To trim our richest down to democratic size, we need to think big.
by Sam Pizzigati, Inequality.org
How rich have America’s super rich become? The annual compensation of Steve Schwarzman, the chief exec of the private-equity colossus Blackstone Inc., offers up one telling yardstick.
In 2023, we learned earlier this year, Schwarzman’s take-home actually fell some 30 percent off what he collected the year before. But Schwarzman’s overall payday for that year, even after that tanking, still amounted to a jaw-dropping $896.7 million.
The current personal net worth of Blackstone’s CEO? The Bloomberg Billionaires Index puts that figure at a sweet $42.3 billion.
Schwarzman’s current political net worth? That remains to be seen. In the 2020 presidential election cycle, this Wall Street titan spent over $27 million on donations to his favorite office-seekers, over five times what he spent in the 2016 election cycle. Since 2020, Schwarzman’s personal fortune — what he has available to shower down on his election-day favorites — has more than doubled.
Recent Posts
This Isn’t Just Trump’s War on Iran. Both Parties Paved the Way for Disaster.
Take Action Now We must recognize Democrats share responsibility with the GOP for creating the climate that made such a war possible.By Stephen…
He is Seriously, Frighteningly, Utterly, and Completely Losing His Mind
Take Action Now We are all endangered. What happens if, in a demented rage, he hurls a nuclear bomb? Who is watching the “football” with the nuclear…
Trump Says “Enough”—But Israel Pushes on in Lebanon War Latest
Take Action Now The current 10-day ceasefire between Israel and Lebanon has already shown signs of strain. While some displaced civilians have begun…
On Tax Day, Mamdani Taxed the Rich
Take Action Now The mayor, his supporters, and public opinion convinced their previously reluctant governor to agree to a tax on the second (or…