Plane Folly

This year, Stephen Schwarzman’s birthday was a much more modest affair than in 2007, when he cemented his position as poster child for hedge fund excess. His 60th birthday bash was said to have cost $3 million and included a performance by Rod Stewart.

Yesterday, we’re told, Blackstone Group employees were invited to a giant boardroom for a brief roast and some cake. But it wasn’t all humble pie. Huge flat-screens in the rooms displayed the birthday invitation—a map showing the many miles Schwarzman had traveled in the last year, complete with cute little pictures of private planes.

Read more…