Trump’s approach represents a shift in how wealthy people are shaping higher education. Some of the moneyed voices Trump has elevated have, in the name of encouraging open debate, sought to expunge progressive orthodoxy from academia and tilt campuses rightward. And since Trump took office, the president and his allies have pursued an aggressive campaign to realize their vision, including reshaping the relationship between the federal government and the nation’s colleges and universities. The campaign is accelerating. But it has been in the works for years. In 2023, hedge fund manager Bill Ackman and private equity titan Marc Rowan tested...