University of Texas endowment worth more than than the wealth of 102 countries

Houston Chronicle:

  • <p><strong>#2. University of Texas System (system-wide)</strong></p>
<p>- Location: Austin, TX,<br />
- 2018 endowment: $30.9 billion (up 16.4% from 2017)<br />
- More wealth than: 102 countries<br />
- Wealth equal to: Papua New Guinea ($28.1B) and</p>

Photo: F11photo // Shutterstock
#2. University of Texas System (system-wide)
- Location: Austin, TX,
- 2018 endowment: $30.9 billion (up 16.4% from 2017)
- More wealth than: 102 countries
- Wealth equal to: Papua New Guinea ($28.1B) and
... more
UT's endowment is second only to that of Harvard. Texas A&M came in eighth on the list and is more than that of 73 countries. It is amazing how much wealth can be accumulated when you don't have to pay taxes.  Texas has the benefit of a Permanent University Fund which receives royalties from Permian Basin oil and gas wells.  A&M also gets some of that.  When Texas came into the Union, it offered to give the US all of the REpublic owned lands in return for canceling a national debt of around a million dollars.  The US refused the deal and a few decades later oil was discovered under much of that land in West Texas.

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