<p>Yesterday's SF Gate article, with a direct edit from UC Berkeley in the News bolded by me:</p>
<p>The combined endowments of the 10-campus UC system are about $8 billion, less than half of Stanford's. And while the UC BERKELEY endowment also saw healthy growth last year - 20.5 percent for a total of $837 million [should read $2.9 billion] - it is dwarfed by Stanford's even though Cal educates more than twice as many students.</p>
<p>Operating budgets themselves aren't much use, particularly when the university also has a hospital component. Penn's annual budget is $4.4 billion, which dwarfs even Harvard in annual spending--but that is clearly going to the health system, not the undergrads.</p>
<p>^ I agree...that's why I removed the $4 billion allocated for UC's teaching hospitals in my analysis.</p>
<p>Bluebayou, I blieieve the number its stating is the total of the growth (the ~21%).</p>