Hedge Fund Manager Paulson Donates $100 Million to Central Park Conservancy

October 23, 2012 James Heinsman Hedge Fund News

John Paulson

President and co-fund manager of the New York-based hedge fund firm Paulson & Company, John Paulson, pledged on Tuesday a $100 million donation to the Central Park Conservancy, the largest donation to a public park in the history of New York City.

The Central Park Conservancy was founded in 1980 by a group of philanthropists and concerned citizens who were compelled to protect Central Park as the main green area and center for cultural activities in New York after its startling decline during the 1970s. Today the Conservancy manages and maintains the park under lease from the City of New York.

“It’s simply impossible to imagine what New York would be without Central Park,” stated Paulson, whose Paulson Family Foundation pledged the gift, at a news conference held at the Bethesda Fountain in the park.

Paulson grew up in Queens, New York, and is ranked number 61 on the Forbes list of the world’s most wealthy individuals in 2012. It is estimated that Paulson’s net worth amounts to $12.5 billion.

Doug Blonsky, CEO of the Conservancy commented on Paulson’s generous gift at the news conference.

“John is a man who knows a good investment when he sees one. Central Park is fundamental to the economic and cultural health of New York City and the quality of life of its residents,” Blonsky said.
 

Central Park Conservancy, Doug Blonsky, John Paulson, Paulson & Company,

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