The Blackstone CEO, as yesterday’s long Wall Street Journal profile of the firm makes clear, is very good at making money. Specifically, finding opportunities to make money and then doing it. His president, Tony James, has another gift.
“I worry about becoming a symbol, a symbol for greed, a symbol for income disparity,” said Mr. James, Blackstone’s president, in an interview last year. “I don’t mind being part of a herd. I don’t want to be singled out….”
[Schwarzman] doesn’t share populist-backlash fears, saying Mr. James is “very good at worrying.”