WASHINGTON (AP) - Billionaire investor David Rubenstein is giving the Library of Congress $1.5 million to fund three new literacy awards.
Rubenstein of Bethesda, Md., is co-founder of the Carlyle Group private equity firm. He is a major philanthropist and in 2010 gave the library $5 million to support the National Book Festival.
Rubenstein announced his latest gift Thursday at the first International Summit of the Book, which includes national libraries from Britain, Russia, Spain, Peru and South Africa. Rubenstein says spending time at public libraries while growing up helped open doors for him.
The library will create the David M. Rubenstein Prize to honor a groundbreaking contribution in advancing literacy. It's also creating an American Prize and an International Prize to honor projects that combat disinterest in reading.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Hop-heavy beers rule these rankings of the best in the U.S.
A new gadget will let you know how active your dog is. (Video)
Katy Perry talks about Russell Brand and says she loves John Mayer.
Kim Kardashian gives birth to first child a few weeks early.