Billionaires who have pumped $500m into Ivy League schools back out over failure to condemn the Hamas terror attack on Israel: Harvard and UPenn face losing hundreds of millions in future endowments

• Up to $487million could be lost amid rising tensions between Israel and Palestine

• Billionaires Ken Griffin has requested Harvard take a robust stance in defense of Israel

• Former US Ambassador Jon Huntsman Jr has stripped his support for the University of Pennsylvania

Ivy League schools face a multi-million dollar dip in funding after being blasted for failing to condemn Hamas' terrorist attacks against Israel.

Harvard and the University of Pennsylvania have been hit hardest by the backlash – with a host of alumni calling on the colleges to do better as some revoke their funding entirely.

Billionaires Ken Griffin has called for Harvard to take a robust stance in defense of Israel, and criticized students defending the Hamas attack.

Former US Ambassador Jon Huntsman Jr has stripped support for UPenn after slamming their stance on the conflict between Israel and Palestine.

The schools could lose a huge $487million in funding over their stance, based on current and prior donations by those speaking out against the colleges.

Griffin pledged $300million to Harvard this year alone, but contacted the head of the University board to complain about the lack of response of President Claudine Gay.

The latest blow to Harvard has seen the Wexner Foundation pull their support from the school entirely, after donating at least $56million over the course of 30 years.

In a statement the foundation said they feel 'stunned and sickened' at Harvard's failure to take a 'clear and unequivocal stand against the barbaric murders of innocent Israeli civilians'.

Israeli billionaire Idan Ofer and his wife Batia have stepped down from an executive board at Harvard after previously donating $20million to the school.

Forbes valued their worth at $20billion, among the world's 100 most wealthy people.

Unfortunately, our faith in the University's leadership has been broken and we cannot in good faith continue to support Harvard and its committees,' the couple said in a statement.

'We denounce those who seek to place blame on the people of Israel for the atrocities committed by the terrorist organization, Hamas.'

The backlash came after 34 Harvard student groups signed up to a letter that blamed Israel for Hamas' massacre of Jewish people.

It said: 'We, the undersigned student organizations, hold the Israeli regime entirely responsible for all unfolding violence.'

Griffin told DailyMail.com: 'It is despicable that leaders of these student groups did not immediately condemn the terrorist atrocities by Hamas but instead blamed Israel for them. The members of these group should swiftly denounce the hateful actions of their leadership and demand a change.'

Over a dozen business executives are joining the call to blacklist the students, while the group whined about being persecuted in the aftermath.

Billionaire hedge fund manager Bill Ackman called for the students to be identified, to ensure that he and other CEO's would not hire them.

Ackman donated $17million to Harvard in 2014, but his current stance of calling out the college for a lack of action implies further funding will not be given.

Apollo CEO Marc Rowan has called on those donating to the University of Pennsylvania to pull their funding or send just $1 in protest.

The college has been hit with calls to fire two senior members of staff over allegations they have made 'anti-Semitic' comments.

Rowan is a graduate of UPenn's Wharton Business School, and donated $50million to Wharton in 2018 along with his wife.

Former US Ambassador Jon Huntsman, who graduated from the university in 1987, has also blasted the university, and vowed to halt his families' donations.

His father, Huntsman Sr, donated $50million to the school up until his death in 2018, with Jon saying the foundation will 'close its check book' on future donations.

In a letter to Penn President Liz Magill, Huntsman said that Penn has 'become deeply adrift in ways that make it almost unrecognizable.'

'The University's silence in the face of reprehensible and historic Hamas evil against the people of Israel (when the only response should be outright condemnation) is a new low,' he added.

'Silence is antisemitism, and antisemitism is hate, the very thing higher ed was built to obviate.'

Magill and Provost John L. Jackson previously issued a statement on the Hamas attacks, while University Board of Trustees Chair Scott Bok condemned the 'atrocious terrorist attacks'.

In an updated statement following the backlash, Magill condemned Hamas, and emphasized the University's position on anti-Semitism.

She referred to the violence from Hamas as a 'terrorist assault,' a change from her initial statement.

As the Chair of the Wharton School's Board of Advisors, Rowan called for President Magill and Bok to step down last week, citing the University's handling of antisemitism on campus.

Vice-chair of the University of Pennsylvania's board of trustees, Julie Platt, said she stood behind Magill in a statement.

'The university has publicly committed to unprecedented steps to further combat anti-Semitism on its campus, reaffirmed deep support for our Jewish community, and condemned the devastating and barbaric attacks on Israel by Hamas,' she said.

'The executive committee of Penn's board of trustees has unanimously endorsed the actions taken by the university, and I have full confidence in the leadership of president Liz Magill and chair Scott Bok.'