BUSINESS BRIEFING / COMPENSATION

Blackstone Group Chief Executive Stephen Schwarzman’s $702-million compensation made him the highest-paid executive in the U.S. last year, the Corporate Library reported.

The package for Schwarzman included $2.3 million of compensation and almost $699.8 million from the vesting of one-quarter of the equity granted as he took the firm public at $31 a share in 2007, said Corporate Library.

Schwarzman, Blackstone’s founder, was granted $4.7 billion in equity at the time of the offering, said Corporate Library, which specializes in governance issues.