Thousands Of California Vineyard Acres Bought By Harvard

According to Business Insider, Harvard University has purchased thousands of acres of California vineyards in the last six years. The institution is scooping up land with prime access to groundwater, a resource that's become increasingly scarce in California due to past droughts. The investment money came from Harvard's $39 billion endowment, the largest one of its kind in the world. According to The Wall Street Journal, Harvard's vineyards are now worth $305 million, three times what they were worth in 2013.