The hostile takeover was orchestrated in part because RJR CEO F. Ross Johnson considered talking to a rival firm about the LBO. And so began a long series of deals meant to keep the chip firmly planted on Kravis' shoulder (keeping his sense of self-importance intact appears to be even more important than his place on Forbes' list of billionaires -- at #349, he's oddly exactly 100 spots behind Schwarzman).

It seems that Kravis and Schwarzman compete constantly in an almost theatrical way, each vying to have the better art collection, the more fabulous assortment of vacation homes (Kravis' four vacation homes are in Southampton, Palm Beach, Paris and Meeker, Colorado; Schwarzman also counts the Hamptons and Palm Beach on his list of vacation spots -- forget Paris, Mr. Schwarzman?), the lovelier wife (really, I know nothing about their wives except that Mrs. Schwarzman wanted to put an offer on Donald Trump's Palm Beach mansion while construction was still in progress on her own, and Kravis has had a whoppin' three wives).

But the biggest point of contention seems to be this little IPO of Schwarzman's. When he took the Blackstone Group public this year, it either set the market price or ruined the market for future private equity IPOs, depending on your perspective. He also beat Kravis to the punch. And whether Kravis is truly mad at him for piercing the veil and making private equity a little less private, or actually because now KKR will always be second fiddle in the public markets to Blackstone, well, it's certainly the case that the two men can't stand one another.

And if you ask me, there's no better theatre than when two really rich, really powerful, really egotistical men hate each other. I believe it's your move, Mr. K?

Vote in our poll for Henry Kravis or Steve Schwarzman, and let us know in the comments why your choice has the financial edge in this match-up. Also be sure to check out our other Money Face-Offs.