Stephen Schwarzman
| Stephen A. Schwarzman | |
|---|---|
Schwarzman at the Blackstone Headquarters in New York on November 2015
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| Born |
Stephen Allen Schwarzman February 14, 1947 Philadelphia, Pennsylvania, U.S. |
| Residence | New York, New York, U.S. |
| Citizenship | United States |
| Alma mater |
Yale University Harvard University |
| Occupation | Investor, private equity manager, philanthropist, advisor to President Donald Trump |
| Known for | Founding and leading The Blackstone Group |
| Net worth | US$10.2 billion (January 2017) |
| Political party | Republican |
| Spouse(s) | Ellen Philips (divorced) Christine Mularchuk Hearst (current) |
| Children | 3 (2 with Philips; 1 stepchild with Hearst) |
Stephen Allen Schwarzman (born February 14, 1947) is an American investor, private equity manager, 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 $10.2 billion as of January 2017. As of 2017, Forbes ranked Schwarzman at 113th on its World's Billionaires List.
He currently chairs President Donald Trump's Strategic and Policy Forum.
Schwarzman was raised in a Jewish family in Huntingdon Valley, Pennsylvania, the son of Arline and Joseph Schwarzman. His father owned Schwarzman's, a former dry-goods store in Philadelphia.
Schwarzman attended the Abington School District in suburban Philadelphia and graduated from Abington Senior High School in 1965. He attended Yale University during the same period as George W. Bush, one year behind him (both were in the Skull and Bones society) and graduated in 1969. He then went on to Harvard Business School and graduated in 1972.
Schwarzman's first job in financial services was with Donaldson, Lufkin & Jenrette, a now defunct investment bank. After business school, Schwarzman started working at the investment bank Lehman Brothers, where he reached the rank of managing director at age 31. He eventually became the head of Lehman Brothers' global mergers and acquisitions team. In 1985, Schwarzman and his boss Peter Peterson started Blackstone, which originally focused on mergers and acquisitions.
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