Blackstone’s Baratta and Chae Join Schwarzman as Billionaires

Steve Schwarzman and Jon Gray have long been the public faces of Blackstone Inc.’s billionaire elite, but more of the buyout giant’s top brass are fitting that description these days.

Joseph Baratta and Michael Chae now have fortunes of more than $1 billion each through the world’s largest alternative-asset manager, according to the Bloomberg Billionaires Index, expanding a small group of executives at Wall Street firms joining their founders among the mega-wealthy.

Joseph Baratta

Photographer: Christopher Goodney/Bloomberg

Baratta, 54, global head of private equity strategies, and Chief Financial Officer Chae, 56, have a combined net worth of at least $2.4 billion, according ...