Blackstone CEO Stephen Schwarzman Gets Richer

Stephen Schwarzman, the Blackstone Group’s chairman and CEO, has gotten a little richer.

Schwarzman’s 23% stake in Blackstone fully vested this month. The CEO owns 231 million Blackstone units but the last chunk, 38 million, vested on June 21, I’m told. Shares of Blackstone were up 35 cents to $16.73 in mid-day trading Thursday. So, Schwarzman’s stake is now worth roughly $3.9 billion.

Blackstone went public in June 2007, raising $4.13 billion. Employees of the buyout shop owned 75% of the company after the IPO. Schwarzman has the largest stake and he hasn’t sold any units, I’m told. The CEO is known for his lavish parties, but we think this one is worthy of another fiesta. Congrats, Steve!

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