Early Life and Education
Jonathan Gray was born on February 4, 1970, in Highland Park, Illinois, to a Jewish family. His father owned a small auto parts manufacturer, and his mother ran a catering business. Gray graduated magna cum laude from the University of Pennsylvania in 1992 with a B.A. in English from the School of Arts & Sciences and a B.S. from the Wharton School. He was elected to Phi Beta Kappa.
Rise to Success
Gray began his career at Blackstone in 1992 in mergers and acquisitions and private equity. He became co-head of the real estate group in 2005 and global head of real estate in 2011. Under his leadership, Blackstone's real estate division became one of its most valuable branches. He orchestrated the $26 billion buyout of Hilton Hotels in 2007, which became the most profitable private equity real estate deal ever, earning $14 billion for the firm's investors. He was named President and COO of Blackstone in 2018.
Key Business Strategies
Gray has emphasized a thematic approach to investing across Blackstone's businesses to drive performance. He led efforts to expand Blackstone's client base, including insurers and individual investors. Under Gray, Blackstone reached $1 trillion in assets under management and joined the S&P 500.
Philanthropy
Gray and his wife, Mindy, founded the Basser Research Center at the University of Pennsylvania School of Medicine in 2012, focused on BRCA-related cancers. They have donated over $150 million to BRCA cancer research. The Grays also established numerous programs for low-income children in New York, including NYC Kids RISE, a college savings initiative.
