Blackstone Group LP Chief Executive Stephen Schwarzman pocketed at least US$567.8 million in 2018 dividends and compensation, making him yet again ...
NEW YORK: Blackstone Group LP Chief Executive Stephen Schwarzman pocketed at least US$567.8 million in 2018 dividends and compensation, making him yet again the private equity industry's highest earner, a regulatory filing showed on Friday.
Blackstone no longer discloses the dividend payment to the class of stock Schwarzman owns, but based on the US$2.15 per common unit payout, he received almost US$500 million in dividends. The dividend for Schwarzman's class of stock has historically been higher than for common units. In 2018, Gray received total compensation of US$87.8 million. His bonus was US$10 million, down from US$25.8 million a year earlier. This is due to Gray opting to receive US$30 million in stock which will vest over the course of 5-and-a-half years.Schwarzman earned much more than other co-founders of private equity firms. Apollo Global Management LP CEO Leon Black received US$252,617 in compensation and US$169.7 million from dividends in 2018.
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