Stephen Schwarzman Can't Help But Making Money Hand Over Fist: A Continuing Series
In related news: suck it, Hank Kravis.
The Blackstone co-founder received $645 million in dividends on his stock ownership in 2015, according to calculations based on the firm’s annual report filed Friday with U.S. regulators. Including his cut of deal profits, salary and other compensation, Schwarzman, who owns about 20 percent of the company, took home $734 million, up from $656 million the previous year...Schwarzman, 69, is poised to widen his gap as the wealthiest of the firms’ founders as New York-based Blackstone pays out more of its profits to shareholders than some peers. KKR, run by billionaire founders George Roberts and Henry Kravis, in October instituted a fixed quarterly dividend of 16 cents a share, instead of a payout policy that rises with profits, in an effort to grow its market value by investing more of its earnings in deals and new investment offerings.
Schwarzman Gets $734 Million in 2015 on Record Blackstone Profit [Bloomberg]
