Stephen Schwarzman, in a personal history article, recounts the pivotal moment when Lehman Brothers was acquired by American Express in 1984 [1]. Following this event, Schwarzman left Lehman Brothers in 1985 to establish Blackstone, marking the beginning of his entrepreneurial journey [1]. He notes that prior to founding Blackstone, he had not considered himself an entrepreneur [1].
The article does not provide specific financial figures, market reactions, or analyst opinions regarding the acquisition or the founding of Blackstone [1]. There are no forward-looking statements or commentary on the broader market implications of these events [1].
CONCLUSION
Stephen Schwarzman's departure from Lehman Brothers after its acquisition by American Express led to the founding of Blackstone. The article offers a personal reflection but does not discuss market reactions or provide financial data, resulting in minimal immediate market impact.