[48], In early 2008, Schwarzman announced that he contributed $100 million toward the expansion of the New York Public Library, for which he serves as a trustee. The former Lehman Brothers CEO served as President Richard Nixons secretary of Commerce, chairman of the Council on Foreign Relations and chairman of the Federal Reserve Bank of New York. Schwarzman and his wife, Christine Hearst (yes, as in the Hearsts), recreated their expansive apartment in the cavernous Park Avenue Armory. After two children (one of whom is the film producer and founder of Black Bear Pictures, Teddy Schwarzman) and 19 years, the couple called it a day in 1990. His rise up the ranks was rapid; by the time he was just 31 years old, Schwarzman had reached the position of Managing Director. (Courtesy of Blackstone Group) His family founded Stephens Inc., the Little Rock investment bank, which underwrote Walmarts public offering in 1970. More than 200 chipped in to support their favorite presidential candidates. It took a little high school in Pennsylvania to do what Yale would not, he said, chuckling. She later remarried Steve Schwarzman in 1995, one of the worlds most powerful financiers and co-founder of Blackstone group. What is the profession of Stephen Schwarzman? As Cardinal Dolans visitors explained it to him, the theme for the Costume Institutes big exhibition for 2018 was to be Heavenly Bodies, a tribute to the Catholic imagination. Later it was owned by Saul Steinberg, who sold it to Mr. Schwarzman after Mr. Steinbergs company, the Reliance Group, went into bankruptcy. After Mr. Peterson lost control of Lehman in 1984 and left the company, Mr. Schwarzman was behind the putsch that drove their enemies from power. And he is still, most definitely, on the Republican radar screen. To read more about Yass political contributions go here. On the guest list that night were dignitaries such as Colin Powell, Donald Trump and mayor Michael Bloomberg, as well as celebrities such as Patti LaBelle and Rod Stewart, both of whom treated their host to private performances. . His first wife was Ellen Philips, whom he had met while studying at Harvard. She currently resides in New York City. The job puts him at the hub of the Washington social scene and traditionally serves as an entree into town. Currently, they reside at 740 Park Avenue in a triplex that cost a cool $30 million in 2000. In September 2017, Cardinal Egans successor at the archdiocese, Cardinal Timothy Dolan, received a visit from a couple of people representing the Metropolitan Museum of Art. I want war, not a series of skirmishes, hes been quoted as saying. Susan Mandel also donated $1.3 million to Planned Parenthoods super-PAC. Obama later drafted a formal message of support for Schwarzman Scholars, an education initiative undertaken by Schwarzman. Blackstone points out that these sums reflect the fact that Schwarzman . Make no mistake about it, while the world of Televangelism has a 24/7 global reach, virtually all of the TV, Read More Dissecting the Multi Billion Dollar Business of TelevangelismContinue, Menards is a successful chain of home improvement centers that is comparable to Lowes, Home Depot and other supply retailers. Both are now big Democratic donors. Peterson has been lobbying against the bill on the Hill and in the Treasury Department. Whatever your opinion on Schwarzman, hes not easily dismissed. Your email address will not be published. "[21], In September 2011, Schwarzman was listed as a member of the international advisory board of the Russian Direct Investment Fund. Exactly. At the Met, weve been extraordinarily lucky to partner with Stephen and Christine Schwarzman, who, like the philanthropists whove gone before them, have always supported everything from arts and culture to education to Catholic charities. According to Forbes, he had a net worth of $12.4 billion as of August 2018, increasing to $19 billion as of October 2020. . The economist is married to Christine Mularchuk Hearst , his starsign is Aquarius and he is now 75 years of age. Over the next few months, Congress launched a private equity pile-on. The job got him a private lunch with Laura Bush in the White House residence. In 1995 he married a lawyer named Christine Hearst. Here are the donors Forbes found, ranked in order of how much they spent and listed with their donation converted to an equivalent sum based on the median household income. Stephen A. Schwarzman, CEO of the Blackstone Group: Net Worth, Wiki Mr. and Mrs. Schwarzmans friends at the archdiocese are happy. Besides pouring millions into super-PACs supporting Joe Biden and other Democrats, LinkedIn cofounder Hoffman took a slightly different approach to his political spending. [45] Marvel Entertainment chairman Perlmutter has long been loyal to Trump, a neighbor in Palm Beach, Fla. About 95% of the Perlmutters contributions went to committees vying to reelect the president. To find out more, keep reading. In 2013, Schwarzman provided the full financial backing needed to launch Schwarzman Scholars, an international scholarship program at Tsinghua University in Beijing that aims to educate future global leaders about China. But even if you dont count the billion-plus dollars that went to his own campaign, Bloomberg still would have donated more than all but two billionaires to the 2020 election. Shortly afterward, the Mets leadership announced that the museum was eliminating the jobs of up to 100 people in administrative, conservationist and curatorial positions in an effort to address a ballooning $30 million deficit. Last week, members of the Senate Finance Committee asked five private equity firms to detail their investment stakes in nursing homes and to provide copies of contracts about their operations. [45] In 2016, Schwarzman was again named as one of Bloomberg's 50 Most Influential people of the year. They compare the current tax battle with the fight Microsoft and the technology industry had in the mid-1990s. Photograph: Domenico Stinellis/AP Fashion Fashion meets. He also gave $2 million to a group supporting one particular Republican senator, Susan Collins of Maine. Schwarzman, as we know already, has a big income and he has absolutely no hesitation in spending that income any damn way he pleases. Christine Hearst Schwarzman Lawyer. The often-pugnacious hedge fund titan, who has a history of supporting both conservative and LGBTQ political causes, staunchly opposed Donald Trump in 2016. Last Valentine's Day, Schwarzman reportedly spent $3 million on a lavish birthday bash. The bride is the stepdaughter of Christine Hearst Schwarzman and of Howard C. Katz. As of 2015, Stephen Schwarzman has a net worth of 11 billion USD. And just one person donated more than half that sum. [10], Schwarzman's first job in financial services was with Donaldson, Lufkin & Jenrette, an investment bank that merged with Credit Suisse in 2000. Stephen has been married a total of two times so far. No wonder Warren was willing to spend more than $10 million to get Trump reelected.

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