1984 Wharton graduate and chair of the Wharton Board of Advisors Marc Rowan said that elite universities have provoked federal scrutiny from the second Trump administration and should be reformed in an interview with Barron’s on Thursday.
During the May 22 interview, Rowan — who has previously donated to Penn — alleged that universities have “brought [federal action] on themselves” by “bragging” about their wealth, exclusivity, and political uniformity. Rowan also stated his belief that recent government actions have signaled the necessity of a “fundamental rethink of what [higher education institutions] do and how they’re run and their purpose.”
“Imagine sitting in a seat in D.C. where a core group of universities is bragging about the size of their endowment and how few students they admit,” Rowan said. “That does not sound like a great marketing campaign, not to mention that 95% of faculty administrators come from one political party.”
Rowan declined a request for comment.
The Apollo Global Management CEO also told Barron’s that “universities are not corporations," so there are no “easy means of governance” through which higher education institutions can be reformed, citing “lots of competing interests.”
Rowan also claimed that legal battles between the federal government and elite universities “are not going to result in systemic reform,” citing Columbia University and Harvard University as examples.
Rowan reiterated his “belief that universities and colleges in the U.S. are a fundamental strategic advantage,” adding that he believes the federal government needs to “fundamentally reform the system” for them to “be exceptional and to win.”
“I believe the Administration has captured universities’ attention,” Rowan said. “I think the [Trump] administration is in a position to get wholesale reform, and I hope they take the opportunity to do it.”
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Public records reveal that Rowan has donated to both Republican and Democratic causes, including a $1 million contribution to Trump Victory in 2020. In November 2024, 1968 Wharton graduate and President Donald Trump was reportedly considering Rowan for the role of Treasury secretary in his cabinet. The role was later filled by Scott Bessent.
In the fall of 2023 and winter of 2024, Rowan led the call for the resignation of Penn’s senior administrators, alleging that they failed to adequately respond to the Palestine Writes Literature Festival and the aftermath of the Oct. 7, 2023 Hamas attack on Israel. Rowan’s campaign culminated in the resignations of former Penn President Liz Magill and former Board of Trustees Chair Scott Bok.
