Thursday, December 15, 2016

Top Private Equity Earners

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In the last two years, Stephen A. Schwarzman, the chief executive and a co-founder of the Blackstone Group, received the largest sum. In 2015, he collected just under $800 million, up from $689 million the year before. Of that amount, only $350,000 was his annual salary. He received no bonus.

[...] Hamilton E. James, Blackstone’s president, received $233 million in 2015, while Blackstone’s real estate chief, Jonathan D. Gray, earned $249 million. Other prominent firms have produced big payouts as well. In 2013, the biggest winner was Leon Black, the head of Apollo Global Management, who received about $543 million. In 2015, Henry R. Kravis and George R. Roberts, the co-heads of Kohlberg Kravis Roberts & Company, collected a combined $356 million.

[...] For all the populist outrage that banks have faced over compensation, their executives make just a fraction of what private equity chiefs do. Median pay among the top-ranking private equity executives in the joint study was $138 million in 2015; for bankers, that number was $23 million. And not all of the bank compensation is guaranteed [...] Lawrence J. Ellison, the co-founder, executive chairman and former chief executive of Oracle, collected the second largest payout in the joint study. He received $631 million last year, much of it in dividends on his stock, second only to Mr. Schwarzman, who also made much of his money from dividends [...] Mark Zuckerberg of Facebook was paid a salary of $1 last year and received personal security and aircraft perks valued at around $5 million. Source: New York Times.