It never ceases to amaze me how much people are willing to practice the art of greed, particularly in the corporate world. Blackstone, one of the biggest player in the private equity world, is going public. The take for the top dogs, according to The Wall Street Journal:

The founders of private-equity firm Blackstone Group will reap billions from its initial public offering of stock, with Steve Schwarzman getting stock valued at roughly $7.5 billion and Peter Peterson taking home nearly $2 billion in cash for his stake.

And…

The 60-year-old Mr. Schwarzman, the co-founder of Blackstone and its current chairman and chief executive officer, will own 23% of the company — a stake likely valued at more than $7.5 billion — and walk away with about $677 million in cash proceeds from the IPO. Meanwhile, Mr. Schwarzman’s 81-year-old co-founder, Mr. Peterson, will sell $1.88 billion of his stake in the firm, leaving him with 4% of Blackstone, valued at roughly $1.3 billion. Mr. Schwarzman’s designated successor and Blackstone’s current president, Tony James, age 56, will get $189 million, and his 4.8% stake will be valued at $1.6 billion.

Blackstone directors and executive officers in total will have almost 70% of the firm after the listing. In addition, the filing noted that Mr. Schwarzman received $398 million in cash distributions last year, while Mr. Peterson collected $213 million as his share of the gain on investments.

    Half the world–two billion people–live on two dollars a day. And two people pocket billions. Where is the outrage?