He is the chairman of the private equity firm Blackstone's tactical opportunities division and managing partner of the NHL's New Jersey Devils and NBA's Philadelphia 76ers.
Blitzer graduated from Penn's Wharton School and joined Blackstone in 1991, where he served as the firm's global head of tactical opportunities from 2012 until transitioning to chairman in 2024.
[3][4] Blitzer began contemplating investing in sports after meeting Apollo Global Management co-founder Josh Harris in 2008 at The Punch Bowl, a pub in London.
[8][9] In August 2013, Blitzer and Harris purchased the New Jersey Devils of the National Hockey League (NHL) and their arena, the Prudential Center, for $320 million.
[10] Blitzer and investor David Abrams headed a group that owned 50% of the Scranton/Wilkes-Barre RailRiders, the Triple-A affiliate of the New York Yankees, from 2014 until selling to Diamond Baseball Holdings in 2021.
[20][21] Blitzer is the first person to hold team equity in the five major sports leagues of North America: the NBA, NHL, NFL, MLS, and MLB.
[31][32] The same year, Blitzer invested in the return of SlamBall, a basketball league combining elements of other sports,[33] and bought a minority stake in Joe Gibbs Racing by way of HBSE in 2023.
[1] He is on the board of trustees of Mount Sinai Health System and Wharton School and is a donor to Hillel International, an organization helping Jewish students.