Stephen Schwarzman Compensation

Blackstone’s Schwarzman #1 in Chief Executive Pay

The CEO of Blackstone Group, Stephen Schwarzman, is the highest-paid chief executive in the United States. Most of his compensation–$699.8 million of a total $702.4 million–comes from when the private equity firm went public in 2007 and Schwarzman received equity grants. Last week, we saw the Blackstone Group surprise analysts with better than expected earnings for Q2 2009. With Mr. Schwarzman’s equity grants vesting over the next four years he is expected to remain at the top of the list of highest paid CEOs for the next few years, at least.

The Blackstone Group has disputed including his stock as compensation considering as founder, Schwarzman had an initial investment in Blackstone: “This is absurd,” said Blackstone spokesman Peter Rose. “At the time of the IPO, Steve (Schwarzman) received stock in exchange for his partnership interest in Blackstone. This vests over a number of years. In no sense does the stock he owns as it vests become compensation.” (Source) Without the stock, his compensation is significantly less (yet still impressive) with a base salary of $350,000 according to SEC filings in 2008

For several videos of Stephen Schwarzman and stories related to Blackstone Group (BX) please see our Private Equity Tracker Profile for Blackstone

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