Tuesday, 2 June 2015
Last updated 3 hours ago
Aug 15 2013 | 12:35pm ET
The Blackstone Group has created another billionaire.
Jonathan Gray, the 43-year-old head of the firm's real-estate business, has become the fourth Blackstone executive to hit 10 figures. Gray, who joined Blackstone's board of directors last year and who is widely seen as a potential successor to CEO Stephen Schwarzman, owns $913 million worth of Blackstone stock, and has earned more than $120 million in bonuses, carried interest and dividends over the past two years, Bloomberg News reports.
Blackstone's shares have soared 40% this year. Gray leads the firm's largest unit; the real-estate division now boasts $64 billion in assets.
Gray was preceded into billionairehood by Schwarzman and co-founder Peter Peterson, who left the firm in 2008, as well as President Hamilton James.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…