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Blackstone's 'Gordon Gekko' joins ranks of global billionaires
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Blackstone's 'Gordon Gekko' joins ranks of global billionaires

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Blackstone's 'Gordon Gekko' joins ranks of global billionaires

The boss of Blackstone’s hedge fund business, who was supposedly the inspiration for Gordon Gekko in the iconic film Wall Street, has become a billionaire on the back of a surge in the private equity group’s share price.

James Tomilson Hill, known as Tom, owns 17.4m shares in Blackstone, according to a recent regulatory filing, which are now valued at around $580m. The group’s shares have jumped almost 60pc in 12 months on the back of soaring profits in its private equity, property and hedge fund businesses.

The New York-based Mr Hill, who shot to fame as an advisor on some of the biggest takeovers in the 1980s, has also benefited from a steep rise in the value of his extensive art collection. The collection, which includes paintings by Rubens, Francis Bacon and Andy Warhol as well as a raft of Renaissance bronzes, is thought to be worth around $500m, according to analysis by Bloomberg.

Mr Hill, 66, who is mentioned in Barbarians at the Gate for his role on the leveraged buy-out of RJR Nabisco, now heads Blackstone Alternative Asset Management which finances and invests in hedge funds. His division’s hedge fund assets have more than doubled since 2008 to $58bn. The firm listed in New York in 2007.

The former banker is the fifth Blackstone boss to join the ranks of global billionaires, including Steve Schwarzman and Peter Peterson who founded the firm in 1985. Tony James, president of Blackstone, has a $1.1bn stake in the company while Jonathan Gray, head of real estate, became a billionaire last year.

Mr Hill owns four Bacon paintings, thought to be worth $140m, according to Bloomberg. The financier also owns Warhol’s1962 Campbells Soup Can which he bought for $340,000 in 1996. In 2010 a similar sized painting from Warhol’s soup can series sold for $9m. His collection of bronzes have included Hubert Le Sueur’s “Venus” which belonged to Louis XIV. “I am ferociously competitive as a collector, just like I am in my business,” Hill once said.

Blackstone's 'Gordon Gekko' joins ranks of global billionaires - Telegraph

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