Wealth
With fixed assets worth slightly more than £43.5m and land insured for approximately £72m, Fitzwilliam is well below average in terms of college wealth. It is the poorest college to have been established in the last half-century, and does not have the financial reserves that are typical of some of the older colleges. In 2006, a report published by Varsity revealed Fitzwilliam to be the 31st wealthiest of Cambridge's 31 colleges. The report also revealed that the college earns almost half a million pounds a year from conference accommodation and another £17 000 from its laundry service.
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Famous quotes containing the word wealth:
“No man, however benevolent, liberal, and wise, can use a large fortune so that it will do half as much good in the world as it would if it were divided into moderate sums and in the hands of workmen who had earned it by industry and frugality. The piling up of estates often does great and conspicuous good.... But no man does with accumulated wealth so much good as the same amount would do in many hands.”
—Rutherford Birchard Hayes (1822–1893)
“That wealth and greatness are often regarded with the respect and admiration which are due only to wisdom and virtue; and that the contempt, of which vice and folly are the only proper objects, is often unjustly bestowed upon poverty and weakness, has been the complaint of moralists in all ages.”
—Adam Smith (1723–1790)
“In general, Russia suffers from a frightening poverty in the sphere of facts and a frightening wealth of all types of arguments.”
—Anton Pavlovich Chekhov (1860–1904)