Rowan is co-owner of Apollo Asset Management, one of the largest private equity firms. He has over $6 billion in personal wealth. He halted his donations to University of Pennsylvania, using “Wall Street tactics to ‘strong-arm’” the university, in the words of Business Insider. Apollo has sprawling investments in real estate, cruise companies (Norwegian, Regent), hotels (Harrah’s Entertainment), education (McGraw Hill), entertainment (Chuck E. Cheese), private security (ADT) and retail (Smart and Final). Apollo co-founder Leon Black was formerly CEO of the company before revelations emerged that he had paid Jeffrey Epstein over $100 million for tax planning and consulting services.
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