Blackstone’s Stephen Schwarzman talks about the ideas behind his “Schwarzman Scholars” program

In a bid to promote understanding among the world’s future leaders of China’s role in global developments, Stephen Schwarzman, co-founder of Blackstone, launched the Schwarzman Scholars project, a one-year master’s degree program for US, Chinese and other international students at Tsinghua University. More importantly, it is the single largest philanthropic initiative undertaken in China by largely international donors. Though a business magnate and financier, Schwarzman was appalled by the challenges of fund raising, but fascinated ultimately by its significance. At the ongoing China Development Forum, Schwarzman talked about the ideas for the program to CCTV’s Tian Wei.

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