Billionaire gives $100mn to New York's Central Park

October 24, 2012 02:08

AP reports: A billionaire hedge fund manager has pledged $100 million to the private organisation that maintains Central Park in partnership with New York City.

It's believed to be the largest gift ever to a public park. John A Paulson's gift to the Central Park Conservancy was announced today. Paulson says Central Park is the most democratic of New York's great cultural institutions.

He says his donation will benefit all New Yorkers. Mayor Michael Bloomberg said Paulson's gift will ensure that the park remains a peaceful oasis. The 56-year-old Paulson is the founder and president of Paulson & Co.

The pledge will be paid out by Paulson and his Paulson Family Foundation.

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