David Rubenstein

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David Mark Rubenstein (born August 11, 1949) is an American businessman, investor, and philanthropist.

A former financial analyst and lawyer, he is a Co-Founder and Co-Executive Chairman of The Carlyle Group, a global private equity investment company based in Washington, D.C.

He also currently serves as Chairman of the Kennedy Center for the Performing Arts, Chairman of the Smithsonian Institution, Chairman of the Council on Foreign Relations, and President of The Economic Club of Washington, D.C.

According to the Forbes ranking of the wealthiest people in the world, Rubenstein has a net worth of $3 billion.

Early life and education

Rubenstein grew up an only child in a Jewish family in Baltimore. His beginnings were modest. His father was employed by the United States Postal Service and his mother was a homemaker.

He graduated from the college preparatory high school Baltimore City College, at the time an all-male school, and then from Duke University, where he was elected to Phi Beta Kappa and graduated magna cum laude in 1970. He earned his J.D. from the University of Chicago Law School in 1973, where he was an editor of the University of Chicago Law Review.

Personal life

Rubenstein lives in Bethesda, Maryland, and was married to Alice Rubenstein (née Alice Nicole Rogoff), founder of the Alaska House New York and the Alaska Native Arts Foundation and former owner of Alaska Dispatch News. They met while both were working for the Carter Administration and married on May 21, 1983. They have three children, Alexandra, Gabrielle, and Andrew. His daughter, Gabrielle, founded Manna Tree, a private equity firm that invests in health and nutrition companies. The couple divorced on December 8, 2017.

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Business career

Rubenstein served in New York from 1973 to 1975, with Paul, Weiss, Rifkind, Wharton & Garrison. He served as chief counsel to the Subcommittee on Constitutional Amendments from 1975 to 1976. Rubenstein served as a deputy domestic policy advisor to President Jimmy Carter and worked in private practice in Washington, D.C.

Rubenstein founded The Carlyle Group in 1987, alongside William E. Conway Jr. and Daniel A. Jones. D'Aniello, D'Aniello. The firm has developed to become a multinational investment company with more than $293 billion under management, with over 1,800 employees in 31 offices on six continents.

According to A Pursuit of Wealth by Sicelo P. Nkambule, David Rubenstein expressed fear that the private equity boom would come to an end in January 2006: "This has been a golden age for our industry, but nothing continues to be golden forever." "We're actually operating as if the music isn't going to stop playing and the music isn't going to stop playing" one month later. I'm more worried about this problem than any other.' "These worries came to an abrupt halt at the end of 2007; private equity firms were unable to obtain financing for their transactions," Nkambule said.

"But once this period comes, when the banks' books are sold and new lending is launched, I think you'll see the private equity industry returning to the Platinum Age – better than it's ever been before." I do believe the private equity industry has a promising future, and that the best period for private equity is likely to come."

Rubenstein has said he was once offered the opportunity to meet Mark Zuckerberg (and invest in Facebook) before he dropped out of Harvard but turned against it, and this is his single biggest investment regret. Rubenstein also stated that he renounced a 20% interest in Amazon during the company's early years. He told Amazon founder Jeff Bezos that if he was lucky and everything worked out, he would at least be worth $300 million.

In 2018, he formed Declaration Capital, a family office focusing on venture, expansion, real estate, and family-owned businesses.

Rubenstein has been chastised for the work of The Carlyle Group, which also owns a number of mobile home parks and has been pushed homeless people out of their mobile homes by raising the rental price. In an episode of Last Week Tonight, John Oliver noted that manufactured homes are not affordable or inexpensive to relocate, and that poor people on fixed incomes face eviction and homelessness as rent increases threaten to price them out of their mobile home parks.

Rubenstein's first book was published in October 2019. The American Story: Interviews with Master Historians (Simon & Schuster), the book includes interviews with historians who discuss their fields of historical research. Rubenstein talks with David McCullough on John Adams, Jon Meachem on Thomas Jefferson, Ron Chernow on Alexander Hamilton, and Benjamin Franklin on Benjamin Franklin.

Simon & Schuster's second book, How to Lead, was published in September 2020. Rubenstein's leadership essays as well as 30 interviews with executives, government, military, athletic, and cultural figures are included in this book. Simon and Schuster's third book, The American Experiment, explores how America's government and democratic ideals have morphed over the centuries as told through the lives of Americans who have embodied the American dream in September 2021.

On Bloomberg Television, Rubenstein hosts two shows: The David Rubenstein Show: Peer to Peer Discussions and Bloomberg Wealth with David Rubenstein. Peer to Peer, which began airing on many PBS stations, is also available on Curiosity Stream.

On PBS, a television program produced by the New-York Historical Society, he also hosts History with David Rubenstein. Rubenstein is also the host of the "For the Ages" audio podcast, which was also published by the New-York Historical Society.

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