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.
Rise to Success
Gray joined Blackstone in 1992 in the mergers and acquisitions and private equity group. He played a key role in building Blackstone's real estate business, eventually becoming its global head. He oversaw a portfolio of hotel, office, retail, industrial, and residential properties in the U.S., Europe, and Asia. Gray led Blackstone's leveraged buyout (LBO) of Hilton Hotels, earning significant returns for the firm's investors.
Key Business Strategies
Under Gray's leadership, Blackstone has expanded its client base and emphasized a thematic approach to investing, capitalizing on trends like e-commerce and the energy transition. In 2018, he became President and Chief Operating Officer, overseeing the firm's global operations and helping to shape its strategic direction. Blackstone became the first alternative asset manager to reach $1 trillion in assets under management and joined the S&P 500 under his leadership.
Philanthropy
Gray, through the Gray Foundation, has made significant philanthropic contributions, including $245 million as of 2025. His primary focus has been on cancer research, particularly BRCA-related cancers, and increasing access to education and healthcare for low-income youth in New York City. In May 2025, he and his wife announced a $125 million donation to Tel Aviv University's Faculty of Medicine.