The Tim Ferriss Show

#495: David Rubenstein, Co-Founder of The Carlyle Group, on Lessons Learned, Jeff Bezos, Raising Billions of Dollars, Advising Presidents, and Sprinting to the End

Jan 27, 2021

David Rubenstein, co-founder of The Carlyle Group and a significant philanthropist, shares his journey from politics to entrepreneurship. He discusses early influences like Ted Sorensen, and the transformative role of effective communication in success. Rubenstein delves into the founding challenges of Carlyle, providing insights on fundraising and leadership lessons from figures like Jeff Bezos. He also reflects on the impact of Ruth Bader Ginsburg and emphasizes the importance of literacy and thoughtful philanthropy in society.

01:46:25

Episode guests

David Rubenstein

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Episode notes

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Quick takeaways

Diversify fundraising strategies geographically and across asset classes for institutionalized growth.

Resilience in branding after political controversies demands leadership transitions and depoliticizing efforts.

Confidence, transparency, and post-fundraising communication are vital for lasting investor relationships.

Avoid fundraising pitfalls by maintaining professionalism, effective communication, and continuous investor engagement.

Established track records ease fundraising, emphasizing the need for transparency, honesty, and upfront challenges sharing.

Deep dives

Innovative Fundraising Strategies

Reubenstein devised novel approaches to distinguish Carlyle's fundraising efforts, such as launching multiple funds across various geographies and asset classes akin to Fidelity, fostering an institutionalized and globalized firm. He capitalized on his strength in fundraising by strategically recruiting former government officials to enhance the firm's public profile, albeit facing criticisms later that caused a reevaluation of branding initiatives.

Intro

5min

From Aspirations to the White House

15min

Crafting Communication: Skills for Success

7min

Navigating Career Changes: From Politics to Entrepreneurship

6min

The Evolution of Buyout Firms

22min

Founding Challenges and Fundraising Insights

11min

Legacy of Ruth Bader Ginsburg

5min

The Allure of Political Power

6min

Reflections on Reading and Literacy

23min

10.

Future Interactions and Product Highlights

7min

David Rubenstein, Co-Founder of The Carlyle Group, on Lessons Learned, Jeff Bezos, Raising Billions of Dollars, Advising Presidents, and Sprinting to the End | Brought to you by ShipStation shipping software, Headspace easy-to-use app with guided meditations, and Theragun percussive muscle therapy devices. More on all three below.

David M. Rubenstein (davidrubenstein.com) is co-founder and co-executive chairman of The Carlyle Group, a global investment firm with $230 billion under management.

David is chairman of the boards of trustees of the John F. Kennedy Center for the Performing Arts and the Council on Foreign Relations, a fellow of the Harvard Corporation, and a regent of the Smithsonian Institution.

David, an original signer of the Giving Pledge, has made transformative gifts for the restoration or repair of the Washington Monument, Kennedy Center, Smithsonian, National Archives, National Zoo, and the National Museum of African American History and Culture.

David is host of The David Rubenstein Show: Peer-to-Peer Conversations on Bloomberg TV and the author of The American Story: Conversations with Master Historians and How to Lead: Wisdom from the World’s Greatest CEOs, Founders, and Game Changers.

David is a graduate of Duke University and the University of Chicago Law School.

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