Blackstone Inc (BX.N) Chief Executive Steve Schwarzman received £651.6 million in pay and dividends last year, marking a 29% decrease from his record earnings in 2022, as stated in a regulatory filing released on Friday.
In 2022, Schwarzman amassed over £913.2 million in pay and dividends, with dividends from his Blackstone shares, the world’s largest private equity firm, exceeding £855.5 million.
For 2023, dividend payments contributed £601 million to Schwarzman’s overall earnings.
Additionally, he received £91.9 million in compensation, experiencing a 53% drop from the £190.8 million he earned in 2022, according to the filing.
Schwarzman holds approximately 231.9 million shares of Blackstone, with the company issuing an annual dividend of £3.35 per share, as indicated in the filing.
Blackstone did not provide an immediate response to a Reuters request for comment.
Last month, Blackstone reported a 4% increase in its fourth-quarter distributable earnings, buoyed by divestments in real estate, credit, and hedge funds.
Distributable earnings, which signify cash utilised for shareholder dividends, surged to nearly £1.4 billion in the three months ending Dec. 31, up from £1.3 billion a year earlier.