People used to think that private equity was basically just a compensation scheme, but it is much more about making companies more efficient.

As the baby boomers like me are retiring and getting ready to retire, they will spend whatever it takes - and theyre the wealthiest generation in our country - to make themselves live an enjoyable life in their retirement years.

My father worked in a post office and never made probably more than $8,000 a year as an employee of the post office, so when people can rise up from very modest circumstances and do well economically, I think that's a good thing about America, and we should encourage that kind of activity.

I give away about 50 percent of my income, so my, you know, desire to give back to the country is pretty strong and I intend to give away a lot more. I've signed the giving pledge with Warren Buffett and Bill Gates, and I intend to give away the bulk of my money.

People used to think that private equity was basically just a compensation scheme, but it is much more about making companies more efficient.

Sometimes the best decisions in life are on the spur of the moment. So I generally try to do what I think is right. And sometimes I make mistakes.

I am involved in a lot of nonprofits. And when I reached the ripe old age of 60, I wanted to provide leadership to some I had been involved in.