The Economic Club of Washington, D.C.

The Economic Club of Washington, D.C. is a non-profit, non-partisan member-based organization that offers a forum where global leaders can share insights about major issues of the day to the community of the Washington area’s leading executives.[1]

The Economic Club of Washington, D.C.
Formation1986 (1986)
Legal status501(c)(3) organization
PurposeTo provide a premier forum for Washington, D.C. business leaders
HeadquartersWashington, D.C.
Membership
950+
Chairman
David Rubenstein
Websitehttps://www.economicclub.org/

History

The Economic Club of Washington, D.C. was founded in 1986 as a group that would serve to recognize the role that Washington plays in the world economy. Under its first president, Robert Linowes, the Economic Club quickly established itself in its first six years as an eminent forum for the exchange of information about critical public policy issues. Harry McPherson, the Economic Club's second president from 1992-1999, continued on the course established by Linowes of measured growth and top-echelon speakers, which included Hillary Clinton,[2] among other notable featured guests. When former senator George J. Mitchell succeeded McPherson as president from 1999-2004,[3] he appointed a planning group composed of several members who were charged with developing a strategic plans. One idea led to the adoption of improved communications methods and streamlined management processes. Following Mitchell's term, Vernon Jordan, serving as President from 2004-2008,[4] further enhanced the caliber of speakers. Under his leadership, the Club achieved a major milestone when U.S. president George W. Bush appeared as a speaker in 2005.[5]

Club Chairman

David Rubenstein is a co-founder and co-executive chairman of The Carlyle Group, one of the world’s largest private equity firms. Since he became chairman in 2008, Economic Club membership more than doubled from 425 to over 950 and the number of meetings held each season has grown from an average of 4 or 5 to as many as 12 to 14. Rubenstein also contributes nearly $1 million annually to the David M. Rubenstein/Economic Club of Washington, D.C. Scholarship Program.[6]

Events and Speakers

Signature Events
Former Secretary of Defense Ash Carter speaking to club members, 2016

The Economic Club hosts ten to twelve signature speaker events each year, generally organized around a breakfast, lunch, or dinner.  An average of 400 members and guests attend these meetings with some events surpassing 800.[7] This audience is augmented by members of Congress, other U.S. political leaders, and serving Ambassadors from countries all over the world who regularly attend these events. Featured speakers in recent years have included the Presidents of the United States,[5] Colombia,[8] and Panama;[9] the Prime Ministers of Finland,[10] Israel[11] and Singapore;[12] a former Prime Minister of Great Britain;[13] Speakers of the U.S. House of Representatives;[14] heads of the Federal Reserve Board;[15] every Secretary of the Treasury since 1986; other Cabinet members and government officials; and leaders of Fortune Global 100 corporations.

Main article: List of Speakers at The Economic Club of Washington, D.C.

Executive Conversations

These are smaller group gatherings attended by approximately 30-75 Economic Club members. The more intimate setting allows for greater interaction between speakers and Club members in the exploration of subjects of compelling interest to the United States’ business community. These forums typically are closed to the media.

Global Executive Conversations

Similar to Executive Conversations, these smaller group gatherings allow for greater interaction between speakers and Club members on international topics, including foreign relations and intercontinental business. Speakers in recent history have included various ambassadors as well as foreign heads of state.[16][17]

Global Initiative

The goal of the Global Initiative is to expand interaction between political and business leaders from other nations with the political, diplomatic, and opinion-leading business community in Washington, D.C., and the surrounding area, with an emphasis on economic development.  The Economic Club weaves the Global Initiative into existing programming – notably the Signature Speaker Series and Global Executive Conversation Series.

Member-Hosted Dinners

Twice a year, up to ten Club members host 130+ members for small group dinners. The participating members are dispersed among the hosts’ homes and offices throughout the Washington Metro region. These gatherings, generally 10 to 20 members, provide an informal opportunity to participate in topic-driven discussion.

Education Programs

The Economic Club of Washington, D.C. manages education programs that provide scholarships, internships, mentoring, alumni engagement, academic enrichment opportunities, and graduate-level fellowships to students who reside in DC and graduate from one of the participating Public or Public Charter schools.


The cornerstone of the education initiatives is the David M. Rubenstein/Economic Club of Washington, D.C. Scholarship, which is awarded to college-bound graduates of DC public and public charter high schools. Over 50 scholars each receive $20,000 to cover costs over four years of college, totaling around $1 million in scholarships per year. Now in its fifteenth year, this program, endowed by Rubenstein, has awarded nearly $11 million to 711 scholars.


The Economic Club also awards a one-time $10,000 Vernon E. Jordan, Jr. Fellowship Award to recipients of the David M. Rubenstein Scholarship to pursue a higher education across all academic disciplines. The Fellowship is based on demonstrated leadership, engagement in Economic Club activities, academic merit, history of community service and potential for the student’s graduate education to contribute to the community and to the overall goals of the Scholars to Leaders program.

References
  1. "Economic Club of Washington, DC". www.nndb.com. Retrieved 2019-01-24.
  2. "The Honorable Hillary Rodham Clinton". The Economic Club of Washington D.C. 2016-09-28. Retrieved 2019-01-24.
  3. "Senator George Mitchell". Seeds of Peace. Retrieved 2019-01-24.
  4. "A quarter-century of big names in business". The Washington Post. June 3, 2012.
  5. "The Honorable George W. Bush". The Economic Club of Washington D.C. 2016-09-28. Retrieved 2019-01-24.
  6. "David M. Rubenstein: Education". www.davidrubenstein.com. Retrieved 2019-02-04.
  7. "Greater Washington has waited for months. Here's what Jeff Bezos finally had to say about HQ2". www.bizjournals.com. Retrieved 2019-01-24.
  8. "His Excellency Juan Manuel Santos Calderón". The Economic Club of Washington D.C. 2017-05-02. Retrieved 2019-01-24.
  9. "His Excellency Juan Carlos Varela Rodríguez". The Economic Club of Washington D.C. 2017-06-06. Retrieved 2019-01-24.
  10. "His Excellency Juha Sipilä". The Economic Club of Washington D.C. 2018-11-08. Retrieved 2019-01-24.
  11. "His Excellency Benjamin Netanyahu". The Economic Club of Washington D.C. 2018-02-26. Retrieved 2019-01-24.
  12. "Lee Hsien Loong". The Economic Club of Washington D.C. 2017-10-11. Retrieved 2019-01-24.
  13. "Tony Blair". The Economic Club of Washington D.C. 2016-09-24. Retrieved 2019-01-24.
  14. "The Honorable John Boehner". The Economic Club of Washington D.C. 2016-09-24. Retrieved 2019-01-24.
  15. "The Honorable Janet L. Yellen". The Economic Club of Washington D.C. 2016-09-14. Retrieved 2019-01-24.
  16. "President Varela presents in Washington advances of Panama in economic and financial transparency". www.presidencia.gob.pa. Retrieved 2019-01-29.
  17. "Finland : Prime Minister Sipila to visit Washington". MarketWatch. Retrieved 2019-01-29.
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