Steve Schwarzman, the CEO of Blackstone Inc., received a record $1.27 billion in compensation for 2022 as he continued to amass one of the largest fortunes in the world.
Schwarzman received about $1 billion in dividends alone and owns about 20% of Blackstone. Additionally, he received $253.1 million in pay, the majority of it coming from incentive fees and his share of carried interest profits from the funds.
Stephen A. Schwarzman is an American businessman and investor, and the co-founder and CEO of Blackstone Group, a global investment firm based in New York City. Schwarzman is one of the wealthiest people in the world, with a net worth estimated at over $20 billion as of 2021.
Schwarzman was born in Philadelphia in 1947 and attended Yale University, where he earned a BA in 1969 and an MBA in 1972. After graduation, he worked for several investment banks before co-founding Blackstone in 1985 with his business partner, Peter G. Peterson. Under Schwarzman's leadership, Blackstone has grown into one of the world's largest and most successful private equity and alternative asset management firms, with over $600 billion in assets under management as of 2021.
In addition to his work at Blackstone, Schwarzman is involved in a variety of philanthropic and civic activities. He has donated hundreds of millions of dollars to support education, cultural institutions, and other causes, and has served on numerous boards and advisory councils, including the President's Strategic and Policy Forum under President Donald Trump.
The reported earnings of 10,000 crores in a year would represent a significant portion of Schwarzman's overall net worth, and likely reflect the success of Blackstone's investments and the performance of the firm's portfolio companies during that period.
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