Steve Schwarzman may make $1 billion this year

Steve SchwarzmanREUTERS/Brendan McDermidStephen A. Schwarzman, Chairman and Chief Executive Officer of The Blackstone Group, looks on during an interview with Maria Bartiromo, on her Fox Business Network show; ‘Opening Bell with Maria Bartiromo’ in New York.

Steve Schwarzman brought in $US690 million last year, making him one of Wall Street’s highest-earning CEOs.

But according to Crain’s New York Business, it’s not going to stop there.

In an article on Monday, Crain’s estimated that the Blackstone CEO could bring in more than $US1 billion in pay this year, based on the U.S. stock market highs and Blackstone’s portfolio of more than 80 companies.

Schwarzman’s success comes at a time when private equity business (and pay) is booming, compared to the rest of Wall Street. This year, Schwarzman surpassed Apollo Global Management’s Leon Black as the highest-paid CEO in private equity.

Other private equity giants like Black and Carlyle Group’s William Conway earned $US331 million and $US343 million, respectively. Goldman Sachs CEO Lloyd Blankfein pulled in $US24 million in 2014, and JP Morgan’s Jamie Dimon received $US20 million.

Read the full story at Crain’s >>

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