Billionaire John Paulson penned letter to Manhattan's $50K-a-year Spence School accusing it of 'anti-white indoctrination' and claiming reading materials maliciously portray white people

Billionaire hedge fund manager John Paulson threatened to stop donating to Manhattan's elite all-girls Spence School because of 'anti-white indoctrination' in the curriculum being taught to his two daughters.

Paulson, who became a celebrity in the banking industry after raking in billions from his bet against the American housing market ahead of the 2008 financial crisis and served as an economic adviser to President Donald Trump, made the claims in a letter to the school in 2017 that was unearthed this week by Page Six. 

At the time both of Paulson's daughters, Giselle and Danielle, attended the school on the Upper East Side, which charges nearly $50,000 per year in tuition and boasts many famous alumni including Gwenyth Paltrow, Anna Wintour's daughter Bee Shaffer, and Michael Bloomberg's daughter Georgina Bloomberg.

In the letter, signed by Paulson and his wife Jenny, the couple describe several examples of reading materials their daughters received which they claim include malicious portrayals of white people. 

They argued that the curriculum is 'designed' to promote anti-white ideologies by teaching students, of which less than a quarter are minorities, that white people are successful because of their race.  

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Billionaire hedge fund manager John Paulson and his wife Jenny (pictured in 2017) accused Manhattan's elite all-girls Spence School of 'anti-white indoctrination' three years ago

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The Spence School is one of New York City's most elite private schools, charging nearly $50,000 per year in tuition. The Upper East Side campus is pictured above 

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John and Jenny Paulson claimed in a 2017 letter that their daughters Giselle and Danielle had received several class assignments that portrayed white people in a malicious manner. The family is pictured arriving at the US Open in 2014

'In recent years we have reached out on several occasions to discuss a disturbing trend in one area of the curriculum that we believe is having a negative impact on our daughters' education,' the Paulsons wrote in the letter, which was addressed to Spence's Head of School Eleanor 'Bodie' Brizendine and sent to several members of the board of trustees. 

'As we've noted before, there appears to be an anti-white indoctrination that permeates many parts of the Spence curriculum.' 

John Paulson became a celebrity in the banking industry after raking in billions from his bet against the American housing market ahead of the 2008 financial crisis

The Paulsons went on to cite several examples of 'very troubling' curriculum materials that they had spoken to Spence about in past years.  

'Last year, we highlighted sections from assigned passages in 8th grade English. These included: in "Indian Education," the white teacher is a mean, ugly redheaded monster and a white father rapes his daughter,' the letter states. 

'We also expressed our deep disappointment last September at the school play when two white girls pushed a black girl because she didn't summer in South or East Hampton. 

'In past years, we also contacted you about the story of "When Richer Weds Poorer" … where the protagonist said that it was amazing that rich people could be nice.

'We were left with the impression that it was possible to promote diversity in ways that were neither inflammatory nor discriminatory towards whites.'

A-list actresses Gwyneth Paltrow (left), Kerry Washington (center) and Emmy Rossum (right) are among Spence's many famous alumni

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Michael Bloomberg's daughter Georgina Bloomberg (left together in 2019) and Anna Wintour's daughter Bee Shaffer (right together in 2018) also attended Spence

The couple then described the reason for their current letter - an assignment their seventh-grade daughter recently received. 

'Now we find ourselves writing to you again to raise yet another example in what has become an alarming pattern … the subject of "Courageous Conversations Conversation Compass" given to the seventh-grade class,' the letter states. 

'The student writings provided are designed, we believe, to promote anti-white indoctrination.'  

The Paulsons did not go into further detail about what the offending assignment entailed, according to Page Six, but wrote: 'We believe these materials send the wrong message to students about the values they should adopt to lead prosperous lives. 

'The advantages enjoyed by most individuals from middle or upper-income backgrounds today are the result of stable family backgrounds, high education levels, hard work, and personal responsibility.

'To attribute them to their race entails a blindness to the values that we rightly want to cultivate in our children. Our daughters are successful in school because they are disciplined and work hard.

'We think it is wrong to imply they are successful because they are white. We also think it is harmful to indoctrinate in whites a sense of guilt and in blacks feelings of resentment and entitlement against whites.

'In fact for children of all races, we strongly believe that schools should value and define success in terms of hard work, earned accomplishment, merit, a commitment to academic rigor, and personal integrity.'

The letter ends with a direct threat to stop financially supporting the school if their concerns were not addressed.

 'As you know we have been amongst the largest financial supporters of Spence,' the couple wrote.

'However, we will not continue to make donations to Spence while Spence continues on this path.' 

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John and Jenny Paulson have donated hundreds of millions to philanthropic causes in the years since the financier's unprecedented bet against the housing market propelled him to a net worth of $4.7billion. They are pictured at the White House in 2018

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Spence issued a statement in Page Six's report on the Paulsons' letter, saying: 'Spence has a long-standing commitment to curriculum that promotes diverse perspectives and faces difficult truths. We have never wavered in this commitment, which is even more critical in this national reckoning over race and social justice'

John and Jenny Paulson have donated hundreds of millions to philanthropic causes in the years since the 64-year-old financier's unprecedented bet against the housing market propelled him to a net worth of $4.7billion.  

Many of their contributions have gone to educational causes, including $400million to Harvard University's School of Engineering and Applied Sciences and $10million to Success Academy Charter Schools, which sought to improve the quality of education in poor areas of New York City. 

After his letter came to light - amid nationwide anti-racism protests - some critics on social media noted that John Paulson, who is white, made his fortune in a white-dominated financial sector.   

The hedge fund manager addressed the three-year-old letter in a statement to Page Six, saying: 'Our family has long supported organizations that work to achieve social justice goals by equipping minority and low-income children with a world-class education that will lead to success in life. 

'We believe that respect, inclusion, and tolerance for differing views must guide today's discussions about race and equality.'

Spence also issued a comment to the  outlet, saying: 'Spence has a long-standing commitment to curriculum that promotes diverse perspectives and faces difficult truths. 

'We have never wavered in this commitment, which is even more critical in this national reckoning over race and social justice.'