| BEIJING, April 21
BEIJING, April 21 Blackstone Group Inc.
founder Stephen Schwarzman will personally donate $100 million
to a scholarship fund at China's Tsinghua University as part of
the largest internationally funded philanthropic project in the
Schwarzman has already raised another $100 million from a
group of mostly Western donors including BP Plc, Boeing
Co., General Electric Co. and hedge fund magnate
He's working to raise a further $100 million to fill out the
programme's planned $300 million endowment.
"The goal is to build the most prestigious and well-funded
international scholarship programme in the most populous country
in the world," Schwarzman said.
Classes of 200 students recruited from the United States,
China and other countries will study a specially designed
curriculum in a one-year master's programme.
Schwarzman unveiled the project, along with a scale model of
a Qing Dynasty-style building to be built for students on the
east side of Tsinghua's campus, in a ceremony on Sunday.
It was held in Beijing's Great Hall of the People, where the
Chinese government typically holds legislative sessions, and
representatives read personal statements from U.S. President
Barack Obama and Chinese President Xi Jinping.
Tsinghua University has trained many of China's top
technocrats including Xi, who graduated with a degree in
The planned amenities, which include a sunken garden, pub
and fitness area, are a far cry from facilities at most Chinese
universities, where students sleep six or eight to a room and
eat in austere canteens where many meals cost less than a
Schwarzman said Tsinghua approached him with the idea for
the project and spent years cajoling him. He called Tsinghua
University's President Chen Jining "very persistent and very
In an interview with Reuters, Schwarzman said he recognised
the possibility of restricted academic discourse because of
"There ought to be a robust dialogue expected to occur," he
said. "To the extent that there's not, that would be an
instructive part of a student's education in China."
He said students would be held to Western academic standards
and that all classes would be conducted in English.