Money Can Buy You a Library, But You Can’t Go Scrawling Your Name All Over It

Money can’t buy you love…but it can buy you a library. And if you are billionaire Stephen Schwarzman, founder of the private equity firm the Blackstone Group, it can buy you not just any library, but the main beaux-arts building of the New York Public Library.

Schwarzman’s gift, announced last month, was the largest ever to a cultural institution in New York and in return, the authorities proposed renaming the city’s 98-year-old marble central library building on Fifth Avenue in his honor – as the Stephen A Schwarzman building.

To re-christen the ornate structure, home of the lions Patience and Fortitude, the plan was to carve Schwarzman’s name in five places – twice on plinths at each of the two main entrances and once in a plaque set into the floor of the porch.

But the local community board, which scrutinises planning matters, was unimpressed. It ruled that five carvings were “unreasonable” and out of keeping with a beloved landmark and it only approved three mentions of Schwarzman’s name. Reports from The Telegraph and Guardian UK.