Blackstone (NYSE:BX) shares dropped in last trading session as by the end of 2025, the business plans to recruit 2,000 refugees throughout its worldwide portfolio firms and real estate sites, including 1,500 in the United States alone. As part of the agreement, Blackstone will join Tent, a non-profit network of large corporations dedicated to assisting refugees globally. Too far, Blackstone’s portfolio firms and real estate holdings have employed almost 500 refugees from all over the world, including Afghanistan, Ukraine, El Salvador, and Guatemala. Additionally, Blackstone has joined the Welcome.US CEO Council, an endeavor to expedite and scale business sector assistance for Afghan and Ukrainian refugees.
With over 250 portfolio firms and over 12,000 real estate assets, Blackstone has used its size to create the Veterans Hiring Initiative, through which more than 100,000 U.S. veterans, military spouses, and caregivers have been employed throughout its portfolio. Blackstone thinks that this new collaboration with Tent will improve the lives of those who have left war, violence, conflict, or persecution and crossed an international boundary to seek shelter in another country. To assist refugee recruiting initiatives, Blackstone will continue to collaborate with its portfolio firms, third-party property managers, and joint venture partners.
Blackstone aims to collaborate with refugee resettlement groups such as Tent, as well as national and local resettlement agencies, to guarantee that all individuals involved in refugee recruiting initiatives have the tools and resources needed to hire, promote, and train these new workers.
Chairman and CEO of the firm, Stephen A. Schwarzman stated that at Blackstone, they believe diverse teams make stronger companies. Their unique platform has already supported nearly 500 jobs for refugees globally, bringing valuable talent into their portfolio’s workforces. They are proud to release this commitment and will work hand in hand with on-the-ground teams at their portfolio companies and properties.
The Global Co-Head of Blackstone Real Estate and Welcome.US CEO Council Member, Kathleen McCarthy said that the benefit of Blackstone is their tightly integrated strategy to constructing resilient organizations and buildings at scale. Today’s promise to recruit 2,000 refugees throughout their portfolio highlights our team’s intense emphasis on this initiative and allows their portfolio firms and real estate properties to accept a diverse range of backgrounds, identities, and experiences.
