Who is David Rubenstein? American Billionaire 'in talks' of $1,710,000,000 takeover of Orioles

On December 7, reports emerged that billionaire private equity manager David Rubenstein was exploring his options with regards to purchasing the Baltimore Orioles.

A native of Baltimore, fans of the AL's only 100-win team in 2023 were quick to applaud the move. But who is David Rubenstein? And what could the ramifications of a potential purchase from the high-roller?

David Rubenstein was born in 1949 in Baltimore, some five years before the Orioles moved to town. After attending Baltimore City College and receiving his high school diploma from there in 1967, Rubenstein went on to enroll at Duke University in North Carolina. Rubenstein subsequently earned his JD from the University of Chicago in 1973.

"Bloomberg Is Reporting That Billionaire David Rubenstein Is In Talks To Buy The Orioles And I May Explode From Happiness @editti22" - Barstool Baseball

Following his graduation from the University of Chicago, Rubenstein worked in private legal practice, and served as a domestic advisor to former US President Jimmy Carter. In 1987, he founded The Carlyle Group, a private equity firm that boasts some $293 billion in assets under management as of 2023.

Over the subsequent decades, Rubenstein became one of the biggest names in private equity. Famously, he turned down a meeting with Facebook founder Mark Zuckerberg when the social media giant was in its nascent stage, something he has said he deeply regrets.

In the early 2020s, it was rumored that Rubenstein was interested in purchasing the Washington Nationals, but that deal would never come to fruition. However, with a net worth of about $3.6 billion, Rubenstein was far from out of the game.

"Billionaire and Carlyle Group Inc. founder David Rubenstein is reportedly in talks to acquire the Baltimore Orioles. The franchise carries an estimated value of $1.7 billion." - Front Office Sports

If Rubenstein does indeed take control of the Baltimore Orioles, he will succeed 94-year old Peter Angelos, who bought the team in 1993. In recent years, Angelos and his family have come under fire for what fans deem extensive cost-cutting, and their refusal to sign a new lease on the stadium.

David Rubenstein fits the model of the next generation of MLB owners

As have seen with the New York Mets franchise since billionaire Steve Cohen took control in 2020, deep-pocketed owners like to ink some big deals. While the O's put forth a strong season in 2023, there is no doubt that the financial backing of an owner like Rubenstein will allow the team ot take things to the next level.