[1][38] In response to criticism for his involvement with the Trump administration,[39] Schwarzman penned a letter to current Schwarzman Scholars, arguing that "having influence and providing sound advice is a good thing, even if it attracts criticism or requires some sacrifice. Schwarzman has been an adjunct professor at the Yale School of Management and was chairman of the board of trustees of the John F. Kennedy Center for the Performing Arts from 2004 to 2010. As of 2023, she is around 70 years old. It's like when Hitler invaded Poland in 1939." Schwarzman later apologized for the analogy. In 1971, Schwarzman invited Kerry to speak at Harvard Business School.). Next, he worked at the 'Lehman Brothers' which was an . He is also the stepfather of a child that his second wife had from her previous relationship. A party for Denise Rich on St. Tropez, where the Schwarzman's own a home, things got so out of hand it had to be shut down early. Christine Hearst Schwarzman (m. 1995), Ellen Philips (m. 19711990) Son/Daughter: Yes (3 and one stepchild) Income: $60 Million: Net Worth: $20 Billion: Stephen Schwarzman Age and Birth Info. And obnoxious questions followed about which cost more, the party the couple was waltzing into or the one theyd recently held in Palm Beach, Fla., in honor of Mr. Schwarzmans 70th birthday. But plans to rename it after him were scrapped when people in the town nearly had a conniption. Mr. Schwarzman and his wife, Christine Hearst Schwarzman, have long been known for their themed Christmas parties. Hes also the newest Capitol Hill villain. [49] In 2018, Schwarzman donated $10 million to another library, the National Library of Israel. Schwarzman married his first wife Ellen Philips in 1971, a trustee of Northwestern University and the Mount Sinai Medical Center. Blackstone Group Chairman and Chief Executive Schwarzman worth. Inside a giant marquee on the 300-acre grounds at Wrotham Park, in Hertfordshire, which is about 30 minutes outside of London. Its a matter of confidentiality., Anyway, Mr. Salovey pointed out, there are hundreds of spaces on our campus named for donors.. How does a man people are inclined to make fun of usually wind up with the upper hand? Schwarzman was born and raised in a Jewish family in Huntington Valley, Pennsylvania. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. The marriage was blessed with three children, one of them is film producer Teddy Schwarzman. In August 2010, Schwarzman compared the Obama administration's plan to raise the tax rate on carried interest to a war and Hitler's invasion of Poland in 1939, stating, "It's a war. 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. Nevertheless, journalists called out their names. In November. Stephen and Christine Hearst Schwarzman, center, with a group of more than 90 beneficiaries of the Inner-City Scholarship Fund. Most people on Capitol Hill, members, staff, they really didnt have an understanding of private equity and hedge funds, said one Washington insider hired by Blackstone. Whether it was the party blow-out that led to testy relations in Washington, the media-loving Schwarzman has lowered his public profile since early summer. Megan Hearst, AMC CEO Kathryn Coyne, Christine Schwarzman, Stephen Schwarzman, AMC Chairman Robert Liberman, and Amy Stursberg. As the founding CEO and chair of the Blackstone Group (the worlds largest buyout firm), Stephen Schwarzman ranks as one of the worlds richest and most controversial figures. He could have ended up like most guys from a privileged background. The comment is rumored to have tanked his administration dreams. But even more interestingly, we hadn't known that Schwarzman's wife Christine Hearst Schwarzman -- a staple of Gotham's society pages -- is an intellectual property lawyer. While at Lehmans, Schwarzman worked under Chairman and CEO of the group, Peter George Peterson. 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. Despite being called out for his extravagant lifestyle, Schwarzman is clearly not one to let the haters get in the way of his enjoyment of the finer thing in life, certainly not when it comes to throwing a party, in any case. In 2007, Schwarzman led the biggest leveraged buyout in history when Blackstone acquired Equity Office Partners in a $34 billion deal. [45] In 2016, Schwarzman was again named as one of Bloomberg's 50 Most Influential people of the year. Venetian Heritage Inc. P.O. As well as numerous other prominent nonprofits. Schwarzman, who is known to joke about his interfaith marriage with Christine Hearst, a Roman Catholic, fund-raises for an array of Jewish and Catholic causes, such the Archdiocese of New York and . Wedding & Marriage / Husband / Engaged / Spouse / Partner. In 2007, the Blackstone Group went public, and Mr. Schwarzman earned hundreds of millions of dollars through the I.P.O. Showing Editorial results for christine schwarzman. She had on a shimmering gray Versace gown. 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. Since then, the investor dubbed the "King of Capital" in a 2011 book by David Carey and John Morrishas amassed both a fortune that Forbes magazine pegs at $18.1 billion and a reputation for philanthropic endeavors. He and his wife also take the time to write notes to each childthey sponsor through the Inner-City Scholarship Fund,whichprovides tuition assistance to underprivileged students attending Catholic schools in the Archdiocese of New York. It was she who arranged everything.. Stephen has a daughter, Elizabeth and a son, Edward from his first marriage to Ellen Philips. [46], In 2004, Schwarzman donated a new football stadium to Abington Senior High Schoolthe Stephen A. Schwarzman Stadium. New York Democratic Sen. Charles Schumer, a member of the Senate Finance Committee who is expected to introduce his own broad tax increase bill, received $8,000. He will assume his Kennedy Center responsibilities immediately. In addition to his contribution to the MIT Schwarzman College of Computing, Schwarzman has invested heavily in various other educational causes. Of this total, 699.8 million came from exercising options he received during the IPO. Schwarzman and his wife, Christine Hearst Schwarzman, are Republican party megadonors. [34][35] In February, Schwarzman was named as chair of the 16-member President's Strategic and Policy Forum, which brought together "CEOs of America's biggest corporations, banks and investment firms" to consult with the president on "how to create jobs and improve growth for the U.S. Garrett by trade is a personal finance freelance writer and journalist. 2014 - 2023 Marathi.TV - All Rights Reserved. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); For requests, complaints, suggestions or queries, contact us via E-mail below, Justine Musk Net Worth, Novels, Books, Wiki, Age Elon Musk Wife , Anupama Nadella Wiki, Family, Age, Caste Satya Nadella Wife Bio, Melanie Craft Wiki, Age, Bio, Net worth ( Larry Ellison Wife ) Divorce, Rebekah Paltrow Neumann Wiki, Age, Bio, Parents, WeWork Net Worth, Mackenzie Bezos Wiki, Age, Children, Net worth, House, Height, Wedding, Marina Acton Net Worth, Husband, Age, Ukraine Who is She Wiki Bio, Ted Jorgensen Wikipedia, Death ( Jeff Bezos Father Dad ) Age, Bio, Died. Republican staffers and investment fund colleagues quietly agree, comparing Schwarzmans party with a lavish party thrown by Tyco CEO Leo Dennis Kozlowski, now serving time for corporate fraud. He met his second wife in New York. His book became a New York Times Best Seller. Stephen Schwarzman has first served at the 'Donaldson, Lufkin & Jenrette' as a financial serviceman. Cardinal Dolan still cant entirely remember who they were. After divorcing Ellen, he married Christine Hearst, daughter of a fireman. Seven months later, Congress was still talking about the party. Soon after Stephen met Egan, the Schwarzmans began sponsoring students at Catholic schools, including All Hallows and Cardinal Spellman in the Bronx, and starting this year are increasing their endowment. Inspiration can come from anywhere. In 1995, Schwarzman married Christine Hearst, an intellectual-property lawyer who grew up on Long Island. [15][16] He ultimately received $684 million for the part of his Blackstone stake he sold in the IPO, keeping a stake then worth $9.1 billion. Whatever role Christine Hearst Schwarzman, an intellectual property attorney whose previous marriage into the publishing family ended in divorce, played in the decision, sources tell the. It wasnt supposed to work out like this. We are going to include below all the related information about him birthplace and Birthday as well. She attracts headlines for being someone who can attract wealthy husbands and spends money on lavish homes and birthday parties with stars such as Rod Stewart and Patti LaBelle performing. 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. [32], In early 2016, he said that in a two-candidate race he would prefer Donald Trump to Ted Cruz, saying that the nation needed a "cohesive, healing presidency, not one that's lurching either to the right or to the left. Schwarzman hosts an annual lunch for the entire group and keeps in touch with them individually throughout the rest of the year. His previous contributions include$150 million tohis alma mater, Yale,to establish itsfirst student and culture center, slated to open in September, and 150 millionBritish pounds to theUniversity of Oxford to create a new Centre for the Humanities. There are several reasons Mr. Schwarzman inspires enmity. In a letter to the students of the Schwarzman Scholars, Schwarzman defended his position with the comment having influence and providing sound advice is a good thing, even if it attracts criticism or requires some sacrifice. "Can you change something that's really important, that you think without it, it's going to go the wrong way?" To find out more, keep reading. And when they need an example of unadulterated private equity greed, the self-made Schwarzman with his estimated $7.3 billion net worth is their go-to guy. [68] They divorced in 1990. Christine Hearst Schwarzman. Marco Voena . He identified as center-right and said the eventual GOP nominee should appeal to independent voters, not the right wing of the Republican Party. [57], He has sat on the board of trustees of New York-Presbyterian Hospital since 2016. As a subscriber, you have 10 gift articles to give each month. 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. "Can you change something that's really important, that you think without it, it's going to go the wrong way?". Well, it is if you dont understand a least a smattering of German, Yiddish and Greek. Earlier this year, Mr. Schwarzman gave $25 million to the high school he had attended in Abington, Pa. Edward has been a successful producer and has set up the Black Bear Pictures, where he serves as President and CEO. His rise up the ranks was rapid; by the time he was just 31 years old, Schwarzman had reached the position of Managing Director. Christine Schwarzman and Stephen Schwarzman Angela Pham/BFA.com. It's like when Hitler invaded Poland in 1939. The story isnt quite true. After graduating in 1969 from Yale University, an institution he credits with shaping how he thinks and approaches the world, Schwarzman made his Wall Street debut at the private investment bank Donaldson, Lufkin& Jenrette. The lobbyists say the entire industry is under attack, necessitating a major pushback from the firms. and Rep. Rahm Emanuel (D-Ill.) are soon expected to announce a bill that would prevent hedge fund managers from using offshore shelters to defer taxes. In 2020, they donated $25 million to the Senate Leadership Fund, a super PAC committed to electing a. Born to Jewish parents, Schwarzmans father, Joseph owned a dry-goods store in Philadelphia and his mother was a homemaker. When they talk about private equity, Democrats in Congress describe greedy, risk-taking managers, benefiting from secret tax code loopholes. The new tax plan added $1 trillion of additional revenue by raising taxes, closing tax loopholes, and ending deductions. Stephen has been married a total of two times so far. [74], In 1999, Schwarzman received the American Academy of Achievement's Golden Plate Award.[75]. Knickerbockers guided guests to their tables, which were in a space designed to replicate the couples living room. Market data provided byFactset. [69][70] He spent millions of dollars on both his sixtieth and seventieth birthday parties. Theyre a manufacturing company that maintains an operation of cutting edge and advanced manufacturing, Read More 10 Things You Didnt Know About Arconic CEO Charles BlankenshipContinue, Oprah Winfreys entire life and career are enough to motivate anyone, and during her time in the spotlight shes dropped some truly inspirational gems. Over the next few months, Congress launched a private equity pile-on. Christine Hearst Schwarzman is an intellectual-property lawyer. Richard Ferlauto, director of investment policy at the American Federation of State, County and Municipal Employee, called into question the favorable tax breaks that had allowed the Blackstone CEO to accrue his wealth, and worried the CEO was setting a precedent in huge bonuses and incentives that would damage other businesses. Stephen A. Schwarzman and his wife, Christine, at a benefit in 2014. [17] In the following years, his compensations increased even more: he received $350 million in 2007[18] and $702.4 million in 2008[19] - partly due to stock awards. Partly, this is because his wife, Christine, is Catholic. than you're at proper place now. As well as receiving the two highest honors bestowed on individuals by the French government, Schwarzman has also been privileged with Mexicos highest honor for foreigners, the Order of the Aztec Eagle. The education campaign had to be quite extensive.. Christine Hearst Schwarzman is a trained lawyer. First: New York City has more residents worth at least $30 million than any metropolis on planet Earth, but it still regards itself as a progressive enclave. "[33] He had previously made a donation to Marco Rubio in 2014. [28][29] In 2012, Obama called Schwarzman and requested his assistance in brokering a budget agreement with Republicans in congress to avoid a fiscal cliff. Its their generosity along with that of my friend Donatella Versace that has made this brilliant and groundbreaking exhibition possible. As a child in the middle-class suburbs of Philadelphia during the 1950s, Schwarzman helped outin his familys linen store, soldcandy bars and light bulbs door-to-door and deliveredtelephone books. She's also quite the . He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with Peter G. Peterson, former chairman and CEO of Lehman Brothers and US Secretary of Commerce under President Richard Nixon. At the memorial, numerous attendees took note that Mr. Petersons most famous protg was not selected as a speaker. It is scheduled to open in 2020 and will be called the Schwarzman Center. The personal details of Stephen Schwarzman is given as below: Age: 73 years; Mother Name: Arline Schwarzman; Father Name: Joseph Schwarzman; Marital Status: Married; Wife: Christine Hearst Schwarzman, Ellen Philips; If you like this information, the share it on various social media pages or accounts. He and his wife helped underwrite the exhibition Heavenly Bodies: Fashion and the Catholic Imagination, handing over a check that two sources close to the museum said was in the ballpark of $5 million. Sources close to the company said Blackstone repeatedly met with Senate staffers before the IPO to assuage lawmakers fears about Chinese investment in the company. The economist is married to Christine Mularchuk Hearst , his starsign is Aquarius and he is now 75 years of age. They compare the current tax battle with the fight Microsoft and the technology industry had in the mid-1990s. (All the people involved declined interviews.). Mr. Schwarzman didnt endorse Mr. Trump during the campaign. In November 1995, the couple married in Manhattan and gave a party to celebrate at the Frick Museum, where Mr. Schwarzman is a longtime board member. 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. I was fascinated about how that transition occurs with someone who was not achievement-oriented, he said about President Bush to The New York Times in 2004. Rabbi Bertram Siegel co . I think this one, Mr. Schwarzman said, although it was hard not to wonder if this guess was a measure of reality or wishful thinking. Soon, Mr. and Mrs. Schwarzman began dining tte--tte with Cardinal Edward Egan, the late archbishop of New York. [37], He is a long-time friend of former president Donald Trump and provides outside counsel, and served as chair of Trump's Strategic and Policy Forum. "[21], In September 2011, Schwarzman was listed as a member of the international advisory board of the Russian Direct Investment Fund. Mr. Schwarzman succeeds James A. Johnson, who stepped down from the Chairmanship this past January. Poland? For his namesake building, see. Last Valentines Day, Schwarzman reportedly spent $3 million on a lavish birthday bash. Schwarzman has been married twice: his first marriage in 1971 was to Ellen Philips, a trustee of Northwestern University and the Mount Sinai Medical Center. Thats when I said, Bingo, Cardinal Dolan recalled. Registration Number: 2429892 : Full Name: CHRISTINE HEARST SCHWARZMAN : First Name: CHRISTINE : However, Herro has been known to support various political causes as well, which has caused some people to see, Read More 10 Things You Didnt Know about David HerroContinue, Electric, or e-bikes are one of the best weapons we have in our arsenal when it comes to battling climate change. Off went Mr. Steinbergs billiard tables. Mr. Schwarzman has been involved in all phases of Blackstone's development since its founding in 1985. In June, Schwarzman completed Blackstones $4.75 billion initial public offering, the largest so far this year. The report disclosed that Schwarzman donated $344,000 in support of Trump's re-election campaign. Mr. Schwarzman happily gave financial advice for Cardinal Egan to take back to the archdiocese. Ultimately, that desire translated into financial support for scores of U.S. track and field athletes, whose photos and notes of appreciation sit on a mantel inside Blackstone's New York headquarters. [22][23], Schwarzman is a Republican who favors lower taxes, lower government spending, and women's rights. Last presidential season, Schwarzman, along with now-Treasury Secretary Henry Paulson, served as a Bush Pioneer. [44] In 2014, Schwarzman was named as one of Bloomberg's 50 Most Influential people of the year. Last May, a familiar routine took place on the steps of the Metropolitan Museum of Art. Boards are the best place to save images and video clips. Im more than comfortable with that, said Peter Salovey, the schools president. It took a little high school in Pennsylvania to do what Yale would not, he said, chuckling. Pretty, accomplished, smart, rich and an expert man-catcher. (Mr. Schwarzman apologized, but still.). Im just thanking God for my beautiful wife and 6 kids by doing something to help everyone and help get the USA off Arab oil. 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. Partly this is because there remains a select group of people (among them, Mrs. de la Renta) who remember that Brooke Astor rescued the New York Public Library from financial ruin in the early 80s without making such demands. Christine Schwarzman and her billionaire husband, Stephen, are now in a new social set after getting to meet Pope Francis. Fast Facts about Stephen Schwarzman. For instance, Schwarzman recalls reading about a runner who injured her leg while training for the Olympics and wanting to help, since he had been a runner himself. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. She was the daughter of Peggie and Peter Mularchuk of Hicksville, New York. The current status is Currently registered. 2023 Getty Images. He led the biggest leveraged buyout in history, 8. In 2007, Mr. Schwarzman held his birthday party at the Park Avenue Armory. How much incentive does he need, given his direct ownership of the company, to get him to produce more for his limited partners? he asked. Republican presidential candidate John McCain received $11,200 from Schwarzman, the most of any individual candidate. This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. His grandfather's answer was simple: "People need help, and I believe in helping them.". Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world's leading investment firms with $951 billion Assets Under Management (as of September 30, 2022). According to the Guardian, the couple currently reside in a 20,000 square foot, two-floor Park Avenue apartment boasting 35 rooms, his-and-hers saunas, a pine-paneled library and 13 bathrooms. He grew Blackstone into the worlds biggest buyout firm, 6. There are some stocks, however, that every investor should consider holding due to sheer brute strength that isn't apt to wane anytime soon. Chairman, CEO & Co-Founder. Her first marriage was to an heir to Hearst money, and now shes hitched to Stephen Schwarzman, CEO of the Blackstone Group and head of the Kennedy Center. After completing his MBA at Harvard Business School, Schwarzman landed a position at the investment bank, Lehman Brothers. The New Yorker labeled him "the designated villain of an era on Wall Street," following the $3 million 60th birthday bash he threw for himself. Him: The billionaire CEO of private equity firm the Blackstone Group. This is partly because the gifts often come with conditions. Instead, he donated to Jeb Bush. Schwarzman, along with Henry Kravis of competitor Kohlberg Kravis Roberts, lobbied Washington to kill the bill a few months ago. After the stock market flotation of Blackstone, Schwarzman bagged a further $684 million for the sale of his shares, leaving him with a $9.1 billion stake. Stephen Schwarzman, co-founder and chief executive officer of Blackstone Group. Christine Schwarzman and her billionaire husband, Stephen, are now in a new social set after getting to meet Pope Francis. In the 1990s, she worked at Cowan, Liebowitz & Latman. The bride's father owned Electritek Industries, a former distributor of appliance parts in Hicksville. Access the best of Getty Images with our simple subscription plan. Schwarzman didnt get the job. People should just be grateful, she said. [24], He raised $100,000 for George W. Bush's political endeavors. The Fifth Avenue headquarters of the New York Public Library is now the Stephen A. Schwarzman building, thanks to a contribution of $100 million in 2008. Who cares? Stephen was born on 14 February, 1947 in Philadelphia, Pennsylvania and went on to graduate from the prestigious Yale University and the Harvard Business School. The investment cost less than 1 percent of his 2017 income. Photograph: Domenico Stinellis/AP Fashion Fashion meets Catholicism:. However, it is interesting to note that electronic noses can detect tastes, Read More What is an Electronic Nose and Do They Exist Yet?Continue, Charles Blankenship is the CEO of Arconic, a publicly traded company that specializes in solving engineering challenges within the transportation industries. Christine Hearst Schwarzman is an attorney registered with New York State, Unified Court System, Office of Court Administration, admitted in 1991. When Schwarzmans earnings were revealed in 2007, critics were quick to attack what they considered his history of financial excess. Blackstone started out as a relatively small concern, dealing primarily in mergers and acquisitions. With over 10 years experience he's covered businesses, CEOs, and investments. Legal Statement. Hear Blackstone and its unlikely youll spot the connection between the name of the multi-billion-dollar company and the name of its multi- billion-dollar owner. [51] Schwarzman simultaneously announced a fundraising campaign with a goal of $200 million. Schwarzman, an out- and- proud Republican, is a long- time friend and supporter of President Trump. 807 Christine Schwarzman Photos and Premium High Res Pictures - Getty Images CREATIVE EDITORIAL VIDEO All Sports Entertainment News Archival Browse 807 christine schwarzman stock photos and images available, or start a new search to explore more stock photos and images. Originally focused on the U.S., it went global three years later and has now garnered participants from 23 countries working to set "a new standard for generosity" among the ultra-wealthy. January 7, 2015 10:13pm Mike Bloomberg toasted Teddy Schwarzman Wednesday night at a party for the Imitation Game producer thrown by his father, Blackstone Group CEO Stephen Schwarzman and. Obama later drafted a formal message of support for Schwarzman Scholars, an education initiative undertaken by Schwarzman. Stephen A. Schwarzman, the CEO and co-founder of The Blackstone Group, has been named the new Chairman of the Board of Trustees of the Kennedy Center for the Performing Arts. Stephen is known to be greatly charitable and has made several contributions to various organizations which help support social and educational causes in the United States and throughout the world. But the subsequent negotiations around the retirement package of his mentor Mr. Peterson, then 81, were brutal. Theyre energizer bunnies. They had two children: film producer Teddy Schwarzman[66][67] and writer and podcaster Zibby Owens. The title entailed raising at least $100,000 for the 2004 campaign. Christine married Schwarzman a few years after divorcing Austin Hearst, a Hearst publishing heir. Anyone can read what you share. In 2004, he became chairman of the board of the Kennedy Center, a position he still holds today. However, this donation was contingent on several conditions, including naming rights to the school. Inside the armory, the hall was festooned in red and white in a Valentine's Day theme, with . Log in to see their photos and videos. In 1995, Schwarzman wed Christine Hearst, an attorney for intellectual property who was born and raised on Long Island, New York. He is a film producer and a corporate lawyer by profession. The program, which launched to the tune of $575 million, is modeled on the Rhodes Scholarship, and, according to Blackstone is the largest philanthropic effort in Chinas history to have come from international financiers. Buying fancy homes in fancy places doesnt help us get along with governments or other investors.. He helped fund the MIT Schwarzman College of Computing, 9. Admist the chaos, C.H.S. WEDDINGS;Christine Hearst, S. A. Schwarzman, https://www.nytimes.com/1995/11/05/style/weddings-christine-hearst-s-a-schwarzman.html. When you work with the likes of Stephen and Christine, everyone benefits., So Mr. Schwarzman may be a flash point for income inequality, a man with more money than respect, but that seldom stops him from having the last laugh, or getting the multi-million-dollar tax write-off. Powered and implemented byFactSet Digital Solutions. Jan 14, 2019 Original: Aug 3, 2006 We're oddly, endlessly and perhaps dangerously obsessed with Christine Hearst Schwarzman. The job got him a private lunch with Laura Bush in the White House residence. After the public learned about the deal, a new agreement was made and Schwarzman removed several of the conditions for his donation, including renaming the school. Among the philanthropists who have inspired him is Eli Broad, the billionaire behind KB Home, the first homebuilder traded on the New York Stock Exchange, and SunAmerica, the retirement-savings firm acquired by AIG. See Christine Hearst Schwarzman's compensation, career history, education, & memberships. Much of the cultural vitality of New York has long been due to the benevolence of such great Americans as Brooke Astor and David Rockefeller, Ms. Wintour said in a statement last week. As a subscriber, you have 10 gift articles to give each month. In 2018, he polled again, this time in the Top 50 of Forbes list of the Worlds Most Powerful People. [4], Schwarzman's first business was a lawn-mowing operation when he was 14 years old, employing his younger twin brothers, Mark and Warren, to mow while Stephen brought in clients. Grow your brand authentically by sharing brand content with the internets creators. Schwarzman was briefly chairman of President Donald Trump's Strategic and Policy Forum. He started off with a job at Donaldson, Lufkin & Jenrette, an investment bank and soon rose to the rank of Managing Director at the Lehman Brothers, aged just 31. The production house is responsible for co-producing the hit 2014 film The Imitation Game.