Higher education gets biggest gift in China’s history

A sod-turning ceremony at Tsinghua University in Beijing last Thursday marked the future location of Schwarzman College, a state-of-the-art residential institute designed specifically for the new Schwarzman Scholars programme. The event was recorded as the largest ever internationally funded philanthropic effort in China’s history.
Philanthropist Stephen A Schwarzman – chair, CEO and co-founder of Blackstone, an alternative asset management company – said at the ceremony that US$260 million (¥1.6 billion) had been raised for Schwarzman Scholars, the elite international scholarship programme announced in April this year. More...