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MarketScreener Homepage  >  Equities  >  Nyse  >  The Blackstone Group Inc.    BX

THE BLACKSTONE GROUP INC.

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Blackstone CEO, a Trump ally, says election result clear; time to move on

11/23/2020 | 11:48am EST
Stephen Schwarzman, Co-Founder, Chairman and CEO of Blackstone, speaks during the Bloomberg Global Business Forum in New York City

(Reuters) - Blackstone Group Inc Chief Executive Stephen Schwarzman, one of Wall Street's biggest donors to President Donald Trump's re-election campaign, said on Monday that the election outcome was now certain and that the United States should move on.

Schwarzman's comments, first reported by Axios, came as Trump is locked in legal disputes in several battleground states seeking to overturn Democratic challenger Joe Biden's win in the Nov. 3 U.S. presidential election. Trump has also resisted preparations transfer the reins of government to a new administration ahead of Biden's inauguration on Jan. 20.

"I supported President Trump and the strong economic path he built. Like many in the business community, I am ready to help President-elect Biden and his team as they confront the significant challenges of rebuilding our post-COVID economy," Schwarzman said in a statement on Monday.

The Trump campaign did not immediately respond to a request for comment.

Schwarzman, who leads a private equity firm with $584 billion in assets under management, had defended Trump's right to challenge the election result during a conference call of U.S. business leaders on Nov. 6. Since then, Trump's campaign and his allies have yet to score a legal win that could reverse the outcome of the election, despite alleging extensive voter fraud and irregularities without hard evidence.

Schwarzman's comments add to a growing chorus of Trump supporters and lawmakers in the Republican Party calling on him to begin facilitating a transition of power. Top Republican lawmakers, however, have so far resisted recognizing Biden as the next president.

"I'm a fan of good process," Schwarzman said. "In my comments three days after the election, I was trying to be a voice of reason and express why it's in the national interest to have all Americans believe the election is being resolved correctly."

(Reporting by Chibuike Oguh in New York; Editing by Dan Grebler)

By Chibuike Oguh


© Reuters 2020
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Financials (USD)
Sales 2020 5 885 M - -
Net income 2020 3 007 M - -
Net Debt 2020 6 756 M - -
P/E ratio 2020 26,6x
Yield 2020 3,22%
Capitalization 44 699 M 44 699 M -
EV / Sales 2020 8,74x
EV / Sales 2021 6,76x
Nbr of Employees 2 905
Free-Float 98,7%
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Technical analysis trends THE BLACKSTONE GROUP INC.
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 68,61 $
Last Close Price 64,41 $
Spread / Highest target 24,2%
Spread / Average Target 6,52%
Spread / Lowest Target -9,95%
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Managers and Directors
NameTitle
Stephen Allen Schwarzman Chairman & Chief Executive Officer
Jonathan D. Gray President, Chief Operating Officer & Director
Michael S. Chae Chief Financial Officer
John Stecher Chief Technology Officer
Hamilton Evans James Executive Vice Chairman & Director
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