Steve Schwarzman. Photo by Taylor Hill/FilmMagic via Getty.

Stephen Schwarzman, founder and CEO of The Blackstone Group, no longer plans to attend the Future Investment Initiative, hosted by Saudi Arabia's Crown Prince Mohammed bin Salman and the kingdom's sovereign wealth fund, Axios has learned.

  • This comes after earlier Wall Street withdrawals from J.P. Morgan CEO Jamie Dimon and BlackRock CEO Larry Fink.

What to watch: Blackstone's earnings call is this Thursday, and expect the investment giant to address the country's role as the cornerstone investor in a large global infrastructure fund that Blackstone continues to raise.

Go deeper

Updated 23 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.
2 hours ago - World

China embraces hostage diplomacy

Illustration: Sarah Grillo/Axios

The Chinese government is threatening to detain foreign citizens unless their home governments do what Beijing demands. In some cases, China has already made good on those threats.

The big picture: This marks a potential evolution of China's "wolf warrior diplomacy" to outright rogue state behavior, putting it in the company of countries like North Korea and Iran, which have also engaged in hostage diplomacy.

Justice Department sues Google over alleged search monopoly

Illustration: Lazaro Gamio/Axios

The Justice Department and 11 states Tuesday filed an antitrust lawsuit against Google, accusing the company of using anticompetitive tactics to illegally monopolize the online search and search advertising markets.

Why it matters: The long-awaited suit is Washington's first major blow against the tech giants that many on both the right and left argue have grown too large and powerful. Still, this is just step one in what could be a lengthy and messy court battle.

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