Chinh Chu's Net Worth and Career Achievements
Chinh Chu is an American businessman with a net worth of $1.1 billion. He has accumulated this impressive net worth through his roles as Senior Managing Director & Co-Chair in the Private Equity Group at Blackstone Group LLC. Chu began his successful career at Salomon Brothers in the Mergers & Acquisitions Department before transitioning to Blackstone in 1990.
Educational Background
Chu holds a Bachelor of Science in Finance from the University of Buffalo, graduating summa cum laude.
Professional Career
Throughout his tenure at Blackstone, Chinh Chu has spearheaded numerous significant investments, including:
- Stiefel Laboratories
- ReAble Therapeutics' acquisition of DJ Orthopedics
- Biomet
- Catalent Pharma Solutions
- Alliant
- Celanese
- Nalco
- SunGard Data Systems
- Nycomed
- LIFFE
Besides these, Chu has played a pivotal role in Blackstone's investments in FGIC, Graham Packaging, Sirius Satellite Radio, StorageApps, Haynes International, Prime Succession/Rose Hills, Interstate Hotels, HFS, and Alco Holdings. He serves as a Director for several companies, including Alliant, BankUnited, BayView Financial, Healthmarkets, DJO Incorporated, Catalent Pharma Solutions, SunGard, and Graham Packaging.
Notable Achievements
In 2004, Chinh Chu was instrumental in executing the largest public-to-private buyout in European history, leading the takeover of the German chemical maker Celanese without resulting in any German layoffs.
Personal Investments and Properties
Chu is based at Blackstone's New York office and owns an opulent property at Trump World Tower. He purchased the entire 89th floor and half of the 90th floor for a total of $34 million. The penthouse covers 14,864 square feet, including 34 rooms, 12 bedrooms, and 16.5 bathrooms. Despite his efforts, he could not acquire the remaining portion of the 90th floor from his neighbor.
Board Memberships and Roles
Beyond his primary role at Blackstone, Chinh Chu is the Chairman, President, Assistant Secretary, and Chairman of the Compensation Committee at Graham Packaging Company, Inc. Additionally, he joined the board of directors at Freescale Semiconductor in February 2011 and is a member of the Compensation and Leadership Committee and Finance Committee.
