ArchiveFM

David Rubenstein, a product of the old bipartisan D.C., made his fortune in private equity. He’s been spending it on “patriotic philanthropy” and institutions like the Kennedy Center, where Trump fired him as chairman. Now he wonders if the center can hold.
Duration
50m
Broadcast on
16 Oct 2026
Audio Format
other

David Rubenstein, a product of the old bipartisan D.C., made his fortune in private equity. He’s been spending it on “patriotic philanthropy” and institutions like the Kennedy Center, where Trump fired him as chairman. Now he wonders if the center can hold.

 

  • SOURCES:
    • David Rubenstein, co-founder and co-chairman of the Carlyle Group, principal owner of the Baltimore Orioles.

 

 


Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Preeconomic radio is sponsored by Everpure. Is the value of AI not living up to the promise? The problem is probably your data, not your AI models. When it's scattered across different systems, getting your data AI ready is a challenge. You keep your AI waiting and everything slows down. Everpure unifies your data so you can see it, understand it and control it all from one simple place and get it AI-ready fast. Unlock the true value of your AI at EverpureData.com. Preeconomic radio is sponsored by Hotels.com. Hotels.com helps you find and book the right stay for work faster. With business preferences, save your travel must-haves like gym access or breakfast. Just once, then get tailored results whenever you search for work travel. Plus, with a free membership, you can save up to 20% on Hotels and earn rewards on every stay for future travel. Click now at Hotels.com, visit Hotels.com for details. Freakingomics Radio is sponsored by U.S. Bank smartly checking and savings. You know, U.S. Bank smartly checking and savings are bank accounts that work harder for you. You get better savings rates, fee waivers and rewards from day one, so you spend less time worrying about money and more on what matters. Sign up for U.S. Bank smartly checking and savings today at usbank.com/smartly. Remember FDIC copyright 2026 U.S. Bank. For half a century, David Rubenstein has been part of the Washington establishment. He started out as a lawyer on Capitol Hill when he worked on domestic policy in the Carter White House, but what made him famous and very rich was the Carlisle Group, a private equity firm he co-founded in 1987, and where he is still co-chairman. Carlisle did not invent the Washington revolving door between government service and high-end finance, but it certainly capitalized on it, and Rubenstein thrived and came to epitomize a Washington that was relatively moderate and bipartisan. He spent many millions of dollars on what he calls patriotic philanthropy, helping restore the Lincoln Memorial in Washington Monument, for instance. He's bought rare copies of America's founding documents to put on public display, and he's given millions more to a vast array of educational, cultural and civic causes, like the Kennedy Center for the Performing Arts, where he was chairman for more than a decade until recently when that came to an abrupt end. "I'm the only person ever to be fired by a president and succeeded by him at the same time." And even that doesn't seem to have shaken Rubenstein's faith in the American experiment. Today on Freakonomics Radio, is this what a good billionaire looks like? This is Freakonomics Radio, the podcast that explores the hidden side of everything, with your host, Stephen Dubner. "I like to think of myself as a fairly industrious person. I've written books. I make this show every week, and sometimes other shows. I run a little production company. I have a family, friends, stuff like that. But when I look at how David Rubenstein spends his time, I feel like a world-class slacker. Here is a partial list of the institutions where he serves as board chair, trustee or director, the Council on Foreign Relations, the National Gallery of Art, the Economic Club of Washington, the University of Chicago, Johns Hopkins Medicine, Memorial Sloan Kettering Cancer Center, the Institute for Advanced Study, the Brookings Institution, the World

Transcription truncated.

David Rubenstein, a product of the old bipartisan D.C., made his fortune in private equity. He’s been spending it on “patriotic philanthropy” and institutions like the Kennedy Center, where Trump fired him as chairman. Now he wonders if the center can hold.