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
DSA Is Eyeing a 2028 AOC Presidential Run
Take Action Now Members of the Democratic Socialists of America are thinking seriously about a national presidential campaign for Alexandria…
Israel Is Accelerating Plans to Annex Neighboring Lands
Take Action Now Israel’s ethnic cleansing of southern Lebanon and Gaza has reached a scale unseen since the Nakba. The history of Israel’s offensives…
The Democratic Party Still Hates the Left
Take Action Now The Democratic Party is terrified of even small liberal reforms and will not abide left leaning democrats thwarting their plans for…
Blanche says Trump isn’t trying to meddle with Alaska election results by suing over Senate race
Take Action Now A day after the lawsuit was filed on Thursday, Peltola called it “just flagrant, flagrant corruption in my opinion” and a diversion…