Saturday, 22 October 2016
Last updated 12 hours ago
Mar 3 2014 | 12:57pm ET
Blackstone Group founder and CEO Steven Schwarzman earned nearly $375 million last year as his firm sold off $38 billion in assets last year.
The lion's share of Schwarzman's money in 2013 came from cash distributions totaling $352.2 million—his share of Blackstone's investing success, stemming from his investments in Blackstone's fund. Schwarzman also received $21.6 million in carried interest and a $350,000 salary, Blackstone said in a Securities and Exchange Commission filing.
The total amounts to a 76% increase in Schwarzman's take-home from 2012.
Blackstone posted $3.5 billion in economic net income last year, also a 76% jump from the prior year. Distributable earnings were up 66%.