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Stephen A. Schwarzman
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Main page This article is about the investor. For his namesake building, see New York Public Library Main Branch.
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Stephen Allen Schwarzman (born February 14, 1947) is an American businessman, investor, and philanthropist. He is the chairman and
Featured content Stephen A. Schwarzman
CEO of The Blackstone Group, a global private equity firm he established in 1985 with former chairman and CEO of Lehman Brothers
Current events
Random article and US Secretary of Commerce Pete Peterson. His personal fortune is estimated at $17.2 billion as of October 2019.[1] As of 2019, Forbes
Donate to Wikipedia ranked Schwarzman at 100th on its World's Billionaires List.[2][1] Schwarzman briefly served as Chairman of President Donald Trump's
Wikipedia store Strategic and Policy Forum for 6 months before its dissolution.[3]

Interaction Contents [hide]

Help 1 Early life and education
About Wikipedia
2 Investment career
Community portal Chairman of the Strategic and Policy
Recent changes 3 Political and economic views
Forum
Contact page 4 Wealth and philanthropy
In office
5 Personal life January 20, 2017 – August 16, 2017
Tools
6 Other President Donald Trump
What links here 7 References
Preceded by Position established
Related changes
8 Further reading
Upload file Succeeded by Position abolished
9 External links
Special pages Personal details
Permanent link Born Stephen Allen Schwarzman
Page information February 14, 1947 (age 72)
Wikidata item
Early life and education [ edit ]
Philadelphia, Pennsylvania,
Cite this page
Schwarzman was raised in a Jewish family in Huntingdon Valley, Pennsylvania, the son of Arline and Joseph Schwarzman.[4][5] His father U.S.

In other projects owned Schwarzman's, a former dry-goods store in Philadelphia, and was a graduate of the Wharton School.[6] Political Republican
party
Wikimedia Commons Schwarzman attended the Abington School District in suburban Philadelphia and graduated from Abington Senior High School in
Spouse(s) Ellen Philips (1971–1990)
1965.[7] He attended Yale University, where he was part of the Skull and Bones secret society.[8][9] After graduating in 1969, he briefly Christine Mularchuk Hearst
Print/export
served in the U.S. Army Reserve before attending Harvard Business School, where he graduated in 1972.[10] (1995–present)
Create a book Children 3 (including Teddy
Download as PDF Schwarzman)
Printable version
Investment career [ edit ]
1 stepchild
Schwarzman's first job in financial services was with Donaldson, Lufkin & Jenrette, an investment bank which merged with Credit Suisse Education Yale University (BA)
Languages
in 2000. After business school, Schwarzman worked at the investment bank Lehman Brothers, became a managing director at age 31, Harvard University (MBA)
Deutsch
and then head of global mergers and acquisitions.[11] In 1985, Schwarzman and his boss, Peter Peterson, started The Blackstone Group, Occupation Chairman and CEO of The
‫ﻓﺎر‬ Blackstone Group
which initially focused on mergers and acquisitions.[12][13]
Français
Known for CEO, Chairman, and Co-
⽇本語 When Blackstone went public in June 2007, it revealed in a securities filing that Schwarzman had earned about $398.3 million in fiscal Founder of The Blackstone
Русский 2006.[14][15] He ultimately received $684 million for the part of his Blackstone stake he sold in the IPO, keeping a stake then worth $9.1 Group
Türkçe
billion.[16] Net worth US$17.2 billion (October
中文
2019)[1]
In June 2007, Schwarzman described his view on financial markets with the statement: "I want war, not a series of skirmishes... I always
3 more
Edit links
think about what will kill off the other bidder."[17]

In September 2011, Schwarzman was listed as a member of the International Advisory Board of the Russian Direct Investment Fund.[18][19]

Political and economic views [ edit ]

Schwarzman is a Republican. He is a long-time friend of President Donald Trump and provides outside counsel, and served as chair of Trump's Strategic and Policy Forum.[20][3] 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."[3]

He raised $100,000 for George W. Bush's political endeavors.[21]

In 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.[22][23] Schwarzman later
apologized for the analogy.[24][25]

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."[26] He had previously made a donation to Marco Rubio in 2014. He also endorsed and fundraised for Mitt Romney in 2012.[27]

In late 2016, Schwarzman "helped put together" a team of corporate executives to advise Trump on jobs and the economy. The group, which includes JPMorgan Chase CEO Jamie
Dimon, Walt Disney boss Bob Iger and former General Electric leader Jack Welch, became Trump's Strategic and Policy Forum.[28][29] 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."[30]

Wealth and philanthropy [ edit ]

According to Forbes, he had a net worth of $12.4 billion as of August 2018.[1] In 2014, Schwarzman was named as one of Bloomberg's 50
Most Influential people of the year.[31] In 2016, Schwarzman was again named as one of Bloomberg's 50 Most Influential people of the
year.[32] In 2004, Schwarzman donated a new football stadium to Abington Senior High School—the Stephen A. Schwarzman Stadium.[33] In
2007, Schwarzman was listed among Time 's 100 Most Influential People in The World.[34]

In early 2008, Schwarzman announced that he contributed $100 million toward the expansion of the New York Public Library, for which he
serves as a trustee. The central reference building on 42nd Street and Fifth Avenue was renamed The Stephen A. Schwarzman Building.[35] In
2018, Schwarzman donated 10 million to another library, the Israeli National Library.[36]

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 is housed at Tsinghua University, one of China's most prestigious universities. The first class
of 100 students graduated in 2017, upon completion of Schwarzman College, designed by Robert A. M. Stern, Dean of the Yale School of
Architecture.[37]

In spring 2015, Peter Salovey, the President of Yale University, announced that Schwarzman contributed $150 million to fund a campus center
Plaque in New York City, New
in the university's historic "Commons" dining facility.[38][39] Additionally, Schwarzman is also a member of the Berggruen Institute's 21st
York, USA honoring Stephen A.
Century Council.[40] Schwarzman contributions

He has sat on the Board of Trustees of New York-Presbyterian Hospital since 2016.[41]

In early 2018, it was announced that Schwarzman gave $25 million to Abington High School, his alma mater. However, this donation was contingent on several conditions,
including naming rights to the school. After the public learned about the deal, a new agreement was made and Schwarzman removed several of the conditions for his donation,
including renaming the school.[42]

In October 2018, Schwarzman donated $350 million to the Massachusetts Institute of Technology.[43]

In June 2019, the University of Oxford announced that Schwarzman had donated £150 million to establish the Schwarzman Centre for the Humanities.[44]

Personal life [ edit ]

Schwarzman married his first wife Ellen Philips in 1971, a trustee of Northwestern University and the Mount Sinai Medical Center, and they divorced in 1990. They have three
children together, one of whom is film producer Teddy Schwarzman.[45][46]

Schwarzman married his second wife Christine Hearst in 1995, an intellectual-property lawyer who grew up on Long Island, New York.[45] She has one child from a previous
marriage.[17]

He lives in a duplex apartment at 740 Park Avenue previously owned by John D. Rockefeller Jr. Schwarzman purchased the apartment from Saul Steinberg.[47][48] He spent $20
million on his seventieth birthday party.[49][50][51]

Other [ edit ]

Schwarzman has been an adjunct professor at the Yale School of Management and was chairman of the board of trustees of the John F. Kennedy Center for the Performing Arts
from 2004 to 2010.

In December 2018, Schwarzman was awarded the Order of the Aztec Eagle, Mexico's highest honor for foreigners, by President Enrique Peña Nieto in recognition of Schwarzman's
work on behalf of the U.S. in support of the U.S.-Mexico-Canada Agreement.[52]

References [ edit ]

1. ^ a b c d "Stephen Schwarzman" . Forbes. Retrieved
April 5, 2019.
2. ^ "Stephen Schwarzman: Blackstone's $10 Billion Man"
Forbes. Retrieved November 28, 2014.
3. ^ a b c Nocera, Joe (February 8, 2017). "Steve
Schwarzman Explains Why He Counsels Trump"
Retrieved March 29, 2017 – via Bloomberg.
4. ^ "Live From New York, It's Steve Schwarzman"
New York Times. Retrieved December 4, 2016.
5. ^ "The world's 50 Richest Jews: 31-40 – Jewish World –
The Jerusalem Post" . Jpost.com. Retrieved December 4,
2016.
6. ^ "WEDDINGS - Christine Hearst, S. A. Schwarzman"
NYTimes.com. November 5, 1995. Retrieved December 4,
2016.
7. ^ "Past Award Recipients" . Abington.k12.pa.us. June 24,
2009. Retrieved December 4, 2016.
8. ^ Evan Thomas and Daniel Gross, "Taxing the Super Rich",
Newsweek, July 23, 2007
9. ^ Andrew Clark, "The Guardian profile: Stephen
Schwarzman", The Guardian, June 15, 2007
10. ^ "The 25 Most Successful Harvard Business School
Graduates" . Business Insider. Retrieved November 28,
2014.
11. ^ David Carey; John E. Morris (2010). King of Capital: The
Remarkable Rise, Fall, and Rise Again of Steve
Schwarzman and Blackstone . New York: Crown
Business. pp. 13–30.
12. ^ "Team Information – Steven Schwarzman"
Archived from the original (PDF) on May 6, 2006.
Retrieved April 17, 2006.
13. ^ King of Capital, pp. 45–56
14. ^ [1] Archived July 21, 2012, at the Wayback Machine
15. ^ Michael Flaherty, "Blackstone Co-Founders to Get $2.3
Billion Post IPO", Reuters, June 11,
16. ^ King oReferencesapital, p. 3
17. ^ a b Andrew Clark. "profile: Stephen Schwarzman |
Business" . The Guardian. Retrieved December 4, 2016.
20. ^ "Trump reviews top White House staff after tumultuous
start" . Retrieved March 29, 2017.
. 21. ^ "Tycoon finds money can't buy him love" . Retrieved
March 29, 2017.
22. ^ Jonathan Alter (August 15, 2010). "Schwarzman: 'It's a
. War' Between Obama, Wall St" . Newsweek.
23. ^ Neil Brooks; Linda McQuaig (April 1, 2012). "How
. The billionaires destroy democracy" . Salon.com.
24. ^ Clark, Andrew (August 17, 2010). "Blackstone billionaire
is sorry for Nazi jab against Obama's tax policies"
Retrieved March 29, 2017 – via The Guardian.
25. ^ Moritz, Michael (February 7, 2017). "Stephen
. Schwarzman's Bad Business Advice" . Retrieved
March 29, 2017 – via NYTimes.com.
26. ^ DiChristopher, Tom (January 20, 2016). "Wall Street
CEO: I'd pick Trump over Cruz" . Retrieved March 29,
2017.
27. ^ Egan, Matt (April 29, 2015). "Blackstone CEO: GOP field
way stronger than 2012's 'Seven Dwarfs' " . Retrieved
March 29, 2017.
28. ^ Dayen, David (May 27, 2017). "Trump's 'America First'
Infrastructure Plan: Let Saudi Arabia and Blackstone Take
Care of It" . The Intercept. Retrieved June 10, 2017.
29. ^ Alesci, Cristina (May 21, 2017). "Blackstone for
American infrastructure" . CNN. Retrieved June 10, 2017.
"In late 2016 a"
30. ^ "Trump Taps Steve Schwarzman, Jamie Dimon And
Mary Barra For Advice On Job Creation, Growth" . 47. ^ "740 Park | Michael Gross" . Mgross.com. Retrieved
(PDF). Forbes.
31. ^ "Most Influential 50 Are the Bankers, Investors Who
Move Markets" . Bloomberg. Retrieved October 31,
2014.
32. ^ "Bloomberg's Fifty Most Influential" . Bloomberg.
Retrieved September 23, 2016.
33. ^ Stewart, James B. "The Birthday Party" . The New
Yorker. Conde Nast. Retrieved December 5, 2014.
34. ^ "Time 100 (2007) – Stephen Schwarzman" . Time. May
3, 2007. Retrieved November 17, 2008.
37. ^ Julia La Roche (April 21, 2013). "Billionaire Steve
Schwarzman Has Donated $100 Million To Start His Own
Version Of The Rhodes Scholarship" . Business Insider.
38. ^ "YaleNews | $150 Million Gift by Stephen A.
Schwarzman to Establish First-of-its-Kind Campus Center
at Yale University" . News.yale.edu. May 11, 2015.
Retrieved December 4, 2016.
39. ^ "Stephen A Schwarzman Gives $150 Million for Yale
Cultural Hub" . The New York Times. Retrieved
. December 4, 2016.
40. ^ "Berggruen Institute" .
41. ^ "Hospital Leadership - Board of Trustees" . New York
Presbyterian. Retrieved July 7, 2019.
42. ^ Strauss, Valerie (April 12, 2018). "Billionaire offered $25
million to high school alma mater. What he wanted in
return was too much for the district" . The Washington
Post.
43. ^ Lohr, Steve (October 15, 2018). "M.I.T. Plans College for
Artificial Intelligence, Backed by $1 Billion" . The New
York Times.
44. ^ Adams, Richard (June 19, 2019). "Oxford to receive
biggest single donation 'since the Renaissance' " . The
Guardian. Retrieved June 19, 2019.
45. ^ a b Toobin, Jeffrey (July 15, 2014). "The Birthday
Party" . The New Yorker. Retrieved December 4, 2016.
46. ^ "Ellen Zajac and Teddy Schwarzman" . The New York
Times. November 11, 2007. Retrieved December 4, 2016.
December 4, 2016.
48. ^ Toobin, Jeffrey (July 15, 2014). "The Birthday Party" .
The New Yorker. Retrieved December 4, 2016.
49. ^
https://www.nytimes.com/2017/02/13/business/dealbook
/stephen-schwarzman-palm-beach-party-trump.html
50. ^ https://www.counterpunch.org/2019/11/01/the-
political-economy-of-homelessness/
51. ^ https://www.townandcountrymag.com/the-
scene/parties/news/a9556/steve-schwarzman-birthday-

18. ^ https://rdif.ru/Eng_fullNews/53/
19. ^ "Russian Direct Investment Fund Announces
International Advisory Board"
35. ^ Robin Pogrebin (March 11, 2008). "Stephen party/
Schwarzman – New York Public Library" . The New York 52. ^ "President Confers Mexican Order of Aztec Eagle on co-
. Russian Direct
Times. Retrieved December 4, 2016. founder and CEO of the Blackstone Group Stephen Allen

Investment Fund. September 16, 2011. 36. ^ "Billionaire Trump Adviser Donates to Israel National Schwarzman" . Presidencia de la República. gob.mx.
Library" . USA Today. Associated Press. February 8, 2018.

Further reading [ edit ]

King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone.
Greed and Glory on Wall Street—The Fall of the House of Lehman by Ken Auletta, The Overlook Press, New York, ISBN 1-58567-088-X

External links [ edit ]

Fortune: Wall Street's Hottest Hand Blackstone CEO Steve Schwarzman has built a powerhouse unlike any other.
Schwarzman Scholars
Schwarzman feels the agony of victory NYTimes, 2015
Appearances on C-SPAN
Bloomberg: Q&A With Steve Schwarzman: “There Are No Brave Old People in Finance”

V·T·E Private equity and venture capital investors [show]

Authority control BNF: cb165718989 (data) · ISNI: 0000 0003 6777 3924 · NKC: vse2018979221 · VIAF: 232321058 · WorldCat Identities (via VIAF): 232321058

Categories: 1947 births Living people 20th-century American businesspeople 21st-century American businesspeople 21st-century philanthropists American billionaires
American chairmen of corporations American chief executives of financial services companies American financial company founders American financiers
American investment bankers American investors American money managers Benefactors of Yale University Businesspeople from Pennsylvania
Chief executives in the finance industry Harvard Business School alumni Jewish American philanthropists Lehman Brothers people New York (state) Republicans
People from Montgomery County, Pennsylvania Private equity and venture capital investors Stock and commodity market managers The Blackstone Group people
Yale College alumni Yale School of Management faculty

This page was last edited on 24 November 2019, at 22:38 (UTC).

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