Stephen Schwarzman Net Worth (Updated 2024)

What’s Stephen Schwarzman Net Worth?

Stephen A. Schwarzman, the Chairman, CEO, and Co-Founder of Blackstone Group, has an estimated net worth of $38.8 billion. His wealth comes from his ownership of approximately 19% of Blackstone, which manages over $1 trillion in assets as of 2024. He has also accumulated significant earnings from stock sales, dividends, and compensation over the years.

In 2023, Schwarzman earned $896.7 million, a decrease from the previous year’s record $1.27 billion. His compensation includes dividends, incentive fees, and carried interest. A substantial portion of his income comes from dividends.

During Blackstone’s initial public offering (IPO) in 2007, Schwarzman sold shares worth about $675 million and has since collected over $7 billion in compensation and dividends. In 2022, he earned roughly $1 billion in dividends alone.

Schwarzman’s net worth has seen substantial growth over the years. For instance, in 2019, his wealth was reported at $17.2 billion. By 2022, it had increased to over $30 billion.

Here’s the breakdown of Stephen Schwarzman’s net worth:


Stephen Schwarzman

Net Worth:

$38.8 Billion

Date of Birth:

Feb 14, 1947


Entrepreneur, Businessperson, Investor, Financier

If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.

Stephen Schwarzman

Early Life

Stephen Allen Schwarzman was born on February 14, 1947, in Philadelphia, Pennsylvania, and grew up in the nearby suburb of Abington. He was raised in a Jewish family, the son of Arline and Joseph Schwarzman, who owned a dry-goods store in Philadelphia.

From an early age, Schwarzman was involved in business activities, helping out at his father’s store and later starting his own lawn-mowing business at the age of 14, where he employed his younger twin brothers to do the mowing while he focused on attracting new clients.

Schwarzman attended Abington Senior High School, graduating in 1965, and then went on to Yale University. At Yale, he studied social sciences, including psychology, sociology, and anthropology, and was a member of the prestigious Skull and Bones society.

He also founded the Davenport Ballet Society during his time at Yale. After graduating from Yale in 1969, Schwarzman briefly served in the U.S. Army Reserve before attending Harvard Business School, where he earned his MBA in 1972.

Early Career

After completing his MBA, Schwarzman began his career in finance at Donaldson, Lufkin & Jenrette (DLJ), an institutional asset management firm. His time at DLJ was short but formative, as he developed a keen interest in corporate finance and the stock market. He then joined Lehman Brothers, where he quickly rose through the ranks, becoming a managing director by the age of 31 and eventually chairing the firm’s Mergers and Acquisitions (M&A) Committee.

During his tenure at Lehman Brothers, Schwarzman gained significant experience in private equity and leveraged buyouts, which were relatively new concepts at the time. He was instrumental in advising on and closing several high-profile deals, which helped him build a strong network of relationships in the financial industry.

Despite his success at Lehman Brothers, Schwarzman saw greater opportunities in the burgeoning field of private equity, which led him to co-found The Blackstone Group in 1985 with his former boss and mentor, Peter G. Peterson.

The Blackstone Group

Stephen Schwarzman co-founded The Blackstone Group in 1985 with Peter G. Peterson, starting with a modest $400,000 in seed capital. The firm initially focused on M&A advisory services but quickly expanded into private equity, raising nearly $1 billion for its first private equity fund. Blackstone’s early strategy involved leveraged buyouts, where the firm would acquire companies using borrowed money and then sell them for a profit after improving their operations.

Under Schwarzman’s leadership, Blackstone grew to become the world’s largest alternative investment firm, managing over $1 trillion in assets as of March 2024. The firm’s investment portfolio spans various asset classes, including private equity, real estate, credit, and hedge funds. Blackstone is the largest owner of commercial real estate globally and a major player in infrastructure and life sciences investing.

Blackstone went public in 2007, raising over $4 billion in its initial public offering (IPO). Schwarzman sold shares worth approximately $675 million during the IPO and has since collected more than $7 billion in compensation, dividends, and stock sales. His significant stake in Blackstone, which he continues to hold, is the primary source of his wealth.


Stephen Schwarzman is renowned for his extensive philanthropic efforts, which span education, culture, and various charitable causes.

In 2020, Schwarzman joined The Giving Pledge, a commitment by some of the world’s wealthiest individuals to donate the majority of their wealth to philanthropic causes.

Schwarzman has made substantial contributions to educational institutions. In 2008, Schwarzman donated $100 million to the New York Public Library, where he also serves as a board member. In 2015, he donated $150 million to Yale University, his alma mater. In 2018, he gave $350 million to the Massachusetts Institute of Technology (MIT) to establish the Schwarzman College of Computing.

In addition, he has donated £150 million to the University of Oxford to create the Schwarzman Centre for the Humanities, which focuses on the ethical implications of artificial intelligence. 

Schwarzman also established the Schwarzman Scholars program at Tsinghua University in Beijing with a $100 million donation, aiming to prepare future leaders to understand and engage with China.

Apart from education, Schwarzman has supported various other causes, including the USA Track and Field Foundation and numerous cultural institutions. 

Real Estate

Schwarzman and his wife Christine own a triplex apartment at 740 Park Avenue, one of the most exclusive addresses in Manhattan. They purchased the apartment for $30 million in 2000, which was the highest amount paid for a property on Park Avenue at the time.

The couple also owns a mansion in Palm Beach, which they bought for $20.5 million in 2003. The property is now estimated to be worth over $100 million.

Schwarzman has additional real estate investments, including properties in the Hamptons and other luxury locations.

Personal Life

Schwarzman married his first wife, Ellen Philips, in 1971. Ellen is a trustee of Northwestern University and the Mount Sinai Medical Center. The couple had two children together before divorcing in 1990. In 1995, Schwarzman married Christine Hearst, a lawyer who has a child from a previous marriage.

Schwarzman has three children, including Teddy Schwarzman, a film producer, and Zibby Owens, a writer and podcaster.

Schwarzman is known for his high-profile social connections, including friendships with influential figures such as former President Donald Trump. He served as the chair of Trump’s Strategic and Policy Forum, although the forum was disbanded within a year.

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