Steve Schwarzman Earns More Than Record Lottery Winners

The transcript discusses the significant earnings of Steve Schwarzman in 2017, comparing it to lottery winnings. It highlights the lucrative nature of private equity, with substantial compensations in the industry. The conversation shifts to Blackstone, emphasizing its diverse operations beyond private equity, including real estate, hedge funds, and credit, with real estate being a major driver. John Gray's role in building Blackstone's real estate franchise is noted, showcasing the firm's comprehensive business model.

How much did Steve Schwarzman earn in 2017 compared to the largest lottery payout?

• He earned less than the largest lottery payout.

• He earned the same as the largest lottery payout.

• He earned $100 million less than the largest lottery payout.

• He earned $100 million more than the largest lottery payout.

What is meant by 'dry powder' in the context of private equity?

• Funds that are readily available for investment.

• A term for high-risk investments.

• Excessive spending by private equity firms.

• A type of investment strategy.

Which sector is the biggest driver of Blackstone's success?

• Private equity

• Hedge funds

• Real estate

• Credit

Who was named the president and Chief Operating Officer of Blackstone?

• Stephen A. Schwarzman

• Peter Peterson

• John Gray

• Steve Schwarzman

What is the primary focus of Blackstone's investment strategy?

• A mix of real estate, hedge funds, and credit

• Only hedge funds

• Only private equity

• Only credit