Blackstone founder creates $300M China scholarship

Apr 21, 2013 by

APBEIJING (AP) — The founder of the U.S. private equity firm Blackstone announced Sunday the establishment of a $300 million scholarship program in China for postgraduates from around the world.

The money being raised by Stephen A. Schwarzman will be the largest philanthropic gift with foreign money in China’s history, according to the tycoon and Beijing’s Tsinghua University, which will host the program.

Schwarzman will make a personal gift of $100 million and plans to raise another $200 million to establish a postgraduate program for foreign students that will aim to rival the Rhodes scholarships, which bring dozens of foreign students to Oxford University with the aim of producing outstanding leaders. Already, $100 million has been raised in the last six months, Schwarzman said.

via Blackstone founder creates $300M China scholarship – News –

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