Stephen Schwarzman

Stephen A. Schwarzman
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Stephen A. Schwarzman (born 14 February 1947) is the Chairman and co-founder of the Blackstone Group private-equity firm.
Contents[hide]
1 Early life and education
2 Career
3 See also
4 References
5 External links
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[edit] Early life and education
Schwarzman attended the Abington School District in suburban Philadelphia and graduated from Abington Senior High School. He attended Yale University during the same time as George W. Bush (both in the same Skull and Bones group[1][2]), and graduated in 1969. He then went to Harvard Business School, graduating in 1972.

[edit] Career
Schwarzman began his career in financial services at the investment bank Lehman Brothers, where he reached the rank of managing director at age 31. He eventually became the head of Lehman Brother's global mergers and acquisitions team. In 1985, Schwarzman and his partner Peter Peterson started Blackstone, which originally focused on private equity and leveraged buyout scenarios.
With an estimated current net worth of around $3.5 billion, Forbes ranks Schwarzman as the 73rd-richest person in America.[3] He lives in an 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.[4]
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 performance by Rod Stewart for which he was reportedly paid $1 million.
On June 6 2007, several financial news websites said that Schwarzman earned about $400 million (well over a million dollars per day) in fiscal 2006 and he is said to be worth over $7.7 billion in stocks of the Blackstone Group. [1]. That was the first that earnings were announced by Blackstone, because of an SEC filing. He received $800 Million for the Blackstone IPO.
In 2007, Schwarzman was listed among Time Magazine's 100 Most Influential People in The World.
Schwarzman has served as an adjunct professor at the Yale School of Management and is Chairman of the Board of Trustees of the John F. Kennedy Center for the Performing Arts.

[edit] See also
List of personalities associated with Wall Street
George W. Bush's roommate at Yale
Skull and Bones

[edit] References
^ Evan Thomas and Daniel Gross, "Taxing the Super Rich", Newsweek, July 23, 2007
^ Andrew Clark, "The Guardian profile: Stephen Schwarzman", The Guardian, June 15, 2007
^ Forbes 2006 ranking and photo of Schwarzman
^ Gross, Michael. 740 Park: The Story of the World's Richest Apartment Building. New York: Broadway Books, 2005.
Greed and Glory on Wall Street-The Fall of the House of Lehman by Ken Auletta ISBN 1-58567-088-X The Overlook Press - Woodstock & New York Extension

[edit] External links
Blackstone biography
Serwer, Andy. "Wall Street's Hottest Hand." Fortune, 27 May 2003.
Steve Schwarzman, man of the moment. The First Post
Visual Analysis of Stephen Schwarzman's Corporate Connections
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