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Feb

14

A Billionaire’s Party Is a Lens on Wealth in the Trump Era

By Tony Seruga

Fireworks exploded over Palm Beach, Fla., on Saturday as part of a birthday party for Stephen A. Schwarzman, co-founder of the Blackstone Group and chairman of President Trump’s strategic policy forum. CreditAmanda L. Gordon/Bloomberg

So, Stephen A. Schwarzman had another birthday party.

The celebration for his 70th birthday at his Palm Beach, Fla., home over the weekend included live camels, trapeze artists and a performance by Gwen Stefani. Some reports speculated the party cost as much as $20 million, a price tag that insiders say is ridiculously inflated, but clearly the event fell in the category of over-the-top expensive.

Normally, a birthday party for a boldface name wouldn’t warrant a sentence outside the gossip pages. But Mr. Schwarzman is the billionaire co-founder of the Blackstone Group as well as President Trump’s latest BFF as the chairman of the president’s strategic policy forum — and his last birthday bash turned into a cultural flash point…

A Billionaire’s Party Is a Lens on Wealth in the Trump Era

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