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The university told athletics employees in March 2023 that the firm, which specializes in cases of discrimination and harassment, merely was valuating the department’s culture ahead of its move to the Big Ten Conference.

Critics of the plan say it will force billionaires to retreat from the stock market, where valuating assets is easier, and into more opaque markets such as real estate and art.

This is something boys learn early and, for years, maybe even a lifetime, it comes to define how they valuate each other and themselves.

Payments company Square Inc. disclosed in its IPO filing last week that a $150 million funding round valuating it at $6 billion last fall came with potentially onerous restrictions.

“But as an in-house sommelier, I’m curating and valuating private wine cellars, providing advice on what to buy, what to sell, when to drink and what to drink them with,” he noted.