Stephen Allen Schwarzman is the Chairman, CEO, and Co-founder of Blackstone Group, an American alternative investment management company. Blackstone is one of the world’s leading investment companies. Stephen co-founded the company with Peter G. Peterson in 1985. As of April 2023, according to Forbes, Stephen Schwarzman has a net worth of $28.5 billion.
Stephen started his career by working with Donaldson, Lufkin & Jenrette, an investment bank. Later, he joined Lehman Brothers and, through hard work, became the managing director. After some time, he rose to the position of head of global mergers and acquisitions business at Lehman Brothers. In 1985, Stephen and Peter Peterson started a company named Blackstone Group, which focuses on mergers and acquisitions.
With Stephen's guidance, Blackstone branched out into business acquisitions, real estate, direct lending, alternative assets, and many more. Stephen worked hard for the development and growth of the company along with Peter Peterson. In 1990, the company launched its hedge funds business, initially intended to manage investments for Blackstone senior management, and in 1991, it created its Europe unit. With Schwarzman’s hard work, the company started to grow rapidly. In 2002, Blackstone acquired Houghton Mifflin Company with Thomas H. Lee Partners and Bain Capital.
In 2007, Blackstone Group went public. Stephen was named a member of the international advisory board of the Russian Direct Investment Fund in 2011. Schwarzman was chairman of former President Donald Trump’s Strategic and Policy Forum.
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Stephen Allen Schwarzman was born on February 14th, 1947, in Huntingdon Valley, Pennsylvania. Stephen studied in the Abington School District in suburban Philadelphia and later went to Abington Senior High School. Schwarzman attended Yale University for his higher education and served in the U.S. Army Reserve. After his army service, Stephen completed his graduation from Harvard Business School.
