That is a favorite theme of some leftist writers and Jane Mayer of The New Yorker is probably the best known. She uses it to scare her "progressive" readers who like to think that dark and diabolical conservatives are working to damage our education system. But it's all baloney. In this article published by the Foundation for Economic Education, I argue that Mayer is spinning a paranoid fantasy. The fearsome billionaires can do nothing except slightly expand the range of views students may hear on campus. Leftists may not like it that marginally more students will learn about classical liberal approaches to economics, politics, and some other disciplines, but it is not harmful.