Yesterday’s Washington Post column by Robert McCartney highlighted the charitable contributions of William E. Conway, Jr. Bill Conway is Co-chief Executive Officer and Co-Founder of the DC private equity firm, the Carlyle Group.
We hear quite a bit about Conway’s partner, David Rubenstein, who is currently on the cover of Forbes. Rubenstein’s charity is more high profile, like pledging to repair the Washington Monument. But Conway is low-key in his giving, and perhaps more thoughtful about which organizations he supports. This round of donations is $55 million, and Conway says he will eventually give away $1 billion; this makes him at the moment the most financially generous resident of the town that I live in, McLean, Virginia.
According to Forbes, Bill Conway is the 250th richest person in America with a net worth of $1.9 billion. Robert McCartney reports that Conway is “studying how to use his wealth to provide long-term solutions for the poor.” This first round of donations is targeted to job training programs. I wonder if Conway is investigating how well these non-profits are managed? My guess is that the answer is yes.
I spoke with Conway briefly at Starbucks earlier this year. He is one of the more high-profile residents of McLean. After our conversation I was wondering what someone does with that much money? Now we know, and the answer is a good one.