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Library Dues
The son of a linen- and curtain-store owner, Steve Schwarzman (MBA ’72), chairman and CEO of The Blackstone Group, has done pretty well for himself in life; he attributes a measure of that success to the public libraries he made use of as a youngster. Now a trustee of the New York Public Library, Schwarzman is donating $100 million to the institution, the largest gift in its history, the Associated Press reported (March 12, 2008). Established in 1895, the library is “a passport to the American dream for lower- and middle-income Americans and immigrants from around the world,” Schwarzman said. “It’s a free university for everyone, from children to scholars. I’ve always loved this library, particularly for the way it serves all people and entirely without cost to them.” The library aims to raise $1 billion over five years in order to expand and modernize.
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