Thursday, 24 July 2014
Last updated 16 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…