Seven junior Blackstone execs score charity check from top brass - Business Insider

Stephen Schwarzman, CEO of The Blackstone Group, shares some words at an internal firm contest where associates pitched dealmakers on charitable donations.Business Insider sat in on an internal competition at The Blackstone Group this week where associates, product managers, and other staff pitched senior dealmakers on charitable donations.

Seated up front were two rows of about 20 judges, including Joan Solotar, head of Blackstone's private wealth solutions business; David Blitzer, head of its tactical opportunities unit; and Sean Klimczak, head of its infrastructure group. "Almost 70 percent of young people in the U.S. today who go to jail are likely to return," he said, directing judges to the papers in front of them. "At the same time, it's an incredible cost to the taxpayer. It costs over $300,000 a year to keep someone in Rikers prison."His pitch was met with some measured scrutiny, with general questions about the program and the people it helps, but also about granular details of the organization's financial needs.

Getting Out & Staying Out — or GOSO — partners with 100 local businesses to offer paid, 12-week internships. Goldberg's overall ask was that Blackstone fund 25 internships. "First, its food service program," she said, "through which it will give or serve one million meals annually, to 30,000 people including 9,000 children."

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