David Mark Rubenstein is a prominent American business owner, investor, and philanthropist. He is best known as the co-founder of The Carlyle Group, a global private equity investment company based in Washington, D.C., where he currently serves as co-executive chairman. Rubenstein also holds influential positions as chairman of the Kennedy Center for the Performing Arts, the Smithsonian Institution, and the Council on Foreign Relations. Additionally, he is the president of The Economic Club of Washington, D.C. Despite coming from a modest background in Maryland, Rubenstein achieved great success through his education at prestigious institutions such as Baltimore City College, Duke University, and the University of Chicago Law School. He began his legal career at Paul, Weiss, Rifkind, Wharton & Garrison LLP and later served as chief counsel to the U.S. Senate Judiciary Committee’s Subcommittee on Constitutional Amendments. In 1987, Rubenstein co-founded The Carlyle Group with William E. Conway Jr. and Daniel A. D’Aniello. With an estimated net worth of $3.2 billion, according to Forbes, Rubenstein’s accomplishments and contributions have made him a highly respected figure in the business and philanthropic communities.
Quick Facts
- Also Known As: David Mark Rubenstein
- Age: 74 Years, 74 Year Old Males
- Family:
- Spouse/Ex-: Alice Rogoff (m. 1983)
- Father: Robert Rubenstein
- Mother: Bettie
- Children: Alexa Rachlin, Gabrielle Rubenstein
- Born Country: United States
- Billionaires
- Investors
- City: Baltimore, Maryland
- U.S. State: Maryland
- More Facts:
- Education: Duke University, University of Chicago
Childhood & Early Life
David Rubenstein was born on August 11, 1949, in Baltimore, Maryland, USA, to Bettie and Robert Rubenstein. His family was a modest, Jewish household. His father worked for the US Postal Service, while his mother was a homemaker.
He obtained a degree from the college preparatory high school Baltimore City College, which was an all-male school at the time. He then went on to graduate Phi Beta Kappa and magna cum laude from Duke University in 1970.
He studied law at the University of Chicago Law School. During his time there, he served as the editor of the University of Chicago Law Review. In 1973, Rubenstein received his law degree.
Career
Soon after graduating from law school, David Rubenstein started practicing. Between 1973 and 1975, he worked for Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York. From 1975 to 1976, he was employed as chief counsel to the U.S. Senate Judiciary Committee’s Subcommittee on Constitutional Amendments. Rubenstein also served as the deputy domestic policy advisor to President Jimmy Carter and had a private practice in Washington, D.C.
In 1987, Rubenstein, along with William E. Conway Jr. and Daniel A. D’Aniello, established The Carlyle Group. At present, the global investment firm manages $223 billion worth of assets. They do businesses across four segments: corporate private equity, real assets, global market strategies, and investment solutions. The company has over 1500 employees working in 31 offices across six continents.
In October 2016, he started hosting ‘The David Rubenstein Show: Peer to Peer Conversations’. It airs on Bloomberg TV and many PBS stations. In 2018, he set up Declaration Capital, a family office that concentrates on venture, growth, and family-owned businesses.
Philanthropic Works
Rubenstein was one of the 40 early individuals who have promised to give over half of their wealth to philanthropic causes or charities as part of The Giving Pledge. He has donated a significant amount of money to Duke University, Harvard University, Johns Hopkins University, the University of Chicago, the Smithsonian Institution, The John F. Kennedy Center for the Performing Arts, the National Archives, the Library of Congress, and the National Park Foundation.
Rubenstein bought the last privately-owned copy of the Magna Carta at Sotheby’s auction house in New York for $21.3 million in December 2007. It is currently displayed at the National Archives in Washington, D.C. In May 2010, he was chosen to serve as the chairman of the board of the Kennedy Center, Washington, D.C. He has also served as the vice chairman of the board of the Lincoln Center for the Performing Arts, New York, and chairman of its fundraising drive.
In November 2013, he paid $14.1 million for a copy of the Bay Psalm Book and promised that he would let it be displayed at public collections and exhibitions around the world. On February 15, 2016, Presidents’ Day, he donated $18.5 million to the National Park Foundation, so its educational resources could be increased, public access could be improved, and the Lincoln Memorial on the National Mall in Washington, D.C. could be repaired and restored.
Family & Personal Life
David Rubenstein met newspaper publishing executive, writer, and philanthropist Alice Nicole Rogoff while they were both serving in the Carter Administration. They exchanged wedding vows on May 21, 1983, and went on to have three children together: Alexandra, Gabrielle, and Andrew. In 2005, the couple separated. Their divorce was finalized on December 8, 2017.