The University of Texas: Landlords of Legends? How Much Dirt Do They Really Own?
Ah, the University of Texas. Home to burnt orange pride, longhorns (the majestic kind, not the traffic kind), and...endless tracts of land? This ain't your average college campus with a postage-stamp sized quad. The University of Texas, bless its land-grabbing heart, owns a whole heaping helping of the great state of Texas. But how much exactly? Buckle up, knowledge seekers, because we're about to dive into a wild ride of acreage!
By the Numbers: Enough Land to Make Texas A&M Jealous (Maybe)
Hold onto your hats, folks, because this is a big one: The University of Texas, or rather, the UT System (which includes several other universities besides the flagship in Austin), lays claim to a whopping 2.1 million acres of land. That's more land than Delaware and Rhode Island combined! You could practically fit a whole new country on that much real estate, although said country would likely be obsessed with breakfast tacos and football.
Now, here's the kicker: This land isn't exactly your typical college green space. We're talking about a vast swathe of West Texas, a land of rugged beauty, tumbleweeds, and...oil. Yes, oil. This is where things get interesting.
Land with Benefits: Oil and the All-Powerful Permanent University Fund
The University of Texas isn't just sitting on a pile of dirt (although, there probably is some of that too). This land is chock full of black gold, or more accurately, black goo. The university leases out the mineral rights on this land to oil and gas companies, and let me tell you, that sweet, sweet oil money keeps the university's coffers overflowing.
This revenue goes into a big pot of cash known as the Permanent University Fund. Imagine Scrooge McDuck swimming through a vault of gold coins, but instead of coins, it's investment portfolios and royalty checks. This fund helps fund not just the University of Texas at Austin, but also other universities in the UT System. Think of it as the ultimate rainy day fund, only instead of rain, it's a gusher of oil.
So, Can I Buy a Piece of the UT Empire?
Hold your horses, aspiring real estate moguls. This land isn't exactly on the open market. The University of Texas, wise as they are, hold onto this land for dear life (and for good reason, see: Permanent University Fund).
However, that doesn't mean you can't enjoy a little UT-land vicariously. You can always take a road trip through West Texas and soak in the majesty of the university's vast holdings. Just remember, that land you're driving past? Yeah, that could be funding your future textbooks or that fancy new research lab at UT Austin.
So there you have it, folks! The University of Texas: not just a college, but a land baron with a serious case of wanderlust (or perhaps, an oil addiction).