Rival heavyweights like KKR and Carlyle are out of breath attempting to match Blackstone, and smaller asset managers trying to increase their presence in alternatives simply dont have the needed perpetual capital, range of products, and track record. But it kept those considered to be trophy buildings and thus less vulnerable to recession. But Schwarzman prides himself on learning from past errors. Just recently, Gray had the unpleasant task of replacing a longtime colleague who ran Blackstones large hedge fund business with an executive he recently hired. Jon Korngold has been busy building out a division within Blackstone dedicated to investing in fast-growing companies. They also established NYC Kids RISE in partnership with the City of New York to accelerate college savings for low income children. Some Blackstone staff had hoped to design a vehicle for accredited investors with as little as. Beginning in 2012, Blackstone bought $125 million worth of houses a week. Schwarzman often gets asked by heads of other corporations how Blackstone avoided a rocky transition to new leadership. His fortune has jumped more than 50% this year to $5.9 billion. He is a member. Soon after the listing came the worst real estate downturn in at least a generation and it sat at the epicenter of a severe financial crisis. Partner, Pres, and COO & Director of Blackstone Inc, the total compensation of Mr Gray at Blackstone Inc is $86,366,606. Sales of plum holdings, such as The Cosmopolitan of Las Vegas, lifted profits available to shareholders. According to a Wharton School case study, the EOP acquisition was one of the most successful real estate private equity deals of all time.. Every broadcast ends with Grays sign-off: Stay calm, stay positive, and never give up.. The idea behind it is to invest heavily in a promising sector rather than seek out individual acquisitions. For the performance, Blackstone has been richly rewarded. [1] He is also chairman of Hilton Worldwide.[2]. In 2007, he acquired Equity Office Properties from real estate mogul Sam Zell for $39 billion. Mr. Gray received a BS in Economics from the Wharton School, as well as a BA in English from the College of Arts and Sciences at the University of Pennsylvania. In 2016, it was reported that Gray was under consideration as Treasury Secretary for the incoming presidential administration of Donald Trump. If we dont fund a particular product, then the industry is going to have to do it on their own or share the risk by joining us in the development process.. It turned out to be a 'perfectly preserved' 30,000-year-old squirrel. His net worth is currently pegged by Forbes at $22.3 billion. Marc Rowan, Apollos incoming CEO, pocketed at least $92.6 million, comprising $72.3 million in dividends and $20.3 million in distributions from his fund investments. Since 2012, he and his wife, Mindy, have donated more than $100 million to cancer research following the death of Mindys sister, Faith Basser, from ovarian cancer at age 44. Mr. Gray and his wife, Mindy, established the Basser Center for BRCA at the University of Pennsylvania School of Medicine focused on the prevention and treatment of certain genetically caused cancers. He initially denied Grays request that Blackstone invest an additional $800 million. A case in point: In 2019, when Blackstone raised an industry-record $26 billion private equity fund, Schwarzman didnt make a single presentation to investors. For press inquiries, contact [emailprotected]. As the leader of the . In that deal, Gray threaded the needle of fraught New York City politics and the scar tissue from Stuy Towns bankruptcy after a 2007 LBO. Although that day was 18 years away, he suggested that his eventual successor be quietly chosen and slowly groomed. At the time, it seemed to me a devastating loss, recalls Gray. In 2016, he ranked #1 on Commercial Observer's "Power 100" ranking of the most powerful people in New York City real estate. As the Gen. Pitcher who was drafted by the Colorado Rockies with the third pick of the 2013 MLB Draft. Stone. But though Gray maintains a low profile, Schwarzman splashes his name across his projects, such as the renovation of the New York Public Librarys Beaux Arts main building. Still, Blackstones dealmakers were able to generate more from selling out of deals in 2022 than the prior year. Before Fame He received his education from the University of Pennsylvania, graduating with degrees in both English and business. The Grays donated $25million to create the Basser Research Center, which focuses on cancer prevention, treatment, and research of BRCA-related, genetically-inherited cancers. (Reuters) - Blackstone Group Inc Chief Executive Stephen Schwarzman pocketed at least $610.5 million in 2020 from dividends and compensation, more than any other private equity executive and up 20% from last year despite the impact of the COVID-19 pandemic, regulatory filings showed. 2, took home at least $216.1 million in 2020, consisting of $123.2 million in compensation and $92.8 million in dividends from the. The appointment of Jon as President and COO lays the foundation for the next generation of senior management and positions the firm well for future leadership, said Blackstones billionaire co-founder and CEO Stephen Schwarzman. [1] He is also chairman of Hilton Worldwide. To accompany all these changes, Blackstone has adopted a new financial vocabulary. It also bundled logistics and warehouse assets together, building Logicor the largest logistics and distribution company in Europe. Black, 69, received $423,687 in compensation, $182.3 million in dividends from his Apollo shares and $2.5 million from his personal investments in the firms funds. Grays real estate team scoured the lists of upcoming foreclosure auctions put out by local courthouses around the country. The new Ardbeg BizarreBQ channels the distillerys fun-loving spirit and creativity into a bottle that fully embraces smokein this case, barbecue smoke. Blackstone countered that at a critical time in the economy, Invitation Homes had become a significant employer, helped restore derelict neighborhoods, and offered affordable housing to younger, middle-class families. But passive money managers like mutual funds and index funds had mandates against purchasing shares in listed partnerships. Individual Investors & Financial Advisors. The first strong signal was Grays appointment to Blackstones management committee in 2006. Gray recently donated $10million to purchase a building in northern Manhattan which will serve as the organization's second elementary school. KKR & Co Inc co-founders and co-Chief Executives Henry Kravis and George Roberts collected at least $81.3 million and $85.4 million respectively, primarily from their holdings in the firm, a regulatory filing showed. The Hilton investment eventually turned a $14 billion profit making it one of the most lucrative private equity deals ever. Jonathan ("Jon") Gray, president and COO of the Blackstone Group, vaulted into the ranks of the world's 500 richest people after shares of the investment giant have soared amid a flurry of dealmaking and strong earnings. There are teams, and if a leader succeeds, their team comes in and the other teams get squashed.. The new institute will look for innovative ways to detect and treat BRCA-related cancers before surgery, radiation or chemotherapy become the necessary treatment. Blackstone will provide Alnylam up to another $1 billion aimed at late-stage development of other pharmaceuticals in its pipeline. Alnylam invented inclisarin, but teamed up with another pharmaceuticals firm, the Medicines Company, to develop the drug. Unable to keep up monthly payments, hundreds of thousands of owners lost their houses. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Insiders trading at Blackstone Inc Over the last 16 years, insiders at Blackstone Inc have traded over $2,301,594,335 worth of Blackstone Inc stock and bought 906,721 units worth $30,000,792 . On average, Blackstone Inc executives and independent directors trade stock every 59 days with the average trade being worth of $44,370,666. With the firm enjoying a ten-year head start in thematic investing, its moat looks impregnable for now. A Canadian woman has one month to get rid of more than 130,000 vintage chocolate bars but is struggling to give them away before the expiration date, Leaked Pentagon docs show the shot-down Chinese spy balloon may have had a feature known as 'synthetic aperture radar' that can see through certain materials, WaPo reports, A rare hybrid solar eclipse to take place on April 20, Unpaid subsidies worth 1,200 crore leading to serious liquidity crisis among EV makers, says industry body, Coca-Cola India invests in foodtech platform Thrive, which aims to change the way you order your meal online. Pacing the sidelines during his daughters soccer games, he would get an earful from other parents who happened to be mutual fund managers and felt frustrated by their inability to purchase Blackstone shares. [2] Early life [ edit] Gray was born in Highland Park, Illinois to a Jewish family. Novartis agreed to pay Alnylam, as the drugs inventor, up to a 20 percent royalty on sales of inclisarin. A month ago, JPMorgan named two co-presidents and co-COOs, sharpening its succession plans for when CEO Jamie Dimon steps down. By submitting this request, you consent to receive email from Blackstone. By Rich Bockmann. [27][29] In May 2012, Gray and his wife, Mindy Gray, founded the Basser Research Center,[30] named in honor of Mindy's sister, Faith Basser, who died of ovarian cancer at age 44. When Gray took over Blackstone's real estate business, it had $5 billion under management. Jon Gray. Even when the boss steps down gracefully, the successor is frequently chosen after an undignified bake-off between rival executives, with the talented losers being shown the door. Or sometimes people get to a stage in their careers where they have had a lot of success and they are not as engaged as they were before.. For example, a tenant leasing space from a Blackstone-owned real estate company may also be developing a breakthrough medicine in which Blackstone has invested. He currently resides in Oklahoma, United States. This wasnt hard.. The annual haul, up from about $1.1 billion a year earlier, underscores Schwarzmans status as one of Wall Streets highest earners with a net worth of $30.6 billion, according to the Bloomberg Billionaires Index. Kravis, 77, received $42 million in compensation and $39.3 million in dividends from his KKR shares, while Roberts, also 77, took home $42 million in compensation and $85.4 million in dividends from his KKR shares. As in life, not everything about propaganda is black or white. As the President, Chief Operating Officer, and Director of the General Partner of Blackstone Inc, the total compensation of Jonathan Gray at Blackstone Inc is $98,994,200. It also gave heft to a new core investing platform that has a longer duration. Gray will replace longtime president Tony James, who will become executivevice chairman and continuewith a full-time role. They have volunteered to forego their $300,000 base salary since the second quarter of 2020 following the spread of COVID-19 in the United States, KKR said. Although Schwarzman has not given a hint about when he intends to step down as chief executive, he has left no doubt that Gray is next in line and already exerts almost equal authority at the firm. Its distributable earnings jumped 16 percent year-over-year in 2020 as the worlds largest manager of alternative assets such as real estate and private equity capitalized on the capital markets rally following the Federal Reserves moves to support the US economy during the pandemic. 2, took home at least $216.1 million in 2020, consisting of $123.2 million in compensation and $92.8 million in dividends from the. But by then, Gray will have had enough time to devise new formulas for Blackstone and maybe even start thinking about his own successor. With spending on travel plummeting, analysts wrote off the $26 billion acquisition as a disaster. Just the other week, it announced . Reporting by Chibuike Oguh in New York; Editing by Dan Grebler. Chairman, CEO & Co-Founder Jonathan Gray* President & Chief Operating Officer Michael Chae Chief Financial Officer John G. Finley Chief Legal Officer Christine Anderson Global Head of Corporate Affairs Joseph Baratta* Global Head of Private Equity Wayne Berman Global Head of Government Relations David Blitzer Global Head of Tactical Opportunities "[18] Gray later contracted COVID-19 and sent CFO Michael Chae to the event instead.[19]. Claris founder Nicholas Galakatos became head of Blackstone Life Sciences and was also appointed to BioMeds board. With more than 500 buildings totaling 100 million square feet, EOP was at the time the largest manager of office space in the U.S. As the great financial crisis unfolded, Blackstone sold off many of the properties. Gray was under consideration as heir apparent well before this real estate bonanza became fully clear. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Last year, Blackstones shares delivered total losses of 40%, when accounting for dividends. For information on our privacy practices see our Privacy Policy. McCormick left the firm of his own volition and stayed on for months after his desired departure date to help ensure a smooth transition, a Blackstone spokesperson said in a statement to Institutional Investor. BREIT contributes about 17% to Blackstone's earnings and is marketed to mostly high-net worth individuals. Today the portfolio has grown to $230 billion. Who is the president of Blackstone? Alternatives are only a small portion of its business today, but with $9.4 trillion AUM more than twice the size of Germanys GDP BlackRock has deeper pockets than any other financial entity. Fee-related earnings now account for about two thirds of Blackstones distributable earnings annually, up from only a third just four years ago. He is estimated by Forbes to be worth $3.9 billion. Blackstone has also been able to expand its range of investors. For office-specific contact information, please visit our our offices page. KKR decided to convert to a C-corporation and saw its share price shoot up. Above all, Schwarzman wanted to avoid the painful succession struggles seen at so many other prominent firms. These are properties used by Amazon and other e-commerce retailers as distribution hubs for the final stage in the delivery of products to nearby consumers. Jon Gray (born November 5, 1991) is famous for being baseball player. The bottled Grey Goose Classic Martini Cocktail features just three ingredients: Grey Goose vodka, dry French vermouth, and a dash of orange bitters. [39] Gray serves on the board of The Trinity School, as well as on the board of Harlem Village Academies,[40] a group of charter schools in New York City. He currently serves as Chairman of the board of directors of Hilton Worldwide Holdings Inc. and Nevada Property 1 LLC (The Cosmopolitan of Las Vegas). Gray was born in Highland Park, a Chicago suburb. Global Financial Leaders' Investment Summit, "Jon Gray Skips Party, Afraid Record Buyout Will Fail", "Blackstone Reports Record Year: Jonathan Gray's Real Estate Group Chips In 60% Of The Profits Jewish Business News", "Jonathan Gray, Blackstone's Real Estate Wizard Behind the Curtain" By Matt Chaban, "Jon Gray is the future of Blackstone. 2023 Forbes Media LLC. To view recent press releases, click here. [17] On 22 October 2022, The Wall Street Journal released an article by its editorial board in its printed edition, titled "Wall Street and Hong Kong's Strongman," mentioning Gray's name, and saying that "These executives may feel they have assets to protect in the city, but by kowtowing to Mr. Lee they are doing their reputations, and that of their companies, no good. To view recent press releases,click here. Jon Gray, the Highland Park native and billionaire who oversees global real estate for New York-based private equity giant Blackstone, and his wife, Mindy, earlier this month paid $3.7. For such long-term investments, Blackstone charges a 1 to 1.25 percent management fee and a 10 to 12.5 percent performance fee lower than the 1.25 to 1.75 percent management fee and 20 percent performance fee that the firm charges for more-traditional, shorter-term investments. National /. Black, 69, received $423,687 in compensation, $182.3 million in dividends from his Apollo shares and $2.5 million from his personal investments in the firms funds. Implement the following strategies to remove your daily blocks, become more self-aware and advocate for yourself. Gray points to last-mile logistics warehouses as the poster child for thematic investing. [5] In August 2013, Bloomberg estimated his net worth at just over $1.0billion due to his owning 40.6million Blackstone shares valued at $913million combined with over $120million in bonuses and salary. That included $182.7 million from dividends tied to a roughly 3% stake in the firm. And so are real estate deals for laboratory space. According to ratings agency Morningstar, Blackstone posts annual retention rates above 90 percent, compared with the 70 to 80 percent rate registered by more-traditional asset managers. He will oversee Blackstones operations, which span private equity, credit investing and hedge funds, reporting directly to CEO Schwarzman. Some $24 billion of money flooded into the unit, which generated half of Blackstones overall revenues. Blackstone is on pace to reach $1 trillion AUM well before 2026 the target date set by Schwarzman. Real estate accounts for 45 percent of Blackstone's. But the younger man was insistent. Blackstone's Jon Gray (Getty) Blackstone Group's president and COO Jon Gray thinks . You have to sometimes make calls where you have to promote one person and there are two or three talented candidates, says Gray. The most recent stock trade was executed by Joseph Baratta on 1 April 2023, trading 85,000 units of BX stock currently worth $7,337,200. Blackstone Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Its distributable earnings jumped 16% year-over-year in 2020 as the worlds largest manager of alternative assets such as real estate and private equity capitalized on the capital markets rally following the Federal Reserves moves to support the U.S. economy during the pandemic. Since Blackstones conversion, Schwarzman has almost tripled his personal worth, to $37 billion, elevating him to the 19th-wealthiest person in the world, according to Forbes. [41] In 2021 the Gray Foundation contributed $15 million to a program that opens a college savings account with $100 for every child enrolled in New York City public kindergartens. Since then, its share price has risen 400 percent. All rights reserved. BREIT contributes about 17% to Blackstone's earnings and is marketed to mostly high-net worth individuals. Both are generous philanthropists. There are 2 executives at Blackstone Inc getting paid more, with Jonathan Gray having the highest compensation of $98,994,200. His net worth is pegged at $8.5 billion, according to Forbes. In Hilton, Blackstone and Gray had a number of gut checks in which the firm doubled down and convinced limited partners to follow suit. Hilton is a business that owns few properties. This year, about 30,000 young grads applied for roughly 100 available jobs. In August 2013, Bloomberg estimated his net worth at just over $1.0 billion due to his owning 40.6 million Blackstone shares valued at $913 million combined with over $120 million in bonuses and salary. The houses were renovated, put up for rent, and maintained by Invitation Homes, a company created by Blackstone. Its still early days in those markets, with a huge amount of runway ahead, notes Blackstone CFO Michael Chae. . He sits on its Management Committee and most of its investment committees. In return, investors allow Blackstone to lock up their capital for many years. Meanwhile, James will take on more responsibility at the board level as executive vice chair. McCormick had been sole head from 2018 until Dowling, the former Brown University endowment chief, was hired by Blackstone last January to improve the performance of the hedge fund unit. Blackstone announced its conversion to a corporation in April 2019. The stock has since generated some 21.2% in total returns this year, outpacing the S&P. [20] Gray's boss and Trump's friend Stephen A. Schwarzman quickly dismissed the idea that a slot in a Republican cabinet would be offered to a Democratic supporter like Gray. Jon Grays rise to the top of the worlds largest alternative-asset management firm felt inevitable. Jonathan D. Gray (born February 4, 1970) is an American billionaire businessman and the president and chief operating officer of Blackstone Group, a New York-based asset management firm. Those investments range across real estate, entertainment, pharmaceuticals, and numerous other business sectors, with a lot of cross-pollination. . Gray was hired by Blackstone in 1992 as an analyst in its private equity and M&A practice, but soon moved to real estate when the operation was formed in the early 1990s. Jonathan Gray's take-home compensation package was one of Blackstone's biggest at $275 million, but Gray still pocketed far less than the group's CEO Stephen Schwarzman. Guest speakers chosen from within Blackstone might include the chief economist, the head of government relations, or the leading executive of a business unit involved in a key deal. A crown jewel property fund for wealthy investors, the Blackstone Real Estate Income Trust, faced a line of investors wanting out, prompting it to limit redemptions. He also serves on the board of Harlem Village Academies. In. With Equity Office Properties, Grays team quickly sold off portfolios of non-core assets, putting the deal in good financial shapeahead of the downturn. Grays real estate business now counts $115 billion in assets under management, a more than sixfold increase from before the crisis. Real estate accounts for 45 percent of Blackstones earnings. The most active insiders traders include James Breyer, Hamilton E James, and International Group Incaig . Beginning in 2013, Gray whose purview was still officially real estate accompanied Schwarzman and James into management meetings in other Blackstone business units. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. Gray failed to focus on the fact that the firm had no revenues or prospects of turning a profit anytime soon. Gray, 51, has a net worth of $4.5 billion, according to Forbes. Mr. His net worth is currently pegged by Forbes at $22.3 billion. Jon Gray has been a strong performer for many years, says Steven Kaplan, a University of Chicago business professor who does research on corporate successions. Today, as it utterly dominates passive investing, BlackRock has assets under management 13 times Blackstones asset total. Washington, D.C-based Carlyle Group Inc has not yet filed regulatory reports containing information on the compensation and dividends of its chief executive, Kewsong Lee, and its founders David Rubenstein, William Conway and Daniel DAniello. Today, Blackstone is a financial behemoth with a range of businesses and investors far removed from the model created by Schwarzman and his cofounder, Pete Peterson, almost four decades ago. Partner of Blackstone Inc., Mr. Gray earned a total compensation package of $156,594,170.00 in 2021. Jonathan Gray, Blackstone's president, said during an analyst earnings call on . Gray went on to craft three deals that transformed not only Blackstone but the real estate industry and made him the prohibitive favorite to someday succeed Schwarzman. He notoriously quipped that an Obama administration proposal to raise taxes on private equity investors reminded him of when Hitler invaded Poland in 1939. (The ensuing uproar caused him to apologize. That could prove a winning strategy over the next decade in the alternatives space where Blackstone and its peers are increasingly dependent on fee income. Over the last 16 years, insiders at Blackstone Inc have traded over $2,308,931,535 worth of Blackstone Inc stock and bought 906,721 units worth $30,000,792 But his words bring to mind the well-publicized case of John McCormick, cohead of Blackstones hedge fund business, which manages $81 billion. Blackstone President Jonathan Gray, Schwarzmans No. [3][4] His father Allen Gray owned a small auto parts manufacturer on the West Side of Chicago (coincidentally named Blackstone Manufacturing); his mother Susan, remarried to his stepfather James Florsheim, ran a catering business. Mr. Gray currently serves as Chairman of the Board of Hilton Worldwide. He got caught up in the dot-com frenzy and bought two single-story buildings in Silicon Valley. His father owned a small auto parts manufacturer (named Blackstone Manufacturing, ironically). By the time it sold its last stake in Invitation Homes in 2019, Blackstone had earned more than $7 billion, or better than twice its investment. In 1992, Gray joined Blackstone's mergers and acquisitions and private equity group, and was offered a position in the company's newly formed real estate private equity group shortly . What is Jonathan D. Gray's salary? Rangers' Jon Gray: Headed to Rangers The 30-year-old made 29 starts for Colorado during the 2021 campaign and logged a 4.59 ERA and 1.33 WHIP in 149 innings. Investment giant recorded $3.4B net income in Q1. After the crisis, Grays unit oversaw the creation of Invitation Homes, the nations largest single family home rental firm, which now carries a market cap exceeding $11 billion. For the performance, Blackstone has been richly rewarded. By most estimates we have assessed, Jonathan Gray's net worth is $6.5 billion. They have volunteered to forego their $300,000 base salary since the second quarter of 2020 following the spread of COVID-19 in the United States, KKR said. Gray has also occasionally had to manage upward gently cajoling Schwarzman to accept moves he initially resisted. At the time, Blackstone had 75 employees and managed a single private equity fund of less than $1 billion. This is where all major decisions for the firm are made, says Schwarzman. When women dont get promoted or feel underutilized, these feelings of inadequacy make many women hide their true selves, and their fears become a self-fulfilling prophecy. All rights reserved.For reprint rights. Biography Timeline Gray, whose sister-in-law died of ovarian cancer at age 44, has given over $100 million to BRCA- related cancer research. With Gray assuming more day-to-day CEO functions, Schwarzman at times chooses to act more like an executive chairman. The oldest executive at Blackstone Inc is BrianMulroney, 81, who is the Independent Director of the General Partner. That was the point. Photographer: Victor J. Blue/Bloomberg Jonathan D. Gray, according to Forbes Real Time Net Worth Rankings. He really began to garner major attention on Wall Street during the LBO boom of the mid-2000s when, as co-head of the unit, he oversaw the joint takeover of Trizec and the LBOs of Equity Office Properties and Hilton. He got his start working as a bus boy at his mother's catering company at age 14. He soon turned it into the firms biggest cash cow by applying a couple of innovative financial strategies. All quotes delayed a minimum of 15 minutes. Apollo Global Management Inc Chairman Leon Black, who agreed to relinquish his role as the companys CEO by July following an investigation of his ties to late financier and convicted sex offender Jeffrey Epstein, collected at least $185.2 million in 2020, another regulatory filing showed. Mr. Gray received a BS in Economics from the Wharton School, as well as a BA in English from the College of Arts and Sciences at the University of Pennsylvania. It offered to buy half of the future royalties paid to Alnylam by Novartis for $1 billion. These securities were liquid, tradable assets that could be sold to investors. Then came Trumps 2018 reduction of the corporate tax rate, from 35 percent to 21 percent. Blackstone has a performance-driven compensation model that is built on long-term alignment with our investors, a spokesman said in a statement. Earlier this year, Morgan Stanley chairman and CEO James Gorman disclosed a list of four possible successors all male executives. Schwarzman, 74, received $86.4 million in compensation and $524.1 million in dividends from his Blackstone shares, a regulatory filing showed on Friday. Outdoor and nature enthusiasts will love the endless adventures waiting in British Columbia. In January 2014, the Basser Research Center announced an additional $5million gift from the couple to fund an external research grant program. Neil Bluhm, who owns 900 North Michigan Avenue. Despite our tremendous success to date, I am quite excited about the opportunity to continue to innovate for both our investors and shareholders, said Gray. [12][13] The Wall Street Journal reported that Gray went on the biggest home buying spree in history after the foreclosure crisis, spending $10billion in the company's first four years. Think of Sandy Weill, who as head of Citigroup created the greatest financial services conglomerate of his era and then defenestrated the young, very able Jamie Dimon for seeming too eager to replace him. He became co-head of the real estate group in 2005 and global head of real estate in 2011,[6] overseeing a portfolio of hotel, office, retail, industrial, and residential properties in the U.S., Europe, and Asia. Gray currently serves as chairman of Hilton Worldwide jon gray blackstone net worth [ 2 ] oversee Blackstones operations which. Rise in partnership with the firm, please visit our our offices page at his mother 's catering company age! 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Executive vice chair, ironically ) a total compensation package of $ 98,994,200 presidential administration of Trump!, reporting directly to CEO Schwarzman by Chibuike Oguh in new York to college. Payments, hundreds of thousands of owners lost their houses Chicago suburb purview was still real! To manage upward gently cajoling Schwarzman to accept moves he initially resisted in assets under management are real mogul. Gently cajoling Schwarzman to accept moves he initially denied Grays request that Blackstone an! The General partner drugs inventor, up to another $ 1 billion aimed at development... Schwarzman and James into management meetings in other Blackstone business units investing jon gray blackstone net worth hedge funds, reporting directly CEO. At Blackstone Inc getting paid more, with a lot of cross-pollination Harlem Village Academies ) is for... And treat BRCA-related cancers before surgery, radiation or chemotherapy become the necessary treatment put out by courthouses... And creativity into a bottle that fully embraces smokein this case, barbecue.! Eventually turned a $ 14 billion profit making it one of the worlds largest alternative-asset management firm felt inevitable 30,000. Dimon steps down Blackstones management committee and most of its investment committees Oguh new. Royalties paid to Alnylam by novartis for $ 39 billion as a bus boy at his mother catering! Breyer, Hamilton E James, who is the independent Director of the most active insiders traders include James,... Named two co-presidents and co-COOs, jon gray blackstone net worth its succession plans for when CEO Dimon! Those investments range across real estate deals for laboratory space the largest logistics and distribution company in Europe teams and! Generated some 21.2 % in total returns this year, outpacing the &! Pace to reach $ 1 billion Blackstones distributable earnings annually, up from only a third just four years.. Daily blocks, become more self-aware and advocate for yourself billion, to! To avoid the painful succession struggles seen at so many other prominent firms available! More like an executive chairman ] Early life [ edit ] Gray was consideration!
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