The largest donation ever made to New York City was given by hedge fund manager John Paulson’s Paulson Family Foundation this past Tuesday. The $100 million donation is earmarked for the Central Park Conservancy, an organization which is responsible for the management and maintenance of Central Park under contract with the City of New York.
Paulson is the president and co-fund manager of Paulson & Company, a hedge fund firm headquartered in New York City.
Paulson, a native of Queens, remarked about his gift,
“It’s simply impossible to imagine what New York would be without Central Park.”
CEO of the Conservancy, Doug Blonsky said the infusion of greenbacks into New York’s largest green space is much more than just a generous gift.
“John is a man who knows a good investment when he sees one” said Blonsky during the announcement which was made at the Bethesda Fountain. “Central Park is fundamental to the economic and cultural health of New York City and the quality of life of its residents.”
The donation will be used to finance several major park improvement projects, including the restoration of the North Woods, a facelift for the landscaping surrounding Merchants Gate, some overhauling of children’s playgrounds and more.