Schwarzman, who owns some 20% of Blackstone shares, reaped roughly $1 billion in dividends alone. He additionally earned $253.1 million in compensation, most of it by means of incentive charges and his minimize of fund income often known as carried curiosity. 

The annual haul, up from about $1.1 billion a yr earlier, underscores Schwarzman’s standing as certainly one of Wall Road’s highest earners — with a internet price of $30.6 billion, in line with the Bloomberg Billionaires Index. It additionally demonstrates how tightly his fortune is tied to the agency he co-founded greater than three many years in the past. 

“I personal plenty of inventory, and I spend money on all of our funds, so the agency is my household workplace,” Schwarzman, 76, stated at an trade convention this yr.

His inheritor obvious as CEO, Blackstone President Jon Grey, collected $479.2 million in 2022. That included $182.7 million from dividends tied to a roughly 3% stake within the agency. That is a rise from the prior yr. 

Although neither is paid an annual money bonus, they nonetheless acquire greater than the CEOs of Wall Road’s largest funding banks, the place compensation packages for the highest brass normally tally into the tens of hundreds of thousands. Many financial institution CEOs took pay cuts in a troublesome yr for monetary markets. 

Certainly, Blackstone lowered Grey’s newest inventory bonus, saying it would pay him $30 million for 2022, down from $38 million within the prior yr.  

Blackstone’s fundraising machine slowed final yr, and market swings hampered new offers. A crown jewel property fund for rich traders, the Blackstone Actual Property Earnings Belief, confronted a line of traders wanting out, prompting it to restrict redemptions.  

Nonetheless, Blackstone’s dealmakers have been capable of generate extra from promoting out of offers in 2022 than the prior yr. Gross sales of plum holdings, similar to The Cosmopolitan of Las Vegas, lifted income out there to shareholders. The agency cranked out extra fee-related earnings as belongings beneath administration reached simply shy of $1 trillion. 

“Blackstone has a performance-driven compensation mannequin that’s constructed on long-term alignment with our traders,” a spokesman stated in an announcement. The agency delivered file distributable earnings and realized a few of its most worthwhile fund investments final yr, he stated.

The dividend for 2022 rose to $4.40, up from $4.09 a yr earlier.

Final yr, Blackstone’s shares delivered complete losses of 40%, when accounting for dividends. Against this, the S&P 500 delivered 18% complete losses. The inventory has since generated some 21.2% in complete returns this yr, outpacing the S&P.

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