Stephen Schwarzman earned $1.24 billion in compensation in 2025, a 20% increase from the previous year, with the majority stemming from dividends on his roughly 20% stake in Blackstone. His relatively modest salary of $350,000 contrasts sharply with his total compensation, reflecting his substantial ownership position in the asset management titan that achieved record profits.
The company offers a platform that helps mobile app developers market their apps and was formed in 2021 through a merger of Liftoff and Vungle. Blackstone acquired the majority of its shares at the time and the finance giant also appointed new leadership, meaning it is no longer a founder-run company. After the offering, Blackstone will remain the majority shareholder, according to the S-1 filing.
During a September presentation, Gray said the firm's job acceptance rate for its 2025 analyst class dropped to just 0.2%, with 57,000 applications for just 138 entry-level roles. That's down from the already incredibly selective 0.4% in 2021, when 29,000 people applied for 103 first-year analyst roles. As the industry continues to grow in size - Blackstone, for its part, is managing over $1 trillion for clients - the private equity career path has stepped front and center for ambitious young people.
