An Abington High School graduate-turned-private equity magnate - a man wealthy enough to hire Rod Stewart and Patti LaBelle to play at his birthday party - will spend $3 million to launch an entrepreneurship program in the Philadelphia area.
Technically, the money comes from the Blackstone Charitable Foundation, the nonprofit arm of the Blackstone Group, a publicly traded $3.2 billion private equity fund led by Stephen A. Schwarzman, whose name graces the high school stadium.
But the push behind the Blackstone LaunchPad comes from Schwarzman, co-founder of the New York company.
To read the full, original article click on this link: Blackstone Charitable Foundation will spend $3 million on Philadelphia-area entrepreneurship effort
