[JeffInCorvallis]

The land of the main campus was gifted to the University by Leland and Jane. By the founding documents none of it can ever be sold, so while Stanford may be sitting on some of the most valuable real estate on planet Earth, it can't profit directly from the sale. Portions of the land, like the shopping center and the Stanford Industrial Park, do generate significant income. Stanford also owns real estate outside the main campus such as the Redwood City campus.

I would guess that real estate is on the books as an asset for the University but not as a part of the endowment. In 2020 they reported that real estate investments made up 8% of the endowment, and it's an asset class they use for diversification, investing in commercial and residential real estate in various places.

[JeffInCorvallis]

The land of the main campus was gifted to the University by Leland and Jane. By the founding documents none of it can ever be sold, so while Stanford may be sitting on some of the most valuable real estate on planet Earth, it can't profit directly from the sale. Portions of the land, like the shopping center and the Stanford Industrial Park, do generate significant income. Stanford also owns real estate outside the main campus such as the Redwood City campus.

I would guess that real estate is on the books as an asset for the University but not as a part of the endowment. In 2020 they reported that real estate investments made up 8% of the endowment, and it's an asset class they use for diversification, investing in commercial and residential real estate in various places.