When news started to leak out in December that the Baltimore Orioles would potentially be sold to private equity billionaire David Rubenstein, the first reactions from Baltimore fans were overwhelmingly positive. The same could be said for when it became official last week, including from a statement released by Rubenstein himself. Led by the Carlyle Group co-founder, this new investment group that will helm the franchise includes heavy hitters like Mike Arougheti, Michael Bloomberg, Kurt Schmoke, and Cal Ripken Jr. With the Baltimore native Rubenstein standing above them all as the eventual "control person" of the club, we decided to take a look at his background growing up in the area we call home, his early career in law and politics, and his eventual foray into leveraged buyouts and private equity that got him to the point of being able to buy a professional sports team. This deep dive borrows from pieces throughout his life that provide color on the man who founded one of the nation's leading PE firms, became a steward of history through purchases of famous documents such as the Magna Carta, and much more.

Sources:

The New York Times: "Billionaire Confessional: David Rubenstein on Wealth and Privilege" // (https://www.nytimes.com/2020/03/12/business/david-rubenstein-carlyle-corner-office.html)

The Washington Post: "David Rubenstein, co-founder of Carlyle Group and Washington Philanthropist" // (https://www.washingtonpost.com/lifestyle/style/david-rubenstein-co-founder-of-carlyle-group-and-washington-philanthropist/2012/05/14/gIQA7XcvPU_story.html)

Investopedia: "How David Rubenstein Became a Billionaire" // (https://www.investopedia.com/articles/investing/092215/how-david-rubenstein-became-billionaire.asp)

Host: Jake Louque

Producer: Jake Louque

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