Stephen Allen Schwarzman (born February 14, 1947) is an American businessman, investor and philanthropist. He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with former US Secretary of Commerce Pete Peterson. His personal fortune is estimated at $12.5 billion as of April 2018. As of 2017, Forbes ranked Schwarzman at 113th on its World's Billionaires List. Schwarzman was raised in a Jewish family in Huntingdon Valley, Pennsylvania.
Blackstone Team Profile (Archived) https://web.archive.org/web/2…
Newsweek on Schwarzman http://www.newsweek.com/schwa…
Salon on Schwarzman https://www.salon.com/2012/04…
Russian Direct Investment Fund mentioning Schwarzman https://rdif.ru/Eng_fullNews/…
Orlando Senteniel mentioning Schwarzman http://www.orlandosentinel.co…
Blackstone Official Website https://www.blackstone.com/
The Guardian mentioning Schwarzman https://archive.is/6LzLO
In 1985, Schwarzman and his boss Peter Peterson started Blackstone, which originally focused on mergers and acquisitions.
On August 2010, Schwarzman compared the Obama administration's plan to raise the tax rate on carried interest to Hitler's invasion of Poland in 1939, for which Schwarzman later apologized.
In September 2011, Schwarzman was listed as a member of the International Advisory Board of the Russian Direct Investment Fund.
Among Blackstone's largest investments in 2009 were SeaWorld Parks. SeaWorld Parks were the focus of the 2013 film Blackfish, a documentary on Killer Whale attacks at these parks and the ethics of keeping them captive. When asked about the film, Schwarzman said on record that SeaWorld trainer Dawn Brancheau should be blamed for her own death, claiming that the veteran animal trainer broke multiple safety rules before she was pulled into a tank and killed by a six-ton orca in February 2010. Blackstone said in a written statement that Schwarzman "misspoke" in response to the question about Blackfish. The firm said Schwarzman does not plan to go back on CNBC to correct the record on air.
Blackstone, with "$360 billion in assets", is expanding into infrastructure investments. Blackstone Group joined Saudi Arabia in May 2017 in a $40 billion fund to invest in stateside[clarification needed] infrastructure projects. Saudi Arabia will provide 50% of the fund which could lead to "$100 billion in total infrastructure investments on a leveraged basis".
Schwarzman is a Republican. He is a long-time friend of President Donald Trump and provides outside counsel, and served as chair of President Donald Trump's Strategic and Policy Forum. In response to criticism for his involvement with the Trump administration, Schwarzman penned a letter to current Schwarzman Scholars, arguing that "having influence and providing sound advice is a good thing, even if it attracts criticism or requires some sacrifice."
In early 2016, he said that in a two-candidate race he would prefer Donald Trump to Ted Cruz, saying that the nation needed a "cohesive, healing presidency, not one that's lurching either to the right or to the left." He had previously made a donation to Marco Rubio in 2014. He also endorsed and fundraised for Mitt Romney in 2012. He raised $100,000 for George W. Bush.
In late 2016, Schwarzman "helped put together a team of corporate executives to advise Trump on jobs and the economy. The group includes JPMorgan Chase (JPM) CEO Jamie Dimon, Walt Disney (DIS) boss Bob Iger and former GE leader Jack Welch" which became Trump's Strategic and Policy Forum. In February, Schwarzman was named as Chair of the 16-member President's Strategic and Policy Forum, which brings together "CEOs of America's biggest corporations, banks and investment firms" to consult with the President on "how to create jobs and improve growth for the U.S. economy."
On April 21, 2013, Schwarzman announced a $100 million personal gift to establish and endow a scholarship program in China, Schwarzman Scholars, modeled after the Rhodes Scholarship program. Schwarzman simultaneously announced a fundraising campaign with a goal of $200 million. The Schwarzman Scholars program will be housed at Tsinghua University, one of China's most prestigious universities. The first class of 100 students is slated for 2016, upon completion of Schwarzman College, designed by Robert A. M. Stern, Dean of the Yale School of Architecture.
Donald J. Trump (Personal)
Last updated: Fri Aug 24 2018 14:43:50
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