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Jon Gray

Chairman of the Board, Hilton Worldwide

Search every verified Jon Gray interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Jonathan Gray, President and Chief Operating Officer of Blackstone, discussed the firm's investment strategy and outlook during recent appearances, including at the Bloomberg New Economy Forum in New Delhi. Gray stated that Blackstone aims to double its investments in India from approximately $50 billion to $100 billion over the next five years, citing opportunities in real estate sectors such as logistics, hotels, and shopping centers, as well as financial services and cricket team ownership. He attributed India's improved investment climate to government policies that reduce bureaucracy, simplify taxes, and welcome foreign capital, and he noted that the country's liquidity in public markets is now second only to the United States. Gray also addressed the firm's focus on artificial intelligence infrastructure, describing it as a key investment theme globally and in India. He said that demand for compute remains strong and that Blackstone is investing in data centers and related energy needs, while acknowledging that public market caution has introduced more discipline to the sector. In discussing broader economic conditions, Gray said that rising costs of capital and geopolitical risks are offset by revenue and margin growth at Blackstone's portfolio companies, and he expressed confidence in long-term growth prospects for India relative to other major economies.

Recent appearances

  • Our Goal Over Next Five Years Is To Double From $50 Billion To $100 Billion: Blackstone’s Jon Gray

    October 14, 2026 · 📺 CNBC-TV18

    “We’ve said that we have about $50 billion in real estate and companies here. Our goal over the next five years is to double that to $100 billion.” Jonathan Gray, President and Chief Operating Officer of Blackstone Group, says the firm will take a long-term approach to India, with logistics, hotels, shopping centres and a range of companies in focus. While speaking to CNBC-TV18's Shereen Bhan he also stated that the opportunity set will grow as long as the economy keeps growing and the government offers foreign investors certainty and clarity in its policies. Gray also says Blackstone like…

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  • In Full: Blackstone's Gray on India's Modi, AI Buildout

    October 13, 2026 · 📺 Bloomberg Television

    Blackstone President Jonathan Gray discusses the firm's investments in India, his views on Prime Minister Narendra Modi and why he's confident about the artificial intelligence infrastructure buildout. "We think focusing on the AI infrastructure here in India and around the world is the right place to be," Gray says in an interview with Yvonne Man on the sidelines of the Bloomberg New Economy Forum in New Delhi. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tiny…

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  • Blackstone President Jonathan Gray On India's Investment Boom & Global Risks | BNEF 2026

    October 12, 2026 · 📺 Business Today

    Is India becoming one of the world's most attractive investment destinations? Blackstone President and Chief Operating Officer Jonathan Gray shares his perspective on India's improving investment climate and the biggest risks facing the global economy at the Bloomberg New Economy Forum 2026 in New Delhi. Speaking during the session "The End of Predictability," Gray highlights India's progress in infrastructure development, dispute resolution and openness to foreign investment, which are strengthening the country's growth prospects. He also warns that artificial intelligence, technological disr…

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  • Global Leaders on the End of Predictability

    October 12, 2026 · 📺 Bloomberg New Economy

    Natarajan Chandrasekaran, Chairman, Tata Sons; Jonathan Gray, President & Chief Operating Officer, Blackstone; and The Rt. Hon. Rishi Sunak, Former Prime Minister & Member of Parliament, United Kingdom discuss leadership strategies amid global economic uncertainty, fragmentation and disruption with Bloomberg's Erik Schatzker at the 2026 Bloomberg New Economy Forum in New Delhi. -------- Like this video? Subscribe to Bloomberg New Economy on YouTube:    / @bloombergneweconomy   Read the latest from Bloomberg New Economy here: https://www.bloomberg.com/new-economy Connect with us on…

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  • Blackstone's Jon Gray on Big Bets, AI, & Staying Skeptical | The CEO Signal

    August 27, 2026 · 📺 Semafor and Blackstone

    Jon Gray, chief operating officer of the $1.3 trillion asset manager Blackstone, says one of the firm’s distinguishing habits is to “go big” when it finds a theme it believes in. But he also says successful convictions need to be challenged, particularly as Blackstone invests heavily around artificial intelligence. “You keep pressing against what you’re doing to confirm that you haven’t just sort of fallen in love,” he says. In this episode of The CEO Signal, Gray describes investing as “pattern recognition”: finding “good neighborhoods,” and connecting the dots before others do. Hosted by Pe…

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  • Blackstone's Jon Gray Addresses 700+ Clients | May 2026

    June 05, 2026 · 📺 Blackstone

    At Blackstone’s 2026 Annual LP Meeting (May 19, 2026), with over 700+ limited partners in attendance, President & COO Jon Gray shares why he remains optimistic about the global economy and how AI is shaping the next phase of growth and productivity. In a fireside chat with Courtney Reagan, Senior Editor of Blackstone Insights, he discusses the macroeconomic backdrop amid geopolitical uncertainty, the scale of AI Investment – including data centers and the infrastructure required to support it – and how Blackstone is positioning to capture this shift though new platforms like BXDC and BXN1, a…

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  • Blackstone's Jon Gray on Building a $1.3 Trillion Wall Street Giant

    May 10, 2026 · 📺 Bloomberg Podcasts and Bloomberg Originals

    What does it take to lead through a near-disaster and turn it into a $14 billion win? In this episode, Blackstone President and Chief Operating Officer Jon Gray shares lessons from the financial crisis, revealing why staying calm, backing the right businesses and building trust can make or break a leader. He also opens up about shaping culture, retaining top talent and leading with humanity—offering a rare inside look at how one of the world’s biggest investment firms navigates uncertainty. Check out more interviews: http://bloomberg.com/leaderswithlacqua Read more on management and work:…

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  • Blackstone's Jon Gray says AI is Single Biggest Driver | Open Interest 4/23/2026

    April 23, 2026 · 📺 Bloomberg Television

    Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." Crude surges as tensions escalate in the Strait of Hormuz, rattling global markets. Blackstone’s Jon Gray doubles down, calling for the firm’s “best year ever” as IPO momentum builds. Plus, a wave of earnings—Tesla ramps AI spending to $25 billion, American Airlines braces for soaring fuel costs, and American Express sees travel demand cool. ServiceNow’s Bill McDermott says growth is still the story. Chapters: 00:00:00 - Open Interest 00:01:46 - Tesla Boosts Spending Plan to $25N in AI 0…

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  • The Strategy Behind Blackstone's Success: Jon Gray on Data Centers, AI, & the Future of Investing

    March 18, 2026 · 📺 Kogod School of Business, AU, Washington DC

    Blackstone President and COO Jon Gray joins Kogod School of Business Dean Dave Marchick for a wide-ranging conversation on AI infrastructure, data centers, resilient investing, and the habits that drive long-term success. Chapters 00:00 – Welcome + opening remarks (Dean Dave Marchick) 09:00 – What Jon Gray does now: investor first, leader and communicator 16:41 – AI infrastructure: data centers, chips, power, and backlash 23:18 – Hilton: crisis, conviction, and lessons learned 29:09 – Limited partner conversations and “getting to the other side” 34:02 – How Blackstone uses AI acros…

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  • Blackstone's Gray on UK Policies, Private Credit, Impact of Iran War

    March 16, 2026 · 📺 Bloomberg Television

    Blackstone President and Chief Operating Officer Jon Gray says the UK government’s attempts to balance the books through higher taxes are pushing entrepreneurs to move abroad. In an interview for the upcoming podcast series, Leaders with Francine Lacqua which launches March 16, Gray also says that recent ructions in the world of private credit aren't indicative of systemic issues. He also expects dealmaking to pick up sooner than people expect despite a pause in transactions because of the Middle East conflict. -------- More on Bloomberg Television and Markets Like this video? Subscribe…

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  • Inside Jon Gray’s Leadership Journey at Blackstone | The 19th Hole

    February 17, 2026 · 📺 iCapital and Blackstone

    From running videos across the globe to steering Blackstone through challenging events, Jon Gray sits down with iCapital CEO Lawrence Calcano for an unforgettable conversation about leadership, resilience, and building an enduring firm. Explore key moments: 00:00-01:15 Introduction and Blackstone founding 01:16-3:09 Jon Gray early years 03:10-08:04 Real estate & the Hilton deal 08:05-9:51 Blackstone leadership transition 09:52-14:14 Institutional investing and alternatives 14:15-17:43 Leadership style & leading through tragedy 17:44-19:34 Philanthropy 19:35-22:58 Blackstone holiday video, r…

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  • Dealmaking, Disruption, and Real Estate's Recovery | Jon Gray's Market Views Q1 2026

    February 10, 2026 · 📺 Blackstone

    In this episode of Market Views, Blackstone President Jon Gray shares his take on the economy, investing and navigating disruption. Drawing on insights from ~270 portfolio companies and ~13,000 real estate assets, he covers the current inflation picture, prospects for further Federal Reserve rate cuts, the massive AI infrastructure buildout and optimism we’re seeing across private equity, real estate, private credit and hedge funds. 00:00 – Intro 00:32 – Economic Weather Report 02:14 – AI Is (Still) the Main Thing 03:06 – Commercial Real Estate Recovery 04:16 – Private Equity Deals Surge 05…

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Verified interview transcripts

Notable quotes

“Well, I think will continue to be very long electricity, because everything we're talking about around technology, the data centers, the autonomous vehicles, the robots, all of it's going to use electricity. So this AI is going to move from the desktop to the physical world that will demand more electricity. Obviously the digital infrastructure hugely important. I think unfortunately, based on the discussion, Chair R”

“Well, I think there's a very important difference. I mean, I think all of these countries face this challenge, but the growth rates in the U.S. are much higher. And when you look at the technology, the investment, what's happening with AI, you're seeing it lead to a lot of capital flows in. And that higher rate of growth gives you a little more room. Now, ultimately, the US is going to have to face tough choices. But”

“I think the key there is that 90-95% of the money goes in the ground after you have a long-term lease with one of the biggest technology companies in the world. So if you contrast that to say building condos in Miami, somebody sells a condo at a very high price, 20 other people go out and build. Guess what? The price falls down because there's a ton of new supply. Here I'm building this 5-10 billion data center becau”

“Today the hardest part of investing is to know what are professional services going to be worth. What is a billable hour? What's going to happen in information services? What's going to happen in the media business? What's going to happen in the software business? These are much harder questions because now we're talking about secular changes where in some cases some of these businesses will thrive, but others will g”

“I think where you're going to see the most explosive growth is on the investment grade side, particularly providing capital to this really this revolution, this AI infrastructure buildout because you need private capital, the flexibility, the structure to do the scale of what's coming and to do it in a way that's different than liquid markets for these huge development projects.”

“I would argue today the opposite is the risk that the political push back which is growing that the shortage of power, the shortage of turbines, the shortage of memory chips and the almost exponential growth in demand means these data centers once you get them built are going to be incredibly valuable.”

Other executives at Hilton Worldwide

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