Stephen Schwarzman Net Worth is$5.5 Billion
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Profession: Entrepreneur, Businessperson, Investor, Financier
Date of Birth: Feb 14, 1947
Nicknames: Stephen A Schwarzman
Country: United States of America
Stephen Schwarzman net worth: Stephen Schwarzman is an American businessman with an estimated net worth of $5.5 billion dollars which makes him one of the richest people in New York. Born in Philadelphia, Pennsylvania, Stephen Schwarzman graduated from Yale University, and then went on to earn his Masters in Business Administration from Harvard Business School. He began his career in finance while still in college, and then began working for Lehman Brothers after completing his graduate school education. He went on to become a managing director at Lehman Brothers, and then the Head of Global Acquisitions and Mergers. He left the firm in the mid-80s to co-found The Blackstone Group, a firm focused on acquisitions and mergers. His business partner retired in 2008, and he is now the sole owner and CEO of the company. The Blackstone Group currently manages nearly $190 billion in assets for various companies, and the value of the firm actually increased by 15% in 2011. In addition to his work with The Blackstone Group, he pays for the education of over a hundred disadvantaged children in New York City, and reportedly personally reviews their report cards and writes to them each semester.
Stephen (Steve) Allen Schwarzman (born February 14, 1947) is an American financier and philanthropist. He is the chairman and CEO of the Blackstone Group, a private equity firm he co-founded with former Lehman Brothers CEO and US Secretary of Commerce Peter Peterson.
Schwarzman is a son of Arline and Joseph Schwarzman of Huntingdon Valley, Pennsylvania. His father owned Schwarzman's, a former dry-goods store in Philadelphia.
Schwarzman attended the Abington School District in suburban Philadelphia and graduated from Abington Senior High School in 1965. He attended Yale University during the same period as George W. Bush, one year behind him (both were in the Skull and Bones society) and graduated in 1969. He then went on to Harvard Business School and graduated in 1972.
Schwarzman's first job in the financial services was with Donaldson, Lufkin & Jenrette, a now defunct investment bank. After business school, Schwarzman started working at the investment bank Lehman Brothers, where he reached the rank of managing director at age 31. He eventually became the head of Lehman Brothers' global mergers and acquisitions team. In 1985, Schwarzman and his boss Peter Peterson started Blackstone, which originally focused on mergers and acquisitions.
With an estimated current[update] net worth of around $4.7 billion, Schwarzman was ranked by Forbes as the 52nd-richest person in America in 2011. He lives in a large apartment at 740 Park Avenue in New York, previously owned by the Mayflower descendent George Brewster and John D. Rockefeller Jr. Schwarzman bought it from Saul Steinberg in 2000 for just under $30 million. However, an article in the New Yorker claims that the apartment was purchased for $37 million.
On 13 February 2007, Schwarzman celebrated his 60th birthday at the Armory on Park Avenue. Guests included Colin Powell, Mayor of New York City Michael Bloomberg, and Cardinal Edward M. Egan of New York. The climax of the evening was a half-hour live perfor

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Stephen Schwarzman Latest News

Buying Stakes In Management Companies And Seed Investing Are Two Sides Of The Same Coin In PE

But it’s not surprising if you subscribe to what I call the Stephen Schwarzman principle - that private equity funds today are intrinsically undervalued - a proposition I fully subscribe to. Schwarzma...
Posted: July 9, 2018, 6:00 am

BLACKSTONE CEO: I got called a Nazi for advising a Trump council, but I'm Jewish

In his first public comments since Trump's corporate councils disbanded, Blackstone CEO Stephen Schwarzman detailed the enormous backlash he faced. "You should have seen some of the emails I got," he ...
Posted: September 12, 2017, 4:45 pm

Wall Street investors warn that deal making suffers as US stokes anti-China fears

Oaktree opened its Beijing office 11 years ago, and Blackstone co-founder Stephen Schwarzman started a scholarship programme at Tsinghua University in 2013 to “educate future leaders about China”. But ...
Posted: July 18, 2018, 1:07 am
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