Stephen Schwarzman Net Worth

Stephen Allen Schwarzman Net Worth

Real Name: Stephen Allen Schwarzman
Date of Birth: 02/14/1947
Place of Birth: Huntingdon Valley, Pennsylvania

2019 Net Worth: $10.7 Billion
2018 Earnings: $465.4 Million

Profession: CEO Blackstone Group

Stephen Schwarzman Biography

Stephen Schwarzman was born in Pennsylvania, the son of a dry-goods store owner. Schwarzman attended Yale University and was just one year behind George W. Bush. He then went on to graduate from Harvard Business School in 1972.

Schwarzman’s first job was with the now defunct investment bank Donaldson, Lufkin &Jenrette. He moved onto Lehman Brothers, another investment bank, where he became the managing director by the time he reached 31 years old. Soon he was the head of Lehman Brothers’ Global Mergers and Acquisitions division. In 1985, Schwarzman and his boss started Blackstone, a private equity company which also conducts mergers and acquisitions. Blackstone went public in June of 2007. The IPO earned Schwarzman almost $400 million; he later sold part of his shares for $684 million. His remaining stake was then worth $9.1 billion.

Schwarzman has a well-diversified portfolio with holdings in SeaWorld Park, Hilton Worldwide Holdings, and Merlin Entertainments.

In 2007, Schwarzman celebrated his 60th birthday at the Armory on Park Avenue. He asked for Rod Stewart to perform live. Schwarzman paid Stewart $1 million for a half hour performance.

Schwarzman has spent more than $100 million on various properties including a Park Avenue apartment that previously belonged to John D. Rockefeller, an enormous estate in the Hamptons, a mansion in both Palm Beach and St. Tropez and a villa in Jamaica. The Park Avenue apartment alone is valued at $37 million.

Schwarzman is one of the wealthiest men in America. He has a net worth of $10.7 billion due to his stake in Blackstone. His current 2013 earnings of $465.4 million are just about double his 2012 earnings of $229.3 million.

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