Blackstone CEO Earns $1.2 Billion as Firm Posts $14.45 Billion 2025 Revenue
Steve Schwarzman earned $1.2 billion in 2025, including $1.1 billion in dividends and $125.6 million in carried interest, as Blackstone delivered record profit. The firm reported $14.45 billion in full-year 2025 revenue and forecasts a surge in IPO activity for 2026.
1. Executive Compensation Highlights
Steve Schwarzman’s total compensation for 2025 exceeded $1.2 billion, comprised of $1.1 billion in dividends from his equity stake and $125.6 million in carried interest and incentive fees. Jon Gray, president and COO, earned $302.6 million, including $206.5 million in dividends and $96.1 million in carry and stock awards.
2. Record 2025 Financial Results
Blackstone reported a record $14.45 billion in total revenue for 2025, driven by strong performance across private equity, real estate and credit businesses. The firm’s profit surge underpinned its ability to sustain elevated dividend distributions to key executives.
3. 2026 IPO Outlook
Jon Gray has labeled 2026 the “year of the IPO,” citing accelerating dealmaking and a robust pipeline of exit opportunities. Management expects new listings and fundraising activity to support fee growth and diversify revenue sources.
4. Market Performance Metrics
Blackstone’s market capitalization stands at $135.4 billion, with a 52-week high of $190.09 and low of $111.04. The stock’s Relative Strength Index is 26.78, and its price has declined 27.97% over the past 12 months.