Texas Endowment at $31 Billion Passes Yale With Oil's Help
- University of Texas was fueled by Permian Basin mineral rights
- Abilene Christian’s huge energy bet produced a top return
Precision Drilling oil rig operators work on a oil rig near Mentone, Texas.
Photographer: Matthew Busch/BloombergThis article is for subscribers only.
Oil has been very good to university endowments in Texas.
It was so good in the year through June 30 that the University of Texas saw the value of its endowment reach $31 billion, surpassing Yale to become the second-largest endowment in U.S. higher education, according to data compiled by Bloomberg.