KKR & Co Inc logo

KKR - KKR & Co Inc News Story

$53.31 0.4  0.7%

Last Trade - 16/04/21

Sector
Financials
Size
Large Cap
Market Cap £22.23bn
Enterprise Value £61.62bn
Revenue £3.28bn
Position in Universe 418th / 6850

Blackstone CEO Schwarzman took home $610.5 mln in 2020

Mon 1st March, 2021 3:36pm
By Chibuike Oguh
    March 1 (Reuters) - Blackstone Group Inc  BX.N  Chief
Executive Stephen Schwarzman pocketed at least $610.5 million in
2020 from dividends and compensation, more than any other
private equity executive and up 20% from last year despite the
impact of the COVID-19 pandemic, regulatory filings showed. 
    The majority of the windfall stemmed from Schwarzman's 19.3%
stake in Blackstone. Its distributable earnings jumped 16%
year-over-year in 2020 as the world's largest manager of
alternative assets such as real estate and private equity
capitalized on the capital market's rally following the Federal
Reserve's moves to support the U.S. economy during the pandemic.
    Schwarzman, 74, received $86.4 million in compensation and
$524.1 million in dividends from his Blackstone shares, a
regulatory filing showed on Friday. His net worth is currently
pegged by Forbes at $22.3 billion.
    Blackstone President Jonathan Gray, Schwarzman's No. 2, took
home at least $216.1 million in 2020, consisting of $123.2
million in compensation and $92.8 million in dividends from the
company's shares he owns, the filing showed. Gray, 51, has a net
worth of $4.5 billion, according to Forbes.
    "Executive compensation at Blackstone is directly tied to
investor and shareholder performance," a Blackstone spokesman
said in a statement, adding that most of it reflected realized
performance fees from investments and long-dated stock grants.
    Apollo Global Management Inc  APO.N  Chairman Leon Black,
who agreed to relinquish his role as the company's CEO by July
following an investigation of his ties to late financier and
convicted sex offender Jeffrey Epstein, collected at least
$185.2 million in 2020, another regulatory filing showed.
    Black, 69, received $423,687 in compensation, $182.3 million
in dividends from his Apollo shares and $2.5 million from his
personal investments in the firm's funds. His net worth is
pegged at $8.5 billion, according to Forbes.
    Marc Rowan, Apollo's incoming CEO, pocketed at least $92.6
million, comprising $72.3 million in dividends and $20.3 million
in distributions from his fund investments. Rowan's compensation
as an Apollo co-founder and senior managing director was not
reported. He is estimated by Forbes to be worth $3.9 billion.
    KKR & Co Inc  KKR.N  co-founders and co-Chief Executives
Henry Kravis and George Roberts collected at least $81.3 million
and $85.4 million respectively, primarily from their holdings in
the firm, a regulatory filing showed.
    Kravis, 77, received $42 million in compensation and $39.3
million in dividends from his KKR shares, while Roberts, also
77, took home $42 million in compensation and $85.4 million in
dividends from his KKR shares. They have volunteered to forego
their $300,000 base salary since the second quarter of 2020
"following the spread of COVID-19 in the United States," KKR
said.
    Kravis is worth $7.2 billion and his cousin, Roberts, is
worth $7.4 billion, according to Forbes.
    Washington, D.C-based Carlyle Group Inc  CG.O  has not yet
filed regulatory reports containing information on the
compensation and dividends of its chief executive, Kewsong Lee,
and its founders David Rubenstein, William Conway and Daniel
D'Aniello.

 (Reporting by Chibuike Oguh in New York; Editing by Dan
Grebler)
 ((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters
Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.