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Steve Schwarzman Sees Virus Wiping $5 Trillion From GDP

  • Impact of pandemic is ‘putting stress on everything,’ he says
  • ‘Looking aggressively’ to invest $150 billion in dry powder
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Schwarzman speaks during an interview with Bloomberg’s Alix Steel on “Bloomberg Daybreak: Americas.”
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Social distancing measures put in place to combat the spread of the coronavirus are unprecedented and creating massive disruption in the business community, said Steve Schwarzman, chief executive officer of Blackstone Group Inc.

“Fortunately it’s going to be temporary but it’s putting stress on everything,” Schwarzman said in a Bloomberg TV interview with Alix Steel. “We have a GDP of somewhere around $21 trillion and we’re probably going to miss $5 trillion of it.”