Central Park Gets $100 Million Boost From Paulson

Tuesday, 23 Oct 2012 10:46 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Billionaire John Paulson and the Paulson Family Foundation are donating $100 million to the Central Park Conservancy, according to a news release Tuesday.

Paulson, 56, is founder of Paulson & Co., a New York-based hedge fund that manages $21 billion across 10 funds. Paulson was worth $11.8 billion yesterday, according to data compiled by Bloomberg. His firm earned $15 billion in 2007 betting against the subprime mortgage market.

Paulson was raised in the middle-class Beechhurst section of Bayside, in New York’s Queens borough. He was valedictorian at New York University and attended Harvard Business School.

After working in risk arbitrage at Bear Stearns Cos., Odyssey Partners and Gruss Partners, Paulson founded Paulson & Co. in 1994, with $2 million from friends and family.

Paulson in 2009 donated $20 million to New York University Stern School of Business and the following year, along with his wife, Jenny, donated $5 million to Southampton Hospital in New York, which named an emergency department after them.

Paulson in 2010 also donated $15 million to a children’s and maternity hospital in Guayaquil, Ecuador, according to a Nov. 21, 2010 statement.

The Central Park Conservancy was founded in 1980, according to its website. Its mission was to restore as America’s foremost urban public space, as envisioned by its 19th-century designers, Frederick Law Olmsted and Calvert Vaux. In 1998, the Conservancy and the City of New York signed a management agreement formalizing their then 18-year public-private partnership.

© Copyright 2014 Bloomberg News. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Ferguson Prosecutor: Some Witnesses Were 'Not Telling the Truth'

Friday, 19 Dec 2014 22:48 PM

Some witnesses who appeared before the grand jury investigating the death of unarmed black teenager Michael Brown were " . . .

Judge Dismisses Suit on Oklahoma Execution Access

Friday, 19 Dec 2014 22:40 PM

A federal judge on Friday dismissed a lawsuit filed by media organizations seeking greater access to the execution of Ok . . .

GOP Lawmakers Write Obama on Power Plant Pollution Regulations

Friday, 19 Dec 2014 22:06 PM

Ninety-six Republican lawmakers have signed a letter urging President Barack Obama to drop the Environmental Protection  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved