13 Jun Stephen A. Schwarzman Pledges Additional $15 million to USATF Foundation in Support of Elite Track & Field Athletes
NEW YORK – In an unprecedented show of support for Team USA athletes ahead of the 2024 Olympics, Stephen A. Schwarzman, Chairman, CEO and Co-Founder of Blackstone, one of the world’s largest alternative investment firms, has pledged $15 million to the USATF Foundation over the next four years. This brings Mr. Schwarzman’s gifted and pledged support for the Foundation to nearly $30 million since 2013.
Schwarzman’s latest pledge is further evidence of his commitment to the country and the sport of track & field. Every year over the next Olympic cycle, 65 track & field athletes will be awarded $40,000 Stephen A. Schwarzman grants and 35 additional athletes will be awarded $30,000 Stephen A. Schwarzman grants. These award amounts are more than any other previous Foundation grants and represent the largest private support of Olympic hopefuls in the sport. Ten of these awards will be reserved for Next Generation Awardees who are recent graduates from NCAA track & field programs and have Olympic aspirations.
Stephen A. Schwarzman said, “From an early age, track and field taught me the value of sportsmanship, hard work and dedication – lessons that have stayed with me throughout my life. These athletes are an inspiration to so many in the country and I’m honored to help ensure they can share their talents on the world stage.”
Schwarzman’s support comes at a pivotal moment for Team USA as the Summer Games will return to U.S. soil in Los Angeles in 2028 after this year’s 2024 Summer Olympics take place in Paris. For most of the Stephen A Schwarzman grantees this direct financial support serves as their main source of income. The funds are used to live, train, and compete.
To complement Schwarzman’s gift, the USATF Foundation Board and major donors pledged to match his support with a $10 million dollar contribution. This combined $25 million in gifts and pledges over the next four years sets a new standard for USATF Foundation assistance.
“On behalf of the athletes, we owe Steve a tremendous amount of gratitude for his latest pledge. His generosity allows our athletes to train and compete while eliminating the fear of inadequate financial support,” stated USATF Foundation Chairman Bob Greifeld.
After the 2024 class of grants are awarded later this summer, the Foundation will have awarded 655 Stephen A. Schwarzman grants. The funding is used for athletes’ training expenses, cutting edge equipment, massage and recovery, travel expenses, health insurance, medical expenses, coaching, and family support at major events. These new grants will continue to provide our athletes with the best opportunity to medal when representing Team USA.
“I wholeheartedly appreciate the USATF Foundation and Stephen A. Schwarzman for their contribution to our sport. I received the Stephen A. Schwarzman grant award two years in a row, which has helped me during my track career. The grants allowed me to offset costs beneficial to my training, especially my recovery. I not only made the 2022 and 2023 World Championship teams, but I was able to help Team USA win a gold medal in the 4x100m relay at both Championships,” stated Foundation Grantee Twanisha TeeTee Terry.