Blackstone CEO Commits $48 Billion Fortune to AI Philanthropy

Stephen Schwarzman plans to build one of the world's largest philanthropic foundations focused on artificial intelligence and education.

Published on Feb. 16, 2026

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Stephen Schwarzman, the billionaire co-founder and CEO of private equity firm Blackstone, is planning to commit the majority of his $47.8 billion fortune to a philanthropic foundation focused on AI and education. The foundation recently hired an executive director to oversee Schwarzman's vision for its anticipated growth, which could make it one of the largest philanthropies in the world, rivaling the Gates Foundation and Wellcome Foundation.

Why it matters

Schwarzman's decision to dedicate his wealth to AI and education philanthropy reflects growing concerns about the societal impacts of emerging technologies. As AI systems become more advanced, there are increasing calls to ensure these technologies are developed and deployed responsibly to benefit humanity. Schwarzman's foundation could play a major role in shaping the future of AI through research, education, and policy initiatives.

The details

Schwarzman, 78, plans to transfer a "substantial majority" of his $47.8 billion net worth to his foundation upon his death. This would make it one of the largest philanthropic organizations in the world, potentially surpassing the $83.3 billion Gates Foundation and the $47 billion Wellcome Foundation. Schwarzman says he was inspired to focus on AI and education after recognizing the profound implications these technologies will have on the workforce and global competitiveness. The foundation recently hired an executive director to oversee Schwarzman's vision for its growth.

  • Schwarzman co-founded Blackstone in 1985 with $400,000.
  • Blackstone now has over $1.3 trillion in assets under management.
  • Schwarzman made a $350 million donation to MIT in 2018 to launch the Schwarzman College of Computing.

The players

Stephen Schwarzman

The co-founder and CEO of private equity firm Blackstone, with a current net worth of $47.8 billion.

Blackstone

One of the world's largest private equity firms, with over $1.3 trillion in assets under management.

MIT

The Massachusetts Institute of Technology, which received a $350 million donation from Schwarzman in 2018 to launch the Schwarzman College of Computing.

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What they’re saying

“I was struck when I learned of the implications that advances in artificial intelligence and other new computing technologies will have on human development, the workforce and global competitiveness. I saw an urgent need to ensure our society is prepared for the changes to come, which is why I have funded two large-scale programs related to AI.”

— Stephen Schwarzman (Giving Pledge letter)

What’s next

The details and timeline for Schwarzman's foundation expansion and the specific initiatives it will fund have not yet been publicly announced.

The takeaway

Schwarzman's decision to dedicate the majority of his vast wealth to a philanthropic foundation focused on AI and education reflects the growing recognition that these emerging technologies will have profound societal impacts. His foundation could play a pivotal role in shaping the responsible development and deployment of AI to benefit humanity.