David Rubenstein didn’t grow up with money. He was raised by a postal worker father and a homemaker mother in a working-class Baltimore neighborhood. From the start, he understood the value of hard work and education. He got into Duke University, then law school, and went on to serve in the White House under President Jimmy Carter.
But after Carter lost the 1980 election, Rubenstein found himself out of a job.
Instead of going back to being a lawyer, he took a risk. In 1987, he co-founded The Carlyle Group with just $5 million and a few partners. At the time, private equity was still a small, unknown world. Rubenstein wasn’t a finance expert, but he learned fast. He worked behind the scenes, building relationships, negotiating deals, and slowly growing Carlyle into one of the most powerful investment firms in the world.
Today, Carlyle manages over $300 billion. Rubenstein is also known for interviewing global leaders and giving back through philanthropy and education. But at his core, he’s still the same person who believed in effort over privilege and took a chance when most would’ve played it safe.
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Media: OxfordUnion
