The Blackstone group initial public offering is turning out to be a well-covered affair. People are really picking apart its registration material. The latest is that Blackstone executives--this is not a surprise--will reap more than $2.3 billion when offering occurs sometime next week. The much-anticipated disclosure offers a glimpse of current compensation as well. CEO Stephen Schwarzman made nearly $400 million in cash last year. He'll make up to $677 million of the $3.9 billion in proceeds from the deal. Historically, the firm's top executives have not taken a salary or bonus, receiving instead from their ownership stakes. Also last year, senior chairman Peter Peterson made $212.9 million, while COO Hamilton James made nearly $100 million.
Our take on this news: Good for Blackstone, they work hard and have tried to maximize value.
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