Rich Pickings For Some

The New York Times annually reports on the astonishing incomes enjoyed by the capitalist class, but they are not necessarily the richest packages out there. As they report they rely on filings required by the Securities and Exchange Commission for public companies. That means they are missing entire categories of businesses: privately held corporations, most hedge funds and many private equity firms, but nevertheless some of their figures are staggering. 'Consider Leon Black, C.E.O. of Apollo Global Management, among the largest private equity firms with $2.86 billion in 2012 revenue. He took in more than $125 million last year. ........ Steve Schwarzman, founder and chief executive of the Blackstone Group, took in $8.4 million in compensation last year, and his distributions earned him an additional $204 million. ............The wealth of executives at Kohlberg Kravis Roberts was harder to determine, because it disclosed only distribution payouts on common units and not on the convertible ownership units held by top executives. But even excluding those payouts, the two co-chiefs at K.K.R., Henry R. Kravis and George R. Roberts, made more than $35 million each in compensation.' (New York Times, 10 April) RD