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David Rubenstein Washington Monument Donation Will Help Repairs

Posted: January 19th, 2012 in David Rubenstein by LALATE

David Rubenstein Washington Monument Donation Will Help Repairs


CORAL GABLES (LALATE) – David Rubenstein is helping the Washington Monument repairs. David Rubenstein’s net worth was estimated last September at $2.7 billion. But today, officials confirmed that David Rubenstein, Carlyle Group co-founder, has given a $7.5 million gift to aid repairs on the Washington Monument. He is anxious to get the monument repaired as soon as possible.

On August 23, 2011, the Washington Monument suffered damages during the notable 5.8 magnitude earthquake. Thereafter, the National Park Service confirmed to news that it would take fifteen million dollars to repair the monument. By the end of the year, Congress approved a $7.5 million allocation of funds to repair the monument, provided Congress got a matching donation from the private section.

Officials say the damage to the structure is both exterior and interior. The structure reportedly needs reinforcement, exterior facade panels are cracked, and sections near the peak are damaged.

In a statement to news, Rubenstein said that he is a history buff. He also said that the country deserves to see the monument in its best condition “as soon as possible”.

Rubenstein’s group is an asset management firm with $148 billion in assets under management. Rubenstein grew up as the son of a postal worker in Baltimore. He previously made news giving the largest donation ever to he John F. Kennedy Center for the Performing Arts ($25 million). Rubenstein said he has long pledged to give away much of his wealth and continues to help historic destinations.

He previously bought a copy of the Magna Carta for $21 million in 2007, copy of the Emancipation Proclamation, and a copy of the Declaration of Independence. All of them have been donated to government departments / agencies in Washington. He is a graduate of University of Chicago and Duke University. He is listed as #144 richest man in the U.S.


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One Response to 'David Rubenstein Washington Monument Donation Will Help Repairs'

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  1. on January 19th, 2012 at 9:46 am

    I think the is a great first step, now if washing ton will only get off their butts and get this monment restored to its glory. can you make sure that Mr.Rubinstein reads this or put me intouch with him via e-mail……….thanks Hugh

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