Stephen Schwarzman, the 71-year-old co-founder and CEO of the Blackstone Group (ticker: BX), wanted to give $25 million to his old high school to help fund a renovation project and build a science and technology center.
... It was a donation innovation, too: $25 million doesn’t go as far it used to. The price tag for prestige donations has risen. Renaming the University of Chicago’s business school cost $300 million, and ...
Schwarzman’s own gifts show the mismatch. In 2008, he gave the New York Public Library $100 million. The library’s main building was named after him, not the institution itself. He gave $150 million to Yale University (class of 1969) in 2015, and it’s still called Yale.
Schwarzman Scholars On April 21, 2013, Schwarzman announced a $100 million personal gift to establish and endow a scholarship program in China, Schwarzman Scholars, modeled after the Rhodes Scholarship program.
On April 21, 2013, Schwarzman announced a $100 million personal gift to establish and endow a scholarship program in China, Schwarzman Scholars, modeled after the Rhodes Scholarship program.