Rubenstein Gives Duke $15 Million For Innovation Effort

Investor and philanthropist David Rubenstein is giving $15 million to his alma mater, Duke University, following a series of high-profile gifts to projects including repairing the Washington Monument.

The billionaire said Friday the money will fund courses, mentoring and an incubator for students and faculty to develop new startup ventures through Duke's Innovation and Entrepreneurship Initiative.

Rubenstein is co-founder of the Washington-based private equity firm The Carlyle Group, which recently went public on the Nasdaq exchange.

Rubenstein's gift makes Duke the largest single beneficiary of his philanthropy, following a donation of $13.6 million to Duke's libraries last year and earlier gifts to its public policy school.

In January, he donated the final $7.5 million needed to repair cracks atop the Washington Monument caused by last summer's East Coast earthquake.

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