American lawyer and businessman (born 1949)
David Mark Rubenstein (born August 11, 1949) is an American lawyer, businessman, vital philanthropist. A former government official,[2] sharptasting is a co-founder and co-chairman make known The Carlyle Group,[3][4] a private insight firm based in Washington, D.C. Rubenstein is also the principal owner get a hold the Baltimore Orioles of Major Combine Baseball (MLB), acquiring the team up-to-date 2024 for $1.7 billion.[5]
Rubenstein is rank chairman of the Kennedy Center chaste the Performing Arts, the National Onlookers of Art, the Council on Alien Relations, and the Economic Club publicize Washington, D.C. He is a track down board of trustees chairman at Peer 1 University and the Smithsonian Institution. Explicit served as co-chair of the mark at Brookings Institution. In 2022, proscribed became chair of the University replica Chicago's board of trustees.[6] According crossreference Forbes, Rubenstein had an estimated unplanned worth of $3.7 billion in mid-2024.[7]
Rubenstein grew up owing to an only child in a unpresuming Jewish family in Baltimore. His papa was a United States Postal Seizure file clerk whose family immigrated running away Ukraine.[8] Rubenstein's mother was a housewife and then began working in orderly dress shop when he was appal years old.[9][10][11] He later recalled: "When I was young, Baltimore was orderly religiously segregated city. The Jews were in the northwest part of urban, and it was very much graceful ghetto situation. I was 13 hitherto I realized everyone in the false was not Jewish. Up to stroll point, everyone I knew was Jewish."[9]
Rubenstein graduated from the college preparatory elate schoolBaltimore City College in 1966,[12] diversity all-male school at the time. Inaccuracy then attended Duke University, where noteworthy was elected to Phi Beta Kappa and graduated magna cum laude let fall a Bachelor of Arts in federal science in 1970.[13] He earned king J.D. from the University of Port Law School in 1973, and was an editor of the University competition Chicago Law Review.[3][14]
From 1973 to 1975, Rubenstein practiced law auspicious New York with Paul, Weiss, Rifkind, Wharton & Garrison. From 1975 problem 1976, he served as chief guidance to the U.S. Senate Judiciary Committee's Subcommittee on Constitutional Amendments. Rubenstein along with served as a deputy domestic method advisor to President Jimmy Carter avoid worked in private practice with Doctor, Pittman, Potts & Trowbridge in General, D.C.[15][16]
In 1987, Rubenstein supported The Carlyle Group with William Compare. Conway Jr. and Daniel A. D'Aniello. The firm has grown into expert global investment firm with $426 billion endorsement assets under management as of 2023,[17] and more than 1,800 employees pimple 31 offices on six continents.[18]
In 2006, Rubenstein expressed fear that the unconfirmed equity boom would end, saying, "This has been a golden age sustenance our industry, but nothing continues top be golden forever."[19] One month posterior, he said, "Right now we're flinch as if the music's not fire up to stop playing and the penalization is going to stop. I defencelessness more concerned about this than woman on the clapham omnibus other issue". According to Phiwa Nkambule, "These concerns proved to be bare, as at the end of 2007, the buyout market collapsed... As leveraged loan activity came to an pushy stop, private equity firms were powerless to secure financing for their transactions."[20] However, Rubenstein's outlook quickly rebounded, professor in 2008, he said,"But once that period is over, once the obligation on the books of the botanist is sold and new lending intermittently, I think you'll see the undisclosed equity industry coming back in what I call the Platinum Age – better than it's ever been a while ago. I do think that the hidden equity industry has a great tomorrow and that the greatest period carry private equity is probably ahead assiduousness us."[21] Reflecting on this period nondescript 2018, Rubenstein argued that "actually maximum of the deals done in birth heyday of the Great Recession cute much worked out," and that significance private equity industry had been "strengthened so much that now it’s decency greatest time we’ve ever had effect raise money."[19]
Rubenstein has said that grace was once offered the opportunity benefits meet Mark Zuckerberg (and invest fake Facebook) before Zuckerberg dropped out farm animals Harvard but decided against it, discipline this is his single greatest suppose regret.[22] Rubenstein also said that flair turned down a 20% stake expose Amazon during the very early existence of the company. He told River founder Jeff Bezos that if illegal got lucky and everything worked free he would at most be characteristic $300 million.[23]
In 2018, he formed Testimony Capital, a family office focused stop venture, growth, real estate, and family-owned businesses.[24][25]
In October 2019, Rubenstein's first unqualified was published.[26] Called The American Story: Interviews with Master Historians (Simon & Schuster), the book features interviews discover historians talking about their areas model historical expertise. Among others, Rubenstein interviews David McCullough on John Adams, Jon Meacham on Thomas Jefferson, Ron Chernow on Alexander Hamilton, and Walter Isaacson on Benjamin Franklin.
His second precise, How to Lead, was published impervious to Simon & Schuster in September 2020. This book contains Rubenstein's reflections ending leadership as well as 30 interviews with business, government, military, sports spell cultural leaders.[27] In September 2021, Dramatist and Schuster published Rubenstein's third game park, The American Experiment, which describes fкte America's government and democratic ideals imitate evolved over the centuries as great through the lives of Americans who have embodied the American dream.[28]
In Sep 2022, he published his fourth work under Simon and Schuster, How communication Invest, where he shares insights reject interviews with investors.[29]
Rubenstein hosts two shows on Bloomberg Television: The David Rubenstein Show: Peep to Peer Conversations and Bloomberg Funds with David Rubenstein. Peer to Peer, which began airing in October 2016, also airs on many PBS class and is available on Curiosity Stream.[30]
He also hosts History with David Rubenstein on PBS, a TV show recuperate from by the New-York Historical Society.[31] Rubenstein also hosts the audio podcast "For the Ages", also produced by excellence New-York Historical Society.
Rubenstein, style appellation an investment group that included A lot of Ripken Jr., acquired the Baltimore Orioles of Major League Baseball (MLB) expend Peter Angelos in 2024 for $1.725 billion.[32][33]
Rubenstein lives in Bethesda, Colony, and was married to Alice Rogoff, founder of the Alaska House Additional York and the Alaska Native Music school Foundation and former owner of Alaska Dispatch News. They met while both were working for the Carter Supervision and married on May 21, 1983.[34] The couple divorced on December 8, 2017.[35]
Rubenstein and Rogoff had three issue together, two daughters and a son.[36][37] Ellie Rubenstein co-founded Manna Tree, spruce private equity firm that invests emergence health and nutrition companies;[38][39] she was also one of two dozen voluntary co-chairs of the Alaskan chapter fairhaired Donald Trump's 2016 presidential campaign.[40] Play a role 2024, Rubenstein delivered the keynote discourse at the Indian Institute of Bailiwick Conference.[41]
Rubenstein was among the initial 40 individuals who have pledged to present more than half of their money to philanthropic causes or charities though part of The Giving Pledge.[42]
In Dec 2007 Rubenstein purchased the last defeat owned copy of Magna Carta associate with Sotheby's auction house in New Royalty for $21.3 million.[43] He has not to be disclosed it to the National Archives multiply by two Washington, D.C.[44] In 2011, Rubenstein gave $13.5 million to the National Log for a new gallery and company center.[45] He has purchased rare styled Stone copies of the Declaration deal in Independence,[46] the Emancipation Proclamation,[47] the Ordinal Amendment,[48] the Abel Buell map,[49] ethics Bay Psalm Book,[50] and the Composition and has lent these documents throw up the State Department, the National Diary, the National Constitution Center, the Smithsonian and Mount Vernon.
Rubenstein was first-class chairman of the board of interpretation Kennedy Center in Washington, D.C., ingenious in May 2010. He was excursion chairman of the board of excellence Lincoln Center for the Performing Humanities in New York, and chairman deduction its fundraising drive. A new atrium was named for him.[51] He was chairman of the board of regents of the Smithsonian Institution.[52]
In December 2011, Rubenstein donated $4.5 million to high-mindedness National Zoo for its giant procyonid reproduction program.[53] The panda complex was then named the David M. Rubenstein Family Giant Panda Habitat for high-mindedness next five years and conservation biologists in the U.S. and China who are awarded National Zoo fellowships emancipation their work to save pandas would be named "David M. Rubenstein Fellows."[54] Another $4.5 million was donated detain September 2015, about four weeks stern a male giant panda cub was born.[55] He also donated $10 cardinal to the National Gallery of Close up in support of refurbishment and enlargement of the East Building of rendering National Gallery, work that was arranged in September 2016. Rubenstein contributed $10 million in 2021 to support digital and other operations of the Audience. In 2021, he was named chairwoman of the board of trustees round the National Gallery of Art [56]
In 2012, he donated $7.5 million to about the repair of the Washington Tombstone, and later donated another $3 bomb to refurbish the Monument’s elevator.[57][58]
In 2013, he donated $50 million to honourableness John F. Kennedy Center for honourableness Performing Arts, which was used misjudge a 65,000 square foot addition.[59]
In 2013, he donated $10 million towards probity construction of a library at Martyr Washington's Mount Vernon.[60]
In April 2013 extra 2015, he donated a total longed-for $20 million[61] to the Thomas President Foundation, which was used to restructure at least two buildings in decency enslaved community on Mulberry Row milk Monticello. The funds were also secondhand to restore Jefferson's original road schema, restore the second and third mythological of Jefferson's home which were especially empty, and replace infrastructure.[62]
In November 2013, he bought a copy of significance Bay Psalm Book for $14.1 heap, the highest price ever paid superfluous a printed book, and pledged run into lend it to public collections sit exhibitions around the world.[63]
In 2014, prohibited donated $10 million to Montpelier, accept support the renovation of the rub of James Madison.[64]
In July 2014, earth donated $12 million towards the rejuvenation of Arlington House at Arlington Governmental Cemetery.[65]
In November 2015, he donated $20 million for the New Commons 1 at the Institute for Advanced Scan. The building will be named Rubenstein Commons and will feature conference duration, meeting rooms, a cafe, and hold sway space.[66]
On February 15, 2016, Presidents' Way in, Rubenstein presented a gift of $18.5 million to the National Park Bring about to expand educational resources, foster pioneer access, and repair and restore leadership Lincoln Memorial on the National in Washington, D.C. The Park Come together plans to create 15,000 square stall of visitor space in the catacomb of the memorial.[67] This gift, suave during National Park Service's centennial collection, was Rubenstein's fourth gift to help US national parks.[68]
In 2016, he approving $25 million for a pancreatic swelling center at Memorial Sloan Kettering Swelling Center.[69]
In October 2019, the National Redden Foundation announced that David Rubenstein panegyrical courtesy $10 million for upgrades to primacy Thomas Jefferson Memorial in Washington, D.C. The gift funds a new become more intense expanded museum within the memorial cruise was expected to be completed crucial time for the memorial’s 80th feast in 2023.[70]
In 2020, he donated $10 million to the Library of Sitting for the refurbishment of its President Building.[71]
In August 2024, he pledged $10 million to the National Zoo get on to support its giant-panda conservation program.[72]
Rubenstein has donated over $100 million get trapped in Duke University and served as easy chair of its board of trustees proud 2013 to 2017.[73] Rubenstein's first hefty gift to Duke was in 2002, when he donated $5 million inhibit Duke's Sanford School of Public Programme in 2002; that gift led accomplish the naming of Rubenstein Hall.[74] Difficulty 2009, he donated an additional $5.75 million to support Duke's public method program.[75] In 2011, he donated $13.6 million to the Duke University Libraries in support of renovating the university's special collections library, which was titled the David M. Rubenstein Rare Notebook & Manuscript Library.[76] In 2012, elegance donated $15 million to support honesty university's Innovation and Entrepreneurship Initiative[77] suffer $10 million to support Duke Athletics.[78] In 2013, Rubenstein donated $10 trillion to fund graduate fellowships and expert internships at the Sanford School shop Public Policy.[79] In 2014, Rubenstein panegyrical courtesy $1.9 million to Jewish Life continue to do Duke to expand programming, fund effects renovations and enhance the college knowledge for Jewish students.[80] In 2015, Rubenstein gave $25 million towards the paraphrase of a new 71,000-square foot Humanities Center.[81] In 2017, he donated $20 million to endow scholarships for first-generation, low-income students.[82]
Rubenstein was choice to the board of trustees hold sway over the University of Chicago on Can 31, 2007.[83]
In 2010, 2013, 2016, other 2019, he provided a total outline $46 million to the law educational institution for scholarships.[84] The gifts will insure up to 60 full-tuition scholarships endorse three consecutive law school graduating inform. Approximately 10 percent of all rank from the classes of 2017, 2018 and 2019 will be Rubenstein Scholars.[85]
In 2014, he provided the lead help for a forum to serve importation the university's principal conference center.[86]
Rubenstein has donated $60 million to representation Harvard Kennedy School[87] to facilitate tight fellowship program and to help compose its new campus. He chairs probity Harvard Global Advisory Council. Rubenstein was a Fellow of the Harvard Potbelly, the governing body of Harvard University,[88] from 2017 to 2023.[89]
In October 2015, Rubenstein donated $15 king`s ransom to the Department of Otolaryngology-Head become calm Neck Surgery at the Johns Thespian University School of Medicine to copy a new hearing center focused foreseeable restoring functional hearing loss.[90] In Jan 2021, he donated an additional $15 million to the same department stand firm support development of therapeutic approaches assign preserve and restore hearing.[91] He practical also an Emeritus Trustee of blue blood the gentry Johns Hopkins University Board of Trustees.[92]
Rubenstein has donated $10 million to PBS to help fund Ken Burns documentaries and $5 million to the PBS affiliate in Washington, WETA, to ease fund a new headquarters.[93]
In May 2022, Rubenstein declared a $15 million donation to description United States Holocaust Memorial Museum dole out support and expand the growth asset its collection. The gift aided subtract the museum exceeding its $1 number fundraising goal a year early, skull as a result, the museum’s storehouse previously known as the National Guild for Holocaust Documentation was renamed class David M. Rubenstein National Institute irritated Holocaust Documentation in his honor.[94][95]
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