Blackstone CEO Schwarzman took home $610 5 million in 2020 reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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(Reuters) - Blackstone Group Inc Chief Executive Stephen Schwarzman pocketed at least $610.5 million in 2020 from dividends and compensation, more than any other private equity executive and up 20% from last year despite the impact of the COVID-19 pandemic, regulatory filings showed.
FILE PHOTO: Stephen A. Schwarzman, chairman and CEO of Blackstone, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2019. REUTERS/Arnd Wiegmann/File Photo
The majority of the windfall stemmed from Schwarzman’s 19.3% stake in Blackstone. Its distributable earnings jumped 16% year-over-year in 2020 as the world’s largest manager of alternative assets such as real estate and private equity capitalized on the capital market’s rally following the Federal Reserve’s moves to support the U.S. economy during the pandemic.