Stephen Schwarzman, an Abington High School graduate and CEO and co-founder of the Blackstone Group, credits his philanthropy to his grandfather’s influence, writes Daniella Genovese for Yahoo! Finance.
When he was a young boy, Schwarzman watched his grandfather send wheelchairs from a warehouse behind the family’s Philadelphia store to people in Israel every few months. When he asked why he was doing that, he received a simple answer.
“People need help, and I believe in helping them,” said his grandfather.
This response has guided Schwarzman ever since.
“He just learned that was the type of thing you were supposed to do,” said Schwarzman. “It was part of his life, it was supposed to be part of our lives, and we should always be looking out for other people.”
Led by this philosophy, Schwarzman has built a reputation for philanthropic endeavors over the years.
Most recently, he has signed the Giving Pledge, committing to give the majority of his more than $18 billion worth fortune to philanthropic causes.
“It’s important to help provide an example of what people of means should do,” said Schwarzman.
Read more about Stephen Schwarzman at Yahoo! Finance by clicking here.