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.

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.

Part of China's strategic planning is to make their universities among the top level of the world, and I think they understand you can't do that without the adoption of some of the principles of the great universities in the West; one of those is the ability to have free expression and discussion in the classroom.

Majorities, as such, afford no guarantees for justice. They are men of the same nature as minorities. They have the same passions for fame, power, and money, as minorities; and are liable and likely to be equally - perhaps more than equally, because more boldly - rapacious, tyrannical and unprincipled, if intrusted with power.

Before me, there was no money, no business with yoga.

Before I had my son, I became obsessed by this painting I'd seen in an art gallery. It was a lot of money, but I felt such a rush of adrenaline when I wrote the cheque to buy it. I thought I was going to gaze lovingly at it forever, but after just two weeks, I realised I didn't really like it any more.

The money doesn't buy me, and it never will.