Key facts
- Stephen Schwarzman played a key role in diplomacy between Chinese President Xi Jinping and former U.S. leader Donald Trump.
- Schwarzman is co-founder and CEO of Blackstone.
- Blackstone manages over $1 trillion in assets.
- Schwarzman's memoir discusses mistakes by management at Lehman Brothers.
Stephen Schwarzman, co-founder and CEO of Blackstone, has played a significant role in diplomacy between Chinese President Xi Jinping and former U.S. leader Donald Trump, according to his personal history published on October 28, 2026. Schwarzman, who started his first business at age 14, co-founded Blackstone with Peter Peterson in 1985. The firm has since grown into the world's largest alternative asset manager, overseeing more than $1 trillion in assets. Schwarzman's memoir also touches on his early career experiences and perceived mistakes by management at Lehman Brothers.