The was below the roughly $786 million Schwarzman, 72, took home in 2017. His net worth is pegged by Forbes at $13.2 billion.
The private equity veteran received $69.1 million in compensation from Blackstone in 2018, largely due to investment gains.
Blackstone no longer discloses the dividend payment to the class of stock Schwarzman owns, but based on the $2.15 per common unit payout, he received almost $500 million in dividends. The dividend for Schwarzman's class of stock has historically been higher than for common units.
Schwarzman last year elevated Jonathan Gray, 49, who turned Blackstone into the world's biggest real estate investor, to president and chief operating officer, setting him up as his successor as CEO.
In 2018, Gray received total compensation of $87.8 million. His bonus was $10 million, down from $25.8 million a year earlier. This is due to Gray opting to receive $30 million in stock which will vest over the course of 5-and-a-half years.
Schwarzman earned much more than other co-founders of private equity firms. Apollo Global Management LP CEO Leon Black received $252,617 in compensation and $169.7 million from dividends in 2018.
Carlyle Group LP's three co-founders, David Rubenstein, William Conway and Daniel D'Aniello, combined took home roughly $180 million, with the vast majority of earnings from dividend payments.
KKR & Co LP co-founders Henry Kravis and George Roberts received $99.5 million and $103.9 million, respectively. This was more evenly distributed between compensation and dividends.
(Reporting by Joshua Franklin in New York)
By Joshua Franklin
