Reuters reported Blackstone Group co-founder Stephen Schwarzman received over $1 billion in pay and dividends in 2022.
Forbes pegged Schwarzman's wealth at $2.5 billion in 2006. They cited his wealth at $28.1 billion in 2023. Forbes didn't say how the Trump tax cuts helped boost his wealth over 11x.
That thumb's up is a bipartisan one for the Red and Blue political teams keeping private equity's preferred taxation in place over that period. Elected officials did so in direct opposition to public opinion.
Update 3-1-23: For more on how Schwarzman shafts the little people. He can do it directly by increasing rents nearly double the national average, evicting renters or indirectly through pension investment fees.
