Venture capitalist David Magerman, who previously donated $5 million to the University of Pennsylvania, halted his financial support of the institution shortly after the outbreak of the war in Gaza. His decision was prompted by the school’s refusal to take action against the spread of antisemitism on campus and its failure to protect Jewish students from members of the pro-Hamas crowd, which held numerous demonstrations on the premises while threatening Jewish students.

Magerman recently announced that he plans to reallocate the funds he previously sent to UPenn to five Israeli colleges in $1 million increments. These include Tel Aviv University, Technion-Israel Institute of Technology, Bar-Ilan University, and Jerusalem College of Technology.

“I don’t see much value generated by giving to American universities. I think that liberal colleges in America are flawed institutions that are doing a poor job of preparing students for the real world,” he told Fox News.

Magerman urged other donors to follow his lead, arguing that universities are not “reformable.”

Asked what his message is to other prominent Jewish donors still contributing to Ivy League schools, Magerman said pointedly, "Stop." He said it's naive to believe that elite U.S. universities are "reformable."

"They're fulfilling the mission they want to fulfill. Their goal, it seems, is to indoctrinate their students to question the validity of Western civilization, to question the value of the Founding Fathers and to criticize Western society. I don't think that's what these philanthropists believe and I don't think that they should be donating money to support propagating that ideology," said Magerman.

Other high-profile donors have taken similar steps. Ross Stevens, CEO of Stone Ridge Asset Management, canceled a $100 million donation to UPenn in December over similar concerns.