How Blackstone CEO Stephen Schwarzman Got $786 Million For a Year’s Work

Blackstone Group CEO and co-founder Stephen Schwarzman got paid more than $786 million for 2017. It may not be a record payout for the head of a publicly traded company--Och-Ziff Capital Management’s Daniel Och took home $1.19 billion in 2008 and $918.9 million the year before--but it’s a whopping package by any measure.

What’s it based on, though? It certainly wasn’t Schwarzman’s salary.

As detailed in the private equity firm’s annual report, filed Thursday, Schwarzman only got...

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