Stephen Schwarzman

Chairman and CEO, Blackstone

$42.7B

$46.9M (0.1%)

as of 06/20/25

About Stephen Schwarzman

The son of a dry goods store owner, Stephen Schwarzman founded private equity firm Blackstone with fellow billionaire Peter Peterson in 1985.

Initially a boutique merger-and-acquisition advisory business, Blackstone grew into the world's largest buyout firm, with over $1 trillion in assets.

While Peter Peterson (d. 2018) retired shortly after Blackstone's 2007 IPO, Schwarzman still presides over the business as chairman and CEO.

Schwarzman got his start on Wall Street at Lehman Brothers; he writes in his 2019 memoir about mistakes by management at that firm.

He started his first business, a lawn-mowing operation, at age 14, employing his younger twin brothers to mow while he brought in the clients.

Personal stats

Citizenship

United States of America

Source of wealth

Investments

Residence

New York, New York

Marital status

Married

Birth date

02/14/47 (age 78)

Number of children

Education

Master of Business Administration, Harvard Business School; Bachelor of Arts/Science, Yale University

Self-made

self-made