Stephen Allen Schwarzman is an American businessman and philanthropist. He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with former chairman and CEO of Lehman Brothers and US Secretary of Commerce Pete Peterson, his personal fortune is estimated at $17.2 billion as of October 2019. As of 2019, Forbes ranked Schwarzman at 100th on its World's Billionaires List. Schwarzman served as Chairman of President Donald Trump's Strategic and Policy Forum. Schwarzman was raised in a Jewish family in Huntingdon Valley, the son of Arline and Joseph Schwarzman, his father owned Schwarzman's, a former dry-goods store in Philadelphia, was a graduate of the Wharton School. Schwarzman attended the Abington School District in suburban Philadelphia and graduated from Abington Senior High School in 1965, he attended Yale University, where he was part of the Bones secret society. After graduating in 1969, he served in the U. S. Army Reserve before attending Harvard Business School, where he graduated in 1972.
Schwarzman's first job in financial services was with Donaldson, Lufkin & Jenrette, an investment bank which merged with Credit Suisse in 2000. After business school, Schwarzman worked at the investment bank Lehman Brothers, became a managing director at age 31, head of global mergers and acquisitions. In 1985, Schwarzman and his boss, Peter Peterson, started The Blackstone Group, which focused on mergers and acquisitions. Blackstone would branch into business acquisition, real estate, direct lending, alternative assets, now has some $500 billion in assets under management; when Blackstone went public in June 2007, it revealed in a securities filing that Schwarzman had earned about $398.3 million in fiscal 2006. He received $684 million for the part of his Blackstone stake he sold in the IPO, keeping a stake worth $9.1 billion. In June 2007, Schwarzman described his view on financial markets with the statement: "I want war, not a series of skirmishes... I always think about what will kill off the other bidder."In September 2011, Schwarzman was listed as a member of the International Advisory Board of the Russian Direct Investment Fund.
Schwarzman is a Republican. He is a long-time friend of President Donald Trump and provides outside counsel, served as chair of Trump's Strategic and Policy Forum. In response to criticism for his involvement with the Trump administration, Schwarzman penned a letter to current Schwarzman Scholars, arguing that "having influence and providing sound advice is a good thing if it attracts criticism or requires some sacrifice."He raised $100,000 for George W. Bush's political endeavors. In August 2010, Schwarzman compared the Obama administration's plan to raise the tax rate on carried interest to a war and Hitler's invasion of Poland in 1939, stating, "It's a war. It's like when Hitler invaded Poland in 1939." Schwarzman apologized for the analogy. In 2012, Obama called Schwarzman and requested his assistance in brokering a budget agreement with Republicans in congress to avoid a fiscal cliff. A deal was brokered with Schwarzman's help; the new tax plan added $1 trillion of additional revenue by raising taxes, closing loopholes, ending deductions.
Obama drafted a formal message of support for Schwarzman Scholars, an education initiative undertaken by Schwarzman. In early 2016, he said that in a two-candidate race he would prefer Donald Trump to Ted Cruz, saying that the nation needed a "cohesive, healing presidency, not one that's lurching either to the right or to the left." He had made a donation to Marco Rubio in 2014. He endorsed and fundraised for Mitt Romney in 2012. In late 2016, Schwarzman "helped put together" a team of corporate executives to advise Trump on jobs and the economy; the group, which includes JPMorgan Chase CEO Jamie Dimon, Walt Disney boss Bob Iger and former General Electric leader Jack Welch, became Trump's Strategic and Policy Forum. In February, Schwarzman was named as chair of the 16-member President's Strategic and Policy Forum, which brings together "CEOs of America's biggest corporations and investment firms" to consult with the President on "how to create jobs and improve growth for the U. S. economy." On August 16, 2017, following five members' resignations, President Trump announced via Twitter he was disbanding the forum.
According to Forbes, he had a net worth of $12.4 billion as of August 2018. In 2014, Schwarzman was named as one of Bloomberg's 50 Most Influential people of the year. In 2016, Schwarzman was again named as one of Bloomberg's 50 Most Influential people of the year. In 2004, Schwarzman donated a new football stadium to Abington Senior High School—the Stephen A. Schwarzman Stadium. In 2007, Schwarzman was listed among Time's 100 Most Influential People in The World. In early 2008, Schwarzman announced that he contributed $100 million toward the expansion of the New York Public Library, for which he serves as a trustee; the central reference building on 42nd Street and Fifth Avenue was renamed The Stephen A. Schwarzman Building. In 2018, Schwarzman donated 10 million to the Israeli National Library. On April 21, 2013, Schwarzman announced a $100 million personal gift to establish and endow a scholarship program in China, Schwarzman Scholars, modeled after the Rhodes Scholarship program. Schwarzman announced a fundraising campaign with a goal of $200 million.
The Schwarzman Scholars program is housed at Tsinghua University, one of China's most prestigious universities. The first class of 100 students graduated in 2017, upon completion of Schwarzman College, designed by Robert A. M. Stern, Dean of the Yale School of Architecture. In spring 2015, Peter Salovey, the President of
Hayward Field was a historic track and field stadium in the northwest United States, located on the campus of the University of Oregon in Eugene, Oregon. Nearly a century in age, it has been the home of the university's track and field teams since 1921, was the on-campus home of the varsity football team from 1919 through 1966. Hayward Field was named after track coach Bill Hayward, who ran the Ducks' program from 1904 to 1947. Renovated in 2004, it is one of only five International Association of Athletics Federations Class 1 certified tracks in the United States; the elevation of Hayward Field is 420 feet above sea level and its infield has a conventional north-south orientation. The Pacific Ocean is fifty miles to the west, separated by the Coast Range. In 2018, the stadium will be rebuilt on the same site. Expected to reopen in 2020, the new stadium is financed by UO's philanthropic community, with alumnus Phil Knight as the main donor. Hayward was built 101 years ago in 1919 to replace Kincaid Field, was intended to serve the school's football program.
During halftime of the season opener that year, the venue was named for track coach Hayward. In 1921, a six-lane cinder track was constructed around the football field. Renowned architect Ellis F. Lawrence designed the west grandstand, which opened in 1925. A natural grass field was first installed at Hayward Field in 1937; that field surface was not unique in the Northwest in the Pacific Coast Conference: Bell Field in Corvallis, Multnomah Stadium in Portland, Husky Stadium in Seattle made similar transitions to natural grass in this period of time. For most of its existence as a football venue, it was notorious for its poor playing conditions in rainy weather. Despite several improvement efforts, the field didn't drain well after the switch to grass, turned to mud. In 1949, a 28-row grandstand in the south end zone was constructed. With these changes, by the 1960s, the football team had long since outgrown Hayward Field, one of the smallest stadiums in the University Division. Only 9,000 tickets were available to the general public.
While nearly every seat was protected from the elements, it had little else going for it. It was in such poor condition that coaches deliberately steered prospective recruits away from it on their visits to Eugene; as a result, outside of the Civil War game with Oregon State, the Ducks played their higher-attended home games at Portland's Multnomah Stadium, 110 miles away. Athletic director Leo Harris chafed at making the Ducks make the two-hour trip to Portland three times a year, pressed for a new stadium on land just north of campus. School president Arthur Flemming was skeptical of the project, asked Skidmore, Owings & Merrill to evaluate whether it was feasible to build the stadium on the northern site, expand Hayward Field to up to 40,000 seats, or build a new stadium on Hayward Field's footprint; the study definitively ruled out Hayward Field as the site for a renovated football stadium. SOM believed that city officials would never sign off on expanding Hayward Field since it hadn't been built to code, there was no room to build a new stadium on Hayward's footprint.
As a result, Hayward Field's final varsity football game was played in 1966, a one-point loss to Washington State on November 5. Its replacement, Autzen Stadium, opened in September 1967, Hayward Field became a facility for track and field, except for a few freshman team football games; the track was widened to eight lanes late in the summer of 1969 and converted to an all-weather surface that autumn. Its first synthetic track was Pro-Turf, a urethane and sand composite which led to a hard and fast surface. Light in color, it was resurfaced with the same in 1976. Decayed and in disrepair, the original west grandstand was built in 1925 and its roof added in 1938, it was demolished in September 1973, the finish line was moved to the track's northeast corner for the 1974 season. The new west grandstand made of wood with a capacity of 4,300 spectators, was ready for use in March 1975; the Prefontaine Classic originated as the "Hayward Field Restoration Meet" in 1973, to help raise funds for a new west grandstand.
The track was converted to metric in the summer of 1987, its lap length changed from 440 yards to 400 meters, a reduction of 2.336 m. The geometry of the track was changed to the international configuration, with shorter straights and longer turns; this widening of the infield required the relocation of the 300-foot, 500-ton east grandstand, raised and moved 35 ft 9.5 in east in March. The surface was with different surface properties. In addition, a 200 m warmup track was added to the southwest of the main track, along with a new hammer throw area and a weight room facility. A state-of-the-art scoreboard was added in 1991, which gave unofficial times and competitors' placings just seconds after race completion; this project was completed with a great deal of help from the Oregon Track Club as well as the efforts of m