Schwarzman Pledges $48B Fortune to Foundation Focused on AI and Education

A Foundation That Could Rival Gates

Stephen Schwarzman, the 78-year-old co-founder and CEO of Blackstone, announced plans to direct a "substantial majority" of his $47.8 billion fortune to his eponymous foundation. If the pledge approaches the 99% threshold suggested by the Giving Pledge — which Schwarzman signed — the resulting endowment could exceed $47 billion, placing it among the world's largest alongside the Gates Foundation ($83.3 billion) and the Wellcome Trust ($47 billion).

The foundation's stated mission centers on artificial intelligence, education, and what Schwarzman calls "responsible technological progress." That makes this far more than a legacy project. It positions the Schwarzman Foundation as potentially the largest private funder of AI-related research and education in the world.

Where the Money Will Flow

Schwarzman's track record offers clues. He has given more than $1 billion to date, overwhelmingly to education. His $350 million commitment to MIT in 2018 created the Schwarzman College of Computing, one of the premier AI research hubs in the country. A $188 million gift to Oxford in 2019 funded a humanities center exploring the ethical dimensions of technology.

With AI as the explicit centerpiece of his foundation's future, universities, research institutes, and nonprofits working on AI safety, AI education, and AI workforce development should take note. A foundation of this scale typically takes years to reach full operational capacity, but its grant programs — once active — could reshape how AI research is funded outside government channels.

Why Grant Seekers Should Pay Attention Now

The practical impact won't be immediate. Schwarzman is alive and actively running Blackstone. But the pledge signals a massive expansion of private AI funding that will eventually flow through grant programs, fellowships, and institutional partnerships. Organizations building track records in AI education, responsible AI development, or applied AI research are positioning themselves for what could become one of the largest philanthropic funding streams in the field.

For nonprofits and researchers already navigating the AI funding landscape — from NSF's AI Research Institutes to DOE's Genesis Mission — the Schwarzman pledge adds a major new private dimension to the picture. The Granted blog covers both public and private AI funding developments as they emerge.