Made through the Stephen A. Schwarzman Fund, the gift will provide annual awards of $30,000 to sixty-five athletes over the next Olympic cycle. The USATF Foundation board and other donors have pledged to match Schwarzman's commitment, bringing the total value of the gifts and pledges over the next four years to $16 million. Previous gifts from the Schwarzman Fund have helped nearly three hundred athletes with training and travel expenses, coaching, equipment, health insurance, medical costs, and family support at major events.
Schwarzman has awarded nearly $4 million over the last seven years to the USATF Foundation, making him its largest individual donor.
"I'm proud to support these athletes as they look ahead to Tokyo in 2021 and Paris in 2024," said the private equity billionaire. "Their passion, dedication and grit — particular in these unprecedented circumstances — represent the best of America. It has been my privilege to hear many of their personal stories over the years and help them as they train to represent the country on the world stage."
(Photo credit: USA Track & Field Foundation)