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Stephen Schwarzman — the Real-life Story of Blackstone Group’s Co-Founder

September 24th, 2009

Here briefly, is the enthralling story of Stephen A. Schwarzman. Forbes named Stephen the fifty-third most well-off person in the US just last year, nevertheless it’s not money that makes this tale so absorbing but his incredible success in the business and finance world and his patronage of the arts. This Blackstone Group magnate is inspiring and further proof that dedication and hard work are key to achieving success.

Stephen A. Schwarzman and his partner Peter Peterson founded the private-equity and financial advisory firm Blackstone Group in the 1980’s. Today, of course, the Blackstone Group is a household name with holdings as diverse as Universal Studios Parks and Catalent Pharma Solutions, to name but two.

Living for many of his childhood years in near Philadelphia, Pennsylvania, Stephen attended school in the Philadelphia suburbs. Then he went on to graduate from Yale University in 1969. Next, he opted to advance his education at the internationally esteemed Harvard Business School, gaining his MBA in 1972. Once he had completed his education, Stephen started his job at Lehman Brothers investment bank. Steve was appointed to the boards at the age of 31.

Stephen Schwarzman supports a wide variety of liberal arts as well as teaching as an assistant professor at the influential Yale School of Management. Moreover, he serves as the Chairman of the Board of Trustees of the John F. Kennedy Center for the Performing Arts in New York. And, to return even more to society, he told the media in Spring of 2008 that he was presenting $100 million to the New York Public Library to back their construction project. They also named one of their recently renovated buildings the “Stephen A. Schwarzman Building” to commemorate his benevolent contribution.

As you’d expect Stephen A. Schwarzman is now one of America’s elite — As one of Times Magazine’s 100 Most Influential People on earth, Stephen is these days widely followed by the papers and influencing business all over the world. His mastery of the financial sector has definitely been nothing short of miraculous, not to mention the fact that his support of the liberal arts and education has been an inspiration to the business world at large. It seems that at present, Stephen Schwarzman has it all. To sum it up, we see an individual who has taken every business opportunity that came his way, but in return he has at the same time used his riches and influence as a means to improve the lives of his countrymen.

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