Amidst all the news of declining endowments, more distressing news from the Ivy League: Princeton has settled a dispute with the heirs of the A&P supermarket fortune. The University will pay the Robertson family $100 million—"the largest donor-intent settlement in history," according to the plaintiff—and in return will gain full control over the family's $700-900 million endowment. The Robertsons originally gave $35 million to Princeton in 1961, but the descendants of the original donors complain that Princeton did not use the money for its intended purpose: to train graduate students to serve in federal government. $50 million of the settlement will be distributed by the Robertsons to other universities, while $40 million will go toward the family's legal fees.
Read it at The Wall Street Journal
