Skip to: Content
Skip to: Site Navigation
Skip to: Search
MONDAY, NOVEMBER 23, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


0

Blackstone IPO Payouts Will Eclipse Google

Schwarzman's stake in the private equity firm will top $7.5B

Share

(Newser) – Huge windfalls due the top executives of the Blackstone Group from their IPO late this month will eclipse even the payday enjoyed by the Google founders three years ago, the Wall Street Journal reports. CEO Stephen Schwarzman will make $677 million and retain a $7.5 billion stake in the company—more than double that of Sergey Brin and Larry Page.

Chairman Pete Peterson  will make $1.9 billion in cash but keep a more modest $1.3 billion stake.  Schwarzman retains a higher percentage of equity in Blackstone than the founder of any other private equity firm, the Journal reports. Ten percent of the company is being sold to the public and another 10% has been sold to the Chinese government.

In this photo released by The Blackstone Group, Stephen Schwarzman, the chief executive of The Blackstone Group is shown. Schwarzman, will pocket $449.2 million and hold about 24 percent of the company after it goes public, the private equity firm said in a regulatory filing Monday, June 11, 2007....
In this photo released by The Blackstone Group, Stephen Schwarzman, the chief executive of The Blackstone Group is shown. Schwarzman, will pocket $449.2 million and hold about 24 percent of the company...   (Associated Press)
In this photo released by The Blackstone Group, Peter Peterson, the senior chairman of The Blackstone Group is shown. The chief executive of Blackstone Group, Stephen Schwarzman, will pocket $449.2 million and hold about 24 percent of the company after it goes public, the private equity firm said in...
In this photo released by The Blackstone Group, Peter Peterson, the senior chairman of The Blackstone Group is shown. The chief executive of Blackstone Group, Stephen Schwarzman, will pocket $449.2 million...   (Associated Press)
A view of the floor of the New York Stock Exchange late in the trading day in this, April 4, 2007 file photo, in New York. NYSE Euronext Inc., the world's biggest stock market, said Thursday, April 26, 2007 that its first-quarter profit more than doubled as more companies sought...
A view of the floor of the New York Stock Exchange late in the trading day in this, April 4, 2007 file photo, in New York. NYSE Euronext Inc., the world's biggest stock market, said Thursday, April 26,...   (Associated Press)
A view of the floor of the New York Stock Exchange late in the trading day Wednesday, April 4, 2007, in New York. NYSE Euronext shares slipped in their first day of trading following the completion of the $14 billion deal that created the first trans-Atlantic stock exchange. (AP Photo/Henny...
A view of the floor of the New York Stock Exchange late in the trading day Wednesday, April 4, 2007, in New York. NYSE Euronext shares slipped in their first day of trading following the completion of...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.23.09
Books Are Bad for You
11.20.09
The Health-Care Wars Have Just Begun
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

65 Stories

Wall Street Rakes in $1B in Fees on AIG Breakup

Morgan Stanley set to pocket $250M in  'advisory services'

Aug 6, 09 7:18 AM CDT
(Newser) - The crumbling of AIG forced taxpayers to take on 80% of the company, but breaking the insurance giant up is turning out to be a bonanza for lawyers and banks. The Wall Street Journal calculates that firms will pull in $1 billion in fees from AIG and the Fed—one... More »

MORE ABOUT:
insurance companies • Bank of America • Goldman Sachs • Morgan Stanley • IPO • AIG • fees • financial crisis • Wall Street bailout

Analysis

OpenTable Brings (False) Hope for IPOs

Great company creates an old-school frenzy, but it's a one-time deal

May 27, 09 1:21 PM CDT
(Newser) - A hot website goes public, and investors go wild. Shares soar 59% on the first day of trading. “Is this really May 2009?” asks James B. Stewart of SmartMoney. The stock is OpenTable.com, which went public at $20 and is trading just south of $27. "The company... More »

MORE ABOUT:
stock market • OpenTable • IPO • restaurant industry

(Newser) - Mark Zuckerberg tells Reuters he does indeed intend to take Facebook public—just don't hold your breath waiting for it. The company is still "a few years out from that," said the 25-year-old co-founder. He said Facebook has plenty of capital, though he didn't deny that company execs... More »

MORE ABOUT:
Facebook • Mark Zuckerberg • IPO

65 Stories


The Blackstone IPO

SEC documents filed by Blackstone
SEC

Wall Street's $8billion man
New York Times


Business  •  US 
TwitterFollow @Newser on Twitter

 
Stephen Schwarzman • Blackstone Group • IPO • Pete Peterson

from our news partners