It is not a surprising fact that billionaire head of private equity group Blackstone Stephen Schwarzman is one of the richest men in America, placing 53rd in the 2008 Forbes’ List. The more inspiring part is that Stephen Schwarzman is using his wealth to fund charitable causes. In fact, he was named one of America’s most generous philanthropists for the year 2008, claiming the 16th spot among 50 honorees.
His most prominent donation to date was the $100 million pledge to the New York Public Library that will help construct two new buildings and renovate its flagship Fifth Avenue building that will be named the Stephen A. Schwarzman Building in his honor in the year 2014.
Moreover, he also plays close attention to the education of New York children, giving a $5 million donation to the Inner-City Scholarships Fund that allows poor children in New York’s underserved communities to attend Catholic schools. This donation is the largest sum the Fund has ever received.
Away from Blackstone, Mr. Stephen Schwarzman is a patron of the arts, serving as chairman of the Board of Trustees of the Washington-based John F. Kennedy Center for the Performing Arts, and board member for the Asia Society, the Film Society of Lincoln Center, the Frick Collection, and the New York City Ballet.
