Can a very rich mentor get me a 2023 summer internship in IB?

Very unlikely he can get you like BB IB/MF PE or anything on that level as those slots are filled way in advance and there are a lot of rules around nepotism hires. Very likely he can figure out a boutique IB, LMM PE etc with a friend of his, as these places tend to have less formal programs and can easily add someone a month out.

Don't ask "Hi rich man, can you get me an internship?" but phrase it as "Unfortunately my internship was cancelled suddenly, I'm still trying to figure out what I'd like to do this summer. I've always been interested in investment banking but I'd be open to anything in finance if you have any suggestions of people I should connect with"

Thank you. I want to stress that he randomly emailed me and asked about summer 2023. I was just honest with him that I'm currently scrambling. He responded that he'd like to help. He's asked to help in the past, but I guess I've been too much of a prole to capitalize on that. And part of it is not knowing how much help this man can be. He's super nice and very generous with his money, I just don't have any experience sort of knowing someone with such power and connections. And I'm not his son or grandson. Like he would really stick his neck out to help me land something in IB this late in the year? That would be probably the most amazing thing to happen in my life.

Very unlikely he can get you like BB IB/MF PE or anything on that level as those slots are filled way in advance and there are a lot of rules around nepotism hires. Very likely he can figure out a boutique IB, LMM PE etc with a friend of his, as these places tend to have less formal programs and can easily add someone a month out.

Meaning this place would genuinely need an intern or he'd basically be asking a investment banking pal to create a space for me, random working class kid, and pay me sort of a lot of money? Seems like that would be such a big favor. Basically costing one of his pals $10,000 to $20,000 plus? Or maybe I'd just say not worried about money, just want some great experience for the resume? Beggars can't be choosers sort of thing.

Very unlikely he can get you like BB IB/MF PE or anything on that level as those slots are filled way in advance and there are a lot of rules around nepotism hires. Very likely he can figure out a boutique IB, LMM PE etc with a friend of his, as these places tend to have less formal programs and can easily add someone a month out.

Do you mean the boutique investment banks peppered throughout this forum with name recognition -or- more obscure?

Associate 3 in IB-M&A

Very unlikely he can get you like BB IB/MF PE or anything on that level as those slots are filled way in advance and there are a lot of rules around nepotism hires. Very likely he can figure out a boutique IB, LMM PE etc with a friend of his, as these places tend to have less formal programs and can easily add someone a month out.

Don't ask "Hi rich man, can you get me an internship?" but phrase it as "Unfortunately my internship was cancelled suddenly, I'm still trying to figure out what I'd like to do this summer. I've always been interested in investment banking but I'd be open to anything in finance if you have any suggestions of people I should connect with"

I had a BB vice chairman who was connected to me through a mentor, could not land anything on the basis that recruiting was already completed.

If anything try to get a corporate role.

Less hard to break into compared to Banking since they typically have an extremely structured process.

Maybe consulting but idk much about their recruiting system.

Going to give a few pieces of advice.

1. The most successful people do not work at the largest companies. BB banks, large PE shops, blue chip tech firms are great places to have worked at 20 years ago. Now, they are mature and while they pay well and make you credentialed, they aren't where the really smart people go. Don't be bait and hooked by prestige.
2. Keep an open mind. How the person got successful does matter. A person who started a company and sold it is not the same caliber of business person as a successful investor. That said, realize that there might be opportunities and unique situations not on the large BB path that could be more lucrative with a better lifestyle than a BB banking analyst role
3. How old you are matters. An internship can be a learning experience over something you are fully committing to. A sophomore internship is different than a junior internship. 
4. The rules are different in a turbulent economic time. Banking analyst roles are going to get cut and finding a job today is not as easy as it used to be. Don't be too choosy.
5. The fastest way to ensure people don't want to help you is being arrogant or thinking you know more than you do.

I would set a meeting with him and tell him your goal 10 years from now and work backwards being very candid. Here's an example:

"well truthfully, I think I want to be an investor and like private companies, so one day I want to do PE. I have heard a lot of people go into investment banking and that seems to be a path where people learn a great deal. So, I was hoping this coming summer to work in investment banking, but my internship got cancelled. Ideally I was hoping working for a larger firm because I think those firms seem to lead to the best opportunities. That said, I'm trying to figure things out. Do you have any advice?"

From there they might guide you down a path they think is more relevant for your interests. As a great example, I had a mentee who discussed how they really loved  working with people, but wasn't the best quantitatively so they wanted to do wealth management. I explained that finance isn't calculus and given the individual loved tinkering with cars and had excellent grades, I thought they actually might find working for a company very interesting. I matched them up with a consulting firm and after that internship they decided they wanted to do MBB consulting where they are currently.

An alternate example is many family office analysts. Look at the people who work at like iconiq or founders fund. Many of these people didn't work at Goldman Sachs, they just immediately found roles at excellent shops. If you are a hard worker, don't think that the person is getting you a job just to help you, they might be trying to give someone else a potential employee while also helping you get your feet wet in the world of business. Go in with an open mind, listen to the individual, and come back to this forum and let us know how it goes and we might be able to tell you if the opportunity is worth taking.

Genuine thank you for those insights and the confidence boost. I was feeling pretty crummy and I’m not used to asking for help but you’re probably right. He probably does think highly of me and this isn’t 100% charity, he believes I’d be a solid addition to whatever pal he hooks me up with. That was a perspective I was lacking and makes me feel less insecure about taking him up on the offer to help. Thanks again.

It's good to practice humility and patience. Rather than wondering if you can get a prestige summer internship handed to you for free 2 months before starting (when other students secured those offers 1 year ago), it would be great for you to focus on being respectful of the mentors time, thoughtful about how you describe your goals, and grateful for anything that comes out of it.

Mentors don't materialize all of your wildest dreams for you with a snap of their fingers. At best they give you guidance and an opportunity, and it's up to you to do everything you can to covert that into your dream role in the future.

Thank you and I agree fully. I was very worried about wasting his time because obviously I can scramble and land a random, less prestigious summer internship on my own. When he offered to help I only wanted to take him up on it to land a better internship; ideally an investment banking internship I missed out on. Do I deserve an investment banking internship peers landed a year ago? Of course I don’t. But if he can make it happen, I would be very appreciative of the opportunity.