And it was a reduction in pay on 2017!

Bloomberg News reports that Blackstone Group co-founder Steve Schwarzman took home $567.8 million in dividends and compensation in 2018, a 28% drop from a year earlier.

The CEO, 72, collected at least $499 million in dividends on his stake in the New York-based private-equity firm, according to a regulatory filing Friday. His pay consisted of $67.4 million in carried interest and $1.7 million of salary, equity and security. In 2017, he got $786.5 million.

Blackstone has benefited from investor demand for alternative assets such as private equity and real estate, attracted by the high returns they have delivered. The firm has about $472 billion under management, making it the largest of its type globally.

Hit the link below to access the complete Bloomberg News article:

Blackstone’s Schwarzman Collects $568 Million in Dividends, Pay

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