Tuesday, June 12, 2007

Big payday for Blackstone CEO (Chicago Sun Times)

Blackstone Group LP, which is now preparing for an initial public offering, says Chief Executive Stephen Schwarzman made $400 million in 2006. That's almost double the compensation for the CEOs of Wall Street's five biggest investment banks -- combined. Schwarzman, 60, will receive $449.2 million and keep a 24 percent stake, Blackstone said in an SEC filing. Retiring co-founder Peter G. Peterson, 80, will get $1.88 billion and retain 4 percent of the company.

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