The first leader of a public company to be paid more than $1 billion in a single year ?
Shareholders are pounding Wall Street's biggest banks to slim down or even break up. Hedge-fund managers are under scrutiny as they repeatedly fail to outperform the broader bull market. Yet in one corner of the city's financial ecosystem —private equity — times have never been better.
Crain's reports that times are best of all at Blackstone Group, which reaped a fortune last year from selling off investments bought during the financial crisis. Late last month, the firm disclosed that co-founder and CEO Stephen Schwarzman received an eye-popping payout of $690 million in 2014.
This year could prove even richer for Schwarzman, considering that Blackstone has more than 80 companies in its private-equity portfolio to shop around. In fact, Schwarzman is well positioned to become the first leader of a public company to be paid more than $1 billion in a single year.
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