Because people want to make money and spend it. An investment firm can found and fund a university, but the owners don't get the money they put in back out. Pl

Because people want to make money and spend it. An investment firm can found and fund a university, but the owners don't get the money they put in back out. Plus, why bother with a school? If you want to donate your money, there are far more fun tax exempt organizations to run participate in, like most Yacht clubs or fraternal associations.