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Loyalty & Respect
David Rubenstein And The Carlyle Group: The Kings Of Capital
Here’s a typical David Rubenstein Wednesday. Waking in Philadelphia, he joins with Chinese businessmen to attend a Wharton program set up jointly by the Chinese government and the Carlyle Group, the massive Washington, D.C.-based private equity firm he helps run. Then he hops on a Carlyle investment committee call to discuss imminent deals. By midday he’s back in the capital, lunching at the White House with an old friend, National Security Advisor Thomas Donilon, before returning to the office to prepare with some of his dealmakers for Carlyle’s upcoming investors conference. In the evening he’ll give a speech to the mutual fund industry’s lobbying group. And the rest of the week continues apace, from talking with an investment group in Michigan to interviewing prospective hires and dining with Jamie Dimon in New York. Come Saturday, Rubenstein has a down day: teaching a Princeton class and hosting a dinner featuring an expert on how pandas reproduce (Rubenstein pledged $4.5 million to the National Zoo in 2011 to promote panda procreation).
At 63, Rubenstein uses his plush Gulfstream G550 250 days a year. He says he enjoys the busy lifestyle, but behind almost every Rubenstein dinner, speech and self-effacing comment is something more: the prospect of a sale. This is not the kind of thing they teach at Harvard Business School, though Rubenstein, the 250th-richest person in the U.S., with an estimated net worth of $1.9 billion, believes it ought to be. “I am on some 30 nonprofit boards, which I love and to which I give a lot of money, but the networking is helpful to my firm,†Rubenstein explains. “I can help build the firm because of the contacts I make.â€
Here’s a typical David Rubenstein Wednesday. Waking in Philadelphia, he joins with Chinese businessmen to attend a Wharton program set up jointly by the Chinese government and the Carlyle Group, the massive Washington, D.C.-based private equity firm he helps run. Then he hops on a Carlyle investment committee call to discuss imminent deals. By midday he’s back in the capital, lunching at the White House with an old friend, National Security Advisor Thomas Donilon, before returning to the office to prepare with some of his dealmakers for Carlyle’s upcoming investors conference. In the evening he’ll give a speech to the mutual fund industry’s lobbying group. And the rest of the week continues apace, from talking with an investment group in Michigan to interviewing prospective hires and dining with Jamie Dimon in New York. Come Saturday, Rubenstein has a down day: teaching a Princeton class and hosting a dinner featuring an expert on how pandas reproduce (Rubenstein pledged $4.5 million to the National Zoo in 2011 to promote panda procreation).
At 63, Rubenstein uses his plush Gulfstream G550 250 days a year. He says he enjoys the busy lifestyle, but behind almost every Rubenstein dinner, speech and self-effacing comment is something more: the prospect of a sale. This is not the kind of thing they teach at Harvard Business School, though Rubenstein, the 250th-richest person in the U.S., with an estimated net worth of $1.9 billion, believes it ought to be. “I am on some 30 nonprofit boards, which I love and to which I give a lot of money, but the networking is helpful to my firm,†Rubenstein explains. “I can help build the firm because of the contacts I make.â€
