Published On: Sat, Feb 27th, 2016

Blackstone CEO Stephen Schwarzman took home $810.6 million in 2015

UCLA Anderson Center For Finance & Investments Presents R.O.I. '07

 

Stephen Schwarzman, co founder of private equity Blackstone Group, which manages some $336 billion in assets,  made $734 million in 2015, according to Devin Banerjee at Bloomberg, who crunched the numbers on Blackstone’s annual report filed on Friday. That includes his cut of deal profits, dividends on his stock ownership,  salary, and other compensation.

The son of a dry goods store owner, Schwarzman, 69, is ranked by Forbes as the 100th richest man in the United States, with an estimated net worth of $12 billion.

Schwarzman, the subject of a book by David Carey and John Morris, “King of Capital, “ ranks as the richest man in private equity, and one of the richest men in America.

According Reuters the hefty payout represented a 17 percent rise in Schwarzman’s earnings compared with 2014, in line with a solid rise in Blackstone’s cash earnings last year.

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, a regulatory filing showed on Friday, Reuters reports.

Blackstone President Tony James took home $236.2 million last year, the filing showed.

James’ earnings comprised $75.9 million in compensation, $89.5 million in dividends from his Blackstone shares, $68.5 million for his investments in Blackstone funds, and $2.3 million for tax benefits related to his stake in Blackstone before the firm’s initial public offering.

In contrast, the co-founders of Blackstone’s rival, KKR & Co , collected less earnings last year as a decision to cap KKR’s dividend at 16 cents a share for each quarter reduced their payouts.

Henry Kravis took home $165.1 million last year, down nearly a quarter from 2014, with dividends accounting for $112.8 million, a filing late on Friday showed.

The earnings of his co-founder and cousin George Roberts also fell by a quarter to $172 million.

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