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

Trendingnow

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
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
Add Fortune on Google for similar content.

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
Add Fortune on Google for similar content.

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

US says chemical maker Chemours will pay $450M in penalties and relief programs to three states to settle ‘forever chemicals’ case
EnvironmentEnvironment
US says chemical maker Chemours will pay $450M in penalties and relief programs to three states to settle ‘forever chemicals’ case
By The Associated PressJune 24, 2026
16 hours ago
A G New York subway train at a stop
LawNew York
‘Heinous actions’: New York City teen sentenced to more than 5 years after admitting he set a sleeping homeless man on fire on the subway
By The Associated PressJune 24, 2026
17 hours ago
President Donald Trump pictured in September 2025 signing an executive order that overhauled the H-1B visa program.
EconomyImmigration
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
By Tristan BoveJune 24, 2026
19 hours ago
Gaza reshaped New York’s Democratic primaries. Now the party has to figure out what that means.
PoliticsNew York
Gaza reshaped New York’s Democratic primaries. Now the party has to figure out what that means.
By The Associated Press, Steve Peoples and Jake OffenhartzJune 24, 2026
21 hours ago
A team of workers sort aluminum cans near large bales of plastics
LawCalifornia
17 red states sue California over ‘onerous’ recycling law: ‘California is not entitled to pronounce nationwide policies’
By The Associated PressJune 24, 2026
21 hours ago
White House blames ‘leftist activists’ for Reflecting Pool snafus as crews put up fencing to block off the algae- and peeling paint-filled water
LawWhite House
White House blames ‘leftist activists’ for Reflecting Pool snafus as crews put up fencing to block off the algae- and peeling paint-filled water
By Matthew Daly and The Associated PressJune 24, 2026
22 hours ago

Most Popular

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
1 day ago
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
1 day ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
22 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
24 hours ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
Economy
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
By Tristan BoveJune 24, 2026
19 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.