When David Rubenstein was a boy, his mother sent him for piano
lessons. She was sure the name Rubenstein—because of pianist Arthur
Rubinstein—conveyed talent. David’s piano teacher later called and told
his mother to save her money.
Rubenstein may never appear on the concert
stage, but he’s second to none as a performing-arts supporter. Cofounder
of the Carlyle Group private-equity firm and chairman of the Kennedy
Center, Rubenstein recently donated $2 million for a new organ in the
venue’s Concert Hall. In all, he’s given more than ten times that much
since he became chair in 2010. “Happiness is the most elusive thing,” he
says. “The performing arts make people happy.”
Rubenstein has donated so many millions to local institutions
that it makes you wonder: How does he decide where to put his resources?
“I look for things that were helpful to me in my life and things that
wouldn’t happen if I didn’t give the money.”
His alma maters, Duke and the University of Chicago, have been
beneficiaries. But because he built his company and raised his family
here, he dedicates himself to programs in Washington.
When the Smithsonian feared that the National Zoo would lose
its pandas, Rubenstein donated $4.5 million to the program. When the US’s
only copy of the Magna Carta came up for auction, he bought it for $21.3
million and lent it to the National Archives—permanently. Then he gave
another $800,000 for conserving the historic document and $13.5 million
for a new exhibit area. Rubenstein also funds scholarships for DC students
and awards for principals and teachers.
A billionaire without an entourage, he’s modest about his
impact: “The secret is to take advantage of your luck, build something,
and then find something great to do with your money.”