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Full Version: Blackstone founder creates S$372 mln China scholarship
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A meaningful and respectful way of spending the money amassed from Wall Street...Big Grin

Blackstone founder creates S$372 mln China scholarship

BEIJING – A US private equity tycoon announced Sunday the establishment of a US$300 million (S$372 million) endowed scholarship programme in China for students from around the world, and billed it as modelled after the prestigious Rhodes Scholarship.

Mr Stephen Schwarzman, founder of the private equity firm Blackstone, said he would give US$100 million as a personal gift and raise another US$200 million to endow the Schwarzman Scholars programme at Beijing’s Tsinghua University. It will be the largest philanthropic gift with foreign money in China’s history, according to the tycoon and the university.