Written By Stephen A. Schwarzman, the billionaire founder of private equity firm Blackstone Group Inc., is no stranger to success. He’s been a titan of industry for years and continues to break records with his impressive earnings. According to Forbes, Schwarzman earned over $1 billion for the second year in a row—making him one of the world’s highest-paid executives in 2019. So what exactly did he do to make that kind of money? In this blog post, we will take a look at how Schwarzman made his billions and what lessons we can learn from his success.
Who is Stephen Schwarzman?
Stephen Schwarzman is an American businessman, investor, and philanthropist. He is the co-founder, chairman and CEO of The Blackstone Group, a global private equity firm. Schwarzman has a net worth of over US$20 billion as of 2020, making him one of the richest people in the world.
Born in Philadelphia, Pennsylvania, Schwarzman graduated from Yale University in 1969 with a Bachelor of Arts degree in political science. He then earned a Master of Business Administration from Harvard Business School in 1972. After working at Lehman Brothers and Donaldson, Lufkin & Jenrette for several years, Schwarzman co-founded The Blackstone Group with Peter G. Peterson in 1985.
Under Schwarzman’s leadership, Blackstone has grown to become one of the world’s largest alternative investment firms, with over $571 billion in assets under management as of 2020. The firm’s businesses include private equity, real estate investing, credit investing, hedge fund solutions, capital markets services, and financial advisory services.
In addition to his role at Blackstone, Schwarzman is also a philanthropist and author. He has donated billions of dollars to charitable causes through his foundation, including education initiatives such as the Stephen A. Schwarzman Scholars program at Tsinghua University in Beijing and the Schwarzman Center at Yale University. He has also written two best-selling books:Black Edge: Inside Information Wars That Threaten America’s Security (2017) and What It Takes:
How much money does he make?
According to Forbes, Schwarzman made $1.36 billion in 2018, which is down from the $1.7 billion he made in 2017. However, Schwarzman’s net worth is still an estimated $12.4 billion, making him one of the richest people in the world. The majority of Schwarzman’s wealth comes from his stake in The Blackstone Group, a private equity firm he co-founded in 1985.
What does he do with his money?
According to Forbes, Schwarzman earned a total of $4.15 billion in 2018, making him the highest-paid CEO in the world. The bulk of his income came from his stake in Blackstone Group, the private equity firm he co-founded in 1985. Schwarzman also cashed out $845 million worth of stock options last year.
So what does he do with all that money? Well, Schwarzman is known for his lavish lifestyle. He owns a Park Avenue apartment that’s reportedly worth $70 million, and he spends lavishly on travel and entertainment. He once spent $3 million on a party for himself, and he’s been known to drop hundreds of thousands of dollars on wine at auction.
But Schwarzman isn’t all about spending money frivolously. He’s also a generous philanthropist, donating millions of dollars to causes like education and medical research. In fact, he recently pledged $100 million to help build a new campus for the Massachusetts Institute of Technology (MIT). So while he may enjoy the finer things in life, it’s clear that Schwarzman also cares about making a difference with his wealth.
How did he make his fortune?
Stephen Schwarzman is an American businessman and investor. He is the co-founder, chairman and CEO of The Blackstone Group, a global private equity firm. He has a net worth of over $17 billion as of 2019.
Schwarzman was born in Philadelphia, Pennsylvania in 1947. He received a Bachelor of Arts degree in economics from Yale University in 1969. After graduation, he worked for Lehman Brothers as an investment banker. In 1985, he co-founded The Blackstone Group with Peter Peterson. Schwarzman has been the chairman and CEO of the firm since its inception.
The Blackstone Group has invested in many companies including Hilton Worldwide, Merlin Entertainment and Equinox Fitness Clubs. In 2007, the firm acquired Equity Office Properties for $39 billion, which was the largest buyout in private equity history at the time. Schwarzman himself has made many personal investments including in education and real estate.
In 2018, Forbes ranked Schwarzman as the 62nd richest person in the world with a net worth of $13 billion. In 2019, his net worth increased to $17 billion making him one of the 100 richest people in the world according to Forbes.
What are some of his investments?
Stephen Schwarzman is the Chairman and CEO of The Blackstone Group, a leading global investment firm. He is one of the world’s most successful investors, with a net worth of over $14 billion.
Some of Stephen Schwarzman’s investments include:
1) Blackstone Group: Schwarzman is the chairman and CEO of Blackstone, one of the world’s largest private equity firms. Blackstone has invested in some of the most successful companies in the world, including Hilton Worldwide, Japan Airlines, and Merlin Entertainment Group.
2) MagicJack: Schwarzman is an investor in magicJack, a VoIP service that allows users to make free calls to any phone number in the world. MagicJack has over 10 million users and is available in over 50 countries.
3) Goldman Sachs: Schwarzman was a top executive at Goldman Sachs prior to founding Blackstone. He remains an active investor in Goldman Sachs, owning over $300 million worth of shares. Goldman Sachs is one of the largest investment banks in the world and has played a major role in some of the biggest deals in history, including Facebook’s IPO.
4) Wynn Resorts: Schwarzman is an investor in Wynn Resorts, a leading global provider of luxury hotels and casinos. Wynn Resorts owns and operates some of the most prestigious properties in the world, including Wynn Las Vegas and Encore Macau.
What is his net worth?
According to Forbes, Schwarzman has a net worth of $13.5 billion as of March 2019. This makes him the 48th richest person in the United States and the 106th richest person in the world.
Conclusion
Clearly, Stephen Schwarzman is a very savvy businessman and investor. His success in the business world has allowed him to earn more than $1 billion for the second year in a row, proving that hard work and dedication can pay off. Whether you are looking to build your own fortune or just want some inspiration for achieving your goals, we hope his story will provide motivation and guidance on how to become successful.
