Baltimore native David M. Rubenstein, co-founder and co-chairman of the private equity fund The Carlyle Group and principal owner of the Orioles, was recently among the 19 recipients of the Presidential Medal of Freedom.
President Biden honored the recipients at a ceremony last Saturday, Jan. 4, at the White House. Rubenstein is the first Jewish Baltimorean to receive the honor.
The Presidential Medal of Freedom is the nation’s highest civilian honor. The medal is presented to individuals who have made exemplary contributions to the prosperity, values and/or security of the United States, world peace or other significant societal, public or private endeavors.
In the medal’s citation, Rubenstein was hailed as “a transformational business leader and philanthropist. … His leadership reminds us that, at our best, we learn from, preserve and share our history so that everyone sees themselves in the story of America.”
Rubenstein, 75, is a multi-billionaire lawyer, businessman and philanthropist born and raised in Pikesville. The son of a postal office file clerk and a homemaker who occasionally worked in a dress shop, he attended Baltimore City College and studied at Duke University before earning a law degree at the University of Chicago.
From 1977 to 1981, Rubenstein served as deputy assistant for domestic policy to President Jimmy Carter. In 1987, he co-founded The Carlyle Group, which became one of the world’s largest private equity firms.
A Bethesda resident, Rubenstein is the board chairman of the Kennedy Center for the Performing Arts. He has also served as chair of the National Gallery of Art, the Council on Foreign Relations and The Economic Club of Washington D.C.
He has been widely praised for his philanthropy and support for the restoration of historic landmarks and cultural institutions, including the Washington Monument, Monticello, Mount Vernon, Arlington House, the Kennedy Center, the Smithsonian, the National Zoo, the Library of Congress, and the National Museum of African American History and Culture.
According to Forbes, he has an estimated net worth of $3.7 billion, as of mid-2024.
Rubenstein was honored at the 2018 Charles Baum Symposium at Pikesville’s Suburban Club presented by The Associated: Jewish Federation of Baltimore.
Other recipients of the Presidential Medal of Freedom included culinary innovator and World Central Kitchen founder José Andrés; singer and activist Bono of the rock band U2; former Secretary of State Hillary Rodham Clinton; actor and activist Michael J. Fox; world-renowned ethologist and conservationist Dr. Jane Goodall; the late civil rights activist Fannie Lou Hamer; basketball legend Earvin “Magic” Johnson; fashion designer Ralph Lauren; soccer star Lionel Messi; billionaire investor and philanthropist George Soros; actor, producer and director Denzel Washington; and media executive and fashion industry icon Anna Wintour.
In a statement, the Kennedy Center posted, “President Kennedy famously said in his inaugural address, ‘Ask not what your country can do for you — ask what you can do for your country.’ David Rubenstein embodies this spirit in his leadership at the Kennedy Center and many other institutions across the country through his belief in the promise of America and commitment to celebrating, learning from, and protecting our history. Thank you, David, for your leadership of our national cultural center.”
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