The NY Times reports that Stephen A. Schwarzman, chief executive of the Blackstone Group, has donated $100 million to the NY Public Library as part of their $1bn expansion. In exchange, Mr. Schwarzman's name will be etched on the exterior of the library's famous, lion guarded building on 5th Ave., to be renamed the Schwarzman Building.
"They said, 'We'd like you to be the lead gift and give us $100 million, and we'd like to rename the main branch after you.' I said, 'That sounds pretty good.'"Schwarzman's stake in Blackstone has fallen from $7.8bn to $4bn as stock in the company has plummeted 32% in the last 2 months alone.
Well, I think I speak for all New Yorkers when I thank Mr. Schwarzman for this generous gift, and admire his selfless engraving of his name on one of the city's most beloved landmarks. In fact, I'm surprised he didn't pay for a flashing neon sign reading:
The Stephen A. Schwarzman is a Great Guy and has Done Very Well for Himself Building & New York Public Library