Wall Street mogul Stephen Schwarzman unveils £186m scholarship programme in China for students from around the world
The scheme’s advisory board includes Tony Blair, Nicolas Sarkozy and Colin Powell
Wall Street mogul Stephen Schwarzman, whose firm, Blackstone, is one of the most biggest global players in the private equity arena, took part in a groundbreaking ceremony for the building that will house his £186m scholarship programme in China for students from around the world.
Alongside Chinese government and university officials, the founder of the private equity firm Blackstone turned a shovel at a ceremonial event on the campus of Tsinghua University. The first class of Schwarzman Scholars – based on the prestigious Rhodes Scholarship programme – will study there in 2016.
“My vision for Schwarzman Scholars is to help educate a future class of leaders who will advance relationships of mutual respect between the West and China, reducing tensions and leading to a new era of mutual prosperity,” he said.
The eight-storey building will include an auditorium, library, sunken garden, dining hall, fitness area, apartments and a floor area of over 250,000 sq ft. The US tycoon reckons it’s the largest philanthropic gift with foreign money in China’s history.
The endowment will allow 200 students each year to take part in a one-year master’s programme in public policy, economics and business, international relations or engineering at Tsinghua University, starting in June 2016.
Mr Schwarzman has personally contributed £62m to the programme, and private donors have contributed another £62m. The rest has come from a campaign that he has led over the last six months. The aim is that 45 per cent of the students would come from the US, 20 per cent from China and the rest from other parts of the world.
The advisory board includes former world leaders such as France’s Nicolas Sarkozy, Britain’s Tony Blair, Canada’s Brian Mulroney and Australia’s Kevin Rudd. Former US secretaries of state Henry Kissinger, Colin Powell and Condoleezza Rice are also on the board, as well as top cellist Yo-yo Ma.
Tsinghua is one of China’s top universities, and has produced many of China’s senior leaders, including both President Xi Jinping and former President Hu Jintao.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
UK weather: Snow to fall in the coming week with sub-zero temperatures to last until early February
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Ellen DeGeneres leads Johnny Depp, Gwyneth Paltrow and Paul Bettany in revealing game of Never Have I Ever
Nigel Farage: NHS might have to be replaced by private health insurance
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
British Muslim school children suffering a backlash of abuse following Paris attacks
George Galloway condemns 'racist, Islamophobic, hypocritical rag' Charlie Hebdo at freedom of speech rally
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Excellent Salary : Austen Lloyd: OXFORD - REGIONAL FIRM - An excellent opportu...
Super Package: Austen Lloyd: BRISTOL - SENIOR CLINICAL NEGLIGENCE - An outstan...
£15000 - £50000 per annum: Recruitment Genius: Fantastic opportunities are ava...
Negotiable: Recruitment Genius: A Compute Engineer is required to join a globa...