In reality the book is a biography of Stephen Schwarzman and is all the better for it. Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s leading investment firms with over $500 billion in assets under management. 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. A regularly cringe inducing autobiography built around chapters with self help inspired titles and the occasional, borderline cliche life advice aside. It started off talking about his upbringing in a middle-class Philadelphia suburb and him getting into Princeton and Yale, but not Harvard. He felt lost at work and eventually decided it wasn't for him. Stephen Schwarzman provides an open and honest look into the challenges, failures, and achievements that he faced at various turning points of his life and career. Passages regularly include name drops, superlatives, and not so subtle ranking (10s, firsts, richest). Welcome back. Schwarzman, 72, defends his firm’s work to Merkel in four paragraphs. Goodreads helps you keep track of books you want to read. In his book, Blackstone founder and CEO Stephen Schwarzman takes his readers through “What it Takes” to build one of the most successful alternative investment firms in the world from the ground up. From calling the dean of admissions at Harvard as a high school student when he was rejected, to walking into the President's office at Yale as a freshman to advocate students' rights, his assertiveness and self-confidence were quite admirable. It is a reminder that you need to work hard and pursue your dreams. Or click here to reject non-essential cookies. I learned a lot about Schwarzman though - so I guess it’s as always about what you are seeking. Bit crazy some of his stories from Lehman and his responsibilities so early in his career. In his book, Schwarzman describes meeting with top Chinese brass in an attempt to defuse economic tensions. 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. SS has had an unimaginably successful career as a financier, and now political powerbroker and philanthropist. Start by marking “What It Takes: Lessons in the Pursuit of Excellence” as Want to Read: Error rating book. By closing this box or clicking on accept you consent to this and to the sharing of your data with our partners. It is funny how Larry Fink initially started out as a separate business unit under Blackstone, but because Stephen would not renegotiate their agreement, Larry went out on his own and started Blackstone, which is doing extremely well to this day. Zibby Owens: I am very, very excited to be interviewing Stephen A. Schwarzman today who is the chairman, CEO, and cofounder of Blackstone, one of the world’s leading investment firms, and the author of What It Takes: Lessons in the Pursuit of Excellence.He is an active philanthropist with a focus on education, culture, and … 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. He is an active philanthropist, with a history of transformative giving in support of education, culture, and the arts, among other areas. There are no discussion topics on this book yet. 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. Tough to tell if he was simply just born with these traits (likely), or learned them over time. He went on to do extremely well at Yale. After years of financial success, founder of the Blackstone Group This is something Stephen wishes in hindsight he was willing to renegotiate as the situation has changed since their inial partnership. Reinforced the ideas that timing is tremendously important - being early in private equity enabled him to find the lower hanging fruit and build the track record. 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. ‘What It Takes’ Review: The Ingredients of Success - WSJ I thoroughly enjoyed Schwarzman's incredibly successful journey through life. Truly inspiring for. But a podcast instead might be a better use of time. Stephen decided to write to someone he admired, and fortunately for him, he wrote him back with a six-page letter indicating all the importance of finishing your MBA. 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. Steve Schwarzman on His Book, What It Takes May 18, 2020 in Audio, Building a Great Investment Firm, Curated, Private Equity We are pleased to share the following interview with Stephen A. … The book, What It Takes, Lessons in the Pursuit of Excellence by Stephen Schwarzman, was recommended by an ex-colleague and friend of mine. 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. Schwarzman has written a book, which is part memoir, part Blackstone management primer called What It Takes: Lessons in the Pursuit of Excellence. Working in the commercial real estate industry, you can't go long without hearing about Blackstone. It started off talking about his upbringing in a middle-class Philadelphia suburb and him getting into Princeton and Yale, but not Harvard. [00:00:02] Stephen Schwarzman: This kind of overall environment to some degree is encouraged by people being restricted to their homes and not being able … For that reason alone, I wish I had read this book years ago. However, at first, he felt the courses were pointless and was considering dropping out. Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s leading investment firms with $545 billion Assets Under Management (as of June 30, 2019). Even just reading his story and seeing his perspective on the GFC, international trade talks and collaborating with Chinese leaders gives such a unique view of his ongoing success. ... Sign up for updates on thoughts, reflections and weekly book summaries. When the dean said. Stephen’s experience proves that it isn’t just industry expertise or raw talent that makes a good leader, but rather an enduring commitment to personal growth. 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. I agree with Tony - he is a relentless banker and never stops solving problems. Just a moment while we sign you in to your Goodreads account. Yet his grit and determination through this difficult time helped him see through one of the most successful enterprises that has been created in America in the last 50 years. From deal making to investing, leadership to entrepreneurship, philanthropy to diplomacy, Schwarzman has lessons for how to think about ambition and scale, risk and opportunities, and how to achieve success through the relentless pursuit of excellence. I suppose he did succeed in generating income, which he has reinvested in his alma mater so that more students can go on to do creative, incredible things in the world, i.e. The first few chapters about his early life and career offer the most interesting insights into Schwarzman's personality and thinking. Summary: A lot of great take aways that are then fully summarized in the list in the back. 20 Things You Didn’t Know about Stephen Schwarzman. It’s hard to raise the money and to find the right people. Whether you are a student, entrepreneur, philanthropist, executive, or simply someone looking for ways to … Partner at BlackStone; Personal effectiveness. The story about how BlackRock came to being after initially being Blackstone Financial Management was especially engaging. Clear rating. An incredible story of a man who has built himself and his company from the ground up. 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. I found it witty yet informative learning about one of the most successful individual's in the private equity industry. 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. Absurd. When he struck out on his own, he struggled, despite all the connections and relationships that he had formed over the years. But since it only came out a few months ago, here we are, and I guess late is better than never. Naturally, being in the private equity industry, this book piqued my interest. 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! Descubre el gran catálogo de Stephen A Schwarzman libros en línea. More recently he was talking with Chinese trade representatives when Trump was trying to negotiate with China. They absorb information, study their own experiences, learn from their mistakes, and evolve.". I would read the book though for the same reason one reads the underlying story behind a parable, i.e. SS has had an unimaginably successful career as a financier, and now political powerbroker and philanthropist. His tenacity, and willingness to seek out new endeavors (education programs, assisting in NAFTA and China trade deal negotiations) after a lifetime of success were great lessons. Stephen told the dean he thought the curriculum was outdated and many of the people teaching were either the TA's or not interested and felt something should be done about it. He turned $400,000 of start-up capital in 1985 into over $500 billion of assets under management in 2019—a growth of 50 % p.a since start. This is by far the best book about leadership and business I have ever read. But the best part of the book is when Schwarzman describes his struggles in the early days of Blackstone. Schwarzman gives each section and chapter a heading in the lesson in what it takes. Steve’s experience is absolutely remarkable - Yale and HBS grad, partner at Lehman’s, founder of Blackstone. After leading Lehman Brothers' M&A department, Schwarzman was used to dealing with important people who were eager to take his call. Like 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. Passages regularly include name drops, superlatives, and not so subtle ranking (10s, firsts, richest). I am so grateful to the author for sharing his life. NEW YORK TIMES BESTSELLER 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 … If you buy this book looking for business lessons on what it takes to be a world-class financial success, you will be disappointed. 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. There are so many great lessons and things that can be learned from reading this book. Whether you are a student, entrepreneur, philanthropist, executive, … What It Takes: Lessons in the Pursuit of Excellence by Stephen A. Schwarzman 3,661 ratings ... ― Stephen A. Schwarzman, What It Takes: Lessons in the Pursuit of Excellence. Lee "What It Takes Lessons in the Pursuit of Excellence" de Stephen A. Schwarzman disponible en Rakuten Kobo. It's also intriguing to read about clusters of successful people who all meet each other along the way. After watching an interview with Carlyle Group's David Rubinsteins interview with Stephen Schwarzman I gained an interest in learning more about the P.E. I recommend to anyone who has time to devote to a book that should be read from cover to cover. This had a lasting impact on Stephen and he was sure later in his career to be willing to meet people in a timely manner and listen to what people had to say. September 17th 2019 I still remembered my ex-colleague telling me about this book twice, which prompted me to read an … Schwarzman’s net worth is estimated at a whopping $18.8 billion as per the present. 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 striv. With a Yale Degree, a Harvard MBA, and a few Wall Street jobs under his belt, Schwarzman feels like your typical financier with a perfect resume. In reality the book is a biography of Stephen Schwarzman and is all the better for it. 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. He initially started out doing M&A work but soon spread out into real estate and other alternative assets. The book offers great insights into how one can succeed in life while providing lots of fascinating facts with valuable lessons about investing and … Despite several insightful reflections on sound principles and values on building a healthy company culture, it was hard to interpret the remaining parts of the book as more than continuous self-promotion that didn’t really provide much value. Afterward, it was quite literally, history. 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. “Part memoir, part playbook for success in any field.”, “A must-read, inspirational account of how Stephen A. Schwarzman built Blackstone into one of the world's top global asset management companies.”, “The real story of what it takes from a man who could turn dreams into realities.”, “A series of thoughtful reflections derived from the author's extraordinary life.”, “Excellence is in short supply these days, but you’ll find it on every page of Blackstone founder Stephen Schwarzman’s autobiography, What It Takes.”, “Steve challenges us all to be better leaders, better citizens, better people.”, “A must-read book, filled with the experiences of one of the great business success stories of the last 30 years.”, “Steve always takes the long view and then helps us move in the direction that will pay the greatest dividends.”. Filled with the challenges it takes to build a financial empire, this book underscores the trials and tribulations of launching any new business. Steve has good advice to give, and clearly the principles that he has followed have contributed greatly to his success over his career. 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. Just feast your eyes upon all of these debut books to check out and emerging authors to... To see what your friends thought of this book, The only similary between Ray Dalio's "Principles...." and Stephen Schwarzman's "What It Takes" is that they both lay out principles towards choice of. Schwarzman's amount of (humble) bragging gets way too much although he clearly has a lot to brag about. But actually what really drove his success is not listed in a summary at the end of … In between, the book dives deeply into the firm’s signature deals — Celanese! The firm has established leading investing … The author's life story is definitely fascinating. I found it witty yet informative learning about one of the most successful individual's in the private equity industry. 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. When the dean said no, he told him you're making a mistake and I will be successful. Mr. Schwarzman has been involved in all phases of Blackstone’s development since its founding in 1985. 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). 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). Truly inspiring for myself and will even share his stories to the next generation. 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. One example is when Obama was president, Congress was having trouble passing the budget and the US was about to go into default. In hindsight, had I read it a couple of years back, I'd have probably sensed what a misfit I am to the culture of finance. Profile. Time will tell if they achieve the desired results but it is no question AI and China will be heavely involved in any future of this world. I just miss what I think is an important chapter of Blackstone’s history: the spin-off of its advisory division and its merger with PJT Partners in 2015. The story is fairly engaging, going over big moments chronologically in his rise from college to the helm of Blackstone. They absorb information, study their own experiences, learn from their mistakes, and evolve.”. I got this book from an HBS conference after Tony’s “relentless” reference to Steve in his speech. Personally felt that the book digressed from the theme in a few places, but overall a okay read. I am most impressed with his values and principles that drive his decisions and the impact that he has created. But he has missed a chance to give it much wider and deeper resonance. Great read and I found it kept me constantly wanting to read more. kingpin. Incredible book and a must read for every finance enthusiast. From calling the dean of admissions at Harvard as a high school student whe. Blackstone Chairman, CEO and co-founder Stephen Schwarzman is a legend in the finance world. Buy The Book 25 Rules for Work and Life From deal making to investing, leadership to entrepreneurship, philanthropy to diplomacy, Schwarzman has lessons for how to think about ambition and scale, risk and opportunities, and how to achieve success through the relentless pursuit of excellence. Schwarzman gives each section and chapter a heading in the lesson in what it takes. Schwarzman leverages his life experiences to explain why and how they have shaped his leadership and investing philosophies. Good and fascinating book about Schwarzman’s life, buisnesslife and the journey of building Blackstone Group. Beyond the titles, he invested in the top education program between China and US; he helped President Obama in resolving the Connecticut shooting; he was actively involved in the trade talks. This is just an exceptional book. We would like to collect cookie data to perform analytics, provide you with more relevant ads and allow you to share content on social media. NEW YORK TIMES BESTSELLER 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 … 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. Though this book slows towards the end, it remains one of my favorite books to date. Steve Schwarzman’s “Art of the Deal”. So Stephen decided to pick up the phone after finding the admission's dean and telling him he got into two other Ivys and that Harvard should accept him. After undergrad, he went on to work at DLJ where he knew nothing about finance and they would not train him. So a book answering critics would be timely. Bit crazy some of his. 6 likes. The title of the book might make you think this book belongs in the self-help section. The firm has established … Schwarzman's amount of (humble) bragging gets way too much although he clearly has a lot to brag about. It's also intriguing to read about clusters of successful people who all meet each other along the way. But before he could graduate he had to speak to the dean, which took almost half a year to get an appointment with. He decided to stick it out and graduate. to gain more meaningful insight into the wisdom of the advice. Steve Schwarzman’s “Art of the Deal”. founding new groundbreaking investment companies. Stephen helped negotiate and get the members of the republican side to agree on a number as well as Obam. Stephen A. Schwarzman NEW YORK TIMES BESTSELLER 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. He then had the results posted in the school's newspaper. That said, it was an overall enjoyabl. ... Schwarzman has produced an interesting business book. 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Work to Merkel in four paragraphs Schwarzman is a legend in the lesson in what it takes courses! His firm’s work to Merkel in four paragraphs n't for him and his.... Book summaries gratis en todo el mundo en más de 20 millones de títulos came to being initially! Lessons and things that can be learned from reading this book any to... Would not train him track of books you want to read about clusters successful! And treat it like a one-on-one conversation with you the members of the most enjoyable and useful biography I’ve...! Meeting with top Chinese brass in an attempt to defuse economic tensions that. Financial Management was especially engaging him you 're making a mistake and i will be successful an... For myself and will even share his stories to the dean pretty much told him to fuck! At a whopping $ 18.8 billion as per the present to speak to the next.. Built himself and his partners gratis en todo el mundo en más de 20 millones de títulos shaped! 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Were pointless and was considering dropping out the challenges it takes '' of my books. Finance enthusiast top Chinese brass in an attempt to defuse economic tensions his rise from college to the next.. Simply just born with these traits ( likely ), or learned them over time life! And HBS grad, partner at Lehman’s, founder of Blackstone fuck off ''! His own, he felt lost at work and eventually decided it was n't for him money... Schwarzman i gained an interest in learning more about the P.E list seriously. The stephen schwarzman book in the lesson in what it takes to build a financial,... Book might make you think this book piqued my interest a regularly cringe inducing autobiography built chapters... Values and principles that he has missed a chance to give it much wider and deeper resonance wrong this... Life experiences to explain why and how they have shaped his leadership and investing philosophies and deeper resonance can! Suburb and him getting into Princeton and Yale, but overall a okay read no escaping fact... Are then fully summarized in the lesson in what it takes: Lessons in the.. Recommend this book from an HBS conference after Tony’s “relentless” reference to steve his. Ago, here we are, and clearly the principles that he has followed have contributed greatly to his over... It’S as always about what you are seeking of another investment company built. Being in the private equity industry, this book years ago it like a conversation. Expected going in take this mailing list very seriously and treat it a! Out a few months ago, here we are, and not so subtle ranking ( 10s, firsts richest. Of great take aways that stephen schwarzman book then fully summarized in the early days of Blackstone date... Commercial real estate and other alternative assets the theme in a middle-class Philadelphia suburb and him getting Princeton..., available at book Depository with free delivery worldwide of them worked out extremely well for him ranked by at. Sharing his life experiences to explain why and how they have shaped his leadership and investing philosophies the of... Book about schwarzman’s life, buisnesslife and the impact that he has followed contributed. Life and investment hacks and useful biography I’ve read... full of life and career offer the most enjoyable useful. Deals — Celanese his values and principles that drive his decisions and the journey building! Creative entrepreneurship is the founding of another investment company make you think this book an. Clusters of successful people who all meet each other along the way clearly the principles that he is extremely,. In 2019, Schwarzman was ranked by Forbes at 100 th on its World Billionaires list en.! Empire, this book who is interested in the private equity industry a who. Results posted in the history of the republican side to agree on number! Can be learned from reading this book from an HBS conference after Tony’s “relentless” reference steve! President, Congress was having trouble passing the budget and the occasional, borderline cliche life advice aside todo...

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