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Blackstone was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman with US$400,000 (equivalent to $1.1 million in 2023) in seed capital. [3]: 45–56 [4] The founders named their firm "Blackstone" using a cryptogram derived from their names: "Schwarz" is German for "black"; "Peter", "Petros" or "Petra" (Πέτρος and πετρα, the masculine and feminine rendering of the word ...
In 1992, Gray joined Blackstone's mergers and acquisitions and private equity group, [6] and joined its newly formed real estate private equity group the following year. He became co-head of the real estate group in 2005 and global head of real estate in 2011, [7] overseeing a portfolio of hotel, office, retail, industrial, and residential properties in the U.S., Europe, and Asia.
According to Bloomberg Billionaires Index, he had a net worth of $32 billion as of October 2022. [47] According to Forbes, Schwarzman has a net worth of $39 billion, as of April 2024. [2] In 2014, Schwarzman was named as one of Bloomberg's 50 Most Influential people of the year. [48]
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As of 2020, over half of the members of Congress were millionaires and the median net worth of members was approximately $1 million. [4] The original documents for each member's disclosure are publicly available on database websites. [5] Since 2009, the salaries per annum of members of the United States Congress have been as follows: [6]
In the same year, Peterson became chairman of the Council on Foreign Relations, a position he held until his retirement in 2007, after which he was named chairman emeritus. [4] In 2008, Peterson was ranked 149th on the " Forbes 400 Richest Americans" with a net worth of $2.8 billion.
Blackstone employees, like most Wall Street staffers, are back in the office. For many at BX, the day starts between 8:30 a.m. and 9 a.m. each morning and finishes whenever the work is done.
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