Blackstone boss pockets USD 702 million

According to the US American investor protection organisation, Corporate Library, Blackstone boss Stephen Schwarzman pocketed a whopping USD 702.4 million in 2008. This figure makes him by far the top paid US manager. Oracle boss Ellison follows suit with USD 556.9 million. Schwarzman’s amount resulted mainly from the allocation of shares with the initial public offering of his investment company Blackstone. Back in February, Schwarzman, along with his partner Peterson, announced that they would not take bonuses for 2008 due to the economic developments … otherwise the amount would presumably have been significantly higher still. Blackstone is well known as the main shareholder in the second largest leisure corporation in the world, Merlin Entertainments. They own various resorts including Heide-Park in Soltau, Germany, Gardaland in Italy, the various Legoland resorts as well as the numerous SeaLife centres. (eap)