Blackstone founder creates $300M China scholarship

Source: Yahoo News Posted By: Bill 4027 days ago

A U.S. private equity tycoon announced Sunday the establishment of a $300 million endowed scholarship program in China for students from around the world, and billed it as a rival to the prestigious Rhodes Scholarship.
Stephen A. Schwarzman, founder of the private equity firm Blackstone, said he would give $100 million as a personal gift and raise another $200 million to endow the Schwarzman Scholars program at Beijing's Tsinghua University. It will be the largest philanthropic gift with foreig

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