Key facts
- Stephen Schwarzman co-founded Blackstone with Peter Peterson in 1985.
- Blackstone manages over $1 trillion in assets.
- Schwarzman began his career at Lehman Brothers.
- Schwarzman started his first business at age 14.
Stephen Schwarzman, the chairman and CEO of Blackstone, has reflected on his career, which began with a lawn-mowing business at age 14 and progressed to Wall Street at Lehman Brothers before co-founding the private equity firm Blackstone with Peter Peterson in 1985. Initially a boutique merger-and-acquisition advisory business, Blackstone has since grown into the world's largest alternative asset manager, overseeing more than $1 trillion in assets under management.