Schwarzman's $5 billion payday

When the Blackstone Group went public, it was commonly thought that Stephen Schwarzman would rake in about $2 billion or so. According to its just-filed annual report, he stands to make much more. He was given $4.77 billion worth of stock-related awards as part of the IPO. Twenty-five percent of those shares vested already; the rest will vest in equal parts over the next four years, according to the AP. That's in addition to $309.6 million in cash distributions. He doesn't get a bonus. The stock remains in the gutter, unfortunately, meaning Schwarzman obviously has an incentive to turn things around.  

For more:
- here's the AP article
- here's the annual report

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