Chinh Chu Net Worth
Chinh Chu net worth: Chinh Chu is an American businessman who has a net worth of $1.1 billion. Chinh Chu has earned his net worth as Senior Managing Director & Co-Chair in the Private Equity Group at Blackstone Group LLC. Chu worked at Salomon Brothers in the Mergers & Acquisitions Department, before moving on to Blackstone in 1990. Chu received a BS in Finance from the University of Buffalo, where he graduated summa cum laude. In his current position he has led Blackstone's investments in Stiefel Laboratories, ReAble Therapeutics' acquisition of DJ Orthopedics, Biomet, Catalent Pharma Solutions, Alliant, ReAble Therapeutics, Celanese, Nalco, SunGard Data Systems, Nycomed, and LIFFE. He has also been involved in Blackstone's investments in FGIC, Graham Packaging, Sirius Satellite Radio, StorageApps, Haynes International, Prime Succession/Rose Hills, Interstate Hotels, HFS and Alco Holdings. Currently Chu serves as a Director of Alliant, BankUnited, BayView Financial, Healthmarkets, DJO Incorporated, Catalent Pharma Solutions, SunGard, Graham Packaging.
In 2004, Blackstone closed the largest public-to-private buyout in European history, in the takeover of German chemical maker Celanese, which resulted in no German layoffs. The deal closed due to the negotiating efforts, and business wisdom of Chu. He is based at the firm's New York office. Chu spent $34 million for the entire 89th floor and half of the 90th floor at Trump World Tower. The duplex penthouse includes 34 rooms, 12 bedrooms and 16.5 bathrooms, a total of 14,864 square feet. Chu wanted to own the whole 90th floor, he tried to buy out the neighbor that shares the 90th floor, but his efforts to claim the apartment failed. Chinh Chu is Chairman, President, Assistant Secretary and Chairman of Compensation Committee, Graham Packaging Company, Inc. Chu joined the board of directors at Freescale Semiconductor in February 2011. Mr. Chu is also a member of the Compensation and Leadership Committee and Finance Committee.