Wednesday, June 19, 2019

Blackstone chief pledges $188m to Oxford University & it's the biggest single donation in university's history

The head of private equity firm Blackstone has pledged 150 million pounds ($188.37 million) to Oxford University, the biggest single donation in its history, to fund a center for humanities that would also house an institute to study the ethics of artificial intelligence.

Stephen Schwarzman, chairman, chief executive and co-founder of Blackstone which has about $500 billion in assets, said the donation would fund the Schwarzman Centre that would support programs ranging from history to music.

The center will also house a new Institute for Ethics in Artificial Intelligence (AI).

“For nearly 1,000 years, the study of the humanities at Oxford has been core to Western civilization and scholarship. We need to ensure that its insights and principles can be adapted to today’s dynamic world,” Schwarzman said in a statement.

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