• 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
Fortune Secondary Logo
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
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • 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
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • 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

brian
CommentaryCulture
The real engine of innovation is trust
By Brian DoublesMarch 31, 2026
7 hours ago
A man points to a white board during a meeting
Workplace CultureOffice Culture
Liking corporate BS may be a sign you’re bad at decision-making, Cornell expert finds
By Jacqueline MunisMarch 31, 2026
8 hours ago
Mother and daughter using laptop at swimming pool area
SuccessColleges and Universities
More parents are done pushing college. 1 in 3 are now betting on trade school instead
By Sydney LakeMarch 31, 2026
8 hours ago
Business man shakes hand
SuccessCareers
As AI threatens to replace tech jobs, startups are desperate for top talent—and some firms are paying tech-savvy grads over $300,000
By Preston ForeMarch 31, 2026
11 hours ago
marc andreessen
AILayoffs
Marc Andreessen says AI layoffs are a farce: Companies are 75% overstaffed, and AI is the ‘silver bullet excuse’ to clean house
By Jake AngeloMarch 31, 2026
11 hours ago
Parent with Gen Z adult kid talking about money
SuccessPersonal Finance
Two-thirds of parents say their adult Gen Z kids still rely on them financially  for support—even though it’s putting them under strain
By Emma BurleighMarch 31, 2026
11 hours ago

Most Popular

Jerome Powell says the $39 trillion national debt is ‘not unsustainable,’ but warns the trajectory ‘will not end well’
Economy
Jerome Powell says the $39 trillion national debt is ‘not unsustainable,’ but warns the trajectory ‘will not end well’
By Fortune EditorsMarch 30, 2026
1 day ago
A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete
AI
A man used AI to call 3,000 Irish bartenders to track the cost of Guinness. Now pubs are lowering their prices to compete
By Fortune EditorsMarch 30, 2026
1 day ago
A CEO trying to reindustrialize America says blue-collar pay is headed for 'massive hyperinflation' and kids should skip college to become welders
Success
A CEO trying to reindustrialize America says blue-collar pay is headed for 'massive hyperinflation' and kids should skip college to become welders
By Fortune EditorsMarch 30, 2026
1 day ago
Markets cheer as Trump threatens to abandon Iran war, but Jamie Dimon sides with allies: ‘Win this thing and clean up the straits’
Energy
Markets cheer as Trump threatens to abandon Iran war, but Jamie Dimon sides with allies: ‘Win this thing and clean up the straits’
By Fortune EditorsMarch 31, 2026
12 hours ago
The federal government shed 385,000 employees last year. Now the Trump administration is on a blitz to hire Gen Z workers
Politics
The federal government shed 385,000 employees last year. Now the Trump administration is on a blitz to hire Gen Z workers
By Fortune EditorsMarch 31, 2026
21 hours ago
Current price of gold as of March 30, 2026
Personal Finance
Current price of gold as of March 30, 2026
By Fortune EditorsMarch 30, 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.