BILLIONAIRE BLOWOUT: BLACKSTONE’S SCHWARZMAN BANKS OVER $1 BILLION IN 2024!
In a jaw-dropping turn of financial fortune, Blackstone’s big boss, Stephen Schwarzman, raked in an eye-popping $1 billion in 2024! This private equity powerhouse is back on the rise, and Schwarzman is cashing in BIG TIME thanks to a meteoric rebound in the investment world! According to the latest jaw-dropping annual report, the world’s largest alternative investment group is making waves!
DIVIDENDS GALORE – SCHWARZMAN’S HAUL HITS NEW HEIGHTS!
Schwarzman’s incredible income skyrocketed by 9% from the previous year, and guess what? It’s all thanks to skyrocketing dividend payments from his MASSIVE Blackstone shareholding! This investment kingpin holds a staggering 19% stake in the New York-based behemoth, pocketing hundreds of millions yearly in juicy dividends from the company’s huge profits.
In 2024, Blackstone cranked up its dividend payouts by an astonishing 18%! Shareholders are cashing in as the powerhouses’ distributable earnings increase. This cash cow provides a hefty 85% profit payout to its lucky shareholders, keeping Schwarzman and his executive crew smiling all the way to the bank!
MILLIONS ON MILLIONS: SCHWARZMAN’S PAYDAY OF EPIC PROPORTIONS!
Schwarzman’s grand haul broke down to an incredible $916 million in dividends combined with a cool $84 million in compensation! The majority came from “carried interest” – that’s the sweet performance fees Blackstone rakes in from selling investments that make bank. Just a year earlier, Schwarzman’s income dipped to about $900 million – yet it still dwarfed the previous two years where he nabbed $1.1 billion and a staggering $1.3 billion!
And don’t think he’s alone in the billionaire bonanza. Blackstone’s President Jonathan Gray raked in a dazzling $247 million, while CFO Michael Chae and Private Equity Head Joseph Baratta pocketed impressive sums of $48.9 million and $60.1 million, respectively.
BLACKSTONE’S CASH CARNIVAL SPARKS DIVIDEND DELIGHT!
While rivals like KKR and Apollo Global hold back some profits for future expansion, Blackstone rewards its executives with astronomical salaries in the best of times! In 2024 alone, the company unloaded more than $87 billion in assets—a staggering 33% leap from last year! This fuelled performance-driven cash that’s cascading into shareholders’ pockets like confetti!
And the thrill doesn’t stop there! Blackstone’s financial resurgence was supercharged by a booming financial market, allowing them to haul in an astonishing $171 billion from new investors and invest a whopping $134 billion!
MOUNTAINS OF WEALTH: BLACKSTONE’S EXECUTIVES STRIKE GOLD!
Since being included in the coveted S&P 500 index in 2023, Blackstone has watched its stock soar, generating a mind-boggling $13.5 billion in wealth for its top guns in 2024 alone! Then in a fierce turn, its market value skyrocketed almost 50% to $214 billion, although it saw a bit of a decline this year.
The share surge has created a tidal wave of billion-dollar stock holdings for an ever-growing roster of executives! Schwarzman and Gray each hold shares worth $37 billion and $7 billion, respectively, while Chae and Baratta have finally crossed the millionaire line, boasting shares that now hover around the $1.1 billion mark!
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photo credit: www.ft.com
