February 27, 2016

Private Equity CEO Earned $799 million Last Year

Steve Schwartzman and his wife Christine

[From article]
Blackstone CEO Steve Schwarzman earned an impressive $799.2 million in 2015, making him the wealthiest man in private equity, it was revealed Friday night.
Schwarzman’s compensation was up from $689.3 million in 2014 after a record year for Blackstone Group LP, the Wall Street Journal reported.
[. . .]
Schwarzman and his wife, Christine, are prominent on the philanthropy and social circuit. He gave $100 million to the New York Public Library in return for having his name inscribed on two stone pedestals flanking the main entrance. He gave $10 million to DC’s Kennedy Center over 10 years, and $100 million to create a scholarship program at Beijing’s Tsinghua University. He also gave $150 million to his alma mater, Yale.
But in a 2008 New Yorker interview, Schwarzman — who came from humble beginnings as the son of a Pennsylvania dry-goods store owner — said, “I don’t feel like a wealthy person. Other people think of me as a wealthy person, but I don’t. I feel the same as when I was a fifth-year associate trying to make partner at Lehman Brothers. I haven’t changed.”


Blackstone CEO raked in $799M in 2015
New York Post
Page Six
By Emily Smith
February 26, 2016 | 9:53pm

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