By Miriam Gottfried
It's good to be Steve. Blackstone CEO Steve Schwarzman took home just over $1 billion in compensation and dividends in 2024, according to the firm's annual financial filing.
As in prior years, the bulk of that, some $916 million, came from dividends on Schwarzman's roughly 20% stake in Blackstone.
The private-equity titan, whose net worth Forbes pegs at $48.2 billion, also received $84 million from Blackstone. Virtually all of that was carried interest tied to the performance of Blackstone's investments.
Schwarzman is paid a $350,000 salary.
Blackstone pays out all of its distributable earnings to shareholders. Those were up 18% in 2024, helping Schwarzman's haul come in 11.5% higher than in 2023. His total earnings still fell short of the record $1.2 billion he got in 2022.
Blackstone's stock posted strong performance in 2024, returning 35% including dividends, compared with a 25% total return for the S&P 500. The firm's market capitalization of $197 billion now ranks it among the 50 biggest U.S. companies by that metric.
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(END) Dow Jones Newswires
February 28, 2025 17:09 ET (22:09 GMT)
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