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Blackstone Exec Becomes Billionaire

Aug 15, 2013
Jing Chen

The senior executive responsible for running Blackstone Group’s real estate unit is the latest billionaire to emerge from the firm.

Bloomberg reported that Jonathan Gray, who owns 40.6 million shares in Blackstone worth $913 million, also received over $120 million in bonuses since he joined the firm in 1992.

Blackstone, which invests in private equity and hedge funds, surged an overwhelming 40% this year after it sold its assets and returned money back to shareholders.

The article also said that Gray is the fourth billionaire to come out of Blackstone.

Blackstone, the world's largest alternative asset management firm, recently made headlines when it was announced that it has teamed up with Fidelity partner to offer hedge fund investments to retail clients.





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