In a powerful show of dissatisfaction, billionaire Marc Rowan and a group of influential Wall Street executives are rallying to halt donations to some of the nation's top universities. The donors are expressing their frustration at the schools' handling of the Israel-Hamas war.

Rowan, the CEO of private equity giant Apollo Global Management, is one of the prominent figures spearheading this donor revolt, having reached out to numerous finance executives to join the cause. Anonymous sources revealed that Rowan participated in a Zoom call on October 23 with wealthy donors from Ivy League schools like Yale University and Harvard University. During the call, the group discussed the possibility of pausing their financial support to express their concerns.

Penn alumni and donors have also joined the movement, with at least 400 individuals participating in a recent call where frustrations with the university's leadership were expressed. Rowan himself took the stage during the call, shedding light on his own grievances with the school's response. Communication among disgruntled donors extends beyond these calls, as Rowan and other finance executives are engaging in text message chains to voice their concerns.

Among those involved in these text exchanges is Bill Ackman, the CEO of hedge fund Pershing Square. However, both Ackman and Rowan have declined to provide comment on the matter. Other influential figures, such as investors David Magerman and Leon Cooperman, have also expressed their intention to stop donations in protest of how the universities have addressed the Israel-Hamas conflict.

Rowan, known for his extensive network of business and political connections, is using his influence to rally wealthy donors against schools that heavily rely on their contributions. In 2018, Rowan made a record-breaking $50 million donation to the Wharton School at the University of Pennsylvania, where he currently chairs the board of advisors.

Jeffrey Sonnenfeld, a senior associate dean at the Yale School of Management, emphasized the importance of funders as a critical governance structure and their ability to demand management accountability if they perceive failure in leadership oversight.

The impact of Rowan's efforts is already becoming evident. Notably, longtime investor Steve Eisman withdrew his family's name from a scholarship at Penn after hearing Rowan's criticisms of the university in an interview. Eisman stated that he did not want his family associated with the University of Pennsylvania.

Rowan's frustration with Penn stems from the school's response to the Palestine Writes Literature Festival held on campus in September, shortly before the deadly Hamas attack on Israel. Although Rowan does not take issue with the festival itself, he criticizes Penn for not publicly condemning the event, including in the aftermath of the Hamas attacks.

Calling for the resignation of Penn's president, Elizabeth Magill, and chairman, Scott Bok, Rowan has urged fellow donors and alumni to refrain from donating until his demands are met. In response, Magill announced a university-wide plan to combat antisemitism, including the formation of a task force on antisemitism.

The impact of Rowan's call to stop donations has reached even Washington, with Senate Minority Leader Mitch McConnell praising the effort without directly naming Rowan. Speaking on the Senate floor, McConnell acknowledged the potential billion-dollar hole in Penn's finances as a consequence of the alumni boycott.

The revolt led by Wall Street titans against Ivy League universities over their response to the Israel-Hamas war is shaking the institutional foundations and sparking discussions about the influence of major donors on university leadership. As the movement gains momentum, its repercussions are sending shockwaves through the prestigious educational institutions.