Multi-billionaire businessman and philanthropist Stephen A. Schwarzman acts as the Chairman and CEO of The Blackstone Group. He briefly worked for six months, as Chairman of President Donald Trump’s Strategic and Policy Forum before its dissolution. He was honored the Order of the Aztec Eagle, Mexico’s highest honor for foreigners, by President Enrique Peña Nieto.
Stephen Allen Schwarzman was born in Philadelphia, Pennsylvania, the U.S. on February 14, 1947, to Arline and Joseph Schwarzman. His father was the owner of Schwarzman’s, a former dry-goods store in Philadelphia and was a graduate of the Wharton School.
As per his nationality, Schwarzman is an American by birth and belongs to the White ethnic group. He shares the star sign of Aquarius. He grew up in a Jewish family in Huntingdon Valley, Pennsylvania.
Stephen A. Schwarzman completed his school level education from Abington School District and Abington Senior High School. After completing his school education, he enrolled at Yale University and graduated in 1969. He attended and graduated from Harvard Business School in 1972.
Schwarzman has been married twice in his life. His first wife was with Ellen Philips whom he wedded in 1971. Ellen is a trustee of Northwest University and also the Mount Sinai Medical Center.
Furthermore, they have two children together; one of whom is a very popular media figure, Teddy Schwarzman, a producer and former corporate lawyer. Due to some issues in their relationship, they divorced in 1990.
He is currently married to Christine Hearst in 1995. His second wife, Christine is an intellectual-property lawyer from Long Island, New York. The couple is yet to have children together but had children from their previous marriages.
However, the couple is leading a happily married life without any conflict in their relationship.
The Multi-millionaire businessman’s net worth, as of April 2019 is $14.6 billion. He was ranked at 117th on Forbes’ World’s Billionaire List. The rank has been upgraded to 100th place on its list, as of April 2019.
The son of a dry goods store owner, Stephen Schwarzman is the owner of Blackstone, which he founded in 1985 with fellow billionaire Peterson.
Blackstone, initially a boutique merger-and-acquisition advisory business that grew into the world’s largest buyout firm Blackstone with $512 billion in Assets Under Management.
Schwarzman began his career as a financial officer at Donaldson, Lufkin & Jenrette. Shortly afterward, he worked at Lehman Brothers, an investment bank at the age of 31.
Later in 1985, he and his boss Peter Peterson started The Blackstone Group which dealt with mergers and acquisitions. Slowly with patience, hard work, and dedication, he is able to take the company to its new heights.
He was listed as a member of the International Advisory Board of the Russian Direct Investment Fund, in September 2011.
Chairman and CEO of The Blackstone Group, is active on social works as well. He has helped many institutions and people in need with his charity works. Also, he donated a new football stadium to Abington Senior High School.
In 2008, he donated $100 million for the expansion of the New York Public Library, for which he serves as trustee.
Similarly, he contributed $100 million as a personal gift to establish a scholarship program in China in 2013.
Likewise, he also donated $10 million to Israeli National Library in 2018. The same year, he gave $350 million to the Massachusettes Institute of Technology.
He was honored with the title of Bloomberg’s 50 Most Influential People of the year in 2014 and 2015.