"Schwarzman in 1985 cofounded Blackstone, which now has more than $1.3 trillion in assets under management, and now reportedly aims to build a top-10 philanthropy focused on AI and education. The private-equity billionaire and his team are planning an expansion of his foundation, which had $65 million in total assets as of 2024. One document said the Stephen A. Schwarzman Foundation recently hired an executive director who will oversee "Mr. Schwarzman's vision for anticipated philanthropic growth," according to the WSJ report."
"I was struck when I learned of the implications that advances in artificial intelligence and other new computing technologies will have on human development, the workforce and global competitiveness," Schwarzman wrote in his Giving Pledge letter. "I saw an urgent need to ensure our society is prepared for the changes to come, which is why I have funded two large-scale programs related to AI."
"Schwarzman, also Blackstone's CEO, is a signatory of the Giving Pledge, a promise made by the world's wealthiest people to donate a majority of their wealth to charitable causes and philanthropic organizations before or upon their death. More than 250 people have signed the pledge-including billionaires Warren Buffett, Bill Gates, Mark Zuckerberg, and Elon Musk-but far fewer have followed through. In fact, 110 of the U.S. signers are still billionaires 15 years later, according to a July 2025 report by the Institute for Policy Studies."
Stephen Schwarzman cofounded Blackstone in 1985; Blackstone manages more than $1.3 trillion in assets. Schwarzman plans to build a top-10 philanthropy focused on artificial intelligence and education and to expand the Stephen A. Schwarzman Foundation, which held $65 million in assets in 2024. The foundation recently hired an executive director to oversee the anticipated philanthropic growth. Schwarzman is a Giving Pledge signatory and has funded two large-scale AI programs. He intends to transfer a substantial majority of his fortune to the foundation upon his death. The Giving Pledge has over 250 signatories, many remaining billionaires.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]