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Asset Management

Blackstone Executive Compensation (FY25)

BX · Executive and director compensation, fiscal 2023 to 2025
Chief executive, fiscal 2025
◇
Stephen Schwarzman
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (10-K): February 27, 2026
1 filing cited on this page
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116 figures on this page, cited to the filing that reported them. See the citations
Blackstone does not file an annual proxy statement (DEF 14A). Its executive compensation is disclosed directly in its Form 10-K (Part III), which is the filing cited throughout this document. A Form 10-K does not carry a disclosed compensation peer group or a say-on-pay vote; those sections are absent from this document for that reason, not from a data gap.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Stephen Schwarzman: $84,027,074 → $125,641,824 (49.5% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Blackstone's chief executive and what were they paid?
Stephen Schwarzman was paid $125,641,824 in total compensation as Co-Founder, Chairman and Chief Executive Officer for fiscal 2025. Compared with the $84,027,074 reported for fiscal 2024, Schwarzman's total was 49.5% higher.
What is Blackstone's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 456.9:1, against median employee compensation of $275,000.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jonathan Gray
President and Chief Operating Officer
◇—◇———◇◇
Stephen Schwarzman
Co-Founder, Chairman and Chief Executive Officer
◇—————◇◇
Michael Chae
Vice Chairman and Chief Financial Officer
◇◇◇———◇◇
Vikrant Sawhney
Chief Administrative Officer and Global Head of Institutional Client Solutions
◇◇◇———◇◇
John Finley
Chief Legal Officer
◇◇◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stephen Schwarzman
Co-Founder, Chairman and Chief Executive Officer
◇—————◇◇
Jonathan Gray
President and Chief Operating Officer
◇—◇———◇◇
Vikrant Sawhney
Chief Administrative Officer and Global Head of Institutional Client Solutions
◇—◇———◇◇
Michael Chae
Vice Chairman and Chief Financial Officer
◇—◇———◇◇
John Finley
Chief Legal Officer
◇◇◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stephen Schwarzman
Co-Founder, Chairman and Chief Executive Officer
◇—————◇◇
Jonathan Gray
President and Chief Operating Officer
◇—◇———◇◇
Michael Chae
Vice Chairman and Chief Financial Officer
◇—◇———◇◇
Vikrant Sawhney
Chief Administrative Officer and Global Head of Institutional Client Solutions
◇—◇———◇◇
John Finley
Chief Legal Officer
◇◇◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
John G. FinleyRSU◇——◇——◇
John G. FinleyRSU◇——◇——◇
Jonathan D. GrayRSU◇——◇——◇
Jonathan D. GrayRSU◇——◇——◇
Michael S. ChaeRSU◇——◇——◇
Michael S. ChaeRSU◇——◇——◇
Vikrant SawhneyRSU◇——◇——◇
Vikrant SawhneyRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Vikrant SawhneyRSU◇◇——
Jonathan GrayRSU◇◇——
Michael ChaeRSU◇◇——
John FinleyRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William G. Parrett
◇◇————◇
Reginald J. Brown
◇◇————◇
Rochelle B. Lazarus
◇◇————◇
James W. Breyer
◇◇————◇
Ruth Porat
◇◇————◇
Michael S. Chae, John G. Finley, Vikrant Sawhney, Stephen A. Schwarzman, Joseph P. Baratta and Jonathan D. Gray served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Audit committee chair◇
Equity is delivered as Deferred restricted common stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Stephen Schwarzman (Co-Founder, Chairman and Chief Executive Officer), FY2025 total compensation $125,641,824 (base salary $350,000) [exec_comp, SEC accession 0001193125-26-082531, filed 2026-02-27]

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What this page does not include

Everything above is a fact Blackstone disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
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What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
116 figures on this page, cited to the filing that reported them.
116 cited to the filing

Documents cited

  1. 0001193125-26-082531
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Blackstone executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/BX (accessed 2026).
Short form: data: Velarion

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Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
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1 filing cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
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Asset Management rankings

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Terms on this page

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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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