Megan Greenwell

“If it doesn't play a role in your life yet, just wait. Private equity is everybody's problem now.”
― Megan Greenwell, Bad Company: Private Equity and the Death of the American Dream

“Blackstone, which is both the world’s largest private equity firm and the nation’s largest landlord, is explicit about how America’s affordable-housing crisis benefits its shareholders: “a structural shortage of housing has resulted in pricing power for rental housing assets,” it wrote in a 2023 letter touting its growing investor returns. The firm has also poured millions of dollars into fighting ballot measures designed to expand rent-control protection in California. In 2019, a United Nations committee labeled Blackstone’s involvement in the housing industry a human rights concern, writing in a letter to CEO Stephen Schwarzman that the firm was “having deleterious effects on the right to housing” through buying up houses and apartment buildings and opposing regulation.”
― Megan Greenwell, Bad Company: Private Equity and the Death of the American Dream