Tudor's Jones May Have Had Hand In U. Va. Pres.'s Ouster

Jun 25 2012 | 1:30pm ET

Tudor Investment Corp.'s Paul Tudor Jones has been very active at his alma mater, the University of Virginia, in recent years, paying for the school's new basketball arena and pledging $12 million for a "contemplative center." But his most recent—alleged—project could go up in smoke tomorrow.

According to media reports, Jones, who graduated from U. Va. in 1976, had a hand in forcing the resignation of the school's president, Teresa Sullivan. But that move has led to a virtual rebellion on the Charlottesville campus, with 10 of the school's 11 deans and its Faculty Senate demanding she be reinstated. U. Va.'s Board of Visitors, whose leader, Rector Helen Dragas, led the push to push Sullivan out, will vote on that proposition tomorrow.

Jones is not among the outraged at Sullivan's ouster. In fact, he contributed an op-ed piece to the school's newspaper, the Daily Progress, cheering it, saying it was "time for a revolution."

"President Sullivan's departure is a clarion call from the Board of Visitors that business as usual is not acceptable anymore," Jones wrote. "Why be good when there is outstanding to be had?"

Jones criticized U. Va.'s falling U.S. News and World Report ranking and its competitive weakness—read: money—against the U.S.'s best private universities. But Jones, whose column was published a week after Sullivan's resignation was announced, may have known about it long before then.

On the day Sullivan was ousted, June 10, another financier, venture capitalist Peter Kiernan, resigned as chairman of the U. Va. business school, writing that several weeks before, he was contacted by "two important Virginia alums" who asked for his help on a "project" with Dragas—meaning Sullivan's removal was hardly the confidential, personal decision its was portrayed as being. One of those two, Charlottesville's The Hook reports, was Jones.

And Jones, reportedly considering a nine-figure gift to U. Va., apparently lacked faith that Sullivan had the "strategic dynamism," as Dragas put it, to raise enough money for the school.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Top 5 Predicted Outcomes Of CalPERS' Hedge Fund Divestment

Sep 22 2014 | 8:35am ET

CalPERS’ announcement to divest of hedge funds has created a significant buzz...

 

Videos

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.