The Philanthropic Outreach of Stephen Schwarzman
Stephen Schwarzman is the founding partner of New York’s Blackstone Group, a company that specializes in real estate, private equity, hedge funds, and corporate debt.
Last year, the 62-year old billionaire investor pledged to donate $100 million to the New York Public Library. This generous donation would finance the renovations for the establishment’s flagship building, which is located on Fifth Avenue. The endowment will also fund the construction of two other New York libraries. Another portion of the money would fund the expansion of the library’s online assistances.
Since Stephen A. Schwarzman offered massive funding for the institution, library officials decided to name the library’s Fifth Avenue facility after him.
Aside from contributing to the construction of research facilities, the donor also provided $5 million to the New York Inner-City Scholarship Fund, which grants scholarships to children, enabling them to attend Catholic schools within the city.
In addition, Stephen Schwarzman is involved in various culture and arts organizations like the John F. Kennedy Center, where he acts as the Board of Trustees chairman. At the Asia Society, the Frick Collection, the Film Society of Lincoln Center and the New York City Ballet, he acts as a member of the Board.