Billionaire donors are loudly boycotting Ivy Leagues. It may not hurt the schools as much as you think.

• Billionaires have made headlines for cutting funding to Harvard and the University of Pennsylvania.
• The boycotts are in protest of the schools' responses to Hamas' terrorist attacks on Israel.
• In the end, it's the schools' reputations — not their endowments — that may suffer the most.

Billionaire megadonors are making headlines for cutting funding to elite Ivy League institutions and rebuking their responses to Hamas' terrorist attacks on Israel.

But the lost donations might not hurt the schools as much as you might think — at least when taken in isolation.