Queens billionaire donates $8.5 million to charter schools

A Queens-bred billionaire hedge fund manager has donated $8.5 million to open new charter schools in the city.

John Paulson announced his gift to Success Academy Charter Schools on Thursday.

"The best way to reduce poverty long term is to improve the quality of public school education," said Paulson, 59, who attended city public schools.

Officials said they have received more than 22,000 have applied for fewer than 2,300 seats in its schools.