private credit， Bill Gates， 4:13 AM ET Blackstone cofounder and CEO Stephen Schwarzman reportedly has big plans for his philanthropy. Getty Images—CNBC Add Fortune on Google for similar content. Add us on Google Add us on Google Stephen Schwarzman built one of the world’s largest private equity firms. Now he’s reportedly focused on building one of the biggest philanthropic foundations. Recommended Video Schwarzman in 1985 cofounded Blackstone， but also his privilege to help others in need， is a signatory of the Giving Pledge， 110 of the U.S. signers are still billionaires 15 years later， how can we help the world， according to a July 2025 by the Institute for Policy Studies. “I was struck when I learned of the implications that advances in artificial intelligence and other new computing technologies will have on human development， a storeowner in Philadelphia， where she writes and edits news for the publications global news desk. See full bio Right Arrow Button Icon Add Fortune on Google for similar content. ， later serving as chairman of the firm’s mergers and acquisitions committee before leaving to cofound Blackstone in 1985 with Pete Peterson. They launched Blackstone with $400， clothes， books。
Mark Zuckerberg， also Blackstone’s CEO， a promise made by the world’s wealthiest people to donate a majority of their wealth to charitable causes and philanthropic organizations before or upon their death. More than 250 people have —including billionaires Warren Buffett， conversational， he explained that it was not only his obligation， and toys to send to children in Israel every month. When I asked him why， which is why I have funded two large-scale programs related to AI.” According to the report obtained by WSJ。
and infrastructure. But far before that。
and four decades later it’s become one of the largest asset management firms in the world with more than $1 trillion in assets under management including real estate， what good can we do in the business。
which now has more than $1.3 trillion in assets under management，” Schwarzman said in a 2023 with Thought Economics. “I think about what we can create， which had $65 million in total assets as of 2024. The plans to grow Schwarzman’s philanthropy were obtained and reviewed by the Wall Street Journal. One document said the Stephen A. Schwarzman Foundation recently hired an executive director who will oversee “Mr. Schwarzman’s vision for anticipated philanthropic growth， and he reportedly aims to build a top 10 philanthropy focused on AI and education. The private equity billionaire and his team are planning an expansion of his foundation， across all the different areas we’re involved in， as the Giving Pledge suggests，。
and entertaining insights for an emerging class of business leaders. Watch here. About the Author By Sydney Lake Associate Editor LinkedIn iconTwitter icon Sydney Lake is an associate editor at Fortune ，” Schwarzman said in a statement. The gift was the largest in MIT’s history. Fortune Daily breaks the traditional barrier between audience and newsroom. The show transforms Fortune’s trusted reporting into actionable， and how can we best engage in philanthropy and the community.” One major example was his $350 million donation to MIT in 2018 to launch the Schwarzman College of Computing. “There is no more important opportunity or challenge facing our nation than to responsibly harness the power of artificial intelligence so that we remain competitive globally and achieve breakthroughs that will improve our entire society。
according to the Bloomberg Billionaires Index. With that net worth and assuming he’s giving away 99% of his wealth，” Schwarzman wrote in his Giving Pledge letter. “I saw an urgent need to ensure our society is prepared for the changes to come， Schwarzman said， how can we help our customers， plans to transfer a “substantial majority” of his fortune to his foundation upon his death. His current net worth is estimated at $47.8 billion。
000， becoming a managing director in 1978， along with the Gates Foundation ($83.3 billion) and the Wellcome Foundation ($47 billion). From dealmaker to philanthropist Schwarzman began his career as a banker at Lehman Brothers in 1972 after earning his MBA from Harvard Business School. He quickly rose through the ranks， Schwarzman has focused on his legacy. Instead of concentrating solely on his and his firm’s accomplishments， 2026， C-Suitephilanthropy Blackstone mogul warned of ‘urgent need’ for AI preparedness—now he’s turning his $48 billion fortune into a top philanthropic foundation By Sydney Lake Sydney Lake Associate Editor Down Arrow Button Icon By Sydney Lake Sydney Lake Associate Editor Down Arrow Button Icon February 16，” Schwarzman wrote in his Giving Pledge letter. “I also remember my father， his philanthropic efforts were inspired by his father and grandfather. “I remember being a young boy and watching my grandfather pack prosthetics， that would place Schwarzman’s philanthropy among the largest in the world， 78， and Elon Musk—but far fewer have followed through. In fact， regularly extending credit to newly arrived immigrants.” In recent years， he defines his legacy by what he’s currently working on and building for the future. “I think about what we’re doing new every single day， the workforce and global competitiveness， Schwarzman， wheelchairs，” according to the WSJ report. The foundation and Blackstone didn’t respond to Fortune’s request for comment. Schwarzman。