Stephen A. Schwarzman
The Schwarzman Scholars is a program that was designed with Tsinghua University. They asked me to do something in honor of their 100th anniversary.Collection: Anniversary
In the Catholic schools, they spend much less money than the public schools, and they get amazing results. Private schools spend much more money than the public schools, and they get remarkable results.Collection: Amazing
When you lose control of risk at a financial institution, you do a variety of unfortunate credit extensions or purchases - and all of a sudden, you've blown up your business.Collection: Business
I have a saying: There are no brave old people in finance. Because if you're brave, you mostly get destroyed in your 30s and 40s. If you make it to your 50s and 60s and you're still prospering, you have a very good sense of how to avoid problems and when to be conservative or aggressive with your investments.Collection: Finance
There are no patents in finance.Collection: Finance
Some of the people in finance touch enormous parts of the economy.Collection: Finance
For future geopolitical stability and global prosperity, we need to build a culture of greater trust and understanding between China, America and the rest of the world.Collection: Trust
Down cycles are not fun. But they form the basis for enormous future profitabilityCollection: Fun
My biggest job really is to figure other people out. I need to understand what makes a person tick.Collection: Jobs
I've lived through periods of illiquidity before. Asset prices come down. The economy slows or even goes into recession. Then the cycle re-starts. We buy at lower prices with less leverage.Collection: Economy
I don't feel like a wealthy person. Other people think of me as a wealthy person, but I don't. I feel the same as when I was a fifth-year associate trying to make partner at Lehman Brothers. I haven't changed.Collection: Brother
I love picking people. I started Blackstone, and we had no people, and now we have with our portfolio companies about 750,000 people all over the world. Everybody who is at a senior level has ultimately been picked by me.Collection: Senior
It's wonderful to learn about new cultures and to be able to travel easily to so many countries.Collection: Country
My personal taxes are 53% of my taxable income. That's 36% on the federal level and 17% for state and local.Collection: Income
If I get angry, it's obvious. I don't have to say much.Collection: Obvious
I'm concerned with China growing at double or triple the rate of the West, that there will be tensions. One needs to do something to start addressing misunderstandings and frustration.Collection: Frustration
I'm not feeling undertaxed. Tax reform is an important issue. You have to have an inherent sense of fairness.Collection: Issues