In 2017, Wall Street bosses earn pours. Steve Schwarzman, co-founder of Blackstone Group, earned more than Wall Street.
According to the Blackstone Group’s annual report to the Securities and Exchange Commission (SEC) on March 1, Schwarzman, the co-founder of Blackstone Group, received $ 786.5 million in revenue in 2017, the highest annual revenue he ever made.
Of this total, 661 million U.S. dollars in dividends and 123 million U.S. dollars in shareholding interests are the main reasons for his high income. In addition, his annual salary of 350,000 US dollars, other income of 1,345,000 US dollars.
Blackstone Group is a world-renowned private equity and investment management company, and Schwarzman owns a 19% stake in the company.
According to Bloomberg, among other Wall Street chiefs, Leon Black of Apollo Global Management LLC received $ 191.13 million in revenue last year; David Rubenstein, co-founder of Carlyle Group LP, Bill Conway and Dan D’Aniello have collectively allocated 193 million U.S. dollars in annual revenue. Henry Kravis of KKR & Co. and George Roberts received a total of 343 million U.S. dollars in revenue.
Although Schwarzman’s annual revenue is above the revenue of most S & P 500-listed executives, the upstart revenue for the technology sector is equally staggering.
Since last year did not meet the internal performance targets, Snap (Snapchat’s parent company) listed last year will not have a dividend in 2017. However, according to the company’s latest annual report, company co-founder and CEO Evan Spiegel still earned as much as $ 637 million in revenue last year. Imran Khan, the company’s chief strategy officer, also has $ 100 million in revenue.
According to Business Insider, Spiegel’s high income comes primarily from one-time stock rewards and will receive a bonus as a reward for the successful listing of Snap Group. Spiegel’s annual compensation accounted for 77% of Snap’s total revenue last year.
The market is not convinced that Snap’s internal unrealized goals for 2017 are too vague. Employees were told there was no dividend in 2017, which could be in sharp contrast with Spiegel’s super-annual revenue, which is not conducive to motivating employees.
Snap last fiscal year revenue reached 286 million US dollars, an increase of 72%, higher than Wall Street’s expectations. But even so, Snap was in turmoil in 2017, including the plunge in share prices after the IPO, changes in the advertising business, and the departure of senior executives.