Sample
  • King of Capital

  • The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone
  • By: John E. Morris, David Carey
  • Narrated by: George K. Wilson
  • Length: 14 hrs and 42 mins
  • 4.3 out of 5 stars (597 ratings)

Access a growing selection of included Audible Originals, audiobooks, and podcasts.
You will get an email reminder before your trial ends.
Audible Plus auto-renews for $7.95/mo after 30 days. Upgrade or cancel anytime.
King of Capital  By  cover art

King of Capital

By: John E. Morris, David Carey
Narrated by: George K. Wilson
Try for $0.00

$7.95 a month after 30 days. Cancel anytime.

Buy for $17.62

Buy for $17.62

Pay using card ending in
By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.
activate_primeday_promo_in_buybox_DT

Publisher's summary

The financial establishment---banks and investment bankers, such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, and Morgan Stanley---were the cowboys, recklessly assuming risks, leveraging up to astronomical levels, and driving the economy to the brink of disaster. In King of Capital, David Carey and John E. Morris show how Blackstone (and other private equity firms) transformed themselves from gamblers, hostile-takeover artists, and "barbarians at the gate" into disciplined, risk-conscious investors. This is the greatest untold success story on Wall Street. Not only have Blackstone and a small coterie of competitors wrested control of corporations around the globe, but they have emerged as a major force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. And since it is sitting on billions of dollars that can be invested at a time when the market is starved for capital, Blackstone is now ready to break out once again.

Insightful and hard-hitting, King of Capital is filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Steve Schwarzman and Peter Peterson. A great human interest story, as well, it tells how Blackstone went from two guys and a secretary to being one of Wall Street's most powerful institutions---far outgrowing its much older rival KKR---and how Schwarzman, with a pay packet one year of $398 million and $684 million from the Blackstone IPO, came to epitomize the spectacular new financial fortunes amassed in the 2000s.

©2010 David Carey and John E. Morris (P)2010 Tantor

Critic reviews

"[ King of Capital] ranks as one of the most even-handed treatments of the industry." ( Bloomberg Brief: Merger)