Billionaire David Rubenstein on Buying the Orioles, Missed Tech Deals and AI Caution
David Rubenstein discussed his purchase of the Baltimore Orioles, regrets over passing on early Amazon and Facebook stakes, and his view on navigating the AI investment frenzy.
The co-founder of Carlyle Group, David Rubenstein, recounted why he bought the Baltimore Orioles for roughly $1.7 billion, noting a desire to support his hometown and partake in the growing profitability of sports franchises. He reflected on his investment career, highlighting Carlyle’s modest start as his top success and describing the sale of an early Amazon position and a missed $30,000 Facebook raise as his most costly errors.
Rubenstein observed that ultra-wealthy individuals now see team ownership as both a status symbol and a revenue source. Turning to technology, he described AI valuations as “really, really high,” pointing to Nvidia’s earnings as proof that some firms can thrive. He cautioned against panic-selling in bubble bursts, quoting Warren Buffett and suggesting that holding or buying more may be wiser when markets dip.
