Schwarzman scholars for Tsinghua
Print Edition
Wall Street tycoon Stephen A. Schwarzman helped break ground on a college building in Beijing that will house a US$300 million scholarship program bearing his name that is intended to rival the prestigious Rhodes Scholarships.
Accompanied by Chinese government and university officials, the founder of the private equity firm Blackstone turned a shovel at a ceremonial event on the campus of Tsinghua University yesterday. The first class of Schwarzman Scholars will be there in 2016.
Schwarzman said he’s setting up the program to train a new generation of global leaders with better understanding of China as the world’s geopolitics shift to the rising power.
“China is going to be, what I call it, a core curriculum for any educated person, any person who wants to be the global leader of their field,” he said.
China has welcomed the endowed program, which is the largest philanthropic gift with foreign money in China’s history. The government hopes it will boost Tsinghua’s standing among the world’s higher learning institutions.
The US$300 million endowment will allow 200 students each year to take part in a one-year master’s program at Tsinghua - all expenses paid Ñ in public policy, economics and business, international relations or engineering.
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