On the back of a flurry of fruitful asset sales the New York-based private equity firm Blackstone has returned a record amount of cash to its shareholders.
According to a recent article by Reuters the Blackstone Group CEO Stephen Schwarzman went home with a massive $810.6 million in 2015.
Founded in 1985 by Schwarzman and Peter G. Peterson with $400,000, the Blackstone Group now manages over $336 billion worth of assets and is a global leader in traditional buyout, growth equity, special situations and secondary investing.
Humble Beginnings
Last Friday in the U.S. a regulatory filing showed that Schwarzman received $89.5 million in compensation, $644.8 million in dividends from his Blackstone shares, $65.6 million for his investments in Blackstone funds, and $10.8 million for tax benefits related to his stake in the company before its 2007 listing.
From a humble background, the son of a dry goods store owner, Schwarzman is currently ranked by Forbes as the 100th richest man in the United States, with an estimated net worth of $12 billion. He owns homes in Manhattan, St Tropez, Florida and Jamaica.
