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Blackstone Group chief executive and co-founder Stephen Schwartzman received the highest dividend and compensation income of any US private equity fund director last year. He was paid at least $610.5 million in dividends and compensation, a 20% increase from 2019, Reuters reported, citing a statement from the regulator and documents it submitted.
Most of the income came from Schwartzman's 19.3% stake in Blackstone. The investment fund's profits were up 16% year-on-year in 2020. The 74-year-old CEO received compensation of $86.4m and dividends of $524.1m from his Blackstone shares, the statement said. Forbes estimates Schwartzman's fortune at $22.7bn.
Blackstone president Jonathan Gray received $216.1m in 2020, consisting of $123.2m in compensation and $92.8m in dividends from shares in the company he owns. Gray, 51, according to Forbes, has a fortune of $4.6bn. "Executive compensation at Blackstone is directly linked to investor and shareholder performance," a fund spokesman explained to the agency. He added that most of the payouts are performance-based rewards for completed investment projects and long-term equity payouts.
source: bloomberg.com
Most of the income came from Schwartzman's 19.3% stake in Blackstone. The investment fund's profits were up 16% year-on-year in 2020. The 74-year-old CEO received compensation of $86.4m and dividends of $524.1m from his Blackstone shares, the statement said. Forbes estimates Schwartzman's fortune at $22.7bn.
Blackstone president Jonathan Gray received $216.1m in 2020, consisting of $123.2m in compensation and $92.8m in dividends from shares in the company he owns. Gray, 51, according to Forbes, has a fortune of $4.6bn. "Executive compensation at Blackstone is directly linked to investor and shareholder performance," a fund spokesman explained to the agency. He added that most of the payouts are performance-based rewards for completed investment projects and long-term equity payouts.
source: bloomberg.com
