Private equity has become an enormous and influential force in the global economy, a transformation discussed in this week's Beyond The Billions. Forbes Deputy Editor Giacomo Tognini and Staff Writer Hank Tucker trace the industry's history, starting with the mid-1970s founding of KKR by Henry Kravis, George Roberts, and Jerry Colberg, and leading up to the rise of current giants such as Steve Schwarzman's Blackstone.<br /><br />This exclusive world is now facing a massive shift that could open it up to everyday retirement savers. To understand this high-stakes game, learn how firms like Blackstone and Apollo are establishing partnerships with asset managers such as Vanguard. Additionally, new regulations regarding 401k investments may soon have a direct impact on your future savings.<br /><br />00:00 This Week’s Billionaires Recap<br />03:32 What Exactly IS Private Equity?<br />05:38 How the Private Equity Empire Was Built<br />08:36 The Founders Who Got Filthy Rich Off PE<br />12:17 The Race For The $29 Trillion Retirement Pot<br />24:55 Vanguard And Blackstone Team Up: Investing Titans Merge<br />28:41 Weighing The Risks vs. The Diversification Benefit<br /><br />To read more about private equity’s move to access $29 trillion in retirement savings: https://www.forbes.com/sites/hanktucker/2025/07/24/private-equitys-29-trillion-retirement-savings-opportunity-under-trump/<br />To read more about Trump’s executive order paving the way for 401(k) providers to offer access to private equity investments:<br />https://www.forbes.com/sites/hanktucker/2025/08/08/private-equity-firms-celebrate-trumps-executive-order-giving-them-the-keys-to-retirement/<br />To read more about Mercor’s self-made billionaires: https://www.forbes.com/sites/richardnieva/2025/10/30/mercor-youngest-self-made-billionaires/<br />To read more about Steve Huffman and Reddit: https://www.forbes.com/sites/monicahunter-hart/2025/11/02/reddits-ceo-debuts-as-a-steve-huffman-billionaire-20-years-after-cofounding-the-company/<br />To read more about Meta’s share drop and Mark Zuckerberg’s decline in wealth: https://www.forbes.com/sites/tylerroush/2025/10/30/mark-zuckerberg-loses-25-billion-now-worlds-fifth-richest-as-meta-shares-plummet/<br /><br />Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br /><br />Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br /><br />https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br /><br />Stay Connected<br />Forbes newsletters: https://newsletters.editorial.forbes.com<br />Forbes on Facebook: http://fb.com/forbes<br />Forbes Video on Twitter: http://www.twitter.com/forbes<br />Forbes Video on Instagram: http://instagram.com/forbes<br />More From Forbe
