Billionaire gives $100 million to Central Park
NEW YORK (AP) - October 23, 2012 (WPVI) -- A billionaire hedge fund manager has pledged $100 million to the private organization that maintains Central Park in partnership with New York City.
John A. Paulson's gift to the Central Park Conservancy is believed to be the largest gift ever to a public park. It was announced Tuesday.
Paulson says Central Park is the most democratic of all New York's great cultural institutions. He says his donation will benefit all New Yorkers.
Mayor Michael Bloomberg said Paulson's gift will ensure that the park remains a peaceful oasis.
The 56-year-old Paulson is the founder and president of Paulson & Co. He is a native of Queens and a graduate of the Harvard Business School.
The pledge will be paid out by Paulson and his Paulson Family Foundation.
new york city, new york, national/world
- Multi-alarm fire at NJ apartment complex 30 min ago
- Lots of sun, chilly today
- Get the 6abc StormTracker app
- WATCH: Action News Online
- Photos: Pictures of damage from Tuesday's storm
- High winds bring damage to Abington Twp.
- Violent Chester police confrontation caught on video
- Driver loses control, hits parked SUV in South Philly
- 292 missing, 4 dead in South Korea ferry disaster
- Man charged with hoax near marathon finish line
- Bucks Co. runner set to return to Boston Marathon
- Police: Pa. man tries to snatch baby from stroller
- Chaka Fattah Jr. files $10 million federal lawsuit
- Free coffee as Wawa celebrates 50th
- Police: Pedestrian struck and killed in...
50 min ago
More 6abc.com resources
Most Viewed StoriesMost Viewed Photos