what might the Schwarzman Scholars actually learn? What does China, in its present mighty manifestation, have to teach us? “Uses of a redundant ideology” would be one fascinating module. Besides Deng Xiaoping’s pithy “to get rich is glorious”, is there a more inflected explanation of how the class struggle culminated in the re-establishment of the Chinese bourgeoisie, this time as the clients of the Communist Party? And if so, could it be taught without both teachers and students risking imprisonment? (via The important lessons China has for the world - Comment - Voices - The Independent)
Does this mean Stephen Schwarzman shouldn’t go ahead with his Scholarship? Of course not — I wish more people in his income bracket would follow his lead. But it’s worth remembering that it’ll take a lot more than mutual understanding to ensure a smooth Sino-American relationship going forward. (via The Limits of Stephen Schwarzman’s Scholarship Diplomacy - Matt Schiavenza - The Atlantic)
Stephen Schwarzman, chief executive officer of Blackstone Group LP (BX), said the world’s biggest private-equity firm will hire 50,000 U.S. military veterans in its portfolio companies by 2018. (via Schwarzman Says Blackstone Holdings to Hire 50,000 U.S. Veterans - Businessweek)
Many critics of private equity and Wall Street will bemoan Schwarzman’s attempt at securing his historical legacy by donating a small fragment of the large windfall he earned from the IPO of Blackstone to support this eponymous educational endeavor. To them, the benefits purportedly provided by the global financial markets today, which have evolved so rapidly in recent decades, are nebulous at best. However, Schwarzman’s own life hints tellingly at the power of a path not taken. Before he became one of the most successful practitioners of the “dark arts” of leveraged buy outs, he was a student at Yale University who dreamed of studying in England. Turned down first for a Rhodes Scholarship at Oxford and then later denied a fellowship at Cambridge, Schwarzman had little choice but to follow the well-trodden path to Wall Street. (via The New Colossus of Rhodes - Forbes)
The private equity giant decided to withdraw after discovering that Dell’s PC business was deteriorating faster than it had previously understood, people involved in the negotiations said.
The private equity giant, along with a separate bidder, the activist investor Carl C. Icahn, had been inspecting the books of the personal computer maker before deciding whether to make a rival bid to the $13.65-a-share offer to take the company private from the company’s founder, Michael S. Dell, and Silver Lake Partners, a technology-focused private equity firm.
Blackstone decided to withdraw after discovering that Dell’s business was deteriorating faster than it previously understood, the people involved in the negotiations said.
Under the terms of the deal, announced late on Monday, Blackstone will buy Strategic Partners, a private equity business owned by Credit Suisse, which is based in Zurich. The unit specializes in buying stakes in funds from other investors and has $9 …
The private-equity tycoon Stephen A. Schwarzman, backed by an array of mostly Western blue-chip companies with interests in China, is creating a $300 million scholarship for study in China that he hopes will rival the Rhodes scholarship in prestige and influence.
The program, whose endowment represents one of the largest single gifts to education in the world and one of the largest philanthropic gifts ever in China, was announced by Mr. Schwarzman in Beijing on Sunday.
Very excited to see how this develops. Tsinghua is where I taught and researched in 2010.
US private-equity magnate Stephen Schwarzman has launched a $300m (£200m) scholarship programme to send 200 foreign post-graduate students to study in China each year. Mr Schwarzman is donating $100m of his personal $6.5bn fortune to the fund, and is raising a further $200m. (via BBC News - Stephen Schwarzman unveils $300m China scholarship fund)
April 22 (Bloomberg) — Stephen Schwarzman, the billionaire chairman of Blackstone Group, is setting up a $300 million scholarship for foreign students to attend China’s Tsinghua University, the alma mater of senior officials including President Xi Jinping. Deirdre Bolton reports on Bloomberg Television’s “Money Moves.” (Source: Bloomberg)
Stephen Schwarzman Starts $300 Million Scholarship (by Bloomberg)
March 4 (Bloomberg) — Stephen Schwarzman, co-founder and CEO of Blackstone Group, received $213.3 million in pay and cash dividends last year, the private-equity firm reported yesterday in a filing, almost matching his payout of $213.5 million a year earlier. Deirdre Bolton reports on Bloomberg Television’s “Money Moves.” (Source: Bloomberg)