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. Schwarzman in 1985 cofounded Blackstone, which now has more than $1.3 trillion in assets under management, and now 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, 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,” according to the WSJ report. Read more: https://fortune.com/2026/02/16/stephen-schwarzman-blackstone-ceo-48-billion-fortune-to-philanthropic-foundation-focused-on-ai/ submitted by /u/fortune
Originally posted by u/fortune on r/ArtificialInteligence