Rubenstein exemplifies University ideals

We applaud the Board of Trustees for electing David Rubenstein, Trinity ’70, as chairman of the Board of Trustees this weekend.

Having served eight years on the Board and two years as vice-chair, Rubenstein has accumulated enough experience to understand how the Board works in conjunction with the University. Additionally, Rubenstein has been actively engaged with Duke outside of the Board, suggesting a true dedication to the well-being of the University.

Rubenstein is an exceptional example of the potential power of a Duke education. Coming from humble roots—neither of his parents graduated from high school or college—Rubenstein attended Duke because of the generous financial aid package he was offered. The success he had post-graduation as co-founder and co-CEO of private equity firm the Carlyle Group is an inspiration to all current and aspiring students of what Duke can help them achieve regardless of their background.

Rubenstein exemplifies knowledge in the service of society in that he uses the success he received from his Duke education to give back to both the University and society.

To date, Rubenstein has given over $50 million to the University. This year Rubenstein gave $10 million to the Sanford School of Public Policy; in 2012, he committed $10 million to Duke’s athletic departments; and in 2011, he made a gift of $13.6 million to support renovations to the David M. Rubenstein Rare Book and Manuscript Library. Rubenstein’s commitment to funding different areas of the University demonstrates an understanding of the different facets of Duke life.

Rubenstein’s philanthropic commitment has also served the public. Having signed The Giving Pledge, Rubenstein has committed himself to donating half of his wealth to philanthropic causes. He donated $13.5 million to the National Archives for a new gallery and visitors center in 2011. The museum features the Magna Carta, which Rubenstein acquired for $21.3 million and has since loaned to the National Archives. Following an earthquake in Virginia, Rubenstein donated $7.5 million to repairs of the Washington Monument.

Succeeding Richard Wagoner, who was asked to step down as chair and CEO of General Motors as part of the company’s restructuring program in 2009, Rubenstein will serve as an appropriate figurehead of the University. In exemplifying Duke’s commitment to knowledge in the service of society, Rubenstein will do well as a spokesperson of the Board and as someone who represents the values of a Duke education.

In conjunction with his involvements with the University, his experience outside of Duke-related activities demonstrate how Rubenstein lives out the beliefs of the University. He demonstrates an understanding of what innovation means through his role as co-founder and co-CEO of the Carlyle Group, currently one of the world’s largest private equity firms. Before entering into finance, he worked as a lawyer and served as a deputy assistant to President Jimmy Carter for domestic policy. Rubenstein has a background in finance, law and politics, bringing a full array of experiences to the Board that will allow him to be an educated leader of internal discussions. Having already served as a public figure, Rubenstein will do well as the external spokesperson for the Board.

We look forward to seeing what the Board will do under Rubenstein’s leadership.