In terms of his principles of building Blackstone, there is nothing really groundbreaking that he shares, although it is good to see how he underlines the importance of striving for something greater than one's personal enrichment and the value of loyalty. In this brief and insightful volume, Schwarzman has identified several key qualities required for excellence in any field, including a tireless sense of curiosity, a tolerance for risk, and an eye for the humble detail.” —Henry A. Kissinger, Former U.S. Secretary of State and National Security Advisor, “Stephen Schwarzman has lived the American dream: a self-made icon in his field, turned philanthropist, who has long worked with creativity and vision to deepen relationships between individuals and countries. Working in the commercial real estate industry, you can't go long without hearing about Blackstone. Mr Schwarzman has been a big supporter of … To cap it off, Stephen wanted to leave a lasting legacy by his $500 million gift to Yale for a new community center and another $500 million gift to MIT to create a new AI college as well as starting a new program at the top Chinese University to create collaboration with future leaders around the world with China similar to the Rhodes scholar. Schwarzman really seems to have an eye for talent, and holds himself responsible for being dedicated to achieving big things with a perfection-based approach. Stephen Schwarzman is the co-founder and CEO of the Blackstone Group, the largest alternative investment firm in the world and a Fortune 500 company with revenues exceeding $6.8 billion and $545 billion in assets under management. It's also intriguing to read about clusters of successful people who all meet each other along the way. So if you’re going to dedicate your life to a business, which is the only way it will ever work, you should choose one with the potential to be huge.”, “The best executives are made, not born. Great read and I found it kept me constantly wanting to read more. A true exemplar of someone who thought big, was an opportunist during the nascent days of PE, and never found a challenge he wasn't confident he could overcome. I found it witty yet informative learning about one of the most successful individual's in the private equity industry. The New York Times’ Bestseller by Blackstone CEO Stephen Schwarzman delves into what it takes to build, transform and leading thriving organisations. I agree with Tony - he is a relentless banker and never stops solving problems. Stephen Allen Schwarzman (born February 14, 1947) is an American businessman, investor and philanthropist. I already know I will come back to it endlessly times in my life and carrer, “it’s as hard to start and run a small business as it is to start a big one. It’s eye opening that someone who’s achieved such extraordinary things can have such shallow motivations (money and prestige) and still seek so much external validation. Matthew Lennox’s entire life was driven by one thing: Lennox Corporation. Afterward, it was quite literally, history. Personally felt that the book digressed from the theme in a few places, but overall a okay read. Instead of going straight to the dean and asking, which he knew would get shut down immediately, he decided to create a poll and reach out to many of the students for their opinion on this, whether they would care or this would distract them from their studies. "Blackstone CEO Stephen Schwarzman explains how a mindset he developed in his dad’s linens shop powered him through leading a Lehman coup, building a … Start by marking “What It Takes: Lessons in the Pursuit of Excellence” as Want to Read: Error rating book. SS has had an unimaginably successful career as a financier, and now political powerbroker and philanthropist. Jan 13, 2021. personal finance . Passages regularly include name drops, superlatives, and not so subtle ranking (10s, firsts, richest). I got this book from an HBS conference after Tony’s “relentless” reference to Steve in his speech. I agree with Tony - he is a relentless banker and never stops solving problems. During grad school I remember constantly hearing about the "the biggest transaction in (somewhere)" or "the worlds most (something) in real estate"... and nine times out of ten, Blackstone was at the heart of it. More recently he was talking with Chinese trade representatives when Trump was trying to negotiate with China. Though this book slows towards the end, it remains one of my favorite books to date. Blackstone CEO, chairman, and co-founder Stephen Schwarzman on Wednesday denounced Trump … Steve shares the full measure of his personal journey with us in What It Takes - part memoir, part playbook for success in any field. When the dean said no, he told him you're making a mistake and I will be successful. Should be of interest to business students and financial professionals. The firm has established leading investing businesses across asset classes, including […] In philanthropy, as in business, he is drawn to situations where his capital and energy can be applied to drive transformative solutions and change paradigms, notably in education. Steve always takes the long view and then helps move us in the direction that will pay the greatest dividends. His gifts have ranged from creating a new College of Computing at MIT for the study of artificial intelligence, to establishing a first-of-its-kind student and performing arts center at Yale, to enabling the renovation of the iconic New York Public Library, to founding the Schwarzman Scholars fellowship program at Tsinghua University in Beijing—the single largest philanthropic effort in China’s history from international donors. A cold, unfeeling dragon shifter CEO + mysterious woman on the run who perks up his dragon's interest = action, adventure, heart-wrenching romance and an HEA guaranteed to satisfy you! Just a moment while we sign you in to your Goodreads account. At times, the book reads a bit like a list of accomplishments that Schwarzman can't wait to brag about (can't blame the guy given his success, but still gets a bit tiring). Schwarzman's amount of (humble) bragging gets way too much although he clearly has a lot to brag about. Stephen eventually graduated and took a job as an investment banker at Lehman Brothers, where he did extremely well, working his way up to Managing Director of the Mergers and Acquisitions department. Bit crazy some of his stories from Lehman and his responsibilities so early in his career. He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with former chairman and CEO of Lehman Brothers and US Secretary of Commerce Peter G. Peterson. Building Blackstone into the leading global financial institution it is today didn’t come easy. The chairman, chief executive and co-founder of Blackstone arrives 15 minutes late for our meeting at the private equity giant’s London headquarters … For that reason alone, I wish I had read this book years ago. Refresh and try again. © 2021 Simon & Schuster, Inc. All rights reserved. Our imprint is committed to publishing exceptional books of all genres that captivate readers. A true exemplar of someone who thought big, was an opportunist during the nascent days of PE, and never found a challenge he wasn't confident he could overcome. This is just an exceptional book. Humble, candid, funny and real, Steve offers wisdom and the gift of much needed common sense chapter by chapter and experience by experience. The company is based in Ashland, Oregon with five in-house recording studios. Let us know what’s wrong with this preview of, Published The first few chapters about his early life and career offer the most interesting insights into Schwarzman's personality and thinking. Some of my personal learnings from Schwarzman's account of building Blackstone are: When the Founder of Blackstone writes a book about his life story, you have to read it! This book is for you! Stephen Schwarzman says people have been asking him for years how he built Blackstone Group into one of the world's most successful investment firms. He initially started out doing M&A work but soon spread out into real estate and other alternative assets. A great read!” —John Kerry, Former U.S. Secretary of State and U.S. Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s leading investment firms with $584 billion Assets Under Management (as of September 30, 2020). So he finally decided to write a book … to gain more meaningful insight into the wisdom of the advice. He then had the results posted in the school's newspaper. Steve has good advice to give, and clearly the principles that he has followed have contributed greatly to his success over his career. Great read and I found it kept me constantly wanting to read more. Steve’s book captures what made Blackstone succeed. But since it only came out a few months ago, here we are, and I guess late is better than never. Is this book any different to Principles by Ray Dalio. His business and philanthropic efforts will have long-lasting impact around the world. What It Takes tells the story of lessons he has learned at every stage of life which offers great advice for anyone from the C-suite to the classroom looking to leave their mark. Amongst the people who Schwarzman crossed paths with during his career included: Sam Zell, George W. Steve Schwarzman has a lot of interesting things to say, as an exacting and highly successful CEO of the most successful alternative asset manager in the world. Stephen applied to law school and got in at Upen but did not want to go back to Philly so he decided to go to Harvard Business School instead. Mr. Schwarzman is an active philanthropist with a history of supporting education, culture, and the arts, among other areas. Blackstone Group Inc. has hired Joe Dowling, the former chief executive of Brown University’s endowment, as co-head of its $78 billion hedge … He uses the skills learned over a lifetime in finance to design, establish, and support impactful and innovative organizations and initiatives. Buy The Blackstone Dragon Heir: Blackstone Mountain Book 1: Volume 1 1 by Montgomery, Alicia (ISBN: 9781984356383) from Amazon's Book Store. He’s the billionaire philanthropist who founded Schwarzman Scholars, this century’s version of the Rhodes Scholarship, in China. Free eBook offer available to NEW US subscribers only. Good color on some of the deals (Equity Office Properties, Hilton) but zero introspection about extreme wealth and not much on the criticisms of private equity, plus a heap of humble-bragging and name-dropping. We launched in 2015 as an imprint of Blackstone Audio, Inc., one of the largest independent audiobook publishers in the world. From Blackstone chairman, CEO, and co-founder Stephen A. Schwarzman, a long-awaited book that uses impactful episodes from Schwarzman's life to show readers how to build, transform, and lead thriving organizations. Incredible book and a must read for every finance enthusiast. Schwarzman's amount of (humble) bragging gets way too much although he clearly has a lot to brag about. They absorb information, study their own experiences, learn from their mistakes, and evolve.". "The best executives are made, not born. The story is fairly engaging, going over big moments chronologically in his rise from college to the helm of Blackstone. What It Takes: Lessons in the Pursuit of Excellence. Steve Schwarzman’s “Art of the Deal”. It is a reminder that you need to work hard and pursue your dreams. An incredible story of a man who has built himself and his company from the ground up. There are no discussion topics on this book yet. September 17th 2019 Schwarzman, who co-founded Blackstone in 1985, is still the CEO and chairman of the company. I had general knowledge of his business success (read Kings of Capital) but did not realize how much of an impact he has had in the political arena and through his charitable endeavors. That said, it was an overall enjoyabl. Main takeaways are go big (raising a small fund and investing is similar levels of work to raising a big fund), work hard, and relationships/reputation are critical. It is quite hard to grasp that Schwarzman and his colleague started out with 400k in invested capital in 1985 and are managing over 500 billion USD today. Folding handkerchiefs in his father’s linen shop, Schwarzman dreamed of a larger life, filled with purpose and adventure. 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