In 2023, David Rubenstein, a cofounder of the private equity giant Carlyle Group with an estimated net worth of $4.3 billion, was negotiating to buy the Baltimore Orioles when a Zoom call turned insulting.
Lawyers and investment bankers representing the buyers and the team’s owners were discussing the deal. Someone questioned whether Rubenstein, now 77, and his prospective partner, investment executive Mike Arougheti, 53, understood debt — though they’d spent their careers in finance.
Team owner David Rubenstein of the Baltimore Orioles looks on prior to a game against the Minnesota Twins at Oriole Park at Camden Yards in Baltimore, Maryland, Saturday, March 28, 2026. Diamond Images/Getty Images
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