Blackstone CEO Earns Over $1.2 Billion Amid Record Profits
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 28 2026
0mins
Source: Benzinga
- Record Earnings: Blackstone CEO Steve Schwarzman earned over $1.2 billion in 2025, nearly matching his record earnings of $1.27 billion in 2022, indicating the firm's sustained profitability and reinforcing its leadership in the global asset management sector.
- Dividends and Incentives: Schwarzman's earnings included $1.1 billion in dividends and $125.6 million from carried interest, highlighting his significant shareholder status and reflecting Blackstone's strong performance in capital returns.
- Executive Compensation Growth: COO Jon Gray's total compensation reached $302.6 million in 2025, up from 2024, demonstrating the company's performance-linked incentive measures aimed at attracting and retaining top talent.
- Market Performance Analysis: Blackstone's market capitalization stands at $135.39 billion, with a 27.97% decline in stock price over the past year; however, the firm reported total revenue of $14.45 billion for 2025, showcasing its resilience amid market fluctuations.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy BX?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on BX
Wall Street analysts forecast BX stock price to rise
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 114.190
Low
166.00
Averages
176.60
High
205.00
Current: 114.190
Low
166.00
Averages
176.60
High
205.00
About BX
Blackstone Inc. is an alternative asset manager. Its asset management includes global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Its Real Estate segment comprises its management of opportunistic real estate funds, Core+ real estate funds, and real estate debt strategies. Its Private Equity segment includes its management of flagship Corporate Private Equity funds, sector and geographically focused Corporate Private Equity funds, core private equity funds, an investment platform, and others. Its Credit & Insurance segment consists of Blackstone Credit & Insurance, which is organized into three overarching strategies: private corporate credit, liquid corporate credit and infrastructure and asset-based credit. Its Multi-Asset Investing segment is organized into four investment platforms: Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

- Analyst Rating Divergence: RBC Capital Markets initiated coverage of Blackstone Digital Infrastructure Trust with an Outperform rating and a $24 price target, citing strong growth potential from AI-driven infrastructure demand, while BMO Capital Markets urged caution over execution and valuation risks.
- IPO Fund Utilization Plan: The trust completed its IPO in May, raising approximately $2 billion, and currently owns no assets, planning to deploy proceeds into newly constructed, stabilized data centers leased to major tenants including Amazon, Microsoft, Meta, and Alphabet.
- Acquisition Potential and Market Outlook: RBC highlighted Blackstone's extensive relationships with hyperscalers and a near-term acquisition pipeline estimated at $25 billion as key growth drivers, while BMO estimated hyperscaler capital spending will exceed $750 billion in 2026, indicating strong market demand.
- Strong Industry Fundamentals: Both firms emphasized robust industry fundamentals driven by accelerating AI investment and tight data center supply, supporting long-term demand for digital infrastructure assets, although BMO noted that the company's success heavily relies on timely capital deployment and maintaining favorable cost of capital.
See More
- Massive Financing: Apollo and Blackstone are jointly financing a $35 billion expansion of Anthropic's AI computing capacity, with an initial commitment to increase its capacity by one gigawatt, enough to power approximately 750,000 homes, reflecting a strong response to the demand for AI infrastructure.
- Deepening Partnership: This collaboration will leverage Broadcom's custom chips and networking solutions, aiming to provide over 20 gigawatts of computing capacity for leading AI labs by 2028, further solidifying Broadcom's market position in the AI sector.
- Infrastructure Development: Fluidstack will provide the physical data center infrastructure, with deployment expected to begin in mid-2026, ensuring that Anthropic's AI systems can operate efficiently to meet the growing computational demands.
- Industry Trends: As AI demand surges, private equity firms are emerging as crucial funding sources for AI companies, and this deal paves the way for Broadcom's growth in the AI business, helping to reduce reliance on Nvidia.
See More
- Investor Inflows Rebound: Blackstone experienced a 50% increase in individual investor inflows in June compared to the previous two months, returning to first-quarter levels, indicating a gradual recovery in market confidence that could positively impact the firm's asset management business.
- Private Credit Outflows: For the first time this year, private credit funds for wealthy individuals saw more withdrawals than new commitments, reflecting investor anxiety about market conditions, which may pose challenges for the firm's fundraising efforts in this sector.
- Strong Private Equity Performance: Despite reduced inflows in credit, Blackstone recorded its best inflows in private equity since the product's launch in June, suggesting robust demand from high-net-worth clients that could drive further expansion in this area for the company.
- Diverging Market Confidence: Jon Gray, Blackstone's president, highlighted a clear distinction between investor appetite for credit and equity, noting that current uncertainties in the credit market may affect overall fund flows, while the strong performance in private equity could provide new growth momentum for the firm.
See More
- Market Recovery: U.S. stocks are set for a higher open, with the S&P 500 and Nasdaq poised to recover some ground after last Friday's massive selloff, supported by lower oil prices and bond yields, indicating improved market sentiment.
- SpaceX IPO Surge: Bloomberg reports that SpaceX's IPO is well oversubscribed, with institutional investors placing orders for $10 billion worth of shares, and while institutional orders are expected to close after Wednesday, retail investors can still participate, reflecting strong market interest in the offering.
- Accelerated AI Investment: China plans to spend $295 billion over the next five years to build AI data centers, aiming to enhance its competitiveness against the U.S. by creating interconnected digital hubs that provide broader access to computing power, highlighting the global emphasis on AI technology.
- GSK Acquisition Plans: GSK announced plans to acquire U.S. drugmaker Nuvalent for $10.6 billion, resulting in a nearly 39% surge in Nuvalent's shares, indicating active merger activity in the pharmaceutical sector and potentially providing GSK with new growth opportunities.
See More
- Massive Financing Scale: Apollo and Blackstone have secured a $35 billion private credit financing package for AI startup Anthropic, marking one of the largest private credit deals in history, reflecting strong market confidence in AI technology.
- Clear Use of Funds: The financing will fund Anthropic's acquisition of AI chips developed by Alphabet, indicating the company's strategic positioning in AI hardware to enhance its technological capabilities and market competitiveness.
- Risk Mitigation Measures: The financing is divided into three tranches, with approximately $6 billion in senior debt priced at just 1 percentage point above U.S. Treasuries, and Broadcom's support for interest payments significantly lowers borrowing costs, boosting investor confidence.
- Investor Information Restrictions: Despite the substantial financing, investors evaluating the deal were not granted early access to Anthropic's financial information, which could impact market reactions to its future IPO, highlighting a demand for transparency in such large transactions.
See More
- AI Rollup Strategy: Venture capital firms in Silicon Valley are shifting from selling AI tools to acquiring legacy companies and rebuilding them around AI, marking a significant change in the enterprise software market dynamics.
- Major Deal Examples: Over the past six months, General Catalyst and Trian executed a $7.6 billion take-private of Janus Henderson and a $6.3 billion acquisition of American Express Global Business Travel at a 65% premium, reflecting strong market confidence in AI transformation.
- Industry Impact: The AI rollup strategy targets industries with lagging software adoption, such as healthcare and accounting, posing challenges for traditional private equity firms that rely on financial engineering, potentially reshaping the competitive landscape.
- Technological Advantage: Long Lake's Nexus platform has demonstrated five times the efficiency of general-purpose models like Claude or ChatGPT in internal evaluations, indicating that embedding engineers within companies can lead to sustainable technological change.
See More










