Billionaire John Paulson Donates $100 Million To Central Park: Largest Park Donation Ever

Billionaire John Paulson decided to donate $100 million to  the Central Park Conservatory. Paulson who is worth about $11.8 billion donated the large lumpsum to help renovate and maintain park facilities as well as pay for recreation programs.

Pualson during his announcement, "This past weekend in Central Park I saw babies in carriages, children playing, couples holding hands, dogs running, musicians playing, people jogging, cycling and people from all over the world talking, laughing and exercising," Paulson added, "I thought to myself, 'Central Park is a paradise unlike anywhere else in the world.'"

The billionaire plans on giving the park $60 million the first year following with $10 million for the next four years. Mayor Michael Bloomberg said in a statement, "Central Park has an enormous economic impact on our city -- 40 million annual visitors generating $1 billion in economic activity -- and that's in large part due to the great work of the Central Park Conservancy, the Parks Department and the New York City Police Department, who have worked together since 1980 to restore Central Park to its glory and take it to new heights."