David Rubenstein, co-founder of The Carlyle Group, defines "patriotic philanthropy" as an effort to remind Americans of their country's history and heritage by supporting its foundational institutions and preserving important historical artifacts and sites. He coined the term in 2012, aiming to capture the dual American sentiments of national pride and a desire to help others. Rubenstein believes an informed citizenry is crucial for a healthy representative democracy, and by making history tangible, people are more likely to learn about it.
Rubenstein has actively engaged in this form of philanthropy through significant personal investments. He made headlines for purchasing a 1297 version of the Magna Carta for $21.3 million, subsequently loaning it to the National Archives for public display. His efforts also extend to the restoration of key national monuments, such as the Washington Monument (damaged in a 2011 earthquake), the Lincoln Memorial, and the Jefferson Memorial. He highlights that many major memorials, including the Vietnam Memorial and the Martin Luther King Jr. Memorial, were initially built with private funds, demonstrating a rich history of business and philanthropy partnering with the government.
Beyond physical restorations and acquisitions, Rubenstein supports institutions that tell the American story, including the Library of Congress, the U.S. Constitution Center, the Smithsonian Institution, and the John F. Kennedy Center for the Performing Arts. He also emphasizes the broader need for private citizens and corporate America to contribute, noting that the National Park Service alone faces an $11 billion maintenance backlog. He encourages contributions of time, energy, ideas, and money, and suggests corporations encourage employee volunteering and match gifts to patriotic causes. While acknowledging that some monuments honor controversial figures like slave owners, Rubenstein differentiates between memorializing their historical roles (e.g., Washington as a general or president) and promoting their morally objectionable actions.
