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The Executive President of Blackstone, Stephen Schwarzman, took home more than $ 1 billion in 2024, since the private capital titan saw its increase in income due to a rebound in the investment activity in the largest alternative investment group in the world, according to the annual report of the company published by Friday night.
SchwarzmanThe income marked an increase of 9 percent compared to the previous year, completely fed by the increase in dividend payments of their enormous participation in Blackstone. The Blackstone co -founder has 19 percent of the New York -based investment group and has received hundreds of millions of dollars per year in dividends paid for their profits.
Black stone He increased his dividends payments to shareholders by approximately 18 percent in 2024 as his so -called distributable profits, a favor of metric analysts such as a proxy of cash flows, increased by a similar measure. Blackstone historically pays at least 85 percent of such profits to all its shareholders, which include Schwarzman and many other senior executives, such as President Jonathan Gray.
In general, Schwarzman received $ 916 million in dividends and compensation of $ 84mn, with most of that from “interest -brought interest” rates that Blackstone earns when investments sell in a profitable way. In 2023, he received around $ 900mn, a decrease compared to the previous two years when he took $ 1.1 billion and $ 1.3 billion, respectively.
Gray took $ 247mn home, with approximately 69 percent from dividend income in their shares. Financial director Michael Chae and Joseph Baratta, Chief of Private Capital of Blackstone, took home $ 48.9mn and $ 60.1mn, respectively.
Blackstone executives can receive huge income in good years because the group traditionally pays almost all its profits to shareholders in dividends. Rivals such as KKR and Global Apollo have more stable dividend policies and retain some of their profits to finance future expansion.
In 2024, Blackstone sold more than $ 87 billion of assets, an increase of 33 percent compared to the previous year, feeding the income based on the yield that in turn paid the shareholders. Their finances were also reinforced by a recovery in financial markets, which helped Blackstone raise $ 171 billion in cash from new investors and invest $ 134 billion. Both figures were almost record amounts for the group.
“Blackstone has a compensation model based on the performance that is based on long -term alignment with our investors,” said a spokesman.
The wealth within Blackstone has increased in recent years, fed by its assessment of rising stock after it was included in the popular S&P 500 index in 2023.
Blackstone’s main leaders saw Their shares increase by $ 13.5 billion In 2024, since its market value rose almost 50 percent to $ 214 billion, before falling slightly this year.
The increase in shares has created shares in a bills of dollars for a large group of executives beyond Schwarzman and Gray, who have shares worth $ 37 billion and $ 7 billion, respectively. Chae and Baratta only last year saw that their shares exceed $ 1 billion in value. Currently, each has shares worth approximately $ 1.1 billion, according to the values files.