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Blackstone grants new rewards to CEO and founder Schwarzman

Agreement knits Blackstone founder’s fortunes to the private equity firm for years to come

Blackstone grants new rewards to CEO and founder Schwarzman

Blackstone Group guaranteed chief executive Stephen Schwarzman new rewards for his contribution to the firm as a founder when he chooses to retire — and even after his death, WSJ reports.

The entitlements cement the 71-year-old billionaire’s unique status at the investment empire he helped create and tie his fortunes to the world’s largest private equity firm by assets.

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