David Rubenstein

David Rubenstein
Born	David Mark Rubenstein 11 8, 1949
Birthplace	Baltimore, Maryland, U.S.
Nationality	American
Occupation	Businessman, lawyer, philanthropist
Known for	Co-founder and co-chairman of The Carlyle Group; principal owner of the Baltimore Orioles
Education	University of Chicago (JD)
Children	3
Awards	Presidential Medal of Freedom (2025)
Website	[www.davidrubenstein.com Official site]

David Mark Rubenstein (born August 11, 1949) is an American lawyer, businessman, and philanthropist who co-founded The Carlyle Group, one of the world's largest private equity firms, headquartered in Washington, D.C. Over the course of more than three decades, Rubenstein built Carlyle from a small investment advisory firm into a global financial institution managing hundreds of billions of dollars in assets. Beyond finance, he has become one of the most prominent philanthropic figures in the United States, directing substantial personal wealth toward the preservation of American historical documents and landmarks, the support of cultural institutions, and the advancement of higher education. In 2024, Rubenstein became the principal owner of the Baltimore Orioles of Major League Baseball, acquiring the team for $1.7 billion — a return to his hometown of Baltimore, where he was raised in a working-class Jewish family. He serves as chairman of the Council on Foreign Relations, the National Gallery of Art, and the Economic Club of Washington, D.C., and has held board leadership positions at Duke University, the Smithsonian Institution, the Brookings Institution, and the University of Chicago. In 2025, he was awarded the Presidential Medal of Freedom.

Early Life

David Mark Rubenstein was born on August 11, 1949, in Baltimore, Maryland. He grew up in a Jewish family in Baltimore, in modest economic circumstances. His upbringing in the city would later inform his philanthropic interests and, decades later, his decision to purchase the Baltimore Orioles baseball franchise.

Rubenstein's early life in Baltimore instilled in him a strong work ethic and an interest in public affairs. He would go on to pursue higher education with distinction, eventually entering the fields of law and government service before transitioning to the private sector.

Education

Rubenstein attended Duke University in Durham, North Carolina, where he earned a Bachelor of Arts degree. He subsequently enrolled at the University of Chicago Law School, where he received his Juris Doctor (JD) degree. Both institutions would later become major beneficiaries of his philanthropy. At the University of Chicago, Rubenstein was elected chair of the board of trustees in 2022.

Career

Early Career and Government Service

After completing his legal education, Rubenstein practiced law in New York City before entering government service. He served as a domestic policy adviser in the administration of President Jimmy Carter, working in the White House during the late 1970s. His experience in Washington, D.C., and the network of political and policy contacts he developed during this period, proved instrumental in the founding and growth of The Carlyle Group.

The Carlyle Group

In 1987, Rubenstein co-founded The Carlyle Group in Washington, D.C., alongside William E. Conway Jr. and Daniel A. D'Aniello. The firm was established as a private equity and investment advisory company. Under the leadership of its three co-founders, Carlyle grew from a modest Washington-based operation into one of the largest and most influential private equity firms in the world, with investments spanning defense, aerospace, energy, telecommunications, healthcare, and financial services across multiple continents.

Rubenstein served as a managing director and later as co-chairman of the firm. Carlyle's location in Washington, rather than in the traditional financial centers of New York or Boston, was considered distinctive in the private equity industry. The firm's proximity to the federal government and its deep connections to policymakers became a defining characteristic. Carlyle attracted former senior government officials and heads of state to its advisory boards and executive ranks over the years.

As co-chairman, Rubenstein became one of the most recognizable figures in the private equity industry, frequently speaking at financial conferences, conducting public interviews with business leaders, and authoring books on American history and leadership. He has remained affiliated with Carlyle as co-chairman even as the firm transitioned to new operational leadership over the years.

Ownership of the Baltimore Orioles

In 2024, Rubenstein became the principal owner of the Baltimore Orioles, a Major League Baseball franchise, acquiring the team for approximately $1.7 billion. The purchase represented a homecoming of sorts for Rubenstein, who was born and raised in Baltimore. His ownership of the team brought him increased public attention beyond the financial sector.

In February 2026, Rubenstein's name appeared in documents released by the United States Department of Justice related to Jeffrey Epstein. According to the files, Rubenstein met with the convicted sex offender Jeffrey Epstein in 2012.

Media and Public Speaking

In addition to his investment career, Rubenstein has become well known as a media personality and interviewer of prominent figures. He is the host of television interview programs and has conducted conversations with heads of state, business leaders, and cultural figures. He has authored several books on American history and leadership.

In April 2026, Rubenstein was scheduled to participate in public speaking engagements focused on American democracy and history. He was announced as a speaker at Monticello, the historic home of Thomas Jefferson, on April 11, 2026, alongside former Secretary of Defense James Mattis. He was also scheduled to appear in a public conversation with journalist Andrea Mitchell in Annapolis, Maryland, on April 12, 2026, marking the 250th anniversary of the Declaration of Independence.

Philanthropy

Rubenstein has been one of the most active philanthropists in the United States, with giving focused on education, cultural preservation, historical conservation, and civic institutions. He has described his approach to philanthropy as "patriotic philanthropy," emphasizing the preservation of American historical documents, monuments, and institutions.

Historical Preservation

In 2007, Rubenstein purchased a surviving original copy of the Magna Carta at auction and subsequently lent it to the National Archives in Washington, D.C., for permanent public display. The gesture was characteristic of his broader efforts to make foundational documents of democracy accessible to the American public.

Rubenstein also contributed funds toward the repair of the Washington Monument and has supported the restoration and maintenance of other national landmarks and memorials in the Washington, D.C. area.

Duke University

Rubenstein has been among the most generous donors in the history of Duke University, his undergraduate alma mater. In 2011, Duke announced a major gift from Rubenstein to support the university's rare book, manuscript, and special collections library, which was subsequently named the David M. Rubenstein Rare Book & Manuscript Library.

In 2012, Rubenstein made an additional significant donation to Duke, further supporting university programs. That same year, he donated $10 million to Duke athletics.

Earlier, in 2009, Rubenstein donated $57.5 million to establish a public policy school at Duke, which was subsequently named the Sanford School of Public Policy. In 2013, he donated an additional $10 million to the Sanford School.

Rubenstein served as chairman of Duke University's board of trustees.

National Zoo and Smithsonian Institution

Rubenstein made a significant gift to the Smithsonian National Zoological Park in Washington, D.C., to support its giant panda conservation and habitat programs. The zoo's giant panda habitat was named in his honor as the David M. Rubenstein Family Giant Panda Habitat.

He also served as chairman of the board of regents of the Smithsonian Institution, overseeing one of the world's largest museum and research complexes.

Brookings Institution

Rubenstein served as co-chair of the board of trustees of the Brookings Institution, one of Washington's oldest and most prominent think tanks. His support of Brookings reflected his longstanding interest in public policy research and nonpartisan governance.

Other Institutional Support

Rubenstein has served on the boards of numerous other institutions. He has been a trustee of the Institute for Advanced Study in Princeton, New Jersey. He served on the board of trustees of Johns Hopkins University. He has been involved with Lincoln Center for the Performing Arts as a board member. He served as chairman of the board of trustees of the John F. Kennedy Center for the Performing Arts from 2010 until 2025.

In 2013, the Kansas City architectural firm BNIM was announced as contributing to the design of a building project associated with Rubenstein's philanthropic activities.

Institutional Leadership

Rubenstein has held a number of prominent positions in American civic, cultural, and policy institutions, often serving simultaneously on multiple boards.

Council on Foreign Relations

Rubenstein became chairman of the Council on Foreign Relations (CFR) on July 1, 2017, succeeding co-chairs Carla Hills and Robert Rubin. The CFR is an independent, nonpartisan membership organization and think tank specializing in U.S. foreign policy and international affairs. As chairman, Rubenstein oversees the organization's governance and strategic direction.

National Gallery of Art

Rubenstein serves as chairman of the National Gallery of Art in Washington, D.C., one of the preeminent art museums in the world. His leadership of the institution reflects his broader commitment to the cultural life of the nation's capital.

Economic Club of Washington, D.C.

Rubenstein has served as president of the Economic Club of Washington, D.C., a forum for prominent business, government, and diplomatic leaders. In this role, he has conducted many of his well-known interviews with leading public figures.

Kennedy Center for the Performing Arts

Rubenstein served as chairman of the John F. Kennedy Center for the Performing Arts from 2010 until 2025, when he was replaced by President Donald Trump.

University of Chicago

In 2022, Rubenstein became chair of the board of trustees of the University of Chicago, his law school alma mater. He had previously served as a trustee of the university.

Personal Life

Rubenstein has three children. He resides in the Washington, D.C. area, where he has been based for much of his professional career. He has been a member of the Washington, D.C. Jewish community, and his Jewish heritage has been noted in profiles of his life and career.

Recognition

In 2025, Rubenstein was awarded the Presidential Medal of Freedom, the highest civilian honor in the United States. The award recognized his contributions to business, philanthropy, and public service.

Throughout his career, Rubenstein has received numerous other honors and recognition from educational, cultural, and civic institutions. His name is associated with buildings, programs, and endowments at Duke University, the Smithsonian Institution, and other major American institutions, reflecting the scale and breadth of his philanthropic activities.

In February 2026, Rubenstein was invited to deliver the 24th annual Blavatt Lecture at Gettysburg College's Eisenhower Institute, where he spoke to students about leadership, philanthropy, and civic engagement.

Legacy

David Rubenstein's career spans the intersections of law, government, finance, and philanthropy. As co-founder of The Carlyle Group, he helped build one of the defining institutions of the modern private equity industry, with a firm that became notable for its Washington, D.C. base and its connections to government and policy circles. His transition from a White House policy adviser to a co-founder of a major investment firm reflected a career trajectory that blended public service with private enterprise.

His philanthropic activities, particularly his concept of "patriotic philanthropy," have left a tangible mark on American cultural and educational institutions. The preservation of the Magna Carta, the restoration of the Washington Monument, donations to Duke University totaling well over $100 million, and the support of institutions such as the Smithsonian, the National Gallery of Art, and the Kennedy Center represent a body of giving focused on the preservation and strengthening of American civic life.

His acquisition of the Baltimore Orioles in 2024 connected his career to the city of his birth, and his continued involvement in public discourse — through interviews, books, and speaking engagements — has maintained his visibility as a figure at the intersection of American business, culture, and public affairs.