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Blackstone Inc Chief Executive Steve Schwarzman took home $896.7 million in pay and dividends last year, a 29% decline from his record take in 2022, according to a regulatory filing on Friday.

Schwarzman reaped over $1.26 billion in pay and dividends for 2022, including more than $1 billion in dividends from his shares of Blackstone, the world’s largest private equity firm.

For 2023, dividend payouts accounted for $777 million of Schwarzman’s total. He also received $119.8 million in compensation, down 53% from the $253.1 million he received in 2022, according to the filing.

Schwarzman owns about 231.9 million shares of Blackstone, and the company paid an annual dividend of $3.35 per share, the filing showed.

Blackstone did not immediately respond to a Reuters request for comment.

Last month, Blackstone reported a 4% rise in its fourth-quarter distributable earnings, as it cashed out on more of its assets across real estate, credit, and hedge funds.

Distributable earnings, which represent cash used to pay dividends to shareholders, rose to nearly $1.4 billion in the three months to Dec. 31, up from $1.3 billion a year earlier.

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