Set up Blackstone with Peter G. Peterson in 1985; chaired President Trump's Strategic and Policy Forum. Forbes put his net worth at $50 billion in early 2026.
What It Takes is the definitive first-person account of how the modern alternative-asset firm was built, backed by one of the longest CEO tenures in finance.
1 book of their own · 2 biographies about them · 11 letters
Subtitled Lessons in the Pursuit of Excellence.
Recommended by: Ezra Klein
What It Takes | Subtitled Lessons in the Pursuit of Excellence. | 2019 | T3 | Ezra Klein |
Blackstone from its 1985 founding through its 2007 public offering and the crisis.
Recommended by: Mohnish Pabrai
Subtitled Lessons in the Pursuit of Excellence.
| Chairman's Letter 2021: 'The Most Consequential Year' | Stephen Schwarzman calls 2021 the most consequential year, as vaccines and fiscal support drove U.S. growth to its fastest in nearly 40 years. | 2021 | ||
| Chairman's Letter 2020: 'An Unprecedented Year' | Stephen Schwarzman reviews 2020, when the U.S. and other countries shut down voluntarily and unemployment hit its worst since World War II. | 2020 | ||
| Chairman's Letter 2019: 'A Continuing Evolution' | Stephen Schwarzman reviews 2019 as Covid-19 emerges, putting the safety of Blackstone's people and investors first. | 2019 | ||
| Chairman's Letter 2018: 'A Position of Strength' | Stephen Schwarzman reviews 2018's two markets, a rally to a September peak after tax reform and a sharp fourth-quarter reversal. | 2018 | ||
| Annual Chairman's Letter 2017 | Stephen Schwarzman calls 2017 a remarkable year for Blackstone in fundraising, assets under management, deployment and realisations. | 2017 | ||
| Annual Chairman's Letter 2016: 'Resilience, Optimism, and Innovation' | Stephen Schwarzman reflects on 2016's year of market and geopolitical surprises and Blackstone's resilience, optimism and innovation. | 2016 | ||
| Annual Chairman's Letter 2015: 'A Mission 30 Years In The Making' | Stephen Schwarzman argues Blackstone's long-term perspective, 30 years in the making, matters more amid 2015's market turbulence. | 2015 | ||
| Annual Chairman's Letter 2014: 'The Art of the Long View' | 2014 | |||
| Annual Chairman's Letter 2013: 'A Year of Innovation' | 2013 | |||
| Chairman's Letter 2010 — '25 Years of Fresh Thinking' (Blackstone 2010 Annual Report) | Blackstone's 2010 annual report marks 25 years and sets out its guiding principles: accountability, excellence, integrity, teamwork and entrepreneurship. | 2010 | ||
| Chairman's Letter 2007 — 'Dear Fellow Unitholders' (Blackstone Annual Report No. 1) | Stephen Schwarzman's first letter to Blackstone unitholders sets out the vision behind the firm after its 2007 IPO. | 2007 |
| Stephen Schwarzman’s Lifelong Audacity Paywall | The Wall Street Journal | 2019 |