Blackstone CEO Got $1-B In Pay, Dividends In 2022

Blackstone Inc. CEO Steve Schwarzman took home about $1.26 billion in pay and dividends for 2022, a regulatory filing showed, Rhea Binoy and Jose Joseph reported for Reuters.

Photo Insert: Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation.

Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, as per the filing.

On the other hand, Goldman Sachs slashed compensation for CEO David Solomon by 29% to $25 million for 2022, while JPMorgan Chase & Co. CEO Jamie Dimon's total compensation was unchanged at $34.5 million.

Schwarzman, who was among Wall Street's biggest contributors to Donald Trump's 2020 re-election campaign, said in November that he will not back Trump in 2024.

Higher interest rates, inflation, recession worries and geopolitical tensions from the Russia-Ukraine conflict have prevented private equity firms like Blackstone from selling assets for top dollar.

Blackstone's net profit from asset sales fell sharply by 55% to $366.9 million during the fourth quarter, down from $817.5 million a year earlier. The company posted distributable earnings of $6.6 billion in 2022, which was up 7% year-over-year.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic