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08:59 June 11th, 2007

Blackstone’s compensation revealed-CEO takes home $400 mln in ‘06

Posted by: Michael Flaherty
Tags: Uncategorized

schwarzman.bmpEver wonder how much Blackstone’s Steve Schwarzman makes? That’s not a mystery anymore. Blackstone Group issued an amended S-1 filing on Monday, detailing the firm’s payouts to its top executives. Reuters was quick on the news, as was Bloomberg. Turns out, Schwarzman hauled in around $400 million last year, will make at least $450 million after the IPO, and will have an ownership stake worth more than $7.7 billion. Co-founder Peter Peterson isn’t doing badly either. He made $213 million last year, and will get $1.88 billion after the offering, expected in the next few weeks. Here are a few highlights from the amended S-1, including info on what President Tony James and CFO Michael Puglisi are making:

Cash distributions to our named executive officers in respect of our fiscal and tax year ended December 31, 2006 were $398.3 million to Mr. Schwarzman, $212.9 million to Mr. Peterson, $97.3 million to Mr. James, $45.6 million to Mr. Hill and $17.4 million to Mr. Michael Puglisi. (page 196)

We intend to use approximately $3.90 billion of the proceeds from this offering and the sale of non-voting common units to the State Investment Company, or approximately $4.47 billion if the underwriters exercise in full their option to purchase additional common units, to purchase interests in our business from our existing owners. Of this amount, we expect that approximately $449.2 million (or $677.2 million if the underwriters exercise in full their option to purchase additional common units) will be paid to Mr. Schwarzman, approximately $1.88 billion will be paid to Mr. Peterson, approximately $147.9 million (or $188.5 million if the underwriters exercise in full their option to purchase additional common units) will be paid to Mr. James, approximately $22.1 million will be paid to Mr. Hill and approximately $13.4 million will be paid to Mr. Puglisi. (page 214)

(Photo: Stephen Schwarzman, handout)

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