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Ackman has long been at odds with Harvard, criticizing the university for not doing enough to protect students from antisemitism. Early last year he launched an unsuccessful bid to get four candidates on the ballot for a governing board. The U.S. Department of Education informed Harvard on Monday that it was freezing billions of dollars in future research grants and other aid until the university concedes to a number of demands from the Trump administration, a senior department official said.

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Harvard is "a collection of buildings, nice real estate" located in Cambridge, Massachusetts next to the Charles River, he said. He also again hit out at the school's governing board, saying it has become insular and that there is no mechanism to remove members the way there is in corporate America where investors can run board challenges. BEVERLY HILLS, May 6 (Reuters) - Billionaire investor Bill Ackman on Tuesday said Harvard University, one of the nation's oldest and wealthiest, should not be entitled to taxpayer funds when the school wastes money on what he calls "administrative bloat." Harvard responded that the administration letter doubles down on demands that would impose "unprecedented and improper control" over the university and makes new threats to "illegally" withhold funding for Online English As Second Language PRE-K5 Grade Tutoring lifesaving research.

"What happens when you have a board that can self-appoint itself, and it becomes insular, and with a $53 billion endowment, they think, okay, we can just do whatever is on our mind.