Newport Billionaire Schwarzman — Just Laid Off 200 in RI UPDATED
GoLocalProv News Team
Newport Billionaire Schwarzman — Just Laid Off 200 in RI UPDATED
GoLocal reported exclusively today that the fundraiser was being scheduled to be held at Schwarzman's Newport mansion. That event is not happening according to a spokesperson for Schwarzman. He said no event was being planned.
Schwarzman’s firm owns Ennovi Advanced Mobility Solutions Rhode Island Inc., which announced just a few weeks ago the closure of its East Providence facility and the layoff of 205 employees.
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But this last year was a rough one for him.
Bloomberg reported in February, “Blackstone Inc. Chief Executive Officer Steve Schwarzman took home $896.7 million last year, a 30% drop from a year earlier, yet still one of the biggest annual payouts on record in high finance. Schwarzman’s shareholdings and the dividends still cement him as one of the world’s richest people. His fortune is tied to the firm he co-founded. He has a net worth of $41.8 billion, according to the Bloomberg Billionaires Index.”
Schwarzman announced in May that he is supporting Trump in the 2024 election. Schwarzman, the billionaire co-founder and chair of the world’s largest private equity firm and a megadonor to Republicans, said in a statement that the “dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency.”
Meanwhile in Rhode Island
More than 200 Rhode Islanders who work in East Providence for a company owned by Blackstone are being laid off, and they are all non-union.
The WARN (Worker Adjustment and Retraining Notification) letter required by federal law from the company was issued on July 26, and the factory will be shuttering at the end of the year or a short-time after that date.
EDITOR'S NOTE: This story was updated at 1 PM and 4:29 PM.