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

Trendingnow

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

3

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

3

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
LawHarvard University

Summers to take leave of absence during Harvard investigation

By
Janet Lorin
Janet Lorin
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Janet Lorin
Janet Lorin
and
Bloomberg
Bloomberg
Down Arrow Button Icon
November 19, 2025, 10:16 AM ET
Larry Summers
Former Treasury Secretary Larry Summers attends the Allen & Company Sun Valley Conference on July 9, 2025 in Sun Valley, Idaho. Kevin Dietsch/Getty Images

Harvard University will undertake a new investigation into its ties to Jeffrey Epstein after correspondence between the late sex offender and the school’s former president was made public by US lawmakers. 

Recommended Video

Following the disclosure, former Harvard President Larry Summers said that he would step back from public commitments. On Wednesday, a spokesperson for Summers said he would “go on leave” from his role as director of the Mossavar-Rahmani Center for Business and Government. Co-instructors will take over the remainder of his classes this semester, and Summers isn’t scheduled to teach next semester.

“The university is conducting a review of information concerning individuals at Harvard included in the newly released Jeffrey Epstein documents to evaluate what actions may be warranted,” a spokesperson for the school said in a statement. 

The probe ramps up the pressure on Summers, 70, as he nears the twilight of one of the most prominent careers in American economics, an arc that includes prize-winning research and a stint as US Treasury secretary. Earlier this week, Summers said he was “deeply ashamed” of his actions and took responsibility for “my misguided decision to continue communicating with Mr. Epstein.”

Through a spokesperson, Summers declined to comment on Harvard’s new investigation, which was reported earlier by the Harvard Crimson. The university had previously disclosed a range of connections to Epstein in a 2020 report. 

That report showed the school received more than $9 million in gifts from Epstein between 1998 and 2008 to support research and faculty activities. It also disclosed that no gifts were received from Epstein following his conviction in 2008 after he pled guilty to two sex charges in state court. The report came out as Epstein’s ties to some of the world’s wealthiest men and elite institutions were revealed, including donations and frequent visits to the Massachusetts Institute of Technology. 

Summers’ retreat from public commitments includes his role as a paid contributor to Bloomberg Television, a Bloomberg News spokesperson confirmed this week. He’s also leaving the board of OpenAI, the artificial-intelligence company said Wednesday. 

The House Committee on Oversight and Government Reform last week released 20,000 documents from Epstein’s estate. The disclosure by House Democrats included exchanges between Epstein and many high-profile figures, including former Trump adviser Steve Bannon and Peter Mandelson, who was fired earlier this year from his post as the UK ambassador to the US. 

The documents included emails in which Summers discussed President Donald Trump with Epstein, who died in prison in 2019 after being arrested on charges of sex trafficking minors. His death was ruled a suicide. 

Summers also asked Epstein for romantic advice regarding a woman he was interested in. The Crimson identified the woman as a student who earned a bachelor’s degree and a Ph.D at Harvard, and said Summers described her as a person he was mentoring. A spokesperson for Summers told the newspaper that the woman was never Summers’ student. 

Summers was made a tenured professor at Harvard at 28 and won the John Bates Clark Medal given to outstanding American economists under age 40. He resigned as president of Harvard in 2006 after clashing with faculty, including after commenting that innate differences in sex kept women from flourishing in math and science careers. 

He later became a critic of the school’s response to accusations of antisemitism on campus and argued that Harvard needed to reform, even as he disagreed with the Trump administration’s interference in higher education. Summers served as Treasury secretary from 1999 to 2001 under former President Bill Clinton. 

According to Harvard’s 2020 report, Epstein was appointed in 2005 as a visiting fellow, a designation granted to an independent researcher registered with the university’s Graduate School of Arts and Sciences. He was recommended to the post by then-psychology department chair Stephen Kosslyn.

Epstein had donated $200,000 to support Kosslyn’s work between 1998 and 2002. Epstein was admitted to return as a visiting fellow for the 2006-2007 academic year but withdrew from that appointment following his 2006 arrest, according to the Harvard report.

In addition, Epstein funded Harvard’s program for evolutionary dynamics with a $6.5 million gift in 2003 and maintained a relationship with its director, Martin Nowak, over the next 15 years, the report said. Epstein visited the evolutionary dynamics program’s offices in Harvard Square more than 40 times between 2010 and 2018.

The Harvard inquiry didn’t find evidence that Epstein engaged with undergraduate students during these visits or during his time as a visiting fellow.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Authors
By Janet Lorin
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Law

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
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
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
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Law

ss
CommentaryWorld Cup
‘Soccernomics’ co-author: FIFA’s ticket strategy isn’t price discovery, it’s a wealth filter
By Stefan Szymanski and The ConversationJune 12, 2026
4 hours ago
dan
PoliticsElections
Dan Sullivan could be kicked out of Alaska Senate primary — but not that Dan Sullivan
By Becky Bohrer and The Associated PressJune 12, 2026
7 hours ago
pattie
LawCopyright
Patagonia sues drag queen Pattie Gonia, seeking $1 for trademark infringement
By Brittany Peterson and The Associated PressJune 12, 2026
8 hours ago
An Osasuna player passes the ball while under pressure from Getafe rival.
CryptoSpain
Controversy swirls over Spanish soccer club accused of using novel $600,000 Kalshi wager to bet on its relegation
By Camila Grigera NaonJune 12, 2026
15 hours ago
ice
LawImmigration
Westchester County built a 600-camera plate reader network that shared 1.6 billion scans with ICE, lawsuit says
By Byron Tau and The Associated PressJune 11, 2026
1 day ago
Microsoft co-founder Bill Gates (C) arrives for a closed-door interview with the House Oversight Committee on Capitol Hill in Washington, DC, on June 10, 2026.
LawBill Gates
Gates testifies on Epstein: previous Fortune investigation reveals payments to his ex-girlfriend, $1M Microsoft deal
By Eva Roytburg, Joey Cappelletti, Hannah Schoenbaum and The Associated PressJune 10, 2026
2 days ago

Most Popular

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
3 days ago
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Investing
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
By Jim EdwardsJune 12, 2026
13 hours ago
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
2 days ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
1 day ago
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
Success
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
By Catherina GioinoJune 11, 2026
1 day ago
Current price of oil as of June 12, 2026
Personal Finance
Current price of oil as of June 12, 2026
By Joseph HostetlerJune 12, 2026
10 hours 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.