The administration of President Donald Trump labeled the incident as antisemitic activity. While it praised the university and law enforcement officials for their response, it urged the school to take enforcement actions and make policy changes. BEVERLY HILLS, May 6 (Reuters) - Billionaire investor Bill Ackman on Tuesday said Harvard University, one of the nation's oldest and wealthiest, should not be entitled to taxpayer funds when the school wastes money on what he calls "administrative bloat." "They have lost all future grants, their tax exemptions are at risk," Ackman said on a panel at the Milken Institute Global Conference where 5,000 financiers, educators and scientists gather to discuss critical issues of the day.

He also again hit out at the school's governing board, saying it has become insular and that there is no mechanism to remove members the way there is in corporate America where investors can run board challenges.

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