Saturday, 28 March 2015
Last updated 12 hours ago
Oct 23 2012 | 1:22pm ET
John Paulson may have hit on hard times—but not that hard.
The Paulson & Co. founder has enough left in the bank to scratch up $100 million for the Central Park Conservancy, by far the largest ever gift to a public park. The donation was announced this morning at a news conference by Mayor Michael Bloomberg at Central Park's iconic Bethesda Terrace.
"Walking through the park in different seasons, it kept coming back that in my mind Central Park is the most deserving of all of New York's cultural institutions," Paulson, who lives just a few doors from the park on East 86th Street, said. "And I wanted the amount to make a difference. The park is very large, and its endowment is relatively small."
Paulson's gift will increase that endowment by more than one-third, to almost $200 million. Half of the donation will be used for capital improvements.
Paulson, who was born in Queens and said he remembers coming to a dilapidated park as a teenager, said in particular he'd like to see the park's North Woods restored and its most-heavily used entrance, at Columbus Circle, improved.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…