When you add up all the sources of income (cash/bonus, stock options and restricted shares), the compensation for Schwarzman comes to $702.4 million. Just imagine if the market was stronger.
Next, Blackstone was able to avoid the problems of the subprime implosion and as a result, has a strong balance sheet. There was no need for a TARP bailout. In fact, Blackstone has $15 billion in fresh capital to do deals.
Finally, nearly $700 million of Schwarzman's pay came from vested stock grants. Again, this is a reflection of the fact that he was the co-founder of Blackstone.
True, it is still significant wealth. But, when you take a risk on a new venture -- and an innovative business model -- you should reap the rewards.