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Grizzly Bulls’ Billionaires Index

⬅ # 879 Bobby Murphy|# 881 Barry Sternlicht ➡

# 880 Zhang Xuexin 

$3.66B

Real Time Net Worth
as of 7/2/2024
-$108 (-0.00%)

# 880 Zhang Xuexin 

$3.66B

Real Time Net Worth
as of 7/2/2024
-$108 (-0.00%)
OccupationPresident and COO, Blackstone
Source of WealthAluminum
Age77
ResidenceLiaocheng, China
Marital StatusMarried
Age-Adjusted Net Worth$1.16B
Zhang Xuexin
Zhang Xuexin
China
Net worth: $3.66B

Wealth History

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Biography

Early Life

Jonathan D. Gray was born on February 4, 1970, in Highland Park, Illinois, to Allen Gray and Susan Florsheim.
His father owned a small auto parts manufacturing company named Blackstone Manufacturing, and his mother ran a catering business.
Gray graduated magna cum laude from the University of Pennsylvania in 1992 with dual degrees: a B.A. in English from the School of Arts & Sciences and a B.S. from the Wharton School.
At the age of 14, Gray began working as a busboy at his mother's catering company, gaining early exposure to the world of business.
He was elected to Phi Beta Kappa during his time at the University of Pennsylvania.
Gray's parents divorced when he was young, and his mother remarried James Florsheim.

Career

In 1992, Gray joined Blackstone Group's mergers and acquisitions and private equity group, later transitioning to its real estate private equity group in 1993.
He ascended through the ranks, becoming co-head of the real estate group in 2005 and global head of real estate in 2011.
Under Gray's leadership, Blackstone's real estate division flourished, managing a portfolio of diverse properties across the U.S., Europe, and Asia, totaling $332 billion in investor capital.
Gray orchestrated the landmark $26 billion leveraged buyout of Hilton Hotels in 2007, subsequently overseeing its successful IPO in 2013, marking one of the largest ever for a hotel company.
He spearheaded the creation of Invitation Homes, a venture focused on acquiring and renting foreclosed single-family homes, addressing a need in the market after the 2008 housing crisis.
Recognized for his achievements, Gray has been featured in Fortune's '40 under 40' list and ranked first on Commercial Observer's 'Power 100' in New York City real estate.

Philanthropy

Jonathan Gray and his wife, Mindy Gray, established the Gray Foundation in 2014, focusing on cancer research related to inherited BRCA mutations and supporting education and healthcare access for low-income youth in New York City.
The couple has donated over $150 million to BRCA cancer research, with significant contributions to the Basser Research Center at the University of Pennsylvania.
They founded the Basser Global Prize to honor groundbreaking cancer research and have continued to support initiatives aimed at preventing, treating, and researching BRCA-related cancers.
In addition to cancer research, the Grays have made substantial donations to various educational programs, including funding college savings accounts for kindergarten students in New York City public schools and supporting first-generation, low-income students attending the University of Pennsylvania.
Their philanthropic efforts have been recognized by Forbes, The Chronicle of Philanthropy, and Town & Country magazine.
Gray has also been active in political philanthropy, notably supporting Democratic candidates in various elections, including backing Hillary Clinton in 2016 and contributing to the Joe Biden 2024 presidential campaign.

Personal Life

In 1995, Jonathan Gray married Mindy Basser, and they have four daughters together.
The ceremony took place at Temple Beth Zion Israel in Philadelphia, officiated by Rabbi Ira F. Stone.
The Grays reside in Manhattan.
He has been recognized in Vanity Fair's 'New Establishment' list, highlighting his influence and success in business.
Gray contracted COVID-19 in 2022, necessitating changes in his attendance at events.

How long would it take you to become as rich as Zhang Xuexin?

If you started with $10,000 and invested an additional $500 each month at a 44.06% CAGR, it would take you 5 years to reach Zhang Xuexin's net worth of $3.66B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.24% compared to 16.19% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Zhang Xuexin is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Zhang Xuexin, Aluminum is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey