Stephen A. Schwarzman Quotes
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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.
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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.
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Down cycles are not fun. But they form the basis for enormous future profitability
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My biggest job really is to figure other people out. I need to understand what makes a person tick.
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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.
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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.
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My personal taxes are 53% of my taxable income. That's 36% on the federal level and 17% for state and local.
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I'm not feeling undertaxed. Tax reform is an important issue. You have to have an inherent sense of fairness.
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It's wonderful to learn about new cultures and to be able to travel easily to so many countries.
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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.
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If I get angry, it's obvious. I don't have to say much.