Who is Leon Cooperman? Hedge Fund billionaire vows to suspend Columbia University’s donation amid students’ protest against Israel

In a Fox Business interview on Wednesday, October 25, American Hedge Fund billionaire Leon Cooperman pledged to suspend his donations to Columbia University. A Columbia Business School alum himself, Cooperman's decision came as a response to a massive pro-Palestine student walkout on Wednesday protesting the university's ties to Israel and the U.S. funding of the conflict.

Cooperman, who claimed to have donated around $50 million to his alma mater, was enraged and stated that the students had "s**t for brains." According to Forbes, the 80-year-old commands an astounding net worth of $2.8 billion and was referred to as a "Wall Street legend."

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The billionaire son of a plumber, Leon Cooperman

Leon Cooperman is a household name in every business circle in the United States. He founded of the New York-based Omega Advisors, an investment advisory firm with over $3.3 billion in assets under their management. According to an estimation by Forbes, Cooperman is the 1,056th wealthiest human being in the world, with a net worth of $2.8 billion.

A Jewish New York City native, Leon Cooperman was born to Polish immigrants in the South Bronx. His father was a plumber. As a youngster, he worked several jobs, like packing fruit, fixing flat tires, and even ushering in theaters. Starting off as a quality control engineer for Xerox after graduating from Hunter College, he joined Columbia Business School, where he graduated with an MBA in 1967.

Cooperman is famous for his time at Goldman Sachs, joining the investment bank immediately after his Columbia graduation. Forbes credits him with building up the asset management division, GSAM, at Goldman Sachs. Leon Cooperman spent 25 years in the firm before retiring as a Goldman Sachs & Co. general partner and the Goldman Sachs Asset Management CEO and Chairman.

Labeled a "Wall Street legend" by Forbes, he started Omega Advisors in 1991, a hedge fund with a solid performance that peaked at $10 billion in assets. However, it was eventually shut down in 2018 and eventually converted into a family office. In the past few years, he has begun shifting assets into his charitable foundation, and according to Forbes, he plans to give most of it away eventually.

He is a signatory of The Giving Pledge, doing so in 2010. In 2011, he donated $25 million to Columbia Business School to construct new facilities in the Manhattanville neighborhood. He launched the Cooperman College Scholars Fund in 2015 to assist high-achieving students in pursuing higher education in the form of a 4-year scholarship fund.

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"I think these kids at the colleges have s**t for brains": Leon Cooperman

According to the Columbia Spectator, hundreds of Columbia University affiliates gathered at the Low Steps as part of a walkout protesting the university's ties to Israel and the violence in Gaza and Israel. The Spectator stated that the students demanded an end to "Israel’s siege on Gaza and U.S. funding of the genocide of Palestinians."

They also protested the opening of the Tel Aviv Global Center and mounted pressure on the university to cut ties with investors that profited from Israel's activities in Palestinian territories. The publication quoted one student protestor as saying:

"We want a ceasefire. We want Columbia to divest from all of these companies."

The student further stated:

"We’re here to speak out for the Palestinian people, the people in Gaza who are currently being massacred. That’s all we’re here for."

On Tuesday's The Claman Countdown segment on Fox Business, Leon Cooperman expressed his displeasure at the Columbia University walkout. Liz Claman mentioned that the protests were driven by Columbia professor Joseph Massad, who recently came under fire for calling the Hamas attacks "awesome" and a "stunning victory," in an October 8 article on The Electronic Intifada.

Leon Cooperman stated:

"I think these kids at the colleges have s**t for brains."

He further argued:

"We have one reliable ally in the Middle East, that’s Israel. We only have one democracy in the Middle East, that’s Israel, okay? And we have one economy tolerant of different people, gays, lesbians, etc. And that’s Israel."

He said that the students had no idea what they were doing before declaring:

"Now, the real shame is I’ve given to Columbia probably about $50 million over many years, and I’m going to suspend my giving. I’ll give my giving to other organizations."

He declared that this was his stance unless he saw a change. He talked about how he told the university to fire Joseph Massad for praising the activities of Hamas, an action which he called "disgusting."