By Rhea Binoy and Jose Joseph

(Reuters) -Blackstone Inc Chief Govt Officer Steve Schwarzman took house about $1.26 billion in pay and dividends for 2022, a regulatory submitting confirmed.

Schwarzman obtained greater than $1 billion in dividends from his Blackstone (NYSE:) shares and $253.1 million in compensation, submitting confirmed on Friday.

Goldman Sachs Group Inc (NYSE:) slashed compensation for CEO David Solomon by 29% to $25 million for 2022, whereas JPMorgan Chase & Co (NYSE:) CEO Jamie Dimon’s complete compensation was unchanged at $34.5 million.

Schwarzman, who was amongst Wall Road’s greatest contributors to Donald Trump’s 2020 re-election marketing campaign, stated in November that he won’t again Trump in 2024.

Greater rates of interest, inflation, recession worries and geopolitical tensions from the Russia-Ukraine battle have prevented personal fairness companies like Blackstone from promoting property for high greenback.

Blackstone’s internet revenue from asset gross sales fell sharply by 55% to $366.9 million through the fourth quarter, down from $817.5 million a yr earlier.

The corporate posted distributable earnings of $6.6 billion in 2022, which was up 7% year-over-year.

“In 2022, Blackstone delivered report distributable earnings, $226 billion in inflows, and realized a lot of essentially the most worthwhile fund investments in our historical past,” a Blackstone spokesperson stated in an emailed assertion to Reuters.

Schwarzman owns about 230 million shares in Blackstone in response to a submitting from February, and the corporate paid $4.40 in annual dividend, filings confirmed.

The world’s largest personal fairness agency has been coping with rising redemptions at its flagship actual property revenue belief (BREIT), prompting it to train its proper to dam investor withdrawals at 5% of the quarterly internet asset worth of the fund.

Blackstone ended the quarter with $974.7 billion of complete property below administration and declared a quarterly dividend of 91 cents per share. Blackstone had set a goal of reaching $1 trillion in property by the top of 2022, an ambition it had introduced ahead from 2026.