Why is Jon Gray on a goldmine? Who is Jon Gray anyway? Well, if you’re intimately involved with a certain real estate giant by the name of Blackstone, you’ll know Jon Gray, but let’s just talk about this guy by the name of Samuel Zell, and it’ll all be clear to you:
Why Samuel Zell Has Made Real Estate Mammoth Headlines
Talk about starting from the bottom…. Samuel Zell epitomizes the American Dream, like a Jordan Belfort, Wolf of Wall Street, but without the scandal and controversy. Starting off as a student from the University of Michigan, this was a man that went first local with a property manager to buy cheap homes, flip them houses, and then rent them to students. Small potatoes, right? Well, you have to start somewhere….
It certainly helped that this man Samuel Zell had the street/book smarts not only to aggressively go after such a business, but to graduate from law school. Now you know this guy Samuel Zell has the backing of a brain meant for success, and with the backing of a senior partner at his previous law firm, he jumped headfirst into the real estate industry with his company Equity Group Investments (EGI).
Now make no mistake — that was a startup. But a successful one at that. Actually, that’s quite the understatement.
The company became so successful, building such a gargantuan real estate empire that turned the heads of many, including one very successful real estate investment firm by the name of Blackstone, who wanted in on the moneymaking power of EGI and worked out a deal for $39BB, the largest buyout in history at the time.
So That’s Why Jon Gray and Blackstone Are Loving Life?
In a way, yes…. Well, they were already successful. But now, they’re so much more. Thanks so Samuel Zell. Now that’s a real estate power player right there, out of many real estate moguls for 2015.