Billionaire David Rubenstein told us why he paid $1.7 billion for a baseball team, and shared his 2 biggest investing mistakes

David Rubenstein is the principal owner of the Baltimore Orioles. Chris Bernacchi/Diamond Images via Getty Images David Rubenstein spoke to Business Insider about buying a sports team and his two big misses. He said the AI boom may still have steam, and selling in a crash can be a massive mistake. The private equity billionaire and author published a new book, "Inside the Owner's Box," this week. David Rubenstein explained why he bought a baseball team, missed out on Amazon and Facebook, and would be careful betting on or against the AI boom. The billionaire cofounder of Carlyle Group , one of the world's biggest private equity firms, spoke to Business Insider ahead of the release of his new book "Inside the Owner's Box: Conversations on Power and Leadership in Sports."