When you read about private equity billionaire Steve Schwarzman, you expect to see big numbers. Even so, one number Blackstone's chief executive officer threw out recently was startling. “The alternative class, the stuff we do, tends to make somewhere around 1,000 basis points more than the stock market,” he said.
U.S. policy makers are hindering economic progress by failing to fix the nation’s education system and should take a more hard-line approach to making changes, said Blackstone Group LP co-founder Steve Schwarzman.
Blackstone Group LP chief Steve Schwarzman received $374.5 million last year in pay and cash dividends, an increase of 76 percent from 2012, as the world’s biggest alternative-asset manager took advantage of rising equity markets to sell shares of companies.