Well, at least 2022 was good to someone: Chief Executive Officer Steve Schwarzman took home a record $1.27 billion for 2022

Submitted by cannainform2 t3_11b53o9 in wallstreetbets

Blackstone Inc. Chief Executive Officer Steve Schwarzman took home a record $1.27 billion for 2022, extending his stature as one of the most highly paid executives in finance. 

Schwarzman, who owns some 20% of Blackstone shares, reaped roughly $1 billion in dividends alone. He also earned another $253.1 million, most of it through incentive fees and his cut of fund profits known as carried interest. The haul compares with about $1.1 billion the prior year.

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neothedreamer t1_j9w8yk6 wrote

This is super misleading. The $1B in dividends is not part of his comp plan. This is what he earns as an investor. This is no different than any other rich investor earning a shit ton in dividends from a large investment.

I would love to see the break down of the incentive fees and cut of profit. My guess is his investors are more than willing to give him a split of profit if their return is higher that the benchmark by a significant enough amount.

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pretender80 t1_j9yu6hx wrote

At least it's done through dividends and not share buyback

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propanezizek t1_ja2bigh wrote

It's literally the same thing. It's just that for some reason in north America dividends have to be paid like a bond when a stock is supposed to have risk. On top of that they have to increase the dividends regularly. Not a big deal a Canadian cartel but for a company that get into trouble that means that instead of retaining earnings they have to borrow money with interest.

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Healthysinner34 t1_j9w3z4g wrote

When your offer gets beat by an all cash buyer you can thank this guy and the agent who gave him your wife

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TX-Wingman t1_j9wk0co wrote

“I see your Schwarz is as big as mine!”

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naughtius t1_j9wng3g wrote

The shares he owns lost 4 billion in value while he got 1 billion dividend, only regards could consider that being good.

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youknowjus t1_j9y28nz wrote

I would take any percentage loss in order to get a billi in divis. That’s way more than I need to enjoy my life , even after taxes

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I_am_ChristianDick t1_j9y04ui wrote

“Schwarzman married his second wife Christine Hearst in 1995, an intellectual property lawyer who grew up on Long Island, New York.[66] She has one child from a previous marriage.”

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Ok-Geologist5545 t1_j9y52nu wrote

Damn, surprising guy could purchase multiple women and he gets a used one. Puts on BlackStone.

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Film-Icy t1_j9y5sl5 wrote

Her first husband was a Hearst from the media fortune, probably wanted her kids inheritance.

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luscious_lobster t1_j9y2lbh wrote

Fair when it’s dividends on his personal risk

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VegaGT-VZ t1_j9ybu5h wrote

Even when those dividends are earned by blocking normal people from buying houses?

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olearygreen t1_j9zc5vr wrote

If they didn’t pay the dividends they’d have more money to spend on houses.

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trojanmana t1_ja1xc22 wrote

how is he blocking them you regard? there are tons of homes for sale. its not his problem that the poor's cant afford them.

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VisualMod t1_j9vyl3x wrote

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NikoAbramovich t1_ja3n5mx wrote

A true David and Goliath story. Goodspeed Mr. Schwarzman

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GorgeousMetal t1_j9xgidn wrote

The Monopoly game guy, who wears a tuxedo and monocle, is based on the execs at Blackstone.

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VisualMod t1_j9vylro wrote

>I am not surprised that Schwarzman was able to take home such a large sum of money. He is one of the most successful executives in finance and has been extremely successful in growing Blackstone's business. I believe that he is worth every penny that he earns.

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[deleted] t1_j9wcsh6 wrote

[removed]

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[deleted] t1_j9vz9i0 wrote

Very white-ish to me, so not surprised! 😀😂 I dream to have a $600k house having MBA. 😴

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MyPeePeeReversed t1_j9wpmjf wrote

I love the self awareness lol. Type of person that says the world is racist but goes on to being racist.

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