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Tony James

Chairman, Costco; Founder, Jefferson River Capital; formerly President & COO, Blackstone, Costco

Search every verified Tony James interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In an October 2026 interview, Tony James discussed his career and current views, touching on his roles at Blackstone and Costco. He reflected on the growth of Blackstone from $14 billion to over a trillion dollars in assets under management and his long tenure on Costco's board, which he has chaired since 2017. During the conversation, he commented on Costco's business model, noting its lower prices compared to competitors and its backward integration into supply chains, and he referenced the company's $1.50 hot dog price as a fixed point. James also shared opinions on broader economic and technological trends. He predicted that AI-driven medical advances would extend lifespans and increase demand for doctors, while suggesting that some specialties, such as radiology, might be less secure than others like surgery. He also commented on the practice of buying gold as a savings method, attributing it to cultural traditions and noting that it can represent a disconnect from the financial system. Additionally, he discussed a charity he founded that works with universities serving a large portion of HBCU students, expressing pride in its success.

Recent appearances

  • Tony James: Blackstone, Costco, and the Art of Spotting BS

    October 06, 2026 · 📺 Molecular Beings

    Costco's Chairman and Blackstone's former Executive Vice Chairman and President, TONY JAMES, reveals the kidney stone he fought through during Blackstone's IPO, why the $1.50 hot dog will never go up, and how he spots talent before people see it in themselves. Tony James helped build Blackstone into a global giant, led Costco's Series A in 1983, has served on Costco's board since 1988, and has chaired it since 2017. But the thread running through his career isn't money. It's an eye for value other people overlook: in a warehouse idea, in young bankers, and in everyday Americans whose futures…

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  • Building Blackstone, Backing Costco, and Working with Munger | Tony James on The a16z Show

    May 05, 2026 · 📺 a16z

    David Haber speaks to Tony James, former President and COO of Blackstone, about what it takes to build enduring investment franchises across five decades on Wall Street.They discuss how DLJ used principal capital to outflank better-capitalized rivals in private equity, the lessons from backing Jim Sinegal at Costco's Series A and serving alongside Charlie Munger for 30 years, and how scaled to new heights through retail distribution, disciplined acquisitions, and a succession plan built to preserve momentum. Timestamps: 00:00 - Trailer 00:45 - Starting at DLJ: Getting in on the Ground Floor…

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  • Tony James: The Foresight that Shaped Modern Finance | Grey Matter with Declan Kelly

    April 09, 2026 · 📺 Consello

    Tony James has spent over four decades seeing what was coming next and acting on it long before anyone else. He built DLJ from a mid-sized brokerage into one of the most influential platforms on Wall Street by creating the leveraged buyout and private capital businesses that became the model the rest of the industry eventually adopted. He joined Blackstone as COO and constructed an entirely new set of investment businesses, helping transform the private equity firm into the world’s largest alternative asset manager. At Costco, he has spent four decades helping build and safeguard a company ar…

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  • Costco Board Chair DEI Feb 27 2025

    February 28, 2025 · 📺 Sustainability Navigator

    Costco’s Chairman of the Board, Hamilton E. (Tony) James, explains why Costco is standing behind its current DEI policies and procedures

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  • Squawk Pod: A tariff tally & Blackstone’s former president Tony James - 02/27/25 | Audio Only

    February 27, 2025 · 📺 CNBC Television

    President Trump has said tariffs on Mexico and Canada will begin next week. Eamon Javers reports from Washington on the tariff messaging from The White House. Once COO and President of Blackstone and now Chairman of Costco Tony James shares his perspective on the US economy, business strength, and consumer confidence. James considers American business to be slowing down, thanks to uncertainty from the administration. In the face of DEI rollbacks across corporate America, Costco remains consistent in their commitment to equity. Plus, Nvidia topped analyst estimates, for the first time in a dec…

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  • Former Blackstone President Tony James: The economy is weakening and consumer is starting to buckle

    February 26, 2025 · 📺 CNBC Television

    Tony James, former Blackstone president and COO, joins 'Squawk Box' to discuss the state of the economy, concerns over business sentiment, strength of the consumer, uncertainty over Trump administration's policy proposals, the role of DOGE in Washington, state of the M&A environment, the debate over carried interest, DEI rollback in corporate America, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the la…

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  • The Blackstone Groups' Tony James sat down with ASFA CEO Dr Martin Fahy - Part 1

    October 22, 2019 · 📺 ASFAAUST

    As The Blackstone Group marks its ten-year anniversary in Australia, Executive Vice Chairman and co-author of book 'Rescuing Retirement', Tony James, sat down with ASFA CEO Dr Martin Fahy to discuss America’s looming retirement funding crisis, the key elements of a long-term solution, and why Australia’s retirement system is ‘the model’ for the rest of the world. ABOUT ASFA The Association of Superannuation Funds of Australia (ASFA) is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political, national…

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  • Blackstone executive Tony James writes second book on retirement

    April 06, 2018 · 📺 Fox Business

    Blackstone Executive Vice Chairman Tony James discusses why young people will have a difficult time retiring.

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  • It's Time To Reinvent Retirement Plans: Blackstone's Tony James | CNBC

    February 05, 2018 · 📺 CNBC

    Tony James, Blackstone chief operating officer and "Rescuing Retirement" author, talks about the need to devise a plan that guarantees retirement security for all Americans. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cn…

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  • Blackstone's Tony James Has a Bold Plan to Save Your Retirement

    March 15, 2016 · 📺 Bloomberg Originals

    March 15 -- Tony James, president and chief operating officer at Blackstone, explains his proposal for a guaranteed retirement fund for all workers. He speaks with Erik Schatzker on "Bloomberg Markets." Like this video? Subscribe to Bloomberg Business on YouTube:    / bloomberg   Watch Bloomberg TV live at http://www.bloomberg.com/live

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  • Tony James, President & COO - The Blackstone Group

    August 29, 2013 · 📺 OneWire

    OneWire (http://www.onewire.com/videos) interviews Tony James, President & COO at The Blackstone Group, in the latest installment to the Open Door video series with Skiddy von Stade. Tony James currently serves as President and Chief Operating Officer of Blackstone, a premier global investment and advisory firm. After consecutively earning a B.A. and an M.B.A. from Harvard University, Tony began his prominent career as an Investment Banking associate at Donaldson, Lufkin & Jenrette (DLJ). He went on to lead DLJ's global M&A group, found DLJ Merchant Banking, and head up the Banking Group, re…

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  • Private Capital Symposium: Hamilton "Tony" James

    May 15, 2008 · 📺 TheDealVideo

    At The Deal's Fifth Annual Private Capital Symposium Hamilton "Tony" James, the president and COO of the Blackstone Group LP, spoke about the benefit of loose debt covenants. Prior to joining Blackstone James was Chairman of Global Investment Banking and Private Equity at Credit Suisse First Boston and a member of the Executive Board. Prior to the acquisition of Donaldson, Lufkin & Jenrette by Credit Suisse First Boston in 2000, James was the Chairman of DLJ's Banking Group. For more on James and other speakers at The Deal's Fifth Annual Private Capital Symposium see thedeal.com/blog…

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The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →