Billionaires Putting Their Money Into “Anti-Woke” University of Austin (UATX)

Many wealthy donors have become increasingly critical of the woke political leanings of elite institutions. These billionaires are reportedly frustrated with what they see as the ideological tilt and diminishing debate at Ivy League schools, and rightly so. That’s why the University of Austin (UATX), a new startup university in Texas, has raised over $200 million from several billionaires. The donors include real-estate developer Harlan Crow, trader Jeff Yass, and investor Len Blavatnik, according to The Wall Street Journal.

The University of Austin was launched by a group of higher education critics who believe universities have abandoned their commitment to open inquiry, free speech, and civil discourse. Crow says that he sees UATX as a haven for fostering ideological diversity, a value he believes is underrepresented at many universities. Lucca Favetto, UATX Class of ’28, is hopeful that “UATX will serve as a model for these universities as they seek to rebuild their reputations.”

UATX prides itself on being non-partisan. Its mission is to foster open debate and academic freedom. “At the University of Austin, we will reason, argue, and advance our views without fear of ostracism. Higher education has an essential calling: to defend rational thinking in the pursuit of truth.”

The University of Austin was first announced in the fall of 2021, with founders like venture capitalist Joe Lonsdale and journalist Bari Weiss. The school has attracted several high-profile supporters including PayPal co-founder Peter Thiel and energy trader John Arnold, whose contributions continue to boost UATX’s profile.

Inaugural Class

The University of Austin welcomed its inaugural class of 92 students to campus on September 9, 2024. Students were reportedly given a copy of Homer’s Odyssey when they enrolled. The curriculum blends classical texts with modern entrepreneurial principles, aiming to balance traditional education with practical skills.

The Texas Higher Education Coordinating Board has granted a Certificate of Authority for UATX to award Bachelor of Arts in Liberal Studies degrees. However, UATX is currently unaccredited, meaning students are taking a leap of faith, though the entire first class has received four-year full-tuition scholarships, valued at $130,000. The school is working towards getting accreditation, which it can only obtain after its inaugural class graduates.

UATX’s undergraduate program immerses students in a vibrant community that emphasizes academic rigor, civil discourse, and overcoming real-world challenges. As the intellectual hubs of UATX, Academic Centers differ from traditional academic departments in being a combination of interdisciplinary research institutes, think tanks, and startup incubators. Students will collaborate with accomplished scholars and researchers in the Center for Science, Technology, Engineering, & Mathematics (CSTEM), the Center for Economics, Politics, & History (CEPH), and/or the Center for Arts & Letters (CAL).

The campus is located at 522 Congress Avenue in Austin, Texas. “We are old school,” they say. “We believe human beings think and learn better when they gather in person, in dedicated locations—where they are, to some extent, insulated from the quotidian struggle to make ends meet, and where there is no fundamental distinction between those who teach and those who learn, beyond the extent of their knowledge and wisdom.”

Reshaping Higher Education

During the school’s convocation, President Pano Kanelos referred to the students and faculty as pioneers and heroes, emphasizing their role in reshaping higher education. President Kanelos stresses that the university’s donors come from across the political spectrum, united by a common criticism of the current state of higher education.

“Much of higher ed today seems to want to reject Western accomplishments and the accomplishments of Western civilizations in their entirety,” Crow said, according to the WSJ. “Many people think that’s a bad idea.”

At the same time, billionaires such as Marc Rowan and Bill Ackman have been going after Ivy League presidents for not being tough enough on antisemitism on campuses following the Hamas attack on Israel that occurred October 7th last year.

In the aftermath of the brutal massacre of 1,400 innocent Israeli civilians, fundraising for UATX accelerated, drawing donations from individuals concerned about how free speech appeared to be selectively applied on campuses. For example, Daniel Lubetzky, founder of KIND Snacks and the son of a Holocaust survivor, donated to UATX after the attacks.

A video on the University of Austin’s YouTube page shows scenes of anti-Israel protests and encampments at other schools contrasted with a civil UATX seminar. The message at the end of the video is, “They burn, we build.”

With a larger fundraising campaign expected to launch in January, UATX hopes to continue its mission of fostering ideological diversity and redefining the future of education in the United States.

New Applicants

The members of the UATX Class of 2029 will be joining a unique cohort of builders and innovators who partner with University faculty and staff to help build America’s next great university. In recognition of the significant vision, character, and commitment it takes to establish a new institution, each student enrolled in Fall 2025 will receive a scholarship covering the full cost of undergraduate tuition for four years (a value of approximately $130,000)! The Founders Scholarship means students will graduate without having spent a single dollar on tuition. What are you waiting for? Apply now! For more information, including terms and conditions, see Founders Scholarships.

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Whether UATX will attract more students – and if it can match the ambitions of its deep-pocketed donors – remains to be seen. It’s definitely an interesting development in the higher education landscape. What are your thoughts on this new university?