© Reuters. FILE PHOTO: Blackstone Group CEO and Co-Founder Steve Schwarzman speaks at a Reuters Newsmaker occasion in New York, U.S., November 6, 2019. REUTERS/Gary He/File Photograph
By Rhea Binoy and Jose Joseph
(Reuters) – Blackstone (NYSE:) Inc Chief Government Officer Steve Schwarzman took residence about $1.26 billion in pay and dividends for 2022, a regulatory submitting confirmed.
Schwarzman obtained greater than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, submitting confirmed on Friday.
Goldman Sachs Group Inc (NYSE:) slashed compensation for CEO David Solomon by 29% to $25 million for 2022, whereas JPMorgan Chase & Co (NYSE:) CEO Jamie Dimon’s complete compensation was unchanged at $34.5 million.
Schwarzman, who was amongst Wall Avenue’s greatest contributors to Donald Trump’s 2020 re-election marketing campaign, mentioned in November that he is not going to again Trump in 2024.
Larger rates of interest, inflation, recession worries and geopolitical tensions from the Russia-Ukraine battle have prevented personal fairness companies like Blackstone from promoting belongings for high greenback.
Blackstone’s internet revenue from asset gross sales fell sharply by 55% to $366.9 million through the fourth quarter, down from $817.5 million a 12 months earlier.
Schwarzman owns about 230 million shares in Blackstone in response to a submitting from February, and the corporate paid $4.40 in annual dividend, filings confirmed.
The world’s largest personal fairness agency has been coping with rising redemptions at its flagship actual property revenue belief (BREIT), prompting it to train its proper to dam investor withdrawals at 5% of the quarterly internet asset worth of the fund.
Blackstone ended the quarter with $974.7 billion of complete belongings beneath administration and declared a quarterly dividend of 91 cents per share. Blackstone had set a goal of reaching $1 trillion in belongings by the top of 2022, an ambition it had introduced ahead from 2026.
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