Billionaire Hedge Fund Manager Donates $100m for Central Park

Bloomberg reports that Paulson, 56, is founder of Paulson & Co., a New York-based hedge fund that manages $21bn across 10 funds. Paulson. His contribution will help renovate and maintain park facilities and pay for recreation programs, said Doug Blonsky, president of the conservancy, which is responsible for its maintenance and operations. Half will bolster the park’s endowment, which now stands at $144m, Blonsky said.

'This past weekend in Central Park I saw babies in carriages, children playing, couples holding hands, dogs running, musicians playing, people jogging, cycling and people from all over the world talking, laughing and exercising', Paulson said while announcing his gift Tuesday at the park’s Bethesda Fountain. 'I thought to myself, ‘Central Park is a paradise unlike anywhere else in the world''.

The park’s 843 acres stretch from 59th Street to 110th Street in Manhattan and make up a leafy oasis on an island of concrete. Conservancy crews care for 250 acres of lawns, 24,000 trees, 150 acres of lakes and streams and 130 acres of woodlands, according to its website.

Hit the link below to access the complete Bloomberg article:

Billionaire Paulson Donates $100 Million for Central Park