I chose to start Schwarzman Scholars because I saw the potential for the world to become focused and unhappy with China, in large part because of the populism that was growing throughout the world.

I'm concerned with China growing at double or triple the rate of the West, that there will be tensions. One needs to do something to start addressing misunderstandings and frustration.

Inaccurate analysis produces faulty insights and bad decisions - which lead to losing a tremendous amount of money.

The concept of fair value accounting is correct and useful, but the application during periods of crisis is problematic. It's another one of those unintended consequences of making a rule that's supposed to be good that turns out the other way.

If you have your own money, you feel entitled to spending your own money how you'd like to, and that's a slippery slope.

I don't spend a lot of money on clothes, which is weird because I am a fashion model, but when it comes to the new collections coming out, I am just praying designers send it to me for free.

The bottom line is, don't be a lifer. Get in, get a business, get five years of what you can, and get out. What happens is they start listening to the promoters, 'You'll get the next main event.' And then, all of a sudden, you become a lifer. That's the kiss of death there. Get in shape, go in, get the money, get out, and have a wonderful life.

Every good act is charity. A man's true wealth hereafter is the good that he does in this world to his fellows.