Harvard confirms Claudine Gay will remain prez— despite reported $1B loss over antisemitism scandal

Harvard University announced Tuesday that under-fire President Claudine Gay will keep her job — even after reportedly losing more than $1 billion in donations since her disastrous congressional testimony about antisemitism.

The Harvard Corporation — the university’s highest governing body — made its announcement Tuesday following night-long talks between Gay and university leaders, a source familiar with the decision told the student newspaper, the Harvard Crimson.

“As members of the Harvard Corporation, we today reaffirm our support for President Gay’s continued leadership of Harvard University. Our extensive deliberations affirm our confidence that President Gay is the right leader to help our community heal and to address the very serious societal issues we are facing,” the group said in a statement.

It acknowledged that the university should have released an “immediate, direct and unequivocal condemnation” of Hamas’ terror attack on Oct. 7, noting “Calls for genocide are despicable and contrary to fundamental human values” — in apparent contrast to Gay’s testimony last week.

“President Gay has apologized for how she handled her congressional testimony and has committed to redoubling the university’s fight against antisemitism,” the group wrote.

Regarding accusations that Gay plagiarized numerous portions of her 1997 Ph.D. thesis in direct violation of Harvard’s academic integrity policies, the Harvard Corporation said officials became aware of claims of plagiarism in late October and initiated an independent review.

“On Dec. 9, the Fellows reviewed the results, which revealed a few instances of inadequate citation.

“While the analysis found no violation of Harvard’s standards for research misconduct, President Gay is proactively requesting four corrections in two articles to insert citations and quotation marks that were omitted from the original publications.”

Still, the fellows said, “In this tumultuous and difficult time, we unanimously stand in support of President Gay.

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“At Harvard, we champion open discourse and academic freedom, and we are united in our strong belief that calls for violence against our students and disruptions of the classroom experience will not be tolerated.

“Harvard’s mission is advancing knowledge, research, and discovery that will help address deep societal issues and promote constructive discourse, and we are confident that President Gay will lead Harvard forward toward accomplishing this vital work,” it added.

It is unclear what led the board to make the controversial decision to ignore fervent calls for her firing days after University of Pennsylvania president Liz Magill lost her job over similar testimony failing to condemn calls for genocide.

Billionaire hedge fund manager Bill Ackman claimed the board did not want to seem like it was simply bowing to his public demands for her ouster.

“I have been told now by two reporters that one of the factors that made it challenging for the Harvard board to fire Gay was that they were concerned it would look like they were kowtowing to me,” claimed Ackman of his public criticism and calls for action.

“In other words, the reporters explained, quoting the trustees: ‘Had Bill just stopped tweeting, we would have come to the right answer,’” he claimed.

“So much for ‘Veritas,’” he said, referring to the Latin word for “truth” that is part of Harvard’s motto.

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Ackman, the CEO of Pershing Square, has made a name for himself as an outspoken critic of Ivy League presidents whom he accuses of failing to stamp out antisemitism on campuses.

That escalated after Gay, Magill and Massachusetts Institute of Technology President Sally Kornbluth failed to condemn calls for the genocide of Jews at their schools during a fiery congressional hearing.

As well as the hit on its reputation, Harvard has suffered a staggering financial loss in the scandal, the hedge funder claimed.

“President Gay’s failures have led to billions of dollars canceled, paused and withdrawn donations to the university,” he wrote in a letter to the school’s governing board of directors on Sunday, which he also posted online.

“I am personally aware of more than a billion dollars of terminated donations from a small group of Harvard’s most generous Jewish and non-Jewish alumni.

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“I have been copied and blind copied on numerous letters and emails to the university from alums who have written scathing letters to Gay and/or the boards, withdrawing donations,” Ackman claimed.

He went on to accuse Gay of “doing more damage to Harvard’s reputation than anyone in the university’s history.”

Ackman has also previously claimed that Gay was hired as president due to the school’s Diversity, Equity and Inclusion initiative — and shared accusations that the university president of plagiarizing numerous portions of her 1997 Ph.D. thesis in direct violation of Harvard’s academic integrity policies.

Still, the Executive Committee of Harvard University Alumni’s Association said Monday it would stand by her.

“President Gay is the right leader to guide the University during this challenging time,” the group wrote in a letter obtained by the Harvard Crimson.

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“She is thoughtful. She is kind. She is resolutely dedicated to the growth and well being of our very diverse community.

“We recognize that there was disappointment in her testimony this past week,” the letter continues.

“President Gay has pointed this out and apologized for any pain her testimony caused — a powerful demonstration of her integrity, determination and courage.”

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The Post has reached out to Harvard for comment.