Blackstone CEO Steve Schwarzman: We're going to be a lot more active in 2024 than we have been

Blackstone Group chairman, CEO and co-founder Steve Schwarzman joins 'Squawk Box' to discuss the real estate market, doing business in China, 2024 election, and more.

[@patrickt.8250]

What he's basically saying, "I'm taking advantage of people who are in trouble because we have a lot of money and they dont"

[@salamandiusbraveheart4183]

He's basically satan

[@IQ141]

Also the inflation and high interest rates came because of decisions taken by likes of this guy

[@yungone369]

how the world works

[@STLT]

Wrong, wrong and wrong, Govt creates inflation and this mess we are in....@@IQ141

[@willhunt1143]

How?​@@IQ141

[@toddgammons9400]

Never thought I’d see a company people disliked more than oil and insurance companies but blackstone takes top honors in that category

[@LHallinan71]

They’re basically the Sacklers of real estate.

[@thomasburr9244]

Black rock > black stone

[@jacobhoffman2553]

this man is one of the reasons you cant find housing... lets give him a standing ovation america!!!

[@salamandiusbraveheart4183]

He's basically pure evil

[@SSD5430]

What standing ovation to a criminal?

[@willhunt1143]

How is he a criminal? He didn't steal anything.​@@SSD5430

[@TerminallyLogikal]

He doesn’t manage close the amount of money it would take to affect housing on that scale. Period.

[@evns7142]

please. it's sarcasm. learn it@@SSD5430

[@Henrydonald1]

The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.

[@Emily24338]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@jacksonlucas5933]

I agree. Based on personal experience working with an investment advisor, I currently have $385k in a well-diversified portfolio that has experienced exponential growth. It’s not only about having money to invest in stocks ,but you also need to be knowledgeable,persistent,and have strong hands to back it up.

[@blessingpeter5681]

I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up .

[@jacksonlucas5933]

Sure, the investment-advisor that guides me is..

[@jacksonlucas5933]

MARY TERESE SINGH

[@aqynbc]

At least he is honest. It is simple. Every country should outlaw the purchase of properties in bulk by financial entities. But it will not happen. Politicians are in their pockets. It sucks, but here you are.

[@geraldt331]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.

[@Jadechurch-ql3do]

The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.

[@yeslahykcim]

I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.

[@codeblue11]

impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now

[@yeslahykcim]

“Leila Simoes Pinto’’ You can easily look her up, she has years of financiaI market experience.

[@brianwhitehawker1756]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@sully_n_dubs]

Interesting that the CNBC anchors did not ask about US legislation that has been introduced to stop private equity from buying US real estate.

[@DavidYazdy-mz4qg]

You might confused, i think the legislation is for residential real estate, he pretty much solely spoke about commercial real estate

[@sully_n_dubs]

@@DavidYazdy-mz4qg yes but they still have a lot of US residential real estate that they bought since COVID and the legislation requires them to liquidate it over some period of time.

[@rickysampson8759]

Never going to pass. BlackRock is Biden biggest donor

[@id10t98]

Because they know it will never pass. These people are one of the owners of the SCOTUS and the rest of the US Government.

[@STLT]

Lets hope that legislation fails to pass.

[@jamisonmunn9215]

This is a disaster for every single person in America. Blackstone owns a ton of homes and apartments that they just keep vacant because they refuse to lower the rent prices. I have been looking for an apartment and within a 5 mile radius there are over 100 units available but still asking above $1,100 per month. The prices should be around $800, more and more vacancies every day.

[@Chad_Max]

We've had 10 years of inflation in 3 years b/c of this current administration. Why should the corporate landlords take this hit? That makes zero sense. You get what you vote for.....

[@jamisonmunn9215]

@@bahlsdeepe868 you are so beyond off base its frightening. I want more hikes in interest rates. I have rented my entire life, I have seen double digit rates and zero rates and none of them really affected rents. What typically affects rates is supply and demand of available units to rent. What is different this time is covid money allowed for the same 3 companies to own increasing amounts of real estate. Furthermore they know for a fact they are too big to fail. The government would have to bail them out.

[@salamandiusbraveheart4183]

Shouldn't be legal

[@jacquelinemiguez1326]

you cant just blame Blackstone for the overall pricing, theres way more variables and factors at play here. Demand and Supply dynamics are determined by the entire market not just by one company.

[@jamisonmunn9215]

@@jacquelinemiguez1326 there are basically 3 main players Blackstone being one of them. Similarly in airlines there are 3 main players and Jetblu buying Spirit would have added a 4th major player and that acquisition was blocked. You can look at almost any class of real estate and just like everything else its far more consolidated than it has ever been before. Mobile home parks, apartment complexes, even homes, home builders are building whole communities are already sold as a portfolio to company giving rise to the term build to rent, which wasn't even a phrase 20 years ago.

[@debbiemacnichol]

Anyone know which stocks might be seeing significant increase this holiday season? A January bounce has been mentioned frequently. I recently sold my Boca Grande, Florida, home, and before the stock market's equities start to recover, I want to invest a big sum. Is it wise to purchase right now or not?

[@danieljackson87]

Because of these market uncertainties, I was left holding worthless positions in the market in 2020, thus I don't base my market analyses and decisions on rumors and hearsay. I had to completely restructure my portfolio with the help of an advisor before I saw any visible benefits; I've been working with the same advisor and have scaled up to 750k.

[@mikeharry96]

@@danieljackson87 I've recently considered chatting with consultants. I need direction as an adult, but I'm not sure if their services would be of much use.

[@danieljackson87]

Indeed, my mentor Stacey Laura Alviani is well-versed in the financial sector and has received substantial training in it. She is recognized as an expert in the sector and is well-versed in the benefits of diversifying one's investment holdings. I suggest researching her credentials more. Because of her broad knowledge, she is a terrific resource for anyone trying to comprehend the financial market.

[@andrewlogan7737]

@@danieljackson87 I appreciate your advice. Finding your coach wasn't difficult and I thoroughly checked her qualifications before scheduling a call with her. Based on her credentials, she appears to have a high level of expertise, and I value the opportunity to speak with her.

[@mr.noname115]

If there was anyone here that would know exactly how to Invest their money, then ppl wouldn't tell you, but would instead Invest for themselfs. So If you want an advice: Don't ever listen to advices, unless you paid someone for giving it to you.

[@zNervouss]

This guy is the problem.

[@jimeyhat]

Zoomers should all agree not to buy property until BREIT capitulates

[@STLT]

The govt is the problem creating all this mess with their central manipulation of rates and spending.

[@Barbaris369]

How? Cause he created a company and you had your thumb up your ass all your life living the life of victim?

[@matbob7249]

Institutional buyer is 0.3% of total buyers. Huge problem lol. You are the problem because you cannot bring enough value to the market and can’t afford nothing. So these guys have to buy- pay money for product, buy- not confiscate. Are you 12 or you missed fundamentals of capitalist economy?

[@minjikim2161]

If you have a problem with him you have a problem with Capitalism thus have a problem with America. Mutiny

[@girmag]

This is so unethical. Private investment & hedge funds should not have a record quarter buying up single family homes. This is a HUGE problem that is a road block for millennials & gen zs from owning a home so they are stuck in their parents basements.

[@LHallinan71]

I know it’s not popular to say here but RFK Jr has a plan to stop these oligarchs. We need millennials & gen Zers to own homes and keep communities alive.

[@Procanin]

@@LHallinan71RFK is not electable because of the likes of Steve and CNBC

[@godzillamothra5983]

when they predict there will be a lot of dead bodies in the valley, of course we can also predict the vultures will be a lot more active

[@techcafe0]

except that real vultures are essential to the ecological health of planet earth. these Blackstone vultures are actually parasites.

[@riobrasilsambashowssambist1453]

Perfectly stated. This dude is a full on vulture in sheep clothing

[@koollee]

🤣🤣😭😭😭😢

[@davidr4523]

Steve Schwarzman basically said nothing during this almost 8 minute interview. This is why CEO interviews are worthless since they have nothing informative to say nor do they make any revealing or bold comments. Also why was he whispering the entire time?

[@CaptainPlanet007]

He did, confirmed that he is gobbling up the market. And Stephen always been wise with his words..he move at his own pace, most billionaires do.

[@courtneyparker9950]

I thought I was only one wondering about the whispering.

[@davidr4523]

@@CaptainPlanet007 No one is questioning his intelligence. I am sure he is a great leader. However he did not provide any remotely valuable information in this interview. Maybe it is the interviewer’s fault for not asking harder questions or pressing for more detailed answers.

[@siplifestyle]

He said a lot and it's scary what he was saying. They are gobbling up everything!!!

[@LHallinan71]

Read the article “The Blackstone Rebellion” in the Guardian by Hettie O’Brien. Denmark put a hitch in Blackstone’s giddyup. I don’t see why Americans couldn’t do the same. My first post here about this was deleted. My first deleted post ever so I guess I’m on to something. 🥂

[@kimberlysimpsonfaeth3984]

Here it is... The markets have been 100% been manipulated to devestate all of us regular people to make a % HAVE TO sell off assets. Interesting how he adds that he's in such a position that he can pick and choose what debt he buys.

[@pauld1829]

Kennedy is the only politician talking about what is going on in this industry. Scary

[@eddylauterback1312]

Good point. Damn, I wish the Dems would let him challenge joe

[@ZeeProductions2001]

Lol Vivek and Kennedy been exposing the establishment but y’all want democrats to win so bad but all democratic candidates are social justice warriors not economists

[@Stockdoc254]

Investment properties should be limited. All it will do is make housing more unaffordable for the average American. And this is coming from a home builder myself.

[@olivergasior8005]

In their mind they’re increasing shareholder value which is their primary mission and provides moral authority; however, this is the most dangerous corporate strategy in the history of capitalism because it will undue the American dream permanently unless there is regulatory intervention. Soon Americans will only be credit debtors and home lessee’s and corporations will own everything.

[@koollee]

💯

[@billmoyer3254]

Blackstone and Vanguard own it all.

[@02nupe]

BlackRock too

[@dubsar]

Exit International will expand its membership as well.

[@EricCarrJeetKunedo]

In just hearing him stumble for several minutes, he'd make a good US presidential candidate. Hey, I heard all the escorts and Davos are booked up.

[@AlanDuvall]

buying student loans as a great asset. Let that sink in.

[@Boom_1306]

That part 👋🏽💥🛎

[@warmike]

didn't he say that was an asset class he does *not* want?

[@Twestliw]

How does this man try to buy the whole world and not feel any bit of guilt about it

[@testing6753]

if we're being totally honest, is it people's high morals or lack of money that's keeping them from buying the whole world? If you offer $ 50 billion USD to 100 people on the streets, how many would turn it down out of "morals"?

[@Twestliw]

@@testing6753 you’re one of the guys that allows other men to destroy the world for the sake of power. Mostly people just want a nice house for themselves not 500 houses to keep other out of the market.

[@id10t98]

@@testing6753 How many of them would also give most of it away?

[@nygariottley245]

you wouldn't either.

[@willhunt1143]

Thats what im trying to do.

[@Mario-lj7gm]

What they don’t mention is who drives and manipulates the interest rates and prices to begin with. They have enough money and power to cause these market swings and the little guy gets screwed. Politicians are of course in their pockets.

[@Blashmack]

It's entropy and natural chaos driving those things, if you believe there is a group behind it you're delusional.

[@endocrime]

So what should I start clapping now for Blackstone?

[@LatchKey1]

No one asking him about single family homes. That’s the really troubling part.

[@jackmehoff9819]

Real life Smithers from the Simpson show.

[@koollee]

Lol

[@keepingitcrypto560]

You mean Mr Burns

[@johnawad8710]

This guy is Mr. Potter, right out of the movie, "its a wonderful life."

[@user-po9lg7et4h]

Absolutely

[@diegolainfiesta]

Europe needs to make sure living spaces are sold to people who are actually going to live there. Private capital and speculation must be banned there. With the amount of money they have, they can actually corner the market. Doing so with stocks is much harder and riskier, but with real estate (the money they got available and the number of available units) it is much easier to do. EU must urgently take measures, as the rest of the world.

[@TheGreekGodOfWallStreet]

Is that the same coat Steve wore last year? 🚨Major bearish indicator 🚨

[@id10t98]

The new private jet was more expensive than first bid.

[@nicholas5396]

😂

[@TheGreekGodOfWallStreet]

False alarm guys, Steve wears it to Davos every year as it’s his “Davos coat”

[@JacobBrand2000]

Individual/Private ownership is what this country stands for, and it’s becoming increasingly difficult. This must become a priority… Once you own your land and your income, then you can truly feel and experience the liberty this country has to offer. We cannot stop smart individuals/organizations from buying assets using the cash they have accumulated, and it’s unconstitutional to do so (unless they’re managing the assets of foreign interests). When you own the property, you decide what it’s worth or what rent prices will be. This is the liberty of ownership, and there’s plenty of affordable housing - it’s just not up to the common standard of American living. If you have a problem with these Asset Managers owning property, buy your own - and be one step closer to freedom!!

[@onetruecalling]

Blackstone and other massive equity funds must be kept out of the residential housing market. They are ruining the marketplace

[@Boom_1306]

Everyone have to remember this is "The American Dream" No one can hate🤷🏾‍♂️ Get your bag up!!

[@DfranklinCRE]

Bringing manufacturing and distribution back to the United States.

[@kimberlysimpsonfaeth3984]

It should be 100% I'll legal for corporate investments to buy R.E. At least S.F.R.s...

[@ericanderson3534]

There was a lot of interrupting of Steve. Regardless, he was very amicable and carried on with his thoughts.

[@phillynyc7432]

always wonder why they do interviews in the cold ?

[@GrietjeBouius]

Watching this video remind me alot my stay in Norway was so fun and motivating. My financial life transformed greatly as I met an old friend in Norway who introduced me to online trading and investment. I started investing in assets that earns me monthly passive income and now I got 4 out of my 5 goals. Just hope it encourages someone's that it doesn’t matter if you dont have any knowledge right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.;}✓✓✓

[@GijsJan-yp4kb]

yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too..

[@StephenAlex-gd1ep]

Hello, I’m 37 and I am not worth much yet , please help me out. Bought my first house last month and I can't seem to make any other smart investment.

[@cmonz9]

Everything is wonderful

[@niranjanishetty8069]

Blackstone may buy Europe real estate and be reinter of Europe. Lords of Europe

[@louiss9906]

What does student loans have to do with real estate?

[@ColdMotivation-rf8fg]

I fear the obvious answer is the answer

[@nicholaslopez7972]

ie nothing ..?@@ColdMotivation-rf8fg

[@harvynussbaum5182]

You're not talking about all the real estate. He's walked away from and plans on walking away from and leaving the banks holding the bag. Can't say that I really blame them. Thanks got themselves into that position so take advantage of it. And remember the golden rule those who have the gold rule.

[@1.restnrelax.1]

"Woe unto them that join house to house, that lay field to field, till there be no place, that they may be placed alone in the midst of the earth!"

[@Eazyset]

These Guys control the world..

[@takingthepiss1]

Steve has the gentle demeanor of a teddy bear ❤️

[@UrbanFarmer413]

He literally said yeah we wait till you can’t pay a bill then we buy your stuff for Pennie’s on the dollar and resale it back at double the actual price

[@MARTINA-gc3tq]

If price is dictated by demand and supply then with the population of the USA increasing by millions every year then prices will continue to increase.

[@Blashmack]

In the long run they will, based on the reason you've said, yes.

[@bouchechhamdi816]

they do not find opportunities, they create opportunities: create a war that leads to destruction and then sign the reconstructions contracts.

[@deedetres703]

blackstone still skipping payments on investments but paying stockholders and executive bonuses?- nice model _ I could do that job - make me CEO - I can create an alternate reality too :)

[@ChadVanKlompenburg]

Aren't they defaulting on loans?

[@stephendavis7812]

When he said he was going to be more active, we didn't realize he would be packing his knee pads and heading (ha-ha) to China.

[@LisLast]

Please stay out of the housing market!!

[@jermainemitchell262]

Live below your means, fix your credit, work hard and you will be able to buy a home too.

[@stepheng5006]

Freudian slip. Steve says let’s see what happens and he looks down when he said there are surprises all the time. Hmm

[@andrewpierce1588]

Reform the corporate form. Tax the rich.

[@mikeutube7888]

What benefit do investment speculators serve by buying up apartments? They aren’t investors. Speculators of first order.

[@esdrasr.7517]

to come back is keyword

[@alwaysthinking2175]

just trying to keep investors to stay in BREIT

[@Cordycep1]

The investors gave them money so it has to be spent somewhere

[@koollee]

The Land of the Free

[@tylers.2069]

We need to look at how many properties these people own. I’m a republican but I will tell you to look up Robert Kennedy. He has a big issue with these giant corporations buying so much of the market. He can explain it better than me so look it up while you are sitting here pooping, scrolling through KZbin.

[@theodorearaujo971]

It should be illegal for large companies and especially investment funds to purchase single family homes. In reponse to this we should make it illegal to rent single family homes.

[@ChocoBeanChat]

I wonder if black stone will hire navy veterans.

[@Cloud_JOB]

❤

[@nunosilva6787]

This guy totally destroyed Thomson Reuters - Refinitiv

[@Sonic300X]

How has Joe made it to another Davos without getting fired?

[@zoner__]

Such a bore.

[@degdude9433]

i noticed with Jamie Dimon, every time Jamie praised Trump or said something critical of Democrats he tried to steer the convo away

[@nick-03]

Goat

[@robertorobles-od7tz]

~~~~~~~~~~~~~~~~~~ Make America Strong Again! ~~~~~~~~~~~~~~~~~~ MASA MASA, MUFASA MASA! … MASA MASA, MUFASA MASA! … MASA MASA, MUFASA MASA! ~~~~~~~~~~~~~~~~~~

[@CloseBoysAdventures]

Let's create policies to make horrible conditions in the cities and then when the good people sell this buy up their assets for cheap

[@Artzimer1958]

This makes me sick. These people never have enough. They are the ones who caused for the real estate properties to go up in price.

[@Ch3ckman]

Smart man

[@CloseBoysAdventures]

Can someone simplify this for me

[@Frank-Bloc]

Big money if directed properly can prop up a dying entity!!!

[@JorgeChicago1]

🇲🇽 Mexico 🇲🇽

[@jimherr152]

European real estate is unsurprisingly declining … the threat of war from Putin is suppressing the market, imo

[@Chino-bk9fd]

dodged that election question like a mf PRO!

[@salamandiusbraveheart4183]

They've all got their fingers in the honeypot

[@RyanMoney]

Student Loans… HINT: He knows the current administration will put the tax payers on the hook

[@anderbeau]

Why are they pretending to be outside? It’s weird.

[@dima-ty3td]

The best money are made during recessions.

[@koollee]

Noo. Good positions are taken during recessions.

[@joongchanoh2667]

Joe needs to quit CNBC already and start working for DT... gosh...

[@latinwaterpoloperez]

From the river to the sea

[@MichaelHollen]

We buy student loans because they don’t disappear in bankruptcy.

[@user-zi2gu4ry8x]

Things they can only do and the rest to watch!

[@jeffreyswing8174]

"... back in the fold ... bridges burned ...' What a stupid question and commentary. This man's success was not built on hypotheticals...........

[@Ricocase]

I wonder if the uber-rich get bored buying everything they don't need.

[@sundeeplal4663]

Singing in the praise of capitalism. People (& the corporation is a person under the law) are allowed to become so rich (read powerful). Buffett bailed out Goldman Sachs with an instant 5 billion loan (under very favorable terms presumably) The sharks have always eaten the smaller fish.

[@cpost1558]

This is awful! I can't believe they are openly talking about this as a good thing. I will never own a house thanks to this corporate greed!

[@africanwebsite]

Us loans sucks 😮

[@labandonaldhock80]

Swarsman is an outstanding human being. His father was the greatest ever.

[@AlexandertheGreat033]

Lol hardly. If he had morals I’d agree, but money means nothing if you are just evil.

[@labandonaldhock80]

@@AlexandertheGreat033 He is the nicest guy you will ever meet. If he had no morality, how did he get a trillion dollars to manage. He is smart and trustworthy.

[@AlexandertheGreat033]

@@labandonaldhock80 I have met him. Super nice face to face. His actions in RE and attitude towards middle class, the actions he’s taking at his company show me a huge lack of morals and caring for other humans.

[@salamandiusbraveheart4183]

What good things did he do for other people?

[@themadactivist]

We are having a lot of money... haha

[@Jake-pf4kv]

We need Mao

[@user-fy4lv6mf5n]

Why? So he can murder millions again?

[@aviaforrester1481]

pay it. theres the difference not including them.

[@razrabin]

36 B'$

[@jimross8150]

Buying up poor people's houses so they can rent them back out at higher rates

[@jamesfrancis5039]

I have to speed it up that guy just talks way too slow somebody wake him up give him some extra shot of espresso or something

[@bps7209]

It’s called being calm.

[@DrewskiOne]

He’s getting old

[@Blashmack]

Dude is almost 80 years old. What's the rush?

[@jamesfrancis5039]

@@Blashmack I agree I wish someone with the same policies would come forward at the younger dude, but not that new guy he’s only 38 he might be like a deer in headlights with the trouble the world is in right now

[@dianesullivan5338]

I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27k this month. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve.

[@HildaBennet]

Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a professional

[@beafoster747]

I wholeheartedly agree, which is why I choose to delegate my daily investment decisions to a coach. They specialized knowledge, research, and risk management skills make it challenging for them to underperform. They focus on utilizing risk for its asymmetrical potential while mitigating downsides. I've been with my investment coach for over two years and have earned over a quarter-million dollars.

[@PennyBergeron-os4ch]

Do you mind sharing info on the adviser who assisted you? I'm 49 now and would love to grow my stock portfolio and plan my retirement

[@beafoster747]

Google Sonya Lee Mitchell and do your own research. She has portfolio management down to a science

[@PennyBergeron-os4ch]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@stevekwan8232]

Wolf in sheeps clothing

[@jimvierengel8293]

It is past time to permanently turn off Joe’s mic

[@rhaviland1916]

worst company in amerca. and that is saying ALOT.

[@michaelkraft9181]

He comes off intelligible and kind, but man does wreak an evil spirit