Blackstone Chief Executive Steve Schwarzman earned $1.24bn in 2025, just below the near-record $1.27bn he earned in 2022, according to a report by Bloomberg citing the firm’s latest annual filing.
The bulk of Schwarzman’s pay came from dividends, with $1.1bn generated from his roughly 20% stake in the firm. He also earned $125.6m, largely from incentive fees and carried interest. The payout cements Schwarzman’s position among the world’s wealthiest individuals, with a net worth of around $44.2bn, according to the Bloomberg Billionaires Index.
The strong showing reflects Blackstone’s diversification beyond traditional private equity into credit, real estate and infrastructure, helping insulate the firm during a prolonged slowdown in dealmaking. At the same time, activity improved in 2025 as interest rates began to fall, allowing Blackstone to exit more investments than in the prior year.
Blackstone president Jon Gray earned $302.6m in 2025, including $206.5m in dividends and $96.1m from carried interest and stock awards.
