When it comes to asset management there is no that can beat Blackstone. The multinational private equity company manages a whopping $1 trillion in assets. To put that into perspective its more money than the GDP of Switzerland. Besides being one of the world’s largest investment firms, specializing in credit and hedge fund investment, they are trying to look good dancing in the Taylor Swift video. Like Taylor Swift, they’ve managed to make the world stop and notice, only not in a good way. Already dubbed the most cringeworthy corporate video of the year, the latest insanity of the internet features the company bigwigs, including Blackstone President Jonathan Gray, CFO Michael Chae, and board member Christine Anderson, and keeping up with tradition and prancing to their own pop song.
The video, titled “Alternatives,” was Blackstone’s 2023 holiday video and gained significant attention, with Gray, Blackstone’s president and COO, playing a central role. The inspiration for the video came after Gray attended a Taylor Swift concert. Former SAP CEO Jennifer Morgan, Global Head of Portfolio Operations, jumps in the mix at the end, performing in a white fur jacket and doing little to save the day. The senior figures in the company bring out their inner child while mouthing lyrics like ‘we buy assets and make ’em better’ and ‘great returns for institutions and private wealth solutions.’
The internet, a cruel place, did what it does best, and it rained ridicule. Per Dailymail, one leading UK hedge fund manager said: ‘This is painful beyond belief. Total hubris. What a bunch of embarrassing clowns.’ The so-called clowns are money-making sharks of the corporate world. Blackstone’s Schwarzman received over $1 billion in pay dividends in 2022. In 2023, he became the same man who greenlighted Blackstone’s disastrous version of the Eras tour.
