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Billionaire Drops $100M Donation On Central Park

Billionaire hedge fund manager John Paulson announced Tuesday he is giving Central park a whopping $100 million.

It’s thought to be the largest donation in public park history.

Half of the money will go to the Central Park Conservancy’s endowment. The other half will go to capital improvements in the park including the restoration of the north woods and landscaping in the southwest corner.

“For over 150 years, Central Park has been among New York City’s most important cultural institutions. An urban oasis for visitors from all over New York City and from all over the world. Central Park’s significance to New York City cannot be overstated,” Paulson said.

“Public-private partnerships have been essential to the unprecedented investment that we’ve made in parks across our city over the past decade and this gift really is going to allow us to build on that work,” said Mayor Michael Bloomberg.

Tuesday’s donation is the largest private gift to any park anywhere.

Central Park sees around 40 million visitors each year.

Source: NY 1

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Posted by on October 23, 2012. Filed under NY News,Slider. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.