© 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 Picture
By Rhea Binoy and Jose Joseph
(Reuters) – Blackstone (NYSE:) Inc Chief Govt 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 whole 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 won’t again Trump in 2024.
Larger rates of interest, inflation, recession worries and geopolitical tensions from the Russia-Ukraine battle have prevented non-public fairness corporations like Blackstone from promoting property for high greenback.
Blackstone’s internet revenue from asset gross sales fell sharply by 55% to $366.9 million throughout the fourth quarter, down from $817.5 million a yr earlier.
Schwarzman owns about 230 million shares in Blackstone in line with a submitting from February, and the corporate paid $4.40 in annual dividend, filings confirmed.
The world’s largest non-public fairness agency has been coping with rising redemptions at its flagship actual property earnings 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 whole property underneath administration and declared a quarterly dividend of 91 cents per share. Blackstone had set a goal of reaching $1 trillion in property by the top of 2022, an ambition it had introduced ahead from 2026.
