Until 2011, Stephen Schwartzmann had hit a dry spell. It had been two years since he last earned more than $700 million in one year. The Blackstone CEO earned $702 million that year, to be precise, according to Paul Hodgson on GMI Ratings. After reaching that rarified mark in 2008, Schwartzmann “‘earned’ only $458 million (in ’09), and in 2010 only $408 million,” the article states.
The Blackstone Group “is an American-based alternative asset management and financial services company,” according to Wikipedia.
Hodgson points out the total earnings include items buried hither and yon throughout the annual report, where he had to dig for them. He found categories called carried interest, incentive fees, legacy funds and partnership units. “All in all, this is a very large amount of money, even though some of it was Mr. Schwarzman’s in the first place. Over the five years, we are talking about basically $2.5 billion,” he writes.