Friday, 31 October 2014
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%.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.