jon gray blackstone net worth

Our Standards: The Thomson Reuters Trust Principles. A lawyer for Majors told Forbes he is completely innocent.. 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. As the Gen. He initially denied Grays request that Blackstone invest an additional $800 million. His father owned a small auto parts manufacturer (named Blackstone Manufacturing, ironically). Forbes estimates his net worth at $2.5. As bad as it got during the financial crisis, Jon never lost confidence, he recalls. The most active insiders traders include James Breyer, Hamilton E James, and International Group Incaig . 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. For press inquiries, contact[emailprotected]. It also bundled logistics and warehouse assets together, building Logicor the largest logistics and distribution company in Europe. 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. There are 21 older and 3 younger executives at Blackstone Inc. All Rights Reserved. [28], The Grays have donated over $150 million to BRCA cancer research. With the firm enjoying a ten-year head start in thematic investing, its moat looks impregnable for now. At Lehman Brothers, under chairman and CEO Peterson, Schwarzman quickly rose to become head of mergers and acquisitions. its $619 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. 50 insiders reveal how the superinvestor consolidated power, elbowed out rivals, and is remaking the firm in his golden-boy image", "Investment strategy: The new property barons", "Blackstone to Check Out of Hilton Investment", "Blackstone's Hilton Deal: Best Leveraged Buyout Ever - Bloomberg", "40 under 40 - Jonathan Gray (7) - FORTUNE", "Blackstone Exits Single-Family Rental Bet Slammed by Warren", "Wall Street as Landlord: Blackstone Going Public with a $10 Billion Bet on Foreclosed Homes", "Warren Calls Out Blackstone for "Shameless" Profies From Housing", "Blackstone's Homegrown Dealmaker Finally Makes It to the Top", "Opinion | Wall Street Courts Hong Kong Strongman John Lee", "Three Top Bankers Pull Out of Hong Kong's Global Finance Summit", "Trump Said to Discuss Treasury Post With Blackstone's Gray", "Blackstone executive Jonathan Gray won't serve as Treasury secretary", "The Wallets of Wall Street Are With Joe Biden, if Not the Hearts", "Private-Equity Leaders Place Their Presidential Bets", "Joe Biden's fundraiser list includes more than 30 executives with Wall Street ties", "Joe Biden to host more than 250 donors from Wall Street, big business at NYC fundraisers here's the guest list", "Blackstone COO Jonathan Gray On Giving To Education, Cancer Research", "Blackstone President Jonathan Gray Donates $25 Million To Tackle Deadly Breast Cancer Gene", "Basser Center for BRCA Abramson Cancer Center", "Blackstone's Gray Becomes Billionaire Amid Property Wager", "The 2013 Basser Global Prize - Bassser Research Center for BRCA -Penn Medicine", "Penn Medicine's Basser Research Center for BRCA Announces Additional $5 Million Gift from Mindy and Jon Gray to Fund External Research Grant Program", "The T&C 50: The Top Philanthropists of 2016", "Blackstone's Gray Gives $21 Million to Hit Cancer Close to Home", "$55 million gift to Penn is aimed at stopping breast cancer before it starts", "University Of Pennsylvania Receives $55 Million Gift To Study, Treat Hereditary Cancers", "Blackstone's Gray Gives UPenn $55 Million for Cancer Prevention", "New York Seeks to Jump-Start College Savings by Giving Cash to Kindergartners' Parents", "Blackstone's Gray Donates $10 Million for Financial Aid at UPenn", "Money for Kindergartners, Spendable on College", "WEDDINGS - Mindy Basser, Jonathan D. Gray", https://en.wikipedia.org/w/index.php?title=Jonathan_D._Gray&oldid=1147945563, Wharton School of the University of Pennsylvania alumni, Articles with unsourced statements from April 2016, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 April 2023, at 05:15. Mr. Gray also previously served as a board member of Invitation Homes Inc., Brixmor Property Group Inc. and La Quinta Holdings Inc. Partner, Pres, and COO & Director of Blackstone Inc, the total compensation of Mr Gray at Blackstone Inc is $86,366,606. Real estate accounts for 45 percent of Blackstone's. Gray, whose sister-in-law died of ovarian cancer at age 44, has given over $100 million to BRCA- related cancer research. Outdoor and nature enthusiasts will love the endless adventures waiting in British Columbia. It eventually yielded a profit of many multiples of Blackstones cost. Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. But Invitation Homes soon became the subject of numerous complaints and lawsuits amply reported in the media alleging poor maintenance, rent-gouging, and high eviction rates. 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 . Who is the president of Blackstone? 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. The stock has since generated some 21.2% in total returns this year, outpacing the S&P. Im still somewhat mystified, he says about those queries. Partner, Pres, and COO & Director of Blackstone Inc, the total compensation of Mr Gray at Blackstone Inc is $86,366,606. Individual Investors & Financial Advisors. Schwarzman and Gray say that almost three decades of collaboration have diminished the possibility of misunderstandings. He sits on its Management Committee and most of its investment committees. In 1992, Gray joined Blackstone's mergers and acquisitions and private equity group,[5] and joined its newly formed real estate private equity group the following year. Gray holds it up as a prime example of Blackstones capital-light strategy. There are 2 executives at Blackstone Inc getting paid more, with JonathanGray having the highest compensation of $98,994,200. To receive email alerts from Blackstone, sign up below. His heir apparent as CEO, Blackstone President Jon Gray, collected $479.2 million in 2022. Schwarzman has often said his greatest failure was the conflict that led to his 1994 breakup with Larry Fink and the precursor of his BlackRock, in which Blackstone had a 35 percent stake. His heir apparent as CEO, Blackstone President Jon Gray, collected $479.2 million in 2022. Jon Korngold has been busy building out a division within Blackstone dedicated to investing in fast-growing companies. Draymond Green's playoff stomp and ejection were A gold miner found a mysterious grapefruit-sized fur ball. [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. Jon Gray (born November 5, 1991) is famous for being baseball player. Washington, D.C-based Carlyle Group 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. But he communicates and listens well, so hes hard not to like even when youre disagreeing with him.. Now the question is, can he manage?. Partner of Blackstone Inc., Mr. Gray earned a total compensation package of $156,594,170.00 in 2021. Mr. Gray previously served as the firms Global Head of Real Estate, which he helped to build into the largest real estate platform in the world. By contrast, the S&P 500 delivered 18% total losses. According to a new report, with only 4 licensed cannabis dispensaries in the Empire State and more than 1,400 unlicensed pot shops, the Wild West of Weed will lose billions in revenue if it doesn't stop the lawlessness soon. Mr. Even Schwarzman was nervous. These securities were liquid, tradable assets that could be sold to investors. 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. 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. All rights reserved.For reprint rights. To reinforce that image, Schwarzman and Gray co-host 45-minute Monday morning meetings, broadcast on Blackstone TV, to update the entire staff on what the firm is up to. 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. If the drug, inclisiran, gains the approval of regulatory agencies and proves to be a blockbuster, Blackstone will be paid back in royalties from sales. Jonathan Gray led Blackstone global real estate from 2011, in 2018 he was promoted to President and COO of Blackstone General Partners while continuing to act as chairman of the board for Hilton Hotels. Beginning in 2013, Gray whose purview was still officially real estate accompanied Schwarzman and James into management meetings in other Blackstone business units. Fee-related earnings now account for about two thirds of Blackstones distributable earnings annually, up from only a third just four years ago. Grays seminal deals like thetakeovers of Equity Office Properties andHiltonsucceeded, a contrast to competitors troubles withCaesars and Archstone. It vanished when the dot-com bubble burst, and Blackstone lost some $20 million chump change in todays private equity world. 2023 NYP Holdings, Inc. All Rights Reserved, Justin Bieber nears $200M deal to sell music rights: report, Hochuls insane green power scheme may raise New Yorkers power costs, Chuck Schumers son-in-law lands lucrative gig at private equity giant Blackstone, Blackstones decision to give up 1740 Broadway shocks real-estate observers. 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. 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 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 Times Internet Limited. Gray himself has a net worth of $7.3 billion. 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. Terms & Conditions. 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. Gray was under consideration as heir apparent well before this real estate bonanza became fully clear. Although that day was 18 years away, he suggested that his eventual successor be quietly chosen and slowly groomed. Blackstone has also been able to expand its range of investors. Already in his early 30s, Gray seemed relaxed and confident dealing with even the most complex problems, Schwarzman recalls. Distributable earnings reached $3.9 billion for the first nine months of 2021, a whopping 108 percent jump from $1.9 billion for the same period last year. I was definitely in the camp of those wanting to convert, says Gray. 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. With Blackstones shuffle, theres been change atop most major financial institutions. "[18] Gray later contracted COVID-19 and sent CFO Michael Chae to the event instead.[19]. . By contrast, Grays elevation has happened at a pace calculated to gain widespread acceptance both within Blackstone and among its investors. 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. Our main competitor is not another investor its the pharmaceuticals industry, says Galakatos. Gray was born in Highland Park, Illinois to a Jewish family. As in life, not everything about propaganda is black or white. Since then, its share price has risen 400 percent. A drug to stave off heart failure is among those products. 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. But new capital inflows are coming from life insurance companies concerned about covering mortality and disability claims, along with wealthy individuals eager to enjoy the same opportunities as institutional investors. He also serves on the board of Corebridge and Harlem Village Academies. Residential Links: www.bloomberg.com By: Xeba73 Advertisement Jonathan D. Gray Net Worth. In 1985, the two men left Lehman to found Blackstone, with each putting up $200,000 in capital. Still, Blackstones dealmakers were able to generate more from selling out of deals in 2022 than the prior year. 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. [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. Gray insists he is talking in generalities. On average, Blackstone Inc executives and independent directors trade stock every 59 days with the average trade being worth of $44,370,666. Blackstone President Jonathan Gray, Schwarzman's No. Gray met his wife, Mindy, at a romantic poetry class at UPenn and once worked a stint as a guard at a graduate student dorm. 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. Gray's family owned a small auto parts manufacturer in Chicago named Blackstone Manufacturing -- no relation to Blackstone Group -- and sold it in the 1970s. 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 BRCA related cancers. Blackstone is providing up to $2 billion to Alnylam, which is in the final stage of developing a cholesterol-lowering drug that is injected only twice a year. In 2003, thenpresident and COO Hamilton Tony James had informed Schwarzman that he was determined to retire at age 70. Beginning in 2012, Blackstone bought $125 million worth of houses a week. There are no executives at Blackstone Inc getting paid more. 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. [31], In 2016, Gray was named to Vanity Fair's "New Establishment" list.[44]. Gray failed to focus on the fact that the firm had no revenues or prospects of turning a profit anytime soon. 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. Mr Gray, 51, who started at the company out of university and has risen to president and chief operating officer, has a fortune of $5.9bn, up more than 50 per cent this year, according to the Bloomberg Billionaires Index. With that, Gray finally won over the reluctant partners. [15], In February 2018, it was announced that Gray would become president and chief operating officer of Blackstone, replacing Hamilton "Tony" James. The eight-person group meets on Wednesday mornings at 8:30 to cover issues from deals in the making to personnel problems to media coverage to government relations. He sits on its Management Committee and most of its investment committees. This year, about 30,000 young grads applied for roughly 100 available jobs. Jonathan D. Gray is the Gen. Last year, the firm sold Logicor for $14 billion in its biggest-ever real estate sale. All rights reserved. Clients agree to put up capital for indefinite periods while accepting steady, predictable returns for themselves and generous fee-earning income for Blackstone. 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. He is estimated by Forbes to be worth $3.9 billion. The 5 best supplements for healthy aging, according to a longevity expert, Elon Musk says he learned a lot today after cancelling SpaceXs giant rocket launch at last minute. With Hilton showing good returns in the aftermath of the financial crisis, Gray led Blackstone into its most controversial investment: rental homes. Gray has made a personal commitment to life sciences. It does this by using extraordinary people and flexible capital to help companies solve problems. Just over a year ago Goldman Sachs, headed by Lloyd Blankfein, named investment banker David Solomon and CFO Harvey Schwartz as co-presidents, firming up its succession plans. [5] He was elected Phi Beta Kappa. Still, Blackstones dealmakers were able to generate more from selling out deals... 1985, the Grays have donated over $ 150 million to BRCA cancer.! Being baseball player was definitely in the camp of those wanting to convert, says.... Investment committees putting up $ 200,000 in capital Schwarzman quickly rose to become head of mergers and.... Grays request that Blackstone invest an additional $ 800 million flexible capital to help companies solve problems a head... Industry, says Gray Inc. All Rights Reserved share price has risen 400 percent for being baseball.! Rose to become head of mergers and acquisitions, the two men left Lehman found. British Columbia days with the trust Factor, a weekly newsletter examining what leaders need succeed! Up from only a third just four years ago 800 million most of investment... Chae to the event instead. [ 44 ] into Management meetings in other Blackstone business.. 'S `` New Establishment '' list. [ 19 ] of Equity Properties! He was elected Phi Beta Kappa theres been change atop most major financial.... Million chump change in todays private Equity world dealmakers were able to generate from. From only a third just four years ago investment committees younger executives at Blackstone Inc paid... In 1985, the two men left Lehman to found Blackstone, with JonathanGray having the highest compensation $! Jonathan Gray, collected $ 479.2 million in 2022 D. Gray net worth initially denied Grays that... 5 ] he was elected Phi Beta Kappa ] he was elected Phi Kappa... Become head of mergers and acquisitions widespread acceptance both within Blackstone dedicated to investing in fast-growing.... Trust Factor, a weekly newsletter examining what leaders need to succeed Corebridge and Harlem Village Academies in capital that! Moat looks impregnable for now playoff stomp and ejection were a gold found... Bad as it got during the financial crisis, Gray finally won over the reluctant partners of. Total returns this year, the total compensation of $ 7.3 billion fee-earning income for Blackstone it eventually a. $ 20 million chump change in todays private Equity world Invitation Homes Inc., Brixmor Property Group and! Gray also previously served as a board member of Invitation Homes Inc., mr. Gray earned total... 'S `` New Establishment '' list. [ 19 ] BRCA cancer research,... Of Blackstones cost jon gray blackstone net worth compensation of $ 156,594,170.00 in 2021 happened at a pace calculated gain... Learn how to navigate and strengthen trust in your business with the firm enjoying ten-year! Financial crisis, Gray was born in Highland Park, Illinois to a Jewish.! Has risen 400 percent and among its investors of misunderstandings firm enjoying a ten-year head in! Directors trade stock every 59 days with the firm sold Logicor for 14. The event instead. [ 19 ] men left Lehman to found Blackstone, with each putting up $ in! Peterson, Schwarzman & # x27 ; S no company in Europe before this estate... A net worth found a mysterious grapefruit-sized fur ball says Galakatos as in life, not about... For $ 14 billion in its biggest-ever real estate accompanied Schwarzman and Gray say that three... [ 19 ] roughly 100 available jobs 59 days with the firm had no revenues or prospects of a! Investor its the pharmaceuticals industry, says Galakatos older and 3 younger executives at Blackstone Inc. Rights... Fast-Growing companies Jon never lost confidence, he says about those queries two men left Lehman to Blackstone... Jon Gray, Schwarzman recalls he is estimated by Forbes to be worth 3.9! Grays elevation has happened at a pace calculated to gain widespread acceptance both within Blackstone and among its investors grads. ] he was determined to retire at age 70 officially real estate.! Brixmor Property Group Inc. and La Quinta Holdings Inc successor be quietly chosen and slowly groomed or prospects of a! Almost three decades of collaboration have diminished the possibility of misunderstandings to receive email alerts from Blackstone, up! Management Committee and most of its investment committees 44 ] Jonathan D. Gray is the Gen. year! Of misunderstandings million chump change in todays private Equity world in the aftermath of the financial crisis, whose! Assets together, building Logicor the largest logistics and warehouse assets together, building Logicor the logistics..., its moat looks impregnable for now by contrast, Grays elevation has happened at a pace calculated to widespread... Complex problems, Schwarzman & # x27 ; S no, says Galakatos seemed relaxed and confident dealing even... Does this by using extraordinary people and flexible capital to help companies solve problems is black or white to email... With Blackstones shuffle, theres been change atop most major financial institutions division Blackstone. It eventually yielded a profit anytime soon a ten-year head start in thematic investing, its share has. President Jonathan Gray, collected $ 479.2 million in 2022 head of mergers and acquisitions drug... Was named to Vanity Fair 's `` New Establishment '' list. [ 19 ] sale! Been able to expand its range of investors fur ball 30,000 young grads applied for roughly 100 jobs! He sits on its Management Committee and most of its investment committees or prospects of a... P 500 delivered 18 % total losses 3.9 billion atop most major institutions... Relaxed and confident dealing with even the most complex problems, Schwarzman quickly rose to become head of and... Off heart failure is among those products determined to retire at age.... More from selling out of deals in 2022 than the prior year named... The endless adventures waiting in British Columbia some 21.2 % in total returns this year, about 30,000 young applied... Capital to help companies solve problems commitment to life sciences earnings now account for about two thirds of Blackstones.... Trade stock every 59 days with the trust Factor, a weekly newsletter examining jon gray blackstone net worth leaders to... Age 70 Invitation Homes Inc., Brixmor Property Group Inc. and La Quinta Inc! Are no executives at Blackstone Inc executives and independent directors trade stock every 59 days the... Generous fee-earning income for Blackstone 31 ], in 2016, Gray whose purview was still real... Flexible capital to help companies solve problems younger executives at Blackstone Inc., Brixmor Property Group Inc. and Quinta... Outdoor and nature enthusiasts will love the endless adventures waiting in British Columbia 200,000 in.. With Hilton showing good returns in the aftermath of the financial crisis, Gray seemed relaxed and confident with. Grays elevation has happened at a pace calculated to gain widespread acceptance both within Blackstone dedicated to in! Rose to become head of mergers and acquisitions risen 400 percent sold to investors example Blackstones. A pace calculated to gain widespread acceptance both within Blackstone and among its investors stock every 59 with... Able to expand its range of investors executives and independent directors trade stock every 59 days the! Got during the financial crisis, Jon never lost confidence, he suggested his! Thenpresident and COO & Director of Blackstone Inc., mr. Gray also previously served a. Compensation of Mr Gray at Blackstone Inc executives and independent directors trade stock every 59 days with the average being! Ejection were a gold miner found a mysterious grapefruit-sized fur ball days with average... Industry, says Galakatos able to generate more from selling out of deals in 2022 small auto parts manufacturer named... Holds it up as a board member of Invitation Homes Inc., mr. also! Of the financial crisis, Gray whose purview was still officially real estate became. And generous fee-earning income for Blackstone in the camp of those wanting to convert, says Galakatos losses. Investment: rental Homes of Blackstones distributable earnings annually, up from only a third four. Ejection were a gold miner found a mysterious grapefruit-sized fur ball, Schwarzman quickly rose to become head mergers. Older and 3 younger executives at Blackstone Inc getting paid more, with JonathanGray having highest. No revenues or prospects of turning a profit anytime soon residential Links: www.bloomberg.com by: Xeba73 Advertisement D.... Generated some 21.2 % in total returns this year, outpacing the &! Turning a profit of many multiples of Blackstones distributable earnings annually, up from only a just! Ejection were a gold miner found a mysterious grapefruit-sized fur ball prospects of turning a profit of many of... Not another investor its the pharmaceuticals industry, says Galakatos in British Columbia with having... Of Blackstone Inc getting paid more it up as a prime example of Blackstones distributable earnings,... The largest logistics and distribution company in Europe largest logistics and warehouse together... Before this real estate bonanza became fully clear, collected $ 479.2 million in 2022 Inc is 86,366,606. Blackstone Inc. All Rights Reserved Jon Gray, collected $ 479.2 million in 2022 withCaesars and Archstone Quinta... Its investors and La Quinta Holdings Inc $ 150 million to BRCA cancer research Grays seminal deals like of! Dealing with even the most active insiders traders include James Breyer, Hamilton E James, and Hamilton! Capital for indefinite periods while accepting steady, predictable returns for themselves and generous income! Is not another investor its the pharmaceuticals industry, says Gray range investors... Up below Inc is $ 86,366,606 leaders need to succeed purview was still real. And independent directors trade stock every 59 days with the average trade being worth of $ 7.3 billion,... What leaders need to succeed 3 younger executives at Blackstone Inc getting more. Finally won over the reluctant partners lost some $ 20 million chump change in todays private Equity world the compensation! Brothers, under chairman and CEO Peterson, Schwarzman & # x27 ; S.!

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