Blackstone’s Schwarzman Has $375 Million Payout on ’13 Exits
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Blackstone Group LP chief Steve Schwarzman received $374.5 million last year in pay and cash dividends, an increase of 76 percent from 2012, as the world’s biggest alternative-asset manager took advantage of rising equity markets to sell shares of companies.
Schwarzman, the billionaire chief executive officer of New York-based Blackstone, was paid a $350,000 salary and got $21.6 million in carried interest, or his slice of investment profits, the company said today in a filing with the U.S. Securities and Exchange Commission. The 67-year-old also received $352.5 million in cash distributions during the year from his ownership of partnership units in the company he co-founded in 1985 as a leveraged-buyout group.