University of California official says system has $32 billion in holdings targeted by protesters

FILE - Demonstrators wave flags on the UCLA campus, after nighttime clashes between Pro- Israel and Pro-Palestinian groups, May 1, 2024, in Los Angeles. If the University of California, one of the largest public university systems in the country, were to agree to divestment calls from students protesting the Israel - Hamas war, the system would lose $32 billion of its overall $175 billion in assets, officials said on Tuesday, May 15, 2024. SACRAMENTO, Calif.

Bachher said that would apply to investments that include: $3.3 billion in holdings from groups with ties to weapons manufacturers; $12 billion in U.S. treasuries; $163 million in the investment firm BlackRock and $2.1 billion in bonds that BlackRock manages; $8.6 billion from Blackstone and $3.2 billion from the other 24 companies.

For weeks, students at campuses across the country have been protesting and setting up encampments at their universities to call on them to be more transparent about their investments and to divest from companies that financially support Israel. The demonstrations have led toThe protests stem from the current Israel-Hamas conflict which started on Oct. 7 when Hamas launched an attack on southern Israel in which militants killed about 1,200 people, mostly civilians, and took roughly 250 hostages.

The United Nation’s top court in January ruled that Israel must do all it can to prevent acts of genocide in Gaza but did not order an end to Israel’s military activities in the territories. The ruling was in response to a case brought by South Africa accusing Israel of committing genocide in violation of international law. Israel has denied that it is committing genocide.

Holly Yu, a student studying ethnic studies at the University of California, Merced, urged officials to recognize that students are “expected to continue our everyday lives” as the death toll rises in Gaza.

Source: Education Headlines (educationheadlines.net)

Protests And Demonstrations Israel Finance CA State Wire Israel-Hamas War Israel Government War And Unrest South Africa Hamas Financial Services Business

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