Stephen Schwartzman, New York, NY
Schwartzman has $5.9 billion, every cent of it earned by others. He doesn't work; he invests. Schwartzman served as Managing Director of Lehman Brothers. Then he cofounded and became the CEO of the Blackstone Group.
The Blackstone Group is partially owned by the American International Group (AIG) and by Kissinger Associates. The Blackstone Group was Enron's principle financial advisor for its restructuring.
Schwartzman raised $100,000 for Bush, his former Yale classmate, in 2004. He is a member of the Council on Foreign Relations and serves on the JP Morgan Chase National Advisory Board.
Schwartzman gave $100 million to New York Public Library which has now named its main building after him. Frank Rich commented:
"At the centennial gala, you couldn't escape the paw print of Stephen Schwarzman, the Blackstone Group billionaire whose library gift had entitled him to blast his name on any stray expanse of marble on the 42nd Street building. Schwarzman is nothing if not a representative 21st- -century titan. His principal monument has been to himself -, namely a notorious over-the-top 60th-birthday party, exquisite in both its bad timing and bad taste, that he threw the year before the crash. (If you're shelling out a million bucks for an entertainer, is Rod Stewart the best you can do?) He is perhaps most renowned of late for comparing Obama to Hitler because the administration dared propose taxing private-equity firms' share of client profits at a rate higher than 15 percent. (He later apologized.)"
Balance the budget on his back!
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