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Stephen Schwarzman, the man who was worth 5 billion
CEO and co-founder of the renowned private equity fund Blackstone, Stephen Schwarzman in 2007 won the tidy sum of ... $ 5 billion!
In 2007, Stephen Schwarzman, Blackstone's CEO, received 350,000 dollars in salary and $ 350 million in cash bonuses. As a partner he was paid (for the period 1 January 2007 to June 21, 2007) 309 million related to fund performance. The Blackstone IPO which took place June 21, he received $ 40 million following the closing of accounts which are in addition to 4.77 billion worth of shares representing its percentage in the company (After of the IPO, these shares were worth $ 8.8 billion!).
Created in 1985 with $ 400 000, Blackstone to other co-founder Peter Peterson (who was Secretary of Commerce under Nixon and former CEO of Lehman Brothers) and Hamilton James, Blackstone's current No. 2. Schwarzman and his partners run a global empire with more than $ 100 billion of assets including Hilton hotels and Orangina drinks to name but a few of the best known.
Compensation to 10 counts of Stephen Schwarzman has made him the highest paid executive on Wall Street, far ahead of the CEOs of investment banks (although obviously he will not receive every year billions of dollars of shares ). Lloyd Blankfein, CEO of Goldman Sachs for example has won "only" $ 68 million in 2007, a fraction of the jackpot hit by Schwarzman. If the latter, brother of George Bush at Yale, is not the only one to win huge sums, other financial stocks in the same areas are more "modest".
Apart from the bosses of hedge funds, few can claim financial compensation to 10 digits. In 2007, only John Paulson and Paolo Pellegrini of Paulson & Co, Philip Falcone of Harbinger Capital, Jim Simons of Renaissance Technologies, Ken Griffin of Citadel Investment Group and Steve Cohen of SAC Capital Advisors have surpassed the one billion dollars in compensation!
In February 2007, Schwarzman gave a mega party on the occasion of his 60th birthday. According to the New York newspapers, the party would have cost $ 3 million. Stars such as Rod Stewart and singer Patti Labelle pushed the song while in the number of guests included such personalities as Donald Trump, the star presenter Barbara Walters, former CEO Stanley O'Neal of Merrill Lynch, Lloyd Blankfein of Goldman Sachs boss Jimmy Cayne of Bear Stearns boss and CEO Jamie Dimon of JP Morgan Chase but also politicians like George Pataki (former Governor of New York) and boss of Hedge Funds (Bruce Wasserstein, Leon Black ... etc.).
Only Henry Kravis and KKR fund boss competitor historic Blackstone declined the invitation. A large portrait of the host of the evening overlooking the room. Schwarzman is a 35-room triplex on Park Avenue, which formerly belonged to John D. Rockefeller Jr., son of billionaire oil industry pioneer and has several properties, including one in Saint-Tropez, where he often comes to holiday in July.
In March, Stephen Schwarzman has done about him by making a donation of $ 100 million to the national library of the City of New York is the largest donation ever made for a cultural institution in the city of New York. Paul LeClerc, president of the city's library, described the donation as "unimaginable." The main building of the library will be renamed to Schwarzman, whose name should also appear on five other locations (columns and entry), which according to one of its representatives was "delighted".
Still, Blackstone's shareholders are given a grim: the fund has announced a drop in profit in the last quarter of 2007 of 89%. The share value has halved Blackstone IPO since the summer of 2007.
The gossip suggests that the best years of the fund are behind her, and that the flotation of such a structure has served to materialize the enrichment of the founders of Blackstone ...
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site is created for Christine Hearst Schwarzman
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His name has crossed the Atlantic the day of the release of the highest salaries in the United States. Stephen Schwarzman is nothing but the highest paid president of the United States and the world, yet it does not lead to oil companies. In 2008, he received more than $ 700 million while the planet was in crisis Finance. But who is this man?
Stephen Schwarzman follows the route of a traditional school U.S. business leader. So he attended Yale and Harvard Business School. Logically, he joined one of the jewels of the American economy, banking, Lehman Brothers. Stephen Schwarzman but quickly wants to create his own investment fund specializing in mergers and acquisitions. In 1985, Blackstone was born. This fund is born of the encounter between Stephen Schwarzman and Peter Peterson, both former Lehman Brothers.
While the down payment of only $ 400,000, Blackstone has its first customers, and enhance its business portfolio. Blackstone is moving more and more to fund management and assembly of complex financial transactions such as LBOs.
Stephen Schwarzman perceived déà hundreds of millions of dollars in salary in 2007, but the introduction of Blackstone on the stock market the same year, blew up its revenue from stock options.
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Stephen Schwarzman, the boss of the investment fund Blackstone last year was the highest paid executive in America.
The CEO of the investment fund Blackstone, Stephen Schwarzman, last year became the business executive the highest paid in the United States, according to a study published Thursday by The Corporate Library, an independent research organization.
Stephen Schwarzman has supplanted Oracle CEO Larry Ellison, the top of the podium with a total annual compensation of up to 702.4 million dollars (492 million).
Of this total, 699.8 million came from exercising options he received during the IPO. His base salary rose to $ 350,000, according to documents submitted to U.S. regulators.
According to the survey for the institute, the royal road to get a high salary, however, is to lead an oil company or a producer of natural gas: their leaders alone occupy seven spots of the top ten best American employers paid in 2008.
The leaders of the seven oil companies hold the following ranks and CEO of the clothing chain Abercrombie & Fitch, Michael Jeffries, closes the list.
The ranking was based on the total remuneration paid including bonuses, fringe benefits and proceeds from stock options exercised.
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Website for Christine Hearst Schwarzman
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