Peter G. Peterson: A Life of Service and Philanthropy

Peter G. Peterson was a true public servant, dedicating his life to serving the nation and making a lasting impact on its financial future. He was a pioneer in the field of finance, serving as the Secretary of Commerce under President Nixon from 1972 to 1973.

As a successful businessman, Peterson co-founded the private equity firm Blackstone Group in 1985, which became one of the world's largest private equity firms.

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Peter G. Peterson's life and career were marked by his dedication to public service and his expertise in finance. He was a true American success story, rising from humble beginnings to become a prominent figure in the business and political world.

Peterson was born in 1926 in Kearney, Nebraska, and went on to graduate from Northwestern University and the University of Chicago Booth School of Business. He was a talented businessman and politician, serving as U.S. Secretary of Commerce from 1972 to 1973.

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Peterson's career in finance was equally impressive, with stints as chairman and CEO of Lehman Brothers and the founding of The Blackstone Group in 1985. He was a true leader in the industry, helping to grow the firm into a global leader in alternative investments.

Here are some of the key positions Peterson held throughout his career:

Peterson's legacy extends far beyond his impressive career, as he was a devoted philanthropist and advocate for fiscal responsibility. He founded the Peter G. Peterson Foundation in 2008, which aimed to raise public awareness about the importance of long-term fiscal sustainability.

Peter G. Peterson succeeded David Rockefeller as chairman of the Council on Foreign Relations in 1985 and served until his retirement in 2007.

He was the founding chairman of the Peterson Institute for International Economics, previously known as the Institute for International Economics, and was renamed in his honor in 2006.

Peterson served as trustee of the Rockefeller family's Japan Society and of the Museum of Modern Art, and was previously on the board of Rockefeller Center Properties, Inc.

He was also chairman of the Federal Reserve Bank of New York between 2000 and 2004.

In 2008, Peterson founded the Peter G. Peterson Foundation, an organization that spreads public awareness on fiscal sustainability issues related to the national debt, federal deficits, and Social Security policy.

PGPF distributed the 2008 documentary film I.O.U.S.A. and did outreach to the 2008 presidential candidates.

Peterson funded The Fiscal Times, a news website that reports on current economic issues, including the federal budget, the deficit, entitlements, and taxation.

Peterson signed "The Giving Pledge" in 2010, agreeing to give at least half his wealth to charity, and most of his giving was to his own foundation, The Peter G. Peterson Foundation.

Pete Peterson was a highly accomplished individual with a diverse range of experiences.

He co-founded The Blackstone Group in 1985, which he helped grow into a global leader in alternative investments over the next two decades.

Peterson spent more than 50 years working in business and public service.

He served as chairman and CEO of Lehman Brothers and Lehman Brothers, Kuhn, Loeb Inc. in the 1970's and 1980's.

Peterson was a skilled executive, having also been Chairman and CEO of audio-visual equipment manufacturer Bell & Howell, and an executive at advertising firm McCann Erickson.

He was appointed U.S. Secretary of Commerce in 1972, a position he held for one year.

Peterson was a prolific author, having written five books, including the best-selling "Running on Empty: How the Democratic and Republican Parties are Bankrupting Our Future and What Americans Can Do About It".

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Peter G. Peterson was a strong advocate for fiscal responsibility throughout his career. He contributed $458 million to the Peter G. Peterson Foundation from 2007 to 2011 to promote this cause.

Peterson was a vocal critic of the Tax Cuts and Jobs Act of 2017, which he believed would hurt the economy in the long run. He warned that mortgaging the country's fiscal future for temporary tax cuts would have serious consequences.

Peterson's views on business and economics were shaped by his experience as a successful businessman and investor. He was a founder of Lehman Brothers and served as the chairman of the Council on Foreign Relations.

Here are some key points about Peterson's views on business and economics:

Peter G. Peterson was a devoted philanthropist who donated over $4 billion to various causes during his lifetime.

He was also a prolific writer, penning several books on economics and politics, including "Running on Empty" and "The Education of an American Dreamer".

Peterson's legacy extends to his work at the Council on Foreign Relations, where he served as the chairman from 1985 to 2007.

The Peter G. Peterson Foundation, established in 2008, continues his work in promoting fiscal responsibility and economic growth.

Peter G. Peterson passed away in 2018 at the age of 93, leaving behind a lasting impact on American politics and philanthropy.

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