David Rubenstein
Born 1949 · Age 76
American lawyer, businessman, philanthropist; co-founder and co-chairman of The Carlyle Group; owner of the Baltimore Orioles; major donor to cultural and historic institutions.
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Life & Career Timeline
Born in Baltimore, Maryland
David Mark Rubenstein born into a Jewish family in Baltimore; only child; father a USPS file clerk, mother later worked in a dress shop.
Graduated Baltimore City College (high school)
Graduated from the college preparatory high school Baltimore City College (an all-male school at the time).
Graduated Duke University, BA magna cum laude
Earned Bachelor of Arts in political science; elected to Phi Beta Kappa.
Joined Paul, Weiss law firm (New York)
Practiced law with Paul, Weiss, Rifkind, Wharton & Garrison from 1973 to 1975.
Earned J.D., University of Chicago Law School
Graduated from law school and served as an editor of the University of Chicago Law Review.
Chief counsel, Senate Judiciary Subcommittee on Constitutional Amendments
Served as chief counsel to the U.S. Senate Judiciary Committee's Subcommittee on Constitutional Amendments (1975–1976).
Deputy Assistant to the President for Domestic Policy (Carter Administration)
Served as deputy domestic policy advisor to President Jimmy Carter (approx. 1977–1981).
Partner at Shaw, Pittman, Potts & Trowbridge
Returned to private practice in Washington, D.C. and became a partner at Shaw, Pittman (now Pillsbury Winthrop Shaw Pittman).
Married Alice Rogoff
Married Alice Nicole Rogoff (met while both working in Carter Administration).
Initial Carlyle capital raised: $5M
Carlyle raised approximately $5 million of initial capital; ~$3 million allocated to investments and remainder for operations.
Co-founded The Carlyle Group
Founded The Carlyle Group in Washington, D.C., with William E. Conway Jr. and Daniel A. D'Aniello; positioned to invest in government-related businesses.
First Carlyle buyout fund ~$100M
By 1990 Carlyle had raised a $100 million buyout fund (transitioning from deal-by-deal to institutional fund raising).
First major Duke donation: $5M
Donated $5 million to Duke's Sanford School of Public Policy; led to naming Rubenstein Hall.
Golden Plate Award (American Academy of Achievement)
Received the Golden Plate Award presented by Eli Broad during the International Achievement Summit.
Horatio Alger Award (Class of 2007)
Recipient of the Horatio Alger Award (recognizing perseverance and philanthropic efforts).
Purchased Magna Carta at Sotheby's for $21.3M
Bought the last privately owned copy of the 1297 Magna Carta for $21.3 million; later loaned it to the National Archives for public display.
Loaned Magna Carta to National Archives for display
Magna Carta placed on public display at the National Archives in Washington, D.C.
Appointed Citizen Member, Smithsonian Board of Regents
Named to a six-year term on the Smithsonian Institution board of regents starting 2009; reappointed 2015, named chairman in 2021 (term expired 2021).
Appointed Chairman of the Kennedy Center Board
Appointed chairman of the John F. Kennedy Center for the Performing Arts board (served as chairman from 2010 until 2025 when a change occurred).
Signed The Giving Pledge (initial group)
Among the initial group (~40) pledging to donate more than half of his wealth to philanthropic causes (Giving Pledge, launched 2010).
Purchased Abel Buell map (1784) and loaned to Library of Congress
Acquired the first map of the U.S. at Christie's and loaned it for public display.
Donated $13.5M to National Archives
Gift to fund a new gallery and visitor center at the National Archives.
Donated to National Zoo/panda program (initial gifts)
Made early gifts (including a $4.5M gift publicized in 2011) to support the National Zoo's giant panda conservation program; later total gifts between 2011–2024 reached $22M.
Purchased a signed Emancipation Proclamation for $2M
Acquired one of Lincoln's signed copies of the Emancipation Proclamation and loaned it to museums; later donated related items to NMAAHC.
The Carlyle Group IPO – raised ~$671M
Carlyle went public in 2012, an inaugural public offering that raised about $671 million.
Major, multi-year donations to Monticello and Mulberry Row restoration
Gave $20M in 2013 and 2015 to the Thomas Jefferson Foundation used for restoration in enslaved community, infrastructure, and restoration of James Madison/Jefferson sites.
Donated $10M to Mount Vernon (Fred W. Smith Library)
Gift to Mount Vernon Ladies' Association to construct the Fred W. Smith National Library for the Study of George Washington and endow rare books/manuscripts fund.
Donated $10M to Kennedy Center (part of larger giving)
Part of major philanthropic support to the Kennedy Center; Rubenstein later became its largest individual contributor totaling $111M.
Donated $50M toward Kennedy Center expansion
Part of $111M total contributions to Kennedy Center; $50M specifically funded half of a 65,000 sq ft expansion (announced 2013).
Purchased The Pennsylvania Evening Post (1776) for $632,500
Acquired the first newspaper printing of the U.S. Declaration of Independence; later loaned it to the Newseum in 2016.
Purchased Bay Psalm Book for $14.1M
Bought the first book printed in British North America (highest price ever paid for a printed book) and loaned it to Duke University for display.
Elected to American Academy of Arts & Sciences
Elected as a member of the American Academy of Arts and Sciences (2014).
Donated ~$12M to refurbish Arlington House
Contributed approximately $12 million for restoration work at Arlington House (the Robert E. Lee Memorial); restoration completed in 2021.
Donated $10M to Montpelier (James Madison's home)
Gift to support renovation and preservation of Montpelier.
Carnegie Medal of Philanthropy
Recipient of the Carnegie Medal of Philanthropy in 2015.
Donated $5.37M to National Park Foundation for Iwo Jima/Marine Corps War Memorial restoration
Gift funded restoration at the Marine Corps War Memorial in Arlington, VA.
Donated $20M to the Institute for Advanced Study (Rubenstein Commons)
Gift to fund the New Commons Building (Rubenstein Commons) providing conference and meeting space at IAS in Princeton.
Total contribution to Kennedy Center recorded at $111M (largest individual contributor)
Rubenstein had become the largest individual contributor in Kennedy Center history with total gifts reported at $111 million by 2016.
Donated $18.5M to National Park Foundation for Lincoln Memorial restoration
Gift to expand educational resources, improve public access, and repair and restore the Lincoln Memorial (Park Service centennial project).
Launched 'The David Rubenstein Show: Peer to Peer Conversations' (Bloomberg / PBS)
Television interview series debuted (Peer-to-Peer began airing October 2016); later syndicated on PBS and Curiosity Stream.
Elected Chair, Duke University Board of Trustees (term 2013–2017 concluded)
Served as chair of Duke University's board of trustees from 2013 through 2017 and left the board in 2017 after long service and philanthropy exceeding $100M to Duke.
Founded Declaration Capital (family office)
Established Declaration Capital, a family office focused on venture, growth, real estate, and family-owned businesses.
Received several honors (2018)
Legend in Leadership Award (Yale SOM), ABANA Achievement Award, honorary degree from Dartmouth College among other recognitions in 2018.
Donated $10M to Thomas Jefferson Memorial upgrades
Gift to support expanded museum, accessibility improvements, and exhibit space at the Jefferson Memorial (work began 2021).
Duke University Medal and other honors (2019)
Awarded Duke’s University Medal (highest honor), honorary degree from Brown University, Harvard Club of Washington DC Public Service Award, and elected to American Philosophical Society in 2019.
Published first book 'The American Story' (Simon & Schuster)
Book of interviews with historians on areas of historical expertise; Rubenstein's first published book (Oct 2019).
Donated $10M to Library of Congress (Jefferson Building refurbishment)
Gift to help upgrade and refurbish the Jefferson Building of the Library of Congress (announced 2020).
Premiered 'History with David Rubenstein' on PBS
PBS television series produced by the New-York Historical Society premiered in July 2020.
Published 'How to Lead' (Simon & Schuster)
Second book containing Rubenstein's reflections on leadership and 30 interviews with notable leaders (Sept 2020).
Donated $15M to Johns Hopkins Otolaryngology (hearing center)
Initial $15M gift (Oct 2015) and a subsequent $15M gift in Jan 2021 to support therapeutic approaches to preserve and restore hearing.
Named Chairman, National Gallery of Art Board of Trustees
Elected chairman of the NGA board, replacing Sharon Rockefeller; had earlier donated to NGA East Building refurbishment (project completed Sept 2016) and gave $10M in 2021 for digital operations.
Published 'The American Experiment' (Simon & Schuster)
Third book (Sept 2021) exploring the evolution of U.S. government and democratic ideals through biographies.
Elected Chair, University of Chicago Board of Trustees
Became chair of the University of Chicago's board of trustees in 2022 (had been a trustee since May 31, 2007).
Donated $15M to United States Holocaust Memorial Museum
Announced $15M gift in May 2022 to support the museum's collection; the collection was renamed the David M. Rubenstein National Institute for Holocaust Documentation.
Published 'How to Invest' (Simon & Schuster)
Fourth book, published Sept 13, 2022, sharing insights from interviews with investors.
Donated $1.5M to Jewish Museum of Maryland
Contribution to expansion and modernization of the Jewish Museum of Maryland (2024).
Donated $10M to National Zoo (giant panda program)
September 24, 2024 gift to the National Zoo and Smithsonian Conservation Biology Institute for the giant panda conservation program (part of $22M given 2011–2024).
Forbes estimated net worth: $3.7B (mid-2024)
Forbes estimated Rubenstein's net worth at $3.7 billion in mid-2024.
Led investment group to acquire the Baltimore Orioles (agreement announced)
Rubenstein headed an ownership group (including Cal Ripken Jr.) to buy the Baltimore Orioles from the Angelos family; purchase price reported at $1.7–1.725 billion (announced Jan 2024).
Ownership of Orioles unanimously approved
Major League Baseball owners unanimously approved Rubenstein's ownership group as the new principal owner of the Baltimore Orioles (March 27, 2024 reporting).
Published 'The Highest Calling: Conversations on the Presidency'
Fifth book (Simon & Schuster) published Sept 10, 2024, featuring interviews with historians on U.S. presidents.
Awarded Presidential Medal of Freedom
Received the Presidential Medal of Freedom (listed as 2025 award by President Joe Biden).
Removed as Chairman of the Kennedy Center and board overhaul
Following a political change, President Donald Trump replaced Rubenstein as chair of the Kennedy Center in February 2025 as part of a broader board replacement reported in 2025.
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