The Real Deal New York

Here’s how much Blackstone’s heir apparent Jonathan Gray made last year

Pay gaps between top execs and the rest of the staff will be an item to watch as Gray takes over
March 04, 2018 04:18PM

Jonathan Gray. (Credit from back: Pixabay, University of Miami)

Jonathan Gray’s take-home compensation package was one of Blackstone’s biggest at $275 million, but Gray still pocketed far less than the group’s CEO Stephen Schwarzman.

As the leader of the group, which manages funds worth about $434 billion, Schwarzman’s compensation was about $800 million, according to The Financial Times.

Compensation is one of the key issues insiders are watching, the Times reports, now that Gray, the former head of the group’s real estate division, has been tapped to be the group’s president and COO, a step many see as affirmation that he will succeed Schwarzman. Staffers wonder whether huge differences between top executives’s pay and everyone else will persist under Gray.

For a point of comparison, Schwarzman’s long-time rival BlackRock’s Larry Fink was compensated $25 million in 2016 while that year the Blackstone CEO took home $425 million. [FT]Erin Hudson