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David Rubenstein puts his money where his mouth is

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    Philanthropist is Power Player of the Week

  • Duration 3:25
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Philanthropy as an ancient Greek word which means loving humanity and there are all sorts of ways to do that.

Giving your time your hard work giving your money.

Here's our power player of the week.

You can't take it with you so I think -- a big value in giving away the money while you can and while you're alive.

David Rubenstein is one of Washington's biggest business -- but he may be better known for giving his money away.

Almost everywhere you turn in the nation's capital there is one of those projects.

When the Washington monument was damaged by an earthquake.

Rubinstein agreed to split the fifteen million dollar repair with the government.

He bought a copy of the -- that's part of the 800 year old English Phillips rides for 41 million dollars.

I was -- enough to be able to get it and to put it on permanent loan here.

And this -- presided over its installation in the National Archives.

I'm very fortunate to be in a country where people like me can rise up to have these kind of good fortune.

This -- type of good fortune happened to me and I really wanna give back to Washington as well because this is where somebody that things have happened to me.

-- grew up in Baltimore the son of a postal clerk who never made more than 8000 dollars a year.

After getting a scholarship to duke he worked in Jimmy Carter's White House.

And 25 years ago he co founded the Carlyle group now one of the country's biggest private equity firms.

It was an advantage to upbringing I mean it's -- apply myself.

And that was a great advantage -- -- job is to raise the billions of dollars the company invests.

How many days a year do you travel I'm on a plane about 260 days a year it's a lot of travel.

I enjoy it -- -- wouldn't be doing it he has a big vacation home on Nantucket.

-- -- -- a rock with an inscription.

Description says on the whole I'd rather be working.

And that probably will be on my tombstone.

According to recent estimates not war.

Has made him a personal fortune of more than two billion dollars.

Which gives you more pleasure making money her giving it away.

Well of course giving away is greater pleasure of making money is an intellectual challenge it's fun it's been a large part of my life.

But giving away money is much more.

Complicated as well.

What it means is he wants his money to happen impact.

He's given millions for student scholarships for and a half million for the panda took the nationals -- Ten million to the Kennedy Center where he is chairman.

Any idea how much money you've given over the years.

I do know.

I do have that accountants.

But it's probably not something I'm gonna announce on television over under a hundred million dollars.

You can assume it probably be over that.

Not it's just a star.

Rubinstein has made the same pledge as Warren Buffett and Bill Gates to give away more than half of his wealth.

If I live a normal -- -- -- have the opportunity give away money for maybe another twenty years or so you never know if there's a heaven or not most people believe there is.

But I believe that if you give away money you might have a better chance of getting to have an end.

You know why take a chance.

Not surprisingly Rubenstein doesn't think much of the attacks on Mitt Romney's career and private -- -- it.

Carlyle has investments and more than 200 companies that employ more than 600000.

People.

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