Billionaire John Paulson and the Paulson Family Foundation are donating $100 million to the Central Park Conservancy, the largest parks donation ever, according to Bloomberg.
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 contribution
will help renovate and maintain park facilities and pay for recreation
programs, said Doug Blonsky, president of the conservancy, which is responsible
for its maintenance and operations. Half will bolster the park’s endowment,
which now stands at $144 million, Blonsky said.
“The Conservancy is
responsible for transforming and sustaining Central Park as the celebration of
culture, nature and democracy that it is today,” Paulson said in a statement.
“It is my hope that today’s contribution will help it endure and flourish.”
No comments:
Post a Comment