Art News

David Rubenstein Gives $5M to Library of Congress

By: Brett Zongker, Associated Press Writer
WASHINGTON, DC (AP).- When David Rubenstein was a boy growing up in a blue-collar Baltimore neighborhood, he was keenly drawn to its downtown library. Now the billionaire investor has pledged $5 million to bolster the National Book Festival, hoping to encourage a love of reading in others. Rubenstein, whose parents never attended college, recalled Thursday how he checked out the maximum number of books permitted each week, taking home 12 at a time. “Eventually, I think I read most of the books in that library,” he said. “The love of reading really helped me get where I am today.” Rubenstein, a co-founder and managing director of the Carlyle Group private equity firm, announced his gift Thursday to the Library of Congress to ensure the National Book Festival continues on the National Mall for years to come. Rubenstein will give $1 million a year for five years to expand the festival into a full program promoting books and reading. The g