But still probably earned more than 99% of financial markets professionals will in their lifetimes.
Bloomberg News reports that the Blackstone Group co-founder received $378 million in dividends on his stock ownership in 2016, according to calculations based on the firm’s annual report filed Friday with U.S. regulators. Including his cut of deal profits, salary and other compensation, Schwarzman took home $425 million, down from $734.2 million the previous year.
Private equity executives are some of the wealthiest financiers, drawing most of their income from dividends on their ownership in the companies. The founders of the largest private equity firms -- Blackstone, Apollo Global Management LLC, Carlyle Group LP, KKR & Co., Oaktree Capital Group LLC, Fortress Investment Group LLC, Ares Management LP and TPG - are all billionaires, according to the Bloomberg Billionaires Index.
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