Outdoor and nature enthusiasts will love the endless adventures waiting in British Columbia. Gray, 51, has a net worth of $4.5 billion, according to Forbes. Its still early days in those markets, with a huge amount of runway ahead, notes Blackstone CFO Michael Chae. (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. . But he communicates and listens well, so hes hard not to like even when youre disagreeing with him.. FORTUNE may receive compensation for some links to products and services on this website. Individual Investors & Financial Advisors. [5] In 1992, Gray graduated from the University of Pennsylvania magna cum laude with a B.A. Partner, Pres, and COO & Director of Blackstone Inc since . Many bank CEOs took pay cuts in a tough year for financial markets. With spending on travel plummeting, analysts wrote off the $26 billion acquisition as a disaster. It vanished when the dot-com bubble burst, and Blackstone lost some $20 million chump change in todays private equity world. The bottled Grey Goose Classic Martini Cocktail features just three ingredients: Grey Goose vodka, dry French vermouth, and a dash of orange bitters. Eventually, it owned more than 50,000 homes, making it the largest residential property owner in the U.S. 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. 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. 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. Blackstone Group 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 percent from last year despite the impact of the COVID-19 pandemic, regulatory filings showed. But were not resting on our laurels.. Today the portfolio has grown to $230 billion. 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. Jonathan's mailing address filed with the SEC is C/O BLACKSTONE INC., 345 PARK AVENUE, NEW YORK, NY, 10154 . Blackstones involvement in the sector began in 2015 when the firm bought BioMed Realty, an owner of buildings catering to life sciences firms. A drug to stave off heart failure is among those products. Investment giant recorded $3.4B net income in Q1. Blackstone insists it has little to fear from rival asset managers in replicating the Alnylam model with other drug companies. 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. Blackstone is one of the worlds leading investment firms. Related by financial asset: Blackstone Group. 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. Last year, the firm sold Logicor for $14 billion in its biggest-ever real estate sale. 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 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. Three years later, Blackstone acquired Claris, an investment firm that financed medical products. 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. 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. Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. 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. Jonathan Gray is 50, he's been the President, Chief Operating Officer, and Director of the General Partner of Blackstone Inc since 2018. 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. Otherbig recent deals include the $18 billion acquisition of GEs real estate assets and the purchase of Stuyvesant Town / Peter Cooper Village, an 80 acre property with 11,200 units in Manhattan. The idea behind it is to invest heavily in a promising sector rather than seek out individual acquisitions. 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. Then there is the case of Blackstone Inc., the worlds largest private equity and alternative-asset management firm. There are teams, and if a leader succeeds, their team comes in and the other teams get squashed.. The first strong signal was Grays appointment to Blackstones management committee in 2006. 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 Blackstone has also been able to expand its range of investors. 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Blackstone's Jon Gray (Getty) Blackstone Group's president and COO Jon Gray thinks . 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 firm delivered record distributable earnings and realized some of its most profitable fund investments last year, he said. 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. Although that day was 18 years away, he suggested that his eventual successor be quietly chosen and slowly groomed. But it kept those considered to be trophy buildings and thus less vulnerable to recession. Stone. This column explores the idea of the Neurodivergent Way and the value it poses to build a more impactful digital economy. The firm cranked out more fee-related earnings as assets under management reached just shy of $1 trillion. Partner, Pres, and COO & Director of Blackstone Inc, the total compensation of Mr Gray at Blackstone Inc is $86,366,606. Novartis projects annual sales of as much as $10 billion, as the drug lowers cholesterol dramatically and obviates the need for daily statin pills. Jon Korngold has been busy building out a division within Blackstone dedicated to investing in fast-growing companies. 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. The only time Gray ever lost money on a deal was back in 2000. 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. The great success of Blackstones real estate foray has meant Wall Street believes Gray, whos spent 26 years at the firm after being hired out of University of Pennsylvania,will one day take its reins. Jonathan Gray's House in Sagaponack, NY (Google Maps) Jonathan Gray's House Sagaponack, New York (NY), US Like Tweet Share Pin Gray runs Blackstone's real estate business and is the latest billionaire to emerge from the world's largest manager of private equity and property. In 2003, thenpresident and COO Hamilton Tony James had informed Schwarzman that he was determined to retire at age 70. [27], In February 2023, the Grays were named to The Chronicle of Philanthropys list of the 50 biggest donors in 2022. [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. His heir apparent as CEO, Blackstone President Jon Gray, collected $479.2 million in 2022. 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