In this article, we provide an overview of the rise of academic capitalism based on the ongoing commodification and entrepreneurial trends in higher education. We begin by outlining the historical mission of higher education institutions (HEIs) and shift to discussing the current higher education landscape. In particular, we discuss how strategies regarding the financial security of the HEI benefit from the diversification of their revenue streams between education, industry, and research. We conclude with a discussion of how internationalization strategies have been impacted by the emergence of academic capitalism.