606: David Rubenstein | Patriotic Philanthropy and Leading Large

Fundraising

David M. Rubenstein shares essential insights into effective fundraising, emphasizing the importance of credibility and preparation. He advises having clear, concise materials and being upfront about potential risks to build trust with investors. Rubenstein believes that honesty about challenges can earn respect and improve fundraising outcomes.

You should be honest about it because people reflect, I think, in respect, people who are more honest when you're trying to raise money.

--- David M. Rubenstein

He also highlights the undervalued nature of sales skills, noting that while many start in sales, few are formally trained in it, making it a rare and valuable asset 1 2.

   

Philanthropy

Rubenstein explains his decision to abstain from political donations, citing the potential for perceived bias and influence. He believes that donating to politicians could compromise his ability to work effectively in bipartisan roles on various cultural and educational boards. Rubenstein prefers to focus on philanthropy, particularly in education and medical research, where he can see the direct impact of his contributions.

I intend to give it all away before I die. And I think I'd rather see it be given away and see what's been done with it while I'm alive.

--- David M. Rubenstein

His approach to philanthropy is hands-on, choosing to personally direct his charitable efforts rather than through intermediaries 3 4.