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A Rhodes scholarship has long been one of the prestigious honors student can -- Not one of America's top businessmen -- spending millions descend the next generation of scholars to China.
Here's our power player of the.
Just exceptionally rewarding.
To help other people and give them the kind of shot in life.
-- that we'd all like to have.
Steve Schwartzman is head of the Blackstone Group the world's largest private equity firm.
According to estimates he's worth six and a half billion dollars but this story is and about how he makes money it's about how he gives it away.
And 21 century program.
To develop leaders specifically to the world limited today.
In this -- Last month he was invasion.
Announced -- for -- -- scholars program.
To send 200 students a year to one of China's top universities.
China growing at double or triple the rate the developed world.
And if left alone.
That could create problems of tensions of -- type.
Schwartzman is modeled his program on the -- scholarships.
Started a century ago when Britain.
He wrote a check for 100 million dollars and is raising 200 million more.
You can see that are relatively small group.
Very well trained.
People taking their place in society can have a very big impact.
-- the future course of the world.
Hiring our veterans and military spouse is not just -- patriotic thing to do it's the Smart thing to do two weeks ago Schwartzman was at the white house on a different mission.
-- Blackstone which owns eighty companies that employ 730000.
We'll hire 50000 military veterans over the next five years.
I think it's good business.
But it's also.
An essential part of who we are as Americans.
That we really need time to help the people who help us.
-- as sharply criticized Obama economic policy.
But when we talk -- focused on dysfunction across Washington.
If we got things in line in the right way had a more positive spin.
My view has always been that we'd have another one and a half to 2%.
It ends up creating millions and millions of more jobs do you think that Obama care is keeping a lot of businessmen from hiring people.
I think there's uncertainty about the introduction of the new health care regulations.
You end up.
Making people more cautious.
In terms of hiring.
But again this isn't about how you get rich it's about the 100 million dollars -- donated to the New York Public Library.
Which is harder making all that money we're getting some of -- away.
Well actually I I enjoy both I like impacting people giving them the kind of shot I think they deserve.
-- in this society we live in.
Not everybody gets a boost not everybody gets a mentor.
And those of us who were fortunate.
Need to reach out to people and impact them.
Forsberg says he was never in the running to be a Rhodes scholar when he was in school.
He says that was part of the reason he wanted to set up his own scholarship program.
And not -- for today took all the moms who are watching especially mine have a right Mother's Day.
And we'll see you next Fox News.
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