The billionaire co-founder of the Carlyle Group is donating $7.5 million to help repair the 555-foot-tall Washington Monument that has been closed since suffering extensive damage during a 5.8 magnitude earthquake in August. The money is from David Rubenstein, co-founder and managing director of the global asset-management firm that handles $148 billion in assets, The Washington Post reported
Rubenstein recently donated $4.5 million to the National Zoo’s giant panda program and gave $13.5 million to the National Archives. Rubenstein, 62, is the son of a Baltimore postal worker and his net worth has been estimated by Forbes magazine at $2.7 billion, the Post reported.
Rubenstein told the Post that he made a deal with the federal government to split the estimated $15 million repair cost. “They would put up half the money for the repairs,” he told the paper. “As a good citizen, I would put up half of it myself.
Other examples of Rubenstein’s largesse include his purchases of rare documents for the country including a copy of the Magna Carta, a copy of the Emancipation Proclamation, and a copy of the Declaration of Independence. The treasures are currently housed in such places as the White House, State Department and the National Archives, the Post reported.
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