Behind every billionaire there is a story!

Schwarzman sponsors poor students in Bronx

this is truly beautiful and smart way to help people,  way to go Steve!

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It isn’t often that Stephen A. Schwarzman admits to being less than the best. As the chairman and chief executive of the Blackstone Group, Mr. Schwarzman has constructed his career on his competitive streak, building his firm into one of the pre-eminent investment companies on Wall Street.

Yet on Monday afternoon, he spoke of the less-than-stellar marks he used to get in grammar school.

“I used to do homework and got a 90, but not much above that,” he told Victor Anoiske, a quiet, reed-thin fourth grader at the Sacred Heart School in the Bronx. “But I couldn’t get 96’s like you did.” Among its programs is Be a Student’s Friend, in which sponsors pay between $2,200 and $2,700 a year for a student’s education.

Though the Schwarzmans have sponsored students through the fund since 2003 — and Mrs. Schwarzman is a member of the nonprofit’s board — theirs was the largest donation to the fund in its history.

The cash grant will initially fund scholarships for 100 students, said Susan George, the fund’s director

read the rest published by NY Times here:

http://dealbook.blogs.nytimes.com/2008/02/29/schwarzmans-school-ties/