• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Leadership

Harvard is investing $100 million in an effort to try and make amends for its role in slavery

By
Collin Binkley
Collin Binkley
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Collin Binkley
Collin Binkley
and
The Associated Press
The Associated Press
Down Arrow Button Icon
April 26, 2022, 3:06 PM ET
Harvard University campus
A view of the campus of Harvard University on July 08, 2020 in Cambridge, Massachusetts. Harvard is investing $100 million in an effort to make amends for its role in slavery.Maddie Meyer—Getty Images

Harvard University is vowing to spend $100 million to research and atone for its extensive ties with slavery, the school’s president announced Tuesday, with plans to identify and support the descendants of enslaved people who labored at the Ivy League campus.

President Lawrence Bacow announced the funding as Harvard released a new report detailing many ways the college benefited from slavery and perpetuated racial inequality.

The report, commissioned by Bacow, found that Harvard’s faculty, staff and leaders enslaved more than 70 Black and Native American people from the school’s founding in 1636 to 1783. It cautions that the figure is “almost certainly an undercount.” Using historical records, researchers were able to identify dozens of enslaved people by name, along with their connection to the university.

“Enslaved men and women served Harvard presidents and professors and fed and cared for Harvard students,” researchers found. “Moreover, throughout this period and well into the 19th century, the University and its donors benefited from extensive financial ties to slavery.”

The report says the university “should make a significant monetary commitment, and it should invest in remedies of equal or greater breadth than other universities.” But the report stops short of recommending direct financial reparations, and officials have no immediate plans for that kind of support.

Bacow said Harvard will attempt to redress its wrongs through “teaching, research and service.” He is creating a committee to implement the report’s suggestions.

Building on earlier research at Harvard, the report details how the nation’s oldest and wealthiest college profited from the slave trade throughout its early history. It invested directly in the sugar and rum industries in the Caribbean, and the cotton and railroad industries in the United States. It also depended on wealthy donors who accumulated their wealth through the slave trade and industries that relied on it.

Later, after slavery was abolished, prominent scholars continued to promote concepts that fueled ideas of white supremacy, the report says. It cites work by 19th century professor Louis Agassiz, who pushed discredited theories on “race science” and eugenics. Another scholar led a “physical education” program on campus that collected students’ physical measurements to advance eugenic theories.

In his message, Bacow called the findings “disturbing and shocking,” and he acknowledged that the school “perpetuated practices that were profoundly immoral.”

“Consequently, I believe we bear a moral responsibility to do what we can to address the persistent corrosive effects of those historical practices on individuals, on Harvard, and on our society,” he wrote.

The 130-page report included a series of recommendations that Bacow endorsed. The $100 million will be used to carry out the work, including some funding that will be available now and more to be held in an endowment. The university itself has an endowment of more than $50 billion, the largest in the nation.

The report calls on Harvard to identify the direct descendants of enslaved people and engage with them “through dialogue, programming, information sharing, relationship building, and educational support.”

“Through such efforts, these descendants can recover their histories, tell their stories and pursue empowering knowledge,” the report said.

In acknowledgement of the enslavement of Native Americans, the report also calls on Harvard to build closer ties with New England tribes. Harvard should recruit more students from tribal communities, the report says, and organize a national conference promoting research on colonialism and the enslavement of Indigenous people.

The report calls on Harvard to help address racial inequities in the United States and the Caribbean, including through expanded education programs for underserved communities. And it urges the university to build closer relationships with historically Black colleges across the country, with funding to bring students and scholars to Harvard for up to a year at a time.

Harvard joins a growing number of U.S. universities taking steps to acknowledge and make amends for their involvement with slavery.

Georgetown University in 2019 promised to raise $400,000 a year for the descendants of enslaved people sold by the school. The Princeton Theological Seminary created a $27.6 million reparative endowment. The University of Virginia established scholarships for the descendants of enslaved people.

Harvard formally began exploring its ties to slavery in 2016, when former President Drew Gilpin Faust acknowledged that the school was “directly complicit in America’s system of racial bondage.” Faust organized a committee to study the topic and had a plaque installed on campus honoring enslaved people who labored there.

Bacow commissioned the new report in 2019, building on that work.

“The Harvard that I have known, while far from perfect, has always tried to be better—to bring our lived experience ever closer to our high ideals,” Bacow wrote. “In releasing this report and committing ourselves to following through on its recommendations, we continue a long tradition of embracing the challenges before us.”

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.
About the Authors
By Collin Binkley
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

SuccessMost Powerful Women
Jennifer Garner’s Once Upon a Farm IPO jumps 40% as the company raises $198 million
By Emma HinchliffeFebruary 9, 2026
3 minutes ago
RetailFortune 500
The man who fixed Walmart’s grocery was just appointed CEO of Kroger’s
By Phil WahbaFebruary 9, 2026
1 hour ago
Musk stands in front of a flag in the Oval Office
C-SuiteElon Musk
‘Don’t look at the résumé’: Elon Musk admits he’s ‘fallen prey’ to flashy credentials but says conversation matters most when hiring
By Jacqueline MunisFebruary 9, 2026
1 hour ago
Allen
C-SuiteSports
Meet Jody Allen, the billionaire owner of the Seattle Seahawks, who plans to sell the team and donate the proceeds to charity
By Jake AngeloFebruary 9, 2026
1 hour ago
Cheerful young man
SuccessWealth
Billionaire Jenny Just says she could have saved ‘10 years of losses’ if she had learned this skill sooner from playing poker
By Preston ForeFebruary 9, 2026
3 hours ago
David Risher, wearing a patterned shirt, speaks in front of a bright magenta background.
C-SuiteLyft
Lyft CEO David Risher is still a driver for the company: It made him realize being even one minute late could cost the customer their job
By Sasha RogelbergFebruary 9, 2026
4 hours ago

Most Popular

placeholder alt text
Economy
Elon Musk warns the U.S. is '1,000% going to go bankrupt' unless AI and robotics save the economy from crushing debt
By Jason MaFebruary 7, 2026
2 days ago
placeholder alt text
Economy
Russian officials are warning Putin that a financial crisis could arrive this summer, report says, while his war on Ukraine becomes too big to fail
By Jason MaFebruary 8, 2026
24 hours ago
placeholder alt text
Commentary
America marks its 250th birthday with a fading dream—the first time that younger generations will make less than their parents
By Mark Robert Rank and The ConversationFebruary 8, 2026
1 day ago
placeholder alt text
Economy
China might be beginning to back away from U.S. debt as investors get nervous about overexposure to American assets
By Eleanor PringleFebruary 9, 2026
9 hours ago
placeholder alt text
Commentary
We studied 70 countries' economic data for the last 60 years and something big about market crashes changed 25 years ago
By Josh Ederington, Jenny Minier and The ConversationFebruary 8, 2026
1 day ago
placeholder alt text
Success
Gen Z Patriots quarterback Drake Maye still drives a 2015 pickup truck even after it broke down on the highway—despite his $37 million contract
By Sasha RogelbergFebruary 7, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.