This just in from the New York Times' Metro Desk's Twitter account:
The Central Park Conservancy just concluded a press conference making the announcement. A press release will go out shortly, a spokesperson told Business Insider.
The New York Times' Micheal De La Merced Tweeted that Paulson was described as "the greatest donor" Central Park has ever had.
Paulson, the billionaire founder of Paulson & Co. who famously bet against the subprime housing market in 2007, also serves on the Chairman's Circle of the Central Park Conservancy.
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