Blackstone (BX) 10-Q4 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2023	Jul. 28, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Trading Symbol	BX
Entity Registrant Name	Blackstone Inc.
Entity Central Index Key	0001393818
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Transition Report	false
Document Quarterly Report	true
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-33551
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8875684
Entity Address, Address Line One	345 Park Avenue
Local Phone Number	583-5000
Entity Address, State or Province	NY
Entity Address, City or Town	New York
City Area Code	212
Entity Address, Postal Zip Code	10154
Entity Common Stock, Shares Outstanding		709,749,707

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and Cash Equivalents	$ 3,280,204	$ 4,252,003
Cash Held by Blackstone Funds and Other	215,444	241,712
Investments	27,048,621	27,553,251
Accounts Receivable	664,028	462,904
Due from Affiliates	$ 4,294,437	$ 4,146,707
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Intangible Assets, Net	$ 219,221	$ 217,287
Goodwill	1,890,202	1,890,202
Other Assets	905,454	800,458
Right-of-Use Assets	888,190	896,981
Deferred Tax Assets	2,176,983	2,062,722
Total Assets	41,582,784	42,524,227
Liabilities and Equity
Loans Payable	12,299,855	12,349,584
Due to Affiliates	$ 2,092,837	$ 2,118,481
Other Liability, Related and Nonrelated Party Status [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Accrued Compensation and Benefits	$ 5,685,879	$ 6,101,801
Securities Sold, Not Yet Purchased	3,821	3,825
Repurchase Agreements	18,262	89,944
Operating Lease Liabilities	1,013,813	1,021,454
Accounts Payable, Accrued Expenses and Other Liabilities	1,377,838	1,158,071
Total Liabilities	22,492,305	22,843,160
Commitments and Contingencies
Redeemable Non-Controlling Interests in Consolidated Entities	1,626,349	1,715,006
Stockholders' Equity of Blackstone Inc.
Common Stock, $0.00001 par value, 90 billion shares authorized, (713,551,859 shares issued and outstanding as of June 30, 2023; 710,276,923 shares issued and outstanding as of December 31, 2022)	7	7
Additional Paid-in-Capital	6,076,367	5,935,273
Retained Earnings	1,160,278	1,748,106
Accumulated Other Comprehensive Loss	(17,205)	(27,475)
Total Stockholders' Equity of Blackstone Inc.	7,219,447	7,655,911
Non-Controlling Interests in Consolidated Entities	5,174,961	5,056,480
Non-Controlling Interests in Blackstone Holdings	5,069,722	5,253,670
Total Equity	17,464,130	17,966,061
Total Liabilities and Equity	41,582,784	42,524,227
Series I Preferred Stock [Member]
Stockholders' Equity of Blackstone Inc.
Preferred Stock, Value, Issued	0	0
Series II Preferred Stock [Member]
Stockholders' Equity of Blackstone Inc.
Preferred Stock, Value, Issued	$ 0	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets	$ 41,582,784	$ 42,524,227
Liabilities	$ 22,492,305	$ 22,843,160
Common stock par value	$ 0.00001	$ 0.00001
Common shares authorized	90,000,000,000	90,000,000,000
Common shares issued	713,551,859	710,276,923
Common shares outstanding	713,551,859	710,276,923
Series I Preferred Stock
Preferred shares par value	$ 0.00001	$ 0.00001
Preferred shares authorized	999,999,000	999,999,000
Preferred shares issued	1	1
Preferred shares outstanding	1	1
Series II Preferred Stock
Preferred shares par value	$ 0.00001	$ 0.00001
Preferred shares authorized	1,000	1,000
Preferred shares issued	1	1
Preferred shares outstanding	1	1
Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Assets	$ 5,727,444	$ 5,442,788
Liabilities	1,953,376	1,558,203
Consolidated Blackstone Funds \| Loans Payable \| Variable Interest Entity, Primary Beneficiary
Liabilities	1,714,234	1,450,000
Investments \| Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Assets	5,490,773	5,136,542
Accounts Receivable \| Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Assets	10,938	55,223
Cash Held by Funds and Other \| Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Assets	215,444	241,712
Due from Affiliates \| Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Assets	9,508	7,152
Other Assets \| Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Assets	781	2,159
Due to Affiliates \| Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Liabilities	106,433	82,345
Accounts Payable, Accrued Expenses and Other Liabilities \| Consolidated Blackstone Funds \| Variable Interest Entity, Primary Beneficiary
Liabilities	$ 132,709	$ 25,858

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Performance Allocations
Realized	$ 502,084	$ 2,453,769	$ 1,148,978	$ 4,220,155
Unrealized	114,395	(3,467,668)	(644,817)	(2,174,618)
Principal Investments
Realized	54,835	265,161	162,893	550,265
Unrealized	164,089	(500,490)	(327,328)	(426,529)
Total Investment Income (Loss)	835,403	(1,249,228)	339,726	2,169,273
Interest and Dividend Revenue	148,505	62,075	238,990	116,560
Other	(31,664)	155,588	(45,818)	228,457
Total Revenues	2,814,691	629,220	4,196,536	5,755,500
Expenses
Compensation	737,017	686,012	1,453,302	1,342,517
Incentive Fee Compensation	64,227	45,363	127,508	86,382
Performance Allocations Compensation
Realized	205,196	1,035,916	501,990	1,753,517
Unrealized	54,155	(1,386,543)	(259,094)	(914,259)
Total Compensation and Benefits	1,060,595	380,748	1,823,706	2,268,157
General, Administrative and Other	275,034	289,288	548,428	529,962
Interest Expense	108,096	69,642	212,537	136,389
Fund Expenses	31,585	4,435	79,984	6,627
Total Expenses	1,475,310	744,113	2,664,655	2,941,135
Other Income (Loss)
Change in Tax Receivable Agreement Liability	7,095	(13)	1,887	748
Net Gains (Losses) from Fund Investment Activities	80,500	(104,326)	151,564	(53,450)
Total Other Income (Loss)	87,595	(104,339)	153,451	(52,702)
Income (Loss) Before Provision for Taxes	1,426,976	(219,232)	1,685,332	2,761,663
Provision for Taxes	223,269	36,514	270,944	519,795
Net Income (Loss)	1,203,707	(255,746)	1,414,388	2,241,868
Net Income Attributable to Redeemable Non-Controlling Interests in Consolidated Entities	17,688	25,875	10,988	30,927
Net Income (Loss) Attributable to Non-Controlling Interests in Consolidated Entities	89,436	(216,707)	164,305	(332)
Net Income (Loss) Attributable to Non-Controlling Interests in Blackstone Holdings	495,309	(35,521)	552,009	1,023,792
Net Income (Loss) Attributable to Blackstone Inc.	$ 601,274	$ (29,393)	$ 687,086	$ 1,187,481
Net Income (Loss) Per Share of Common Stock
Basic	$ 0.79	$ (0.04)	$ 0.91	$ 1.61
Diluted	$ 0.79	$ (0.04)	$ 0.91	$ 1.61
Weighted-Average Shares of Common Stock Outstanding
Basic	758,479,943	707,382,293	752,306,729	738,752,489
Diluted	758,548,248	707,382,293	752,630,385	739,140,862
Management and Advisory Fees, Net
Revenues
Revenues	$ 1,709,370	$ 1,561,187	$ 3,367,685	$ 3,037,123
Incentive Fees
Revenues
Revenues	$ 153,077	$ 99,598	$ 295,953	$ 204,087

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Income (Loss)	$ 1,203,707	$ (255,746)	$ 1,414,388	$ 2,241,868
Other Comprehensive Income (Loss), Currency Translation Adjustment	16,892	(60,067)	46,292	(69,466)
Comprehensive Income (Loss)	1,220,599	(315,813)	1,460,680	2,172,402
Comprehensive Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities	30,519	(6,855)	44,529	(1,803)
Comprehensive Income (Loss) Attributable to Non-Controlling Interests in Consolidated Entities	89,436	(216,707)	164,305	(332)
Comprehensive Income (Loss) Attributable to Non-Controlling Interests in Blackstone Holdings	494,242	(46,387)	554,490	1,009,655
Comprehensive Income (Loss) Attributable to Non-Controlling Interests	614,197	(269,949)	763,324	1,007,520
Comprehensive Income (Loss) Attributable to Blackstone Inc.	$ 606,402	$ (45,864)	$ 697,356	$ 1,164,882

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands		Total	Common Stock	[1]	Common Units	Additional Paid-in Capital	[1]	Retained Earnings (Deficit)	[1]	Accumulated Other Comprehensive Income (Loss)	[1]	Parent	[1]	Noncontrolling Interest Consolidated Entities	Noncontrolling Interest Blackstone Holdings
Beginning Balance at Dec. 31, 2021		$ 21,638,018	$ 7			$ 5,794,727		$ 3,647,785		$ (19,626)		$ 9,422,893		$ 5,600,653	$ 6,614,472
Beginning Balance, Units at Dec. 31, 2021	[1]				704,339,774
Net Income (Loss)		2,210,941						1,187,481				1,187,481		(332)	1,023,792
Currency Translation Adjustment		(36,736)								(22,599)		(22,599)			(14,137)
Capital Contributions		457,729												452,766	4,963
Capital Distributions		(4,389,773)						(2,032,166)				(2,032,166)		(763,099)	(1,594,508)
Transfer of Non-Controlling Interests in Consolidated Entities		(8,744)												(8,744)
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		7,529				7,529						7,529
Equity-Based Compensation		414,342				249,255						249,255			165,087
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(39,373)				(39,373)						(39,373)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				2,265,039
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(195,326)				(195,326)						(195,326)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(1,850,000)
Change in Blackstone Inc.'s Ownership Interest		(28,766)				28,766						28,766			(28,766)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						24,707						24,707			(24,707)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				1,722,064
Ending Balance at Jun. 30, 2022		20,058,607	7			5,870,285		2,803,100		(42,225)		8,631,167		5,281,244	6,146,196
Ending Balance, Units at Jun. 30, 2022	[1]				706,476,877
Beginning Balance at Dec. 31, 2021		68,028
Transfer In Due to Consolidation of Fund Entities		1,146,410
Net Income (Loss)		30,927
Currency Translation Adjustment		(32,730)
Capital Contributions		105,467
Capital Distributions		(42,611)
Ending Balance at Jun. 30, 2022		1,275,491
Beginning Balance at Mar. 31, 2022		22,199,597	7			5,879,796		3,805,918		(25,754)		9,659,967		5,747,698	6,791,932
Beginning Balance, Units at Mar. 31, 2022	[1]				707,180,830
Net Income (Loss)		(281,621)						(29,393)				(29,393)		(216,707)	(35,521)
Currency Translation Adjustment		(27,337)								(16,471)		(16,471)			(10,866)
Capital Contributions		262,905												260,428	2,477
Capital Distributions		(2,176,397)						(973,425)				(973,425)		(510,253)	(692,719)
Transfer of Non-Controlling Interests in Consolidated Entities		78												78
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		4,257				4,257						4,257
Equity-Based Compensation		279,763				168,354						168,354			111,409
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(7,312)				(7,312)						(7,312)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				372,867
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(195,326)				(195,326)						(195,326)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(1,850,000)
Change in Blackstone Inc.'s Ownership Interest						9,247						9,247			(9,247)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						11,269						11,269			(11,269)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				773,180
Ending Balance at Jun. 30, 2022		20,058,607	7			5,870,285		2,803,100		(42,225)		8,631,167		5,281,244	6,146,196
Ending Balance, Units at Jun. 30, 2022	[1]				706,476,877
Beginning Balance at Mar. 31, 2022		41,430
Transfer In Due to Consolidation of Fund Entities		1,146,410
Net Income (Loss)		25,875
Currency Translation Adjustment		(32,730)
Capital Contributions		105,467
Capital Distributions		(10,961)
Ending Balance at Jun. 30, 2022		1,275,491
Beginning Balance at Dec. 31, 2022		17,966,061	7			5,935,273		1,748,106		(27,475)		7,655,911		5,056,480	5,253,670
Beginning Balance, Units at Dec. 31, 2022	[1]				710,276,923
Net Income (Loss)		1,403,400						687,086				687,086		164,305	552,009
Currency Translation Adjustment		12,751								10,270		10,270			2,481
Capital Contributions		312,162												307,303	4,859
Capital Distributions		(2,545,272)						(1,274,914)				(1,274,914)		(350,332)	(920,026)
Transfer of Non-Controlling Interests in Consolidated Entities		(2,795)												(2,795)
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		3,919				3,919						3,919
Equity-Based Compensation		513,136				310,772						310,772			202,364
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(23,101)				(23,101)						(23,101)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				2,673,204
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(176,131)				(176,131)						(176,131)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(2,000,000)
Change in Blackstone Inc.'s Ownership Interest		3,009				(3,009)						(3,009)			3,009
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						28,644						28,644			(28,644)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				2,601,732
Ending Balance at Jun. 30, 2023		17,464,130	7			6,076,367		1,160,278		(17,205)		7,219,447		5,174,961	5,069,722
Ending Balance, Units at Jun. 30, 2023	[1]				713,551,859
Beginning Balance at Dec. 31, 2022		1,715,006
Transfer Out Due to Deconsolidation of Fund Entities		(53,713)
Net Income (Loss)		10,988
Currency Translation Adjustment		33,541
Capital Contributions		92,280
Capital Distributions		(171,753)
Ending Balance at Jun. 30, 2023		1,626,349
Beginning Balance at Mar. 31, 2023		17,069,128	7			5,957,054		1,156,109		(22,333)		7,090,837		5,058,090	4,920,201
Beginning Balance, Units at Mar. 31, 2023	[1]				712,794,968
Net Income (Loss)		1,186,019						601,274				601,274		89,436	495,309
Currency Translation Adjustment		4,061								5,128		5,128			(1,067)
Capital Contributions		185,763												183,351	2,412
Capital Distributions		(1,210,619)						(597,105)				(597,105)		(155,466)	(458,048)
Transfer of Non-Controlling Interests in Consolidated Entities		(450)												(450)
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		1,918				1,918						1,918
Equity-Based Compensation		319,441				193,545						193,545			125,896
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(5,097)				(5,097)						(5,097)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				529,948
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(86,034)				(86,034)						(86,034)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(1,000,000)
Change in Blackstone Inc.'s Ownership Interest						1,918						1,918			(1,918)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						13,063						13,063			(13,063)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				1,226,943
Ending Balance at Jun. 30, 2023		17,464,130	$ 7			$ 6,076,367		$ 1,160,278		$ (17,205)		$ 7,219,447		$ 5,174,961	$ 5,069,722
Ending Balance, Units at Jun. 30, 2023	[1]				713,551,859
Beginning Balance at Mar. 31, 2023		1,644,697
Net Income (Loss)		17,688
Currency Translation Adjustment		12,831
Capital Contributions		41,188
Capital Distributions		(90,055)
Ending Balance at Jun. 30, 2023		$ 1,626,349

[1]During the period presented, Blackstone also had one share outstanding of each of Series I and Series II preferred stock, with par value of each less than one cent.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Equity (Parenthetical)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Series I Preferred Stock [Member]
Conversion Of Stocks	one share outstanding	one share outstanding	one share outstanding	one share outstanding
Series II Preferred Stock [Member]
Conversion Of Stocks	one share outstanding	one share outstanding	one share outstanding	one share outstanding

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating Activities
Net Income	$ 1,414,388	$ 2,241,868
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Net Realized Gains on Investments	(1,495,744)	(4,983,098)
Changes in Unrealized Losses on Investments	286,350	612,064
Non-Cash Performance Allocations	644,827	2,174,618
Non-Cash Performance Allocations and Incentive Fee Compensation	370,185	923,083
Equity-Based Compensation Expense	537,781	429,868
Amortization of Intangibles	22,062	37,396
Other Non-Cash Amounts Included in Net Income	(429,942)	(517,979)
Cash Flows Due to Changes in Operating Assets and Liabilities
Cash Acquired with Consolidation of Fund Entities	0	31,791
Cash Relinquished with Deconsolidation of Fund Entities	(113,588)	0
Accounts Receivable	(317,147)	(118,151)
Due from Affiliates	68,804	844,394
Other Assets	(21,998)	(83,592)
Accrued Compensation and Benefits	(544,006)	(1,532,679)
Securities Sold, Not Yet Purchased	(2)	28
Accounts Payable, Accrued Expenses and Other Liabilities	10,564	(14,460)
Repurchase Agreements	(71,681)	94,549
Due to Affiliates	(17,375)	75,291
Investments Purchased	(1,598,446)	(2,361,680)
Cash Proceeds from Sale of Investments	3,333,272	6,784,881
Net Cash Provided by Operating Activities	2,078,304	4,638,192
Investing Activities
Purchase of Furniture, Equipment and Leasehold Improvements	(130,236)	(101,396)
Net Cash Paid for Acquisitions, Net of Cash Acquired	(5,420)	0
Net Cash Used in Investing Activities	(135,656)	(101,396)
Financing Activities
Distributions to Non-Controlling Interest Holders in Consolidated Entities	(449,225)	(805,688)
Contributions from Non-Controlling Interest Holders in Consolidated Entities	391,813	544,204
Payments Under Tax Receivable Agreement	(64,634)	(46,880)
Net Settlement of Vested Common Stock and Repurchase of Common Stock and Blackstone Holdings Partnership Units	(199,232)	(234,699)
Proceeds from Loans Payable	0	2,006,150
Repayment and Repurchase of Loans Payable	(429,698)	(250,101)
Dividends/Distributions to Stockholders and Unitholders	(2,190,081)	(3,621,712)
Net Cash Used in Financing Activities	(2,941,057)	(2,408,726)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other	342	(15,146)
Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other
Net Increase (Decrease)	(998,067)	2,112,924
Beginning of Period	4,493,715	2,199,732
End of Period	3,495,648	4,312,656
Supplemental Disclosure of Cash Flows Information
Payments for Interest	216,813	123,915
Payments for Income Taxes	330,654	499,136
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Non-Cash Contributions from Non-Controlling Interest Holders	11,241	10,276
Non-Cash Distributions to Non-Controlling Interest Holders	(72,861)	0
Notes Issuance Costs	0	18,423
Transfer of Interests to Non-Controlling Interest Holders	(2,795)	(8,744)
Change in Blackstone Inc.'s Ownership Interest	(3,009)	28,766
Net Settlement of Vested Common Stock	267,519	199,977
Conversion of Blackstone Holdings Units to Common Stock	28,644	24,707
Acquisition of Ownership Interests from Non-Controlling Interest Holders
Deferred Tax Asset	(58,780)	(58,673)
Due to Affiliates	54,861	51,144
Equity	$ 3,919	$ 7,529

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents	$ 3,280,204	$ 4,252,003
Cash Held by Blackstone Funds and Other	215,444	241,712
Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other	$ 3,495,648	$ 4,493,715	$ 4,312,656	$ 2,199,732

Organization

Organization	6 Months Ended
Organization	Jun. 30, 2023
Organization	1. Organization Blackstone Inc., together with its consolidated subsidiaries (“Blackstone” or the “Company”), is one of the world’s leading investment firms. Blackstone’s asset management business includes investment vehicles focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets and secondary funds, all on a global basis. “Blackstone Funds” refers to the funds and other vehicles that are managed by Blackstone. Blackstone’s business is organized into four segments: Real Estate, Private Equity, Credit & Insurance and Hedge Fund Solutions. Blackstone Inc. was initially formed as The Blackstone Group L.P., a Delaware limited partnership, on March 12, 2007. Prior to its conversion (effective July 1, 2019) to a Delaware corporation, Blackstone Inc. was managed and operated by Blackstone Group Management L.L.C., which is wholly owned by Blackstone’s senior managing directors and controlled by one of Blackstone’s founders, Stephen A. Schwarzman (the “Founder”). The activities of Blackstone are conducted through its holding partnerships: Blackstone Holdings I L.P., Blackstone Holdings AI L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. (collectively, “Blackstone Holdings,” “Blackstone Holdings Partnerships” or the “Holding Partnerships”). Blackstone, through its wholly owned subsidiaries, is the sole general partner of each of the Holding Partnerships. Generally, holders of the limited partner interests in the Holding Partnerships may, four times each year, exchange their limited partnership interests (“Partnership Units”) for Blackstone common stock, on a one-to-one

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2023
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Blackstone have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q. Form 10-K The condensed consolidated financial statements include the accounts of Blackstone, its wholly owned or majority-owned subsidiaries, the consolidated entities which are considered to be variable interest entities and for which Blackstone is considered the primary beneficiary, and certain partnerships or similar entities which are not considered variable interest entities but in which the general partner is determined to have control. All intercompany balances and transactions have been eliminated in consolidation. Consolidation Blackstone consolidates all entities that it controls through a majority voting interest or otherwise, including those Blackstone Funds in which the general partner has a controlling financial interest. Blackstone has a controlling financial interest in Blackstone Holdings because the limited partners do not have the right to dissolve the partnerships or have substantive kick-out non-controlling In addition, Blackstone consolidates all variable interest entities (“VIE”) for which it is the primary beneficiary. An enterprise is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (a) whether an entity in which Blackstone holds a variable interest is a VIE and (b) whether Blackstone’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests, would give it a controlling financial interest. Performance of that analysis requires the exercise of judgment. Blackstone determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a variable interest entity and continuously reconsiders that conclusion. In determining whether Blackstone is the primary beneficiary, Blackstone evaluates its control rights as well as economic interests in the entity held either directly or indirectly by Blackstone. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that Blackstone is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by Blackstone, affiliates of Blackstone or third parties) or amendments to the governing documents of the respective Blackstone Funds could affect an entity’s status as a VIE or the determination of the primary beneficiary. At each reporting date, Blackstone assesses whether it is the primary beneficiary and will consolidate or deconsolidate accordingly. Assets of consolidated VIEs that can only be used to settle obligations of the consolidated VIE and liabilities of a consolidated VIE for which creditors (or beneficial interest holders) do not have recourse to the general credit of Blackstone are presented in a separate section in the Condensed Consolidated Statements of Financial Condition. Blackstone’s other disclosures regarding VIEs are discussed in Note 9. “Variable Interest Entities.” Revenue Recognition Revenues primarily consist of management and advisory fees, incentive fees, investment income, interest and dividend revenue and other. Management and advisory fees and incentive fees are accounted for as contracts with customers. Under the guidance for contracts with customers, an entity is required to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. See Note 18. “Segment Reporting” for a disaggregated presentation of revenues from contracts with customers. Management and Advisory Fees, Net Blackstone earns base management fees from its customers, at a fixed percentage of a calculation base which is typically assets under management, net asset value, gross asset value, total assets, committed capital or invested capital. Blackstone identifies its customers on a fund by fund basis in accordance with the terms and circumstances of the individual fund. Generally, the customer is identified as the investors in its managed funds and investment vehicles, but for certain widely held funds or vehicles, the fund or vehicle itself may be identified as the customer. These customer contracts require Blackstone to provide investment management services, which represents a performance obligation that Blackstone satisfies over time. Management fees are a form of variable consideration because the fees Blackstone is entitled to vary based on fluctuations in the basis for the management fee. The amount recorded as revenue is generally determined at the end of the period because these management fees are payable on a regular basis (typically quarterly) and are not subject to clawback once paid. Transaction, advisory and other fees are principally fees charged to the investors of funds indirectly through the managed funds and portfolio companies. The investment advisory agreements generally require that the investment adviser reduce the amount of management fees payable by the investors to Blackstone (“management fee reductions”) by an amount equal to a portion of the transaction and other fees paid to Blackstone by the portfolio companies. The amount of the reduction varies by fund, the type of fee paid by the portfolio company and the previously incurred expenses of the fund. These fees and associated management fee reductions are a component of the transaction price for Blackstone’s performance obligation to provide investment management services to the investors of funds and are recognized as changes to the transaction price in the period in which they are charged and the services are performed. Management fee offsets are reductions to management fees payable by the investors of the Blackstone Funds, which are based on the amount such investors reimburse the Blackstone Funds or Blackstone primarily for placement fees. Providing investment management services requires Blackstone to arrange for services on behalf of its customers. In those situations where Blackstone is acting as an agent on behalf of the investors of funds, it presents the cost of services as net against management fee revenue. In all other situations, Blackstone is primarily responsible for fulfilling the services and is therefore acting as a principal for those arrangements. As a result, the cost of those services is presented as Compensation or General, Administrative and Other expense, as appropriate, with any reimbursement from the investors of the funds recorded as Management and Advisory Fees, Net. In cases where the investors of the funds are determined to be the customer in an arrangement, placement fees may be capitalized as a cost to acquire a customer contract. Capitalized placement fees are amortized over the life of the customer contract, are recorded within Other Assets in the Consolidated Statements of Financial Condition and amortization is recorded within General, Administrative and Other within the Consolidated Statements of Operations. Accrued but unpaid Management and Advisory Fees, net of management fee reductions and management fee offsets, as of the reporting date are included in Accounts Receivable or Due from Affiliates in the Condensed Consolidated Statements of Financial Condition. Incentive Fees Investment Income (Loss) In carry fund structures and certain open-ended structures, Blackstone, through its subsidiaries, invests alongside its limited partners in a partnership and is entitled to its pro-rata “pro-rata pro-rata Performance Allocations in carry fund structures are made to the general partner based on cumulative fund performance to date, subject to a preferred return to limited partners. Performance Allocations in open-ended structures are based on vehicle performance over a period of time, subject to a high water mark and preferred return to investors. At the end of each reporting period, Blackstone calculates the balance of accrued Performance Allocations (“Accrued Performance Allocations”) that would be due to Blackstone for each fund, pursuant to the fund agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as Accrued Performance Allocations to reflect either (a) positive performance resulting in an increase in the Accrued Performance Allocation to the general partner or (b) negative performance that would cause the amount due to Blackstone to be less than the amount previously recognized as revenue, resulting in a negative adjustment to the Accrued Performance Allocation to the general partner. In each scenario, it is necessary to calculate the Accrued Performance Allocation on cumulative results compared to the Accrued Performance Allocation recorded to date and make the required positive or negative adjustments. Blackstone ceases to record negative Performance Allocations once previously Accrued Performance Allocations for such fund have been fully reversed. Blackstone is not obligated to pay guaranteed returns or hurdles, and therefore, cannot have negative Performance Allocations over the life of a fund. Accrued Performance Allocations as of the reporting date are reflected in Investments in the Condensed Consolidated Statements of Financial Condition. Performance Allocations in carry fund structures are realized when an underlying investment is profitably disposed of and the fund’s cumulative returns are in excess of the preferred return or, in limited instances, after certain thresholds for return of capital are met. Performance Allocations in carry fund structures are subject to clawback to the extent that the Performance Allocation received to date exceeds the amount due to Blackstone based on cumulative results. As such, the accrual for potential repayment of previously received Performance Allocations, which is a component of Due to Affiliates, represents all amounts previously distributed to Blackstone Holdings and non-controlling Principal Investments include the unrealized and realized gains and losses on Blackstone’s principal investments, including its investments in Blackstone Funds that are not consolidated and receive pro-rata Interest and Dividend Revenue Other Revenue lars. Fair Value of Financial Instruments GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: ● Level I – Quoted prices are available in active markets for identical financial instruments as of the reporting date. The types of financial instruments in Level I include listed equities, listed derivatives and mutual funds with quoted prices. Blackstone does not adjust the quoted price for these investments, even in situations where Blackstone holds a large position and a sale could reasonably impact the quoted price. ● Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Financial instruments which are generally included in this category include corporate bonds and loans, including corporate bonds and loans held within consolidated collateralized loan obligations (“CLO”) vehicles, government and agency securities, less liquid and restricted equity securities, and certain over-the-counter ● Level III – Pricing inputs are unobservable for the financial instruments and includes situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category generally include general and limited partnership interests in private equity and real estate funds, credit-focused funds, distressed debt and non-investment non-consolidated over-the-counter In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest level of input that is significant to the fair value measurement. Blackstone’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. Level II Valuation Techniques Financial instruments classified within Level II of the fair value hierarchy comprise debt instruments, debt securities sold, not yet purchased and certain equity securities and derivative instruments valued using observable inputs are also classified as Level II. The valuation techniques used to value financial instruments classified within Level II of the fair value hierarchy are as follows: ● Debt Instruments and Equity Securities are valued on the basis of prices from an orderly transaction between market participants including those provided by reputable dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices and market transactions in comparable investments and various relationships between investments. The valuation of certain equity securities is based on an observable price for an identical security adjusted for the effect of a restriction. ● Freestanding Derivatives are valued using contractual cash flows and observable inputs comprising yield curves, foreign currency rates and credit spreads. ● Notes issued by consolidated CLO vehicles are measured based on the more observable fair value of CLO assets less (a) the fair value of any beneficial interests held by Blackstone, and (b) the carrying value of any beneficial interests that represent compensation for services. Level III Valuation Techniques In the absence of observable market prices, Blackstone values its investments using valuation methodologies applied on a consistent basis. For some investments little market activity may exist; management’s determination of fair value is then based on the best information available in the circumstances, and may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration a combination of internal and external factors, including the appropriate risk adjustments for non-performance non-consolidated Real Estate Investments Private Equity Investments Credit-Focused Investments The market approach is generally used to determine the enterprise value of the issuer of a credit investment, and considers valuation multiples of comparable companies or transactions. The resulting enterprise value will dictate whether or not such credit investment has adequate enterprise value coverage. In cases of distressed credit instruments, the market approach may be used to estimate a recovery value in the event of a restructuring. Investments, at Fair Value Generally, the Blackstone Funds are accounted for as investment companies under the American Institute of Certified Public Accountants Audit and Accounting Guide, Investment Companies Blackstone’s principal investments are presented at fair value with unrealized appreciation or depreciation and realized gains and losses recognized in the Condensed Consolidated Statements of Operations within Investment Income (Loss). For certain instruments, Blackstone has elected the fair value option. Such election is irrevocable and is applied on an investment by investment basis at initial recognition or other eligible election dates. Blackstone has applied the fair value option for certain loans and receivables, unfunded loan commitments and certain investments in private debt securities that otherwise would not have been carried at fair value with gains and losses recorded in net income. The methodology for measuring the fair value of such investments is consistent with the methodology applied to private equity, real estate, credit-focused and funds of hedge funds investments. Changes in the fair value of such instruments are recognized in Investment Income (Loss) in the Condensed Consolidated Statements of Operations. Interest income on interest bearing loans and receivables and debt securities on which the fair value option has been elected is based on stated coupon rates adjusted for the accretion of purchase discounts and the amortization of purchase premiums. This interest income is recorded within Interest and Dividend Revenue. Blackstone has elected the fair value option for the assets of consolidated CLO vehicles. As permitted under GAAP, Blackstone measures notes issued by consolidated CLO vehicles as (a) the sum of the fair value of the consolidated CLO assets and the carrying value of any non-financial Non-Controlling Blackstone has elected the fair value option for certain proprietary investments that would otherwise have been accounted for using the equity method of accounting. The fair value of such investments is based on quoted prices in an active market or using the discounted cash flow method. Changes in fair value are recognized in Investment Income (Loss) in the Condensed Consolidated Statements of Operations. Further disclosure on instruments for which the fair value option has been elected is presented in Note 7. “Fair Value Option.” Blackstone may elect to measure certain proprietary investments in equity securities without readily determinable fair values under the measurement alternative, which reflects cost less impairment, with adjustments in value resulting from observable price changes arising from orderly transactions of the same or a similar security from the same issuer. If the measurement alternative election is not made, the equity security is measured at fair value. The measurement alternative election is made on an instrument by instrument basis. The election is reassessed each reporting period to determine whether investments under the measurement alternative have readily determinable fair values, in which case they would no longer be eligible for this election. The investments of consolidated Blackstone Funds in funds of hedge funds (“Investee Funds”) are valued at net asset value (“NAV”) per share of the Investee Fund. In limited circumstances, Blackstone may determine, based on its own due diligence and investment procedures, that NAV per share does not represent fair value. In such circumstances, Blackstone will estimate the fair value in good faith and in a manner that it reasonably chooses, in accordance with the requirements of GAAP. Certain investments of Blackstone and of the consolidated Blackstone funds of hedge funds and credit-focused funds measure their investments in underlying funds at fair value using NAV per share without adjustment. The terms of the investee’s investment generally provide for minimum holding periods or lock-ups, Security and loan transactions are recorded on a trade date basis. Equity Method Investments Investments in which Blackstone is deemed to exert significant influence, but not control, are accounted for using the equity method of accounting except in cases where the fair value option has been elected. Blackstone has significant influence over all Blackstone Funds in which it invests but does not consolidate. Therefore, its investments in such Blackstone Funds, which generally include both a proportionate and disproportionate allocation of the profits and losses (as is the case with carry funds that include a Performance Allocation), are accounted for under the equity method. Under the equity method of accounting, Blackstone’s share of earnings (losses) from equity method investments is included in Investment Income (Loss) in the Condensed Consolidated Statements of Operations. In cases where Blackstone’s equity method investments provide for a disproportionate allocation of the profits and losses (as is the case with carry funds that include a Performance Allocation), Blackstone’s share of earnings (losses) from equity method investments is determined using a balance sheet approach referred to as the hypothetical liquidation at book value (“HLBV”) method. Under the HLBV method, at the end of each reporting period, Blackstone calculates the Accrued Performance Allocations that would be due to Blackstone for each fund pursuant to the fund agreements as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as Accrued Performance Allocations to reflect either (a) positive performance resulting in an increase in the Accrued Performance Allocation to the general partner, or (b) negative performance that would cause the amount due to Blackstone to be less than the amount previously recognized as revenue, resulting in a negative adjustment to the Accrued Performance Allocation to the general partner. In each scenario, it is necessary to calculate the Accrued Performance Allocation on cumulative results compared to the Accrued Performance Allocation recorded to date and make the required positive or negative adjustments. Blackstone ceases to record negative Performance Allocations once previously Accrued Performance Allocations for such fund have been fully reversed. Blackstone is not obligated to pay guaranteed returns or hurdles, and therefore, cannot have negative Performance Allocations over the life of a fund. The carrying amounts of equity method investments are reflected in Investments in the Condensed Consolidated Statements of Financial Condition. Strategic Partners’ results presented in Blackstone’s condensed consolidated financial statements are reported on a three month lag from Strategic Partners’ fund financial statements, which report the performance of underlying investments generally on a same quarter basis, if available. Therefore, Strategic Partners’ results presented herein do not reflect the impact of economic and market activity in the current quarter. Current quarter market activity of Strategic Partners’ underlying investments is expected to affect Blackstone’s reported results in upcoming periods. Compensation and Benefits Compensation and Benefits Compensation Compensation and Benefits — Incentive Fee Compensation — Compensation and Benefits — Performance Allocations Compensation — in-kind). Non-Controlling Non-Controlling non-controlling Redeemable Non-Controlling Investors in certain consolidated vehicles may be granted redemption rights that allow for quarterly or monthly redemption, as outlined in the relevant governing documents. Such redemption rights may be subject to certain limitations, including limits on the aggregate amount of interests that may be redeemed in a given period, may only allow for redemption following the expiration of a specified period of time, or may be withdrawn subject to a redemption fee during the period when capital may not be withdrawn. As a result, amounts relating to third party interests in such consolidated vehicles are presented as Redeemable Non-Controlling non-controlling Non-Controlling Non-Controlling Non-Controlling Certain costs and expenses are borne directly by the Holdings Partnerships. Income (Loss), excluding those costs directly borne by and attributable to the Holdings Partnerships, is attributable to Non-Controlling Income Taxes Provision of Income Taxes Income taxes are provided for using the asset and liability method under which deferred tax assets and liabilities are recognized for temporary differences between the financial reporting and tax bases of assets and liabilities, resulting in all pretax amounts being appropriately tax effected in the period, irrespective of which tax return year items will be reflected. Blackstone reports interest expense and tax penalties related to income tax matters in provision for income taxes. Deferred Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities. These temporary differences result in taxable or deductible amounts in future years and are measured using the tax rates and laws that will be in effect when such differences are expected to reverse. Valuation allowances are established to reduce the deferred tax assets to the amount that is more likely than not to be realized. Deferred tax assets are separately stated, and deferred tax liabilities are included in Accounts Payable, Accrued Expenses, and Other Liabilities in the condensed consolidated financial statements. Unrecognized Tax Benefits Blackstone recognizes tax positions in the condensed consolidated financial statements when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement. A liability is established for differences between positions taken in the return and amounts recognized in the condensed consolidated financial statements. Net Income (Loss) Per Share of Common Stock Basic Income (Loss) Per Share of Common Stock is calculated by dividing Net Income (Loss) Attributable to Blackstone Inc. by the weighted-average shares of common stock, unvested participating shares of common stock outstanding for the period and vested deferred restricted shares of common stock that have been earned for which issuance of the related shares of common stock is deferred until future periods. Diluted Income (Loss) Per Share of Common Stock reflects the impact of all dilutive securities. Unvested participating shares of common stock are excluded from the computation in periods of loss as they are not contractually obligated to share in losses. Blackstone applies the treasury stock method to determine the dilutive weighted-average common shares outstanding for certain equity-based compensation awards. Blackstone applies the “if-converted” Reverse Repurchase and Repurchase Agreements Securities purchased under agreements to resell (“reverse repurchase agreements”) and securities sold under agreements to repurchase (“repurchase agreements”), comprised primarily of U.S. and non-U.S. Blackstone manages credit exposure arising from reverse repurchase agreements and repurchase agreements by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide Blackstone, in the event of a counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. Blackstone takes possession of securities purchased under reverse repurchase agreements and is permitted to repledge, deliver or otherwise use such securities. Blackstone also pledges its financial instruments to counterparties to collateralize repurchase agreements. Financial instruments pledged that can be repledged, delivered or otherwise used by the counterparty are recorded in Investments in the Condensed Consolidated Statements of Financial Condition. Additional disclosures relating to repurchase agreements are discussed in Note 10. “Repurchase Agreements.” Blackstone does not offset assets and liabilities relating to reverse repurchase agreements and repurchase agreements in its Condensed Consolidated Statements of Financial Condition. Additional disclosures relating to offsetting are discussed in Note 11. “Offsetting of Assets and Liab iliti Securities Sold, Not Yet Purchased Securities Sold, Not Yet Purchased consist of equity and debt securities that Blackstone has borrowed and sold. Blackstone is required to “cover” its short sale in the future by purchasing the security at prevailing market prices and delivering it to the counterparty from which it borrowed the security. Blackstone is exposed to loss in the event that the price at which a security may have to be purchased to cover a short sale exceeds the price at which the borrowed security was sold short. Securities Sold, Not Yet Purchased are recorded at fair value in the Condensed Consolidated Statements of Financial Condition. Derivative Instruments Blackstone recognizes all derivatives as assets or liabilities on its Condensed Consolidated Statements of Financial Condition at fair value. On the date Blackstone enters into a derivative contract, it designates and documents each derivative contract as one of the following: (a) a hedge of a recognized asset or liability (“fair value hedge”), (b) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), (c) a hedge of a net investment in a foreign operation, or (d) a derivative instrument not designated as a hedging instrument (“freestanding derivative”). For freestanding derivative contracts, Blackstone presents changes in fair value in current period earnings. Changes in the fair value of derivative instruments held by consolidated Blackstone Funds are reflected in Net Gains from Fund Investment Activities or, where derivative instruments are held by Blackstone, within Investment Income (Loss) in the Condensed Consolidated Statements of Operations. The fair value of freestanding derivative assets of the consolidated Blackstone Funds are recorded within Investments, the fair value of freestanding derivative assets that are not part of the consolidated Blackstone Funds are recorded within Other Assets and the fair value of freestanding derivative liabilities are recorded within Accounts Payable, Accrued Expenses and Other Liabilities in the Condensed Consolidated Statements of Financial Condition. Blackstone has elected to not offset derivative assets and liabilities or financial assets in its Condensed Consolidated Statements of Financial Condition, including cash, that may be received or paid as part of collateral arrangements, even when an enforceable master netting agreement is in place that provides Blackstone, in the event of counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. Blackstone’s other disclosures regarding derivative financial instruments are discussed in Note 6. “Derivative Financial Instruments.” Blackstone’s disclosures regarding offsetting are discussed in Note 11. “Offsetting of Assets and Liabilities.” Affiliates Blackstone considers its Founder, senior managing directors, employees, the Blackstone Funds an

Intangible Assets

Intangible Assets	6 Months Ended
Intangible Assets	Jun. 30, 2023
Intangible Assets	3. Intangible Assets Intangible Assets, Net consists of the following: June 30, December 31, 2023 2022 Finite-Lived Intangible Assets/Contractual Rights $ 1,769,372 $ 1,745,376 Accumulated Amortization (1,550,151 ) (1,528,089 ) Intangible Assets, Net $ 219,221 $ 217,287 Amortization expense associated with Blackstone’s intangible assets was $9.1 million and $22.1 million for the three and six month periods ended June 30, 2023, respectively, and $18.7 million and $37.4 million for the three and six month periods ended June 30, 2022, respectively. Amortization of Intangible Assets held at June 30, 2023 is expected to be $40.1 million, $35.9 million, $35.9 million, $35.7 million, and $34.6 million for each of the years ending December 31, 2023, 2024, 2025, 2026, and 2027, respectively. Blackstone’s Intangible Assets as of June 30, 2023 are expected to amortize over a weighted-average period of 6.6 years.

Investments

Investments	6 Months Ended
Investments	Jun. 30, 2023
Investments	4. Investments Investments consist of the following: June 30, December 31, 2023 2022 Investments of Consolidated Blackstone Funds $ 5,490,773 $ 5,136,966 Equity Method Investments Partnership Investments 5,585,603 5,530,419 Accrued Performance Allocations 11,496,244 12,360,684 Corporate Treasury Investments 707,079 1,053,540 Other Investments 3,768,922 3,471,642 $ 27,048,621 $ 27,553,251 Blackstone’s share of Investments of Consolidated Blackstone Funds totaled $278.5 million and $393.9 million at June 30, 2023 and December 31, 2022, respectively. Where appropriate, the accounting for Blackstone’s investments incorporates the changes in fair value of those investments as determined under GAAP. The significant inputs and assumptions required to determine the change in fair value of the investments of Consolidated Blackstone Funds, Corporate Treasury Investments and Other Investments are discussed in more detail in Note 8. “Fair Value Measurements of Financial Instruments.” Investments of Consolidated Blackstone Funds The following table presents the Realized and Net Change in Unrealized Gains (Losses) on investments held by the consolidated Blackstone Funds and a reconciliation to Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities in the Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Gains $ 3,653 $ 94,181 $ 20,808 $ 111,869 Net Change in Unrealized Gains (Losses) 58,104 (213,436 ) 40,950 (185,595 ) Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds 61,757 (119,255 ) 61,758 (73,726 ) Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds 18,743 14,929 89,806 20,276 Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities $ 80,500 $ (104,326 ) $ 151,564 $ (53,450 ) Equity Method Investments Blackstone’s equity method investments include Partnership Investments, which represent the pro-rata Partnership Investments Blackstone recognized net gains (losses) related to its Partnership Investments accounted for under the equity method of $91.4 million and $(138.7) million for the three months ended June 30, 2023 and 2022, respectively. Blackstone recognized net gains (losses) related to its equity method investments of $160.5 million and $197.6 million for the six months ended June 30, 2023 and 2022, respectively. Accrued Performance Allocations Accrued Performance Allocations to Blackstone were as follows: Real Private Credit & Hedge Fund Estate Equity Insurance Solutions Total Accrued Performance Allocations, December 31, 2022 $ 5,334,117 $ 6,037,575 $ 569,898 $ 419,094 $ 12,360,684 Performance Allocations as a Result of Changes in Fund Fair Values (422,453 ) 808,471 75,955 44,234 506,207 Foreign Exchange Gain 12,366 — — — 12,366 Fund Distributions (503,135 ) (597,999 ) (199,353 ) (82,526 ) (1,383,013 ) Accrued Performance Allocations, $ 4,420,895 $ 6,248,047 $ 446,500 $ 380,802 $ 11,496,244 Corporate Treasury Investments The portion of corporate treasury investments included in Investments represents Blackstone’s investments into primarily fixed income securities, mutual fund interests, and other fund interests. These strategies are managed by a combination of Blackstone personnel and third party advisors. The following table presents the Realized and Net Change in Unrealized Gains (Losses) on these investments: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Gains (Losses) $ (2,297 ) $ (18,655 ) $ 77 $ (20,617 ) Net Change in Unrealized Gains (Losses) 791 (19,980 ) 8,586 (47,583 ) $ (1,506 ) $ (38,635 ) $ 8,663 $ (68,200 ) Other Investments Other Investments consist of equity method investments where Blackstone has elected the fair value option and other proprietary investment securities held by Blackstone, including equity securities carried at fair value, equity investments without readily determinable fair values, and senior secured and subordinated notes in non-consolidated lock-up Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Gains (Losses) $ (18,109 ) $ 15,992 $ (16,185 ) $ 117,341 Net Change in Unrealized Gains (Losses) 157,968 (70,785 ) (155,185 ) (151,270 ) $ 139,859 $ (54,793 ) $ (171,370 ) $ (33,929 )

Net Asset Value as Fair Value

Net Asset Value as Fair Value	6 Months Ended
Net Asset Value as Fair Value	Jun. 30, 2023
Net Asset Value as Fair Value	5. Net Asset Value as Fair Value A summary of fair value by strategy type and ability to redeem such investments as of June 30, 2023 is presented below: Redemption Frequency Redemption Strategy (a) Fair Value (if currently eligible) Notice Period Equity $ 476,512 (b) (b) Real Estate 122,629 (c) (c) Credit Driven 5,269 (d) (d) Commodities 1,089 (e) (e) Diversified Instruments 17 (f) (f) $ 605,516 (a) As of June 30, 2023, Blackstone had no unfunded commitments. (b) The Equity category includes investments in hedge funds that invest primarily in domestic and international equity securities. Investments representing 25% of the fair value of the investments in this category may not be redeemed at, or within three months of, the reporting date. Investments representing 75% of the fair value of the investments in this category are redeemable as of the reporting date. (c) The Real Estate category includes investments in funds that primarily invest in real estate assets. All investments in this category are redeemable as of the reporting date. (d) The Credit Driven category includes investments in hedge funds that invest primarily in domestic and international bonds. All investments in this category may not be redeemed at, or within three months of, the reporting date. (e) The Commodities category includes investments in commodities-focused funds that primarily invest in futures and physical-based commodity driven strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date. (f) Diversified Instruments include investments in funds that invest across multiple strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
Derivative Financial Instruments	Jun. 30, 2023
Derivative Financial Instruments	6. Derivative Financial Instruments Blackstone and the consolidated Blackstone Funds enter into derivative contracts in the normal course of business to achieve certain risk management objectives and for general investment and business purposes. Blackstone may enter into derivative contracts in order to hedge its interest rate risk exposure against the effects of interest rate changes. Additionally, Blackstone may also enter into derivative contracts in order to hedge its foreign currency risk exposure against the effects of a portion of its non-U.S. Freestanding Derivatives Freestanding derivatives are instruments that Blackstone and certain of the consolidated Blackstone Funds have entered into as part of their overall risk management and investment strategies. These derivative contracts are not designated as hedging instruments for accounting purposes. Such contracts may include interest rate swaps, foreign exchange contracts, equity swaps, options, futures and other derivative contracts. The table below summarizes the aggregate notional amount and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts. June 30, 2023 December 31, 2022 Assets Liabilities Assets Liabilities Fair Fair Fair Fair Notional Value Notional Value Notional Value Notional Value Freestanding Derivatives Blackstone Interest Rate Contracts $ 823,830 $ 179,531 $ 620,900 $ 85,721 $ 789,540 $ 188,043 $ 621,700 $ 83,331 Foreign Currency Contracts 221,472 2,472 531,099 5,811 541,238 8,040 190,774 3,542 Credit Default Swaps 3,108 643 3,748 670 2,007 384 8,768 1,309 Total Return Swaps 20,010 3,417 — — 42,233 6,210 — — Equity Options — — 1,135,435 221,456 — — 996,592 48,581 1,068,420 186,063 2,291,182 313,658 1,375,018 202,677 1,817,834 136,763 Investments of Consolidated Blackstone Funds Interest Rate Contracts 848,251 79,083 — — 931,752 74,926 — — Foreign Currency Contracts — — — — — — 5,133 284 848,251 79,083 — — 931,752 74,926 5,133 284 $ 1,916,671 $ 265,146 $ 2,291,182 $ 313,658 $ 2,306,770 $ 277,603 $ 1,822,967 $ 137,047 The table below summarizes the impact to the Condensed Consolidated Statements of Operations from derivative financial instruments: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Freestanding Derivatives Realized Gains (Losses) Interest Rate Contracts $ (189 ) $ 1,379 $ 147 $ 5,278 Foreign Currency Contracts 4,433 (8,767 ) 10,023 (4,775 ) Credit Default Swaps (362 ) 33 (413 ) 128 Total Return Swaps 6,373 — 11,025 — 10,255 (7,355 ) 20,782 631 Net Change in Unrealized Gains (Losses) Interest Rate Contracts 4,897 72,721 2,777 107,677 Foreign Currency Contracts (4,655 6,766 (7,838 ) (2,606 Credit Default Swaps 592 (433 364 (420 ) Total Return Swaps (2,164 — (2,177 ) — Equity Options (18,038 — (172,876 ) — (19,368 79,054 (179,750 ) 104,651 $ (9,113 $ 71,699 $ (158,968 $ 105,282 As of June 30, 2023 and December 31, 2022, Blackstone

Fair Value Option

Fair Value Option	6 Months Ended
Fair Value Option	Jun. 30, 2023
Fair Value Option	7. Fair Value Option The following table summarizes the financial instruments for which the fair value option has been elected: June 30, December 31, 2023 2022 Assets Loans and Receivables $ 76,861 $ 315,039 Equity and Preferred Securities 2,295,099 1,868,192 Debt Securities 64,697 24,784 Assets of Consolidated CLO Vehicles Corporate Loans 219,324 — $ 2,655,981 $ 2,208,015 Liabilities CLO Notes Payable $ 264,234 $ — Corporate Treasury Commitments 3,771 8,144 $ 268,005 $ 8,144 The following tables present the Realized and Net Change in Unrealized Gains (Losses) on financial instruments on which the fair value option was elected: Three Months Ended June 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (5,232 ) $ 4,227 $ (1,964 ) $ (6,805 ) Equity and Preferred Securities (2,878 ) 26,812 13,023 (19,774 ) Debt Securities — (876 ) (3,415 ) (19,227 ) Assets of Consolidated CLO Vehicles Corporate Loans (3,070 ) 4,150 — — $ (11,180 ) $ 34,313 $ 7,644 $ (45,806 ) Liabilities CLO Notes Payable $ — $ (1,541 ) $ — $ — Corporate Treasury Commitments — 2,147 — (6,868 ) $ — $ 606 $ — $ (6,868 ) Six Months Ended June 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (5,995 ) $ 3,924 $ (3,417 ) $ (5,359 ) Equity and Preferred Securities (1,182 ) (18,301 ) 12,301 (12,938 ) Debt Securities — (2,707 ) (4,367 ) (28,209 ) Assets of Consolidated CLO Vehicles Corporate Loans (6,199 ) 4,632 — — $ (13,376 ) $ (12,452 ) $ 4,517 $ (46,506 ) Liabilities CLO Notes Payable $ — $ 923 $ — $ — Corporate Treasury Commitments — 4,373 — (8,061 ) $ — $ 5,296 $ — $ (8,061 ) The following table presents information for those financial instruments for which the fair value option was elected: June 30, 2023 December 31, 2022 For Financial Assets For Financial Assets Past Due (a) Past Due (a) Excess (Deficiency) (Deficiency) Excess of Fair Value Fair of Fair Value of Fair Value Fair of Fair Value Over Principal Value Over Principal Over Principal Value Over Principal Loans and Receivables $ 482 $ — $ — $ (2,861 ) $ — $ — Debt Securities (53,387 ) — — (48,670 ) — — Assets of Consolidated CLO Vehicles Corporate Loans (7,750 ) 385 (644 ) — — — $ (60,655 ) $ 385 $ (644 ) $ (51,531 ) $ — $ — (a) Assets are classified as past due if contractual payments are more than 90 days past due. As of June 30, 2023 and December 31, 2022, no Loans and Receivables for which the fair value option was elected were past due or in non-accrual non-accrual non-accrual

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	6 Months Ended
Fair Value Measurements of Financial Instruments	Jun. 30, 2023
Fair Value Measurements of Financial Instruments	8. Fair Value Measurements of Financial Instruments The following tables summarize the valuation of Blackstone’s financial assets and liabilities by the fair value hierarchy: June 30, 2023 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents $ 446,001 $ — $ — $ — $ 446,001 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 9,331 132,755 4,421,124 599,142 5,162,352 Debt Instruments — 230,611 18,727 — 249,338 Freestanding Derivatives — 79,083 — — 79,083 Total Investments of Consolidated Blackstone Funds 9,331 442,449 4,439,851 599,142 5,490,773 Corporate Treasury Investments 106,037 595,544 5,498 — 707,079 Other Investments 1,318,830 2,000,511 85,355 6,374 3,411,070 Total Investments 1,434,198 3,038,504 4,530,704 605,516 9,608,922 Accounts Receivable - Loans and Receivables — — 76,861 — 76,861 Other Assets - Freestanding Derivatives 885 181,761 3,417 — 186,063 $ 1,881,084 $ 3,220,265 $ 4,610,982 $ 605,516 $ 10,317,847 Liabilities Loans Payable - CLO Notes Payable $ — $ 264,234 $ — $ — $ 264,234 Securities Sold, Not Yet Purchased 3,821 — — — 3,821 Accounts Payable, Accrued Expenses and Other Liabilities Freestanding Derivatives (b) 142 92,060 221,456 — 313,658 Contingent Consideration (c) — — 800 — 800 Corporate Treasury Commitments (d) — — 3,771 — 3,771 Total Accounts Payable, Accrued Expenses and Other Liabilities 142 92,060 226,027 — 318,229 $ 3,963 $ 356,294 $ 226,027 $ — $ 586,284 December 31, 2022 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents $ 1,134,733 $ — $ — $ — $ 1,134,733 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 12,024 149,689 4,195,859 596,708 4,954,280 Debt Instruments — 53,787 53,973 — 107,760 Freestanding Derivatives — 74,926 — — 74,926 Total Investments of Consolidated Blackstone Funds 12,024 278,402 4,249,832 596,708 5,136,966 Corporate Treasury Investments 116,266 931,406 5,868 — 1,053,540 Other Investments 1,473,611 1,597,696 51,155 5,985 3,128,447 Total Investments 1,601,901 2,807,504 4,306,855 602,693 9,318,953 Accounts Receivable - Loans and Receivables — — 315,039 — 315,039 Other Assets - Freestanding Derivatives 279 196,188 6,210 — 202,677 $ 2,736,913 $ 3,003,692 $ 4,628,104 $ 602,693 $ 10,971,402 Liabilities Securities Sold, Not Yet Purchased $ 3,825 $ — $ — $ — $ 3,825 Accounts Payable, Accrued Expenses and Other Liabilities Consolidated Blackstone Funds - Freestanding Derivatives — 284 — — 284 Freestanding Derivatives (b) 21 88,161 48,581 — 136,763 Corporate Treasury Commitments (d) — — 8,144 — 8,144 Total Accounts Payable, Accrued Expenses and Other Liabilities 21 88,445 56,725 — 145,191 $ 3,846 $ 88,445 $ 56,725 $ — $ 149,016 LLC Limited Liability Company. (a) Equity Securities, Partnership and LLC Interest includes investments in investment funds. (b) Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility. (c) Level III contingent consideration liabilities are valued using a discounted cash flow model where the significant inputs include the discount rates. (d) Corporate Treasury Commitments are measured using third party pricing. The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of June 30, 2023: Fair Value Valuation Techniques Unobservable Ranges Weighted- Impact to Financial Assets Investments of Consolidated Equity Securities, Partnership and LLC Interests $ 4,421,124 Discounted Cash Flows Discount Rate 3.3% - 36.1% 7.8% Lower Exit Multiple - EBITDA 4.0x - 30.6x 14.5x Higher Exit Capitalization Rate 1.7% - 13.0% 4.8% Lower Transaction Price n/a Debt Instruments 18,727 Transaction Price n/a Total Investments of Consolidated Blackstone Funds 4,439,851 Corporate Treasury Investments 5,498 Third Party Pricing n/a Loans and Receivables 76,861 Discounted Cash Flows Discount Rate 9.5% - 11.7% 10.1% Lower Other Investments (b) 88,772 Transaction Price n/a Third Party Pricing n/a $ 4,610,982 The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of December 31, 2022: Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted- Impact to Financial Assets Investments of Consolidated Equity Securities, Partnership and LLC Interests $ 4,195,859 Discounted Cash Flows Discount Rate 4.1% - 34.5% 8.8% Lower Exit Multiple - EBITDA 4.0x - 30.6x 14.7x Higher Exit Capitalization Rate 2.6% - 14.4% 4.7% Lower Transaction Price n/a Debt Instruments 53,973 Transaction Price n/a Third Party Pricing n/a Total Investments of Consolidated Blackstone Funds 4,249,832 Corporate Treasury Investments 5,868 Third Party Pricing n/a Loans and Receivables 315,039 Discounted Cash Flows Discount Rate 7.6% - 11.5% 9.8% Lower Other Investments (b) 57,365 Transaction Price n/a Third Party Pricing n/a $ 4,628,104 n/a Not applicable. EBITDA Earnings before interest, taxes, depreciation and amortization. Exit Multiple Ranges include the last twelve months EBITDA and forward EBITDA multiples. Third Party Pricing Third Party Pricing is generally determined on the basis of unadjusted prices between market participants provided by reputable dealers or pricing services. Transaction Price Includes recent acquisitions or transactions. (a) Unobservable inputs were weighted based on the fair value of the investments included in the range. (b) As of June 30, 2023 and December 31, 2022, Other Investments includes Level III Freestanding Derivatives. For the six months ended June 30, 2023, there have been no changes in valuation techniques within Level II and Level III that have had a material impact on the valuation of financial instruments. The following tables summarize the changes in financial assets and liabilities measured at fair value for which Blackstone has used Level III inputs to determine fair value and does not include gains or losses that were reported in Level III in prior years or for instruments that were transferred out of Level III prior to the end of the respective reporting period. These tables also exclude financial assets and liabilities measured at fair value on a non-recurring Level III Financial Assets at Fair Value Three Months Ended June 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period $ 4,338,509 $ 307,288 $ 74,604 $ 4,720,401 $ 1,208,252 $ 286,199 $ 43,214 $ 1,537,665 Transfer In Due to Consolidation and Acquisition — — — — 1,535,171 — — 1,535,171 Transfer Into Level III (b) 124 — — 124 4,692 — 907 5,599 Transfer Out of Level III (b) (4,751 ) — — (4,751 ) (56,268 ) — — (56,268 ) Purchases 121,526 116,897 2,291 240,714 269,788 441,687 4,752 716,227 Sales (53,152 (349,787 ) (1,523 ) (404,462 ) (103,118 ) (186,532 ) (2,748 ) (292,398 ) Issuances — 6,319 — 6,319 — 14,125 — 14,125 Settlements (c) — (19,292 ) (5,225 ) (24,517 ) — (17,165 ) — (17,165 ) Changes in Gains (Losses) Included in Earnings 37,595 15,436 3,465 56,496 (66,705 ) (4,209 ) (7,522 ) (78,436 ) Balance, End of Period $ 4,439,851 $ 76,861 $ 73,612 $ 4,590,324 $ 2,791,812 $ 534,105 $ 38,603 $ 3,364,520 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date $ 70,082 $ 19,577 $ 1,181 $ 90,840 $ (73,347 ) $ (8,097 ) $ (7,517 ) $ (88,961 ) Level III Financial Assets at Fair Value Six Months Ended June 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period $ 4,249,832 $ 315,039 $ 30,971 $ 4,595,842 $ 1,200,315 $ 392,732 $ 43,987 $ 1,637,034 Transfer In Due to Consolidation and Acquisition — — — — 1,535,171 — — 1,535,171 Transfer Out Due to Deconsolidation (3,837 ) — — (3,837 ) — — — — Transfer Into Level III (b) 13,997 — 898 14,895 4,696 — 907 5,603 Transfer Out of Level III (b) (5,064 ) — (2,725 ) (7,789 ) (110,176 ) — — (110,176 ) Purchases 170,869 171,967 51,693 394,529 327,810 444,784 7,498 780,092 Sales (121,707 ) (436,512 ) (1,703 ) (559,922 ) (167,431 ) (305,025 ) (2,812 ) (475,268 ) Issuances — 57,008 — 57,008 — 23,899 — 23,899 Settlements (c) — (53,088 ) (4,696 ) (57,784 ) — (22,018 ) — (22,018 ) Changes in Gains (Losses) Included in Earnings 135,761 22,447 (826 ) 157,382 1,427 (267 ) (10,977 ) (9,817 ) Balance, End of Period $ 4,439,851 $ 76,861 $ 73,612 $ 4,590,324 $ 2,791,812 $ 534,105 $ 38,603 $ 3,364,520 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date $ 89,027 $ 17,839 $ 4,653 $ 111,519 $ (20,852 ) $ (7,883 ) $ (10,971 ) $ (39,706 ) (a) Represents freestanding derivatives, corporate treasury investments and Other Investments. (b) Transfers in and out of Level III financial assets and liabilities were due to changes in the observability of inputs used in the valuation of such assets and liabilities. (c) For Freestanding Derivatives included within Other Investments, Settlements includes all ongoing contractual cash payments made or received over the life of the instrument.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
Variable Interest Entities	Jun. 30, 2023
Variable Interest Entities	9. Variable Interest Entities Pursuant to GAAP consolidation guidance, Blackstone consolidates certain VIEs for which it is the primary beneficiary either directly or indirectly, through a consolidated entity or affiliate. VIEs include certain private equity, real estate, credit-focused or funds of hedge funds entities and CLO vehicles. The purpose of such VIEs is to provide strategy specific investment opportunities for investors in exchange for management and performance-based fees. The investment strategies of the Blackstone Funds differ by product; however, the fundamental risks of the Blackstone Funds are similar, including loss of invested capital and loss of management fees and performance-based fees. In Blackstone’s role as general partner, collateral manager or investment adviser, it generally considers itself the sponsor of the applicable Blackstone Fund. Blackstone does not provide performance guarantees and has no other financial obligation to provide funding to consolidated VIEs other than its own capital commitments. The assets of consolidated variable interest entities may only be used to settle obligations of these entities. In addition, there is no recourse to Blackstone for the consolidated VIEs’ liabilities. Blackstone holds variable interests in certain VIEs which are not consolidated as it is determined that Blackstone is not the primary beneficiary. Blackstone’s involvement with such entities is in the form of direct and indirect equity interests and fee arrangements. The maximum exposure to loss represents the loss of assets recognized by Blackstone relating to non-consolidated non-consolidated June 30, December 31, 2023 2022 Investments $ 3,108,832 $ 3,326,669 Due from Affiliates 191,026 189,240 Potential Clawback Obligation 74,125 384,926 Maximum Exposure to Loss $ 3,373,983 $ 3,900,835 Amounts Due to Non-Consolidated $ 68 $ 6

Repurchase Agreements

Repurchase Agreements	6 Months Ended
Repurchase Agreements	Jun. 30, 2023
Repurchase Agreements	10. Repurchase Agreements At June 30, 2023 and December 31, 2022, Blackstone pledged securities with a carrying value of $18.3 million and $89.9 million, respectively, and cash to collateralize its repurchase agreements. Such securities can be repledged, delivered or otherwise used by the counterparty. The following tables provide information regarding Blackstone’s Repurchase Agreements obligation by type of collateral pledged: June 30, 2023 Remaining Contractual Maturity of the Agreements Overnight Greater and Up to 30 - 90 than Continuous 30 Days Days 90 days Total Repurchase Agreements Loans $ — $ 18,262 $ — $ — $ 18,262 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 11. “Offsetting of Assets and Liabilities” $ 18,262 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. “Offsetting of Assets and Liabilities” $ — December 31, 2022 Remaining Contractual Maturity of the Agreements Overnight Greater and Up to 30 - 90 than Continuous 30 Days Days 90 days Total Repurchase Agreements Loans $ — $ 70,776 $ — $ 19,168 $ 89,944 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 11. “Offsetting of Assets and Liabilities” $ 89,944 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. “Offsetting of Assets and Liabilities” $ —

Offsetting of Assets And Liabil

Offsetting of Assets And Liabilities	6 Months Ended
Offsetting of Assets And Liabilities	Jun. 30, 2023
Offsetting of Assets and Liabilities	11. Offsetting of Assets and Liabilities The following tables present the offsetting of assets and liabilities as of June 30, 2023 and D June 30, 2023 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives $ 265,146 $ 167,069 $ 86,222 $ 11,855 June 30, 2023 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 92,202 $ 87,529 $ 820 $ 3,853 Repurchase Agreements 18,262 18,262 — — $ 110,464 $ 105,791 $ 820 $ 3,853 December 31, 2022 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives $ 277,603 $ 165,897 $ 96,436 $ 15,270 December 31, 2022 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 88,182 $ 85,366 $ 1,345 $ 1,471 Repurchase Agreements 89,944 89,944 — — $ 178,126 $ 175,310 $ 1,345 $ 1,471 (a) Amounts presented are inclusive of both legally enforceable master netting agreements, and financial instruments received or pledged as collateral. Financial instruments received or pledged as collateral offset derivative counterparty risk exposure, but do not reduce net balance sheet exposure. Repurchase Agreements are presented separately in the Condensed Consolidated Statements of Financial Condition. Freestanding Derivative assets are included in Other Assets in the Condensed Consolidated Statements of Financial Condition. The following table presents the components of Other Assets: June 30, December 31, 2023 2022 Furniture, Equipment and Leasehold Improvements $ 850,814 $ 748,334 Less: Accumulated Depreciation (355,673 ) (336,621 ) Furniture, Equipment and Leasehold Improvements, Net 495,141 411,713 Prepaid Expenses 201,700 165,079 Freestanding Derivatives 186,063 202,677 Other 22,550 20,989 $ 905,454 $ 800,458 Freestanding Derivative liabilities are included in Accounts Payable, Accrued Expenses and Other Liabilities in the Condensed Consolidated Statements of Financial Condition. Notional Pooling Arrangements Blackstone has notional cash pooling arrangements with financial institutions for cash management purposes. These arrangements allow for cash withdrawals based upon aggregate cash balances on deposit at the same financial institution. Cash withdrawals cannot exceed aggregate cash balances on deposit. The net balance of cash on deposit and overdrafts is used as a basis for calculating net interest expense or income. As of June 30, 2023, the aggregate cash balance on deposit relating to the cash pooling arrangements was $869.4 million, which was offset and reported net of the accompanying overdraft of $869.3 million.

Borrowings

Borrowings	6 Months Ended
Borrowings	Jun. 30, 2023
Borrowings	12. Borrowings The following table presents each of Blackstone’s borrowings as of June 30, 2023 and December 31, 2022, as well as their carrying value and fair value. The borrowings are included in Loans Payable within the Condensed Consolidated Statements of Financial Condition. Each of the Senior Notes were issued at a discount through Blackstone’s indirect subsidiary, Blackstone Holdings Finance Co. L.L.C. The Senior Notes accrue interest from the issue date thereof and pay interest in arrears on a semi-annual basis or annual basis. The Secured Borrowings were issued at par, accrue interest from the issue date thereof and pay interest in arrears on a quarterly basis. CLO Notes Payable pay interest in arrears on a quarterly basis. June 30, 2023 December 31, 2022 Carrying Fair Carrying Fair Description Value Value Value Value Blackstone Operating Borrowings Senior Notes (a) 4.750%, Due 2/15/2023 $ — $ — $ 399,838 $ 399,776 2.000%, Due 5/19/2025 331,763 308,845 325,292 305,754 1.000%, Due 10/5/2026 655,736 580,714 642,968 568,525 3.150%, Due 10/2/2027 298,287 272,298 298,101 271,284 5.900%, Due 11/3/2027 594,888 608,640 594,381 606,450 1.625%, Due 8/5/2028 644,929 538,610 644,456 530,933 1.500%, Due 4/10/2029 658,458 551,561 645,819 532,043 2.500%, Due 1/10/2030 493,085 413,485 492,604 405,965 1.600%, Due 3/30/2031 496,217 372,605 495,990 365,380 2.000%, Due 1/30/2032 788,679 597,488 788,082 589,407 2.550%, Due 3/30/2032 495,437 393,480 495,207 390,370 6.200%, Due 4/22/2033 891,583 917,703 891,277 907,965 3.500%, Due 6/1/2034 514,883 473,587 504,695 452,934 6.250%, Due 8/15/2042 239,314 245,693 239,176 251,480 5.000%, Due 6/15/2044 489,838 442,719 489,704 441,355 4.450%, Due 7/15/2045 344,619 279,629 344,549 287,242 4.000%, Due 10/2/2047 291,041 221,634 290,935 227,946 3.500%, Due 9/10/2049 392,347 266,828 392,259 275,588 2.800%, Due 9/30/2050 394,030 229,528 393,958 237,552 2.850%, Due 8/5/2051 543,239 319,418 543,162 323,527 3.200%, Due 1/30/2052 987,265 637,700 987,131 646,880 10,545,638 8,672,165 10,899,584 9,018,356 Other (b) Secured Borrowing, Due 10/27/2033 19,983 19,983 — — Secured Borrowing, Due 1/29/2035 20,000 20,000 — — 10,585,621 8,712,148 10,899,584 9,018,356 Borrowings of Consolidated Blackstone Funds Blackstone Fund Facilities (c) 1,450,000 1,450,000 1,450,000 1,450,000 CLO Notes Payable (d) 264,234 264,234 — — 1,714,234 1,714,234 1,450,000 1,450,000 $ 12,299,855 $ 10,426,382 $ 12,349,584 $ 10,468,356 (a) Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy. (b) The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.31% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72% . (c) Blackstone Fund Facilities represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Borrowings bear interest at spreads to market rates or at stated fixed rates that can vary over the borrowing term. Interest may be subject to the performance of the assets within the fund and therefore, the stated interest rate and effective interest rate may differ. (d) CLO Notes Payable are due 10/15/2029 and have an effective interest rate of 7.44% as of June 30, 2023. S Blackstone Borrowings of Operating Borrowings Consolidated Blackstone Funds Total 2023 $ 51 $ — $ 51 2024 — — — 2025 335,493 — 335,493 2026 660,587 — 660,587 2027 911,572 — 911,572 Thereafter 8,814,080 1,751,546 10,565,626 $ 10,721,783 $ 1,751,546 $ 12,473,329

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Taxes	13. Income Taxes Blackstone’s net deferred tax assets relate primarily to basis differences resulting from a step-up Blackstone is subject to examination by the U.S. Internal Revenue Service and other taxing authorities where Blackstone has significant business operations such as the United Kingdom, and various state and local jurisdictions such as New York State and New York City. The tax years under examination vary by jurisdiction. Blackstone does not expect the completion of these audits to have a material impact on its financial condition, but it may be material to operating results for a particular period, depending on the operating results for that period. Blackstone believes the liability established for unrecognized tax benefits is adequate in relation to the potential for additional assessments. It is reasonably possible that changes in the balance of unrecognized tax benefits may occur within the next 12 months; however, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits and the impact on Blackstone’s effective tax rate over the next 12 months. As of June 30, 2023, the following are the major filing jurisdictions and their respective earliest open tax period subject to examination: Jurisdiction Year Federal 2019 New York City 2009 New York State 2016 United Kingdom 2011

Earnings Per Share and Stockhol

Earnings Per Share and Stockholders' Equity	6 Months Ended
Earnings Per Share and Stockholders' Equity	Jun. 30, 2023
Earnings Per Share and Stockholders' Equity	14. Earnings Per Share and Stockholders’ Equity Earnings Per Share Basic and diluted net income per share of common stock for the three and six months ended June 30, 2023 and 2022 was calculated as follows: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Net Income (Loss) for Per Share of Common Stock Calculations Net Income (Loss) Attributable to Blackstone Inc., Basic and Diluted $ 601,274 $ (29,393 ) $ 687,086 $ 1,187,481 Shares/Units Outstanding Weighted-Average Shares of Common Stock Outstanding, Basic 758,479,943 707,382,293 752,306,729 738,752,489 Weighted-Average Shares of Unvested Deferred Restricted Common Stock 68,305 — 323,656 388,373 Weighted-Average Shares of Common Stock Outstanding, Diluted 758,548,248 707,382,293 752,630,385 739,140,862 Net Income (Loss) Per Share of Common Stock Basic $ 0.79 $ (0.04 ) $ 0.91 $ 1.61 Diluted $ 0.79 $ (0.04 ) $ 0.91 $ 1.61 Dividends Declared Per Share of Common Stock (a) $ 0.82 $ 1.32 $ 1.73 $ 2.77 (a) Dividends declared reflects the calendar date of the declaration for each distribution. In computing the dilutive effect that the exchange of Blackstone Holdings Partnership Units would have on Net Income Per Share of Common Stock, Blackstone considered that net income available to holders of shares of common stock would increase due to the elimination of non-controlling non-controlling The following table summarizes the anti-dilutive securities for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Weighted-Average Shares of Unvested Deferred Restricted Common Stock — 35,883,883 — — Weighted-Average Blackstone Holdings Partnership Units 461,569,524 466,817,529 462,255,884 467,303,495 Share Repurchase Program On December 7, 2021, Blackstone’s board of directors authorized the repurchase of up to $2.0 billion of common stock and Blackstone Holdings Partnership Units. Under the repurchase program, repurchases may be made from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing and the actual numbers repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions. The repurchase program may be changed, suspended or discontinued at any time and does not have a specified expiration date. During the three and six months ended June 30, 2023, Blackstone repurchased 1.0 million and 2.0 million shares of common stock at a total cost of $86.0 million and $176.1 million, respectively. During the three and six months ended June 30, 2022, Blackstone repurchased 1.9 million shares of common stock at a total cost of $195.3 million. As of June 30, 2023, the amount remaining available for repurchases under the program was $931.9 million. Shares Eligible for Dividends and Distributions As of June 30, 2023, the total shares of common stock and Blackstone Holdings Partnership Units entitled to participate in dividends and distributions were as follows: Shares/Units Common Stock Outstanding 713,551,859 Unvested Participating Common Stock 44,596,669 Total Participating Common Stock 758,148,528 Participating Blackstone Holdings Partnership Units 461,135,682 1,219,284,210

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
Equity-Based Compensation	Jun. 30, 2023
Equity-Based Compensation	15. Equity-Based Compensation Blackstone has granted equity-based compensation awards to Blackstone’s senior managing directors, non-partner non-professionals For the three and six months ended June 30, 2023, Blackstone recorded compensation expense of $260.4 million and $537.8 million, respectively, in relation to its equity-based awards with corresponding tax benefits of $43.8 million and $83.1 million, respectively. For the three and six months ended June 30, 2022, Blackstone recorded compensation expense of $210.8 million and $429.9 million, respectively, in relation to its equity-based awards with corresponding tax benefits of $12.2 million and $72.9 million, respectively. As of June 30, 2023, there was $2.4 billion of estimated unrecognized compensation expense related to unvested awards, including compensation with performance conditions where it is probable that the performance condition will be met. This cost is expected to be recognized over a weighted-average period of 3.1 years. Total vested and unvested outstanding shares, including common stock, Blackstone Holdings Partnership Units and deferred restricted shares of common stock, were 1,219,294,017 as of June 30, 2023. Total outstanding phantom shares were 113,882 as of June 30, 2023. A summary of the status of Blackstone’s unvested equity-based awards as of June 30, 2023 and of changes during the period January 1, 2023 through June 30, 2023 is presented below: Blackstone Holdings Blackstone Inc. Equity Settled Awards Cash Settled Awards Weighted- Weighted- Weighted- Average Deferred Average Average Partnership Grant Date Restricted Shares Grant Date Phantom Grant Date Unvested Shares/Units Units Fair Value of Common Stock Fair Value Shares Fair Value Balance, December 31, 2022 11,029,996 $ 38.02 31,001,563 $ 82.94 48,886 $ 85.04 Granted — — 15,457,565 85.14 61,534 91.79 Vested (1,355,119 ) 35.86 (3,291,391 ) 81.28 (3,461 ) 89.78 Forfeited (46,823 ) 42.53 (452,129 ) 88.44 — — Balance, June 30, 2023 9,628,054 $ 38.34 42,715,608 $ 83.82 106,959 $ 90.52 Shares/Units Expected to Vest The following unvested shares and units, after expected forfeitures, as of June 30, 2023, are expected to vest: Weighted- Average Service Period Shares/Units in Years Blackstone Holdings Partnership Units 9,670,998 0.8 Deferred Restricted Shares of Common Stock 37,435,792 3.6 Total Equity-Based Awards 47,106,790 3.0 Phantom Shares 88,674 4.5

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2023
Related Party Transactions	16. Related Party Transactions Affiliate Receivables and Payables Due from Affiliates and Due to Affiliates consisted of the following: June 30, December 31, 2023 2022 Due from Affiliates Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated $ 3,445,194 $ 3,344,813 Due from Certain Non-Controlling 778,811 741,319 Accrual for Potential Clawback of Previously Distributed Performance Allocations 70,432 60,575 $ 4,294,437 $ 4,146,707 June 30, December 31, 2023 2022 Due to Affiliates Due to Certain Non-Controlling $ 1,591,177 $ 1,602,933 Due to Non-Consolidated 191,458 157,982 Due to Certain Non-Controlling 111,548 198,875 Accrual for Potential Repayment of Previously Received Performance Allocations 198,654 158,691 $ 2,092,837 $ 2,118,481 Interests of the Founder, Senior Managing Directors, Employees and Other Related Parties The Founder, senior managing directors, employees and certain other related parties invest on a discretionary basis in the consolidated Blackstone Funds both directly and through consolidated entities. These investments generally are subject to preferential management fee and performance allocation or incentive fee arrangements. As of June 30, 2023 and December 31, 2022, such investments aggregated $1.7 billion and $1.6 billion, respectively. Their share of the Net Income Attributable to Redeemable Non-Controlling Non-Controlling $ Contingent Repayment Guarantee Blackstone and its personnel who have received Performance Allocation distributions have guaranteed payment on a several basis (subject to a cap) to the carry funds of any clawback obligation with respect to the excess Performance Allocation allocated to the general partners of such funds and indirectly received thereby to the extent that either Blackstone or its personnel fails to fulfill its clawback obligation, if any. The Accrual for Potential Repayment of Previously Received Performance Allocations represents amounts previously paid to Blackstone Holdings and non-controlling Tax Receivable Agreements Blackstone used a portion of the proceeds from the IPO and other sales of shares to purchase interests in the predecessor businesses from the predecessor owners. In addition, holders of Blackstone Holdings Partnership Units may exchange their Blackstone Holdings Partnership Units for shares of Blackstone common stock on a one-for-one Blackstone has entered into tax receivable agreements with each of the predecessor owners and additional tax receivable agreements have been executed, and will continue to be executed, with senior managing directors and others who acquire Blackstone Holdings Partnership Units. The agreements provide for the payment by the corporate taxpayer to such owners of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax that the corporate taxpayers actually realize as a result of the aforementioned increases in tax basis and of certain other tax benefits related to entering into these tax receivable agreements. For purposes of the tax receivable agreements, cash savings in income tax will be computed by comparing the actual income tax liability of the corporate taxpayers to the amount of such taxes that the corporate taxpayers would have been required to pay had there been no increase to the tax basis of the tangible and intangible assets of Blackstone Holdings as a result of the exchanges and had the corporate taxpayers not entered into the tax receivable agreements. Assuming no future material changes in the relevant tax law and that the corporate taxpayers earn sufficient taxable income to realize the full tax benefit of the increased amortization of the assets, the expected future payments under the tax receivable agreements (which are taxable to the recipients) will aggregate $1.6 billion over the next 15 years. The after-tax pre-IPO Amounts related to the deferred tax asset resulting from the increase in tax basis from the exchange of Blackstone Holdings Partnership Units to shares of Blackstone common stock, the resulting remeasurement of net deferred tax assets at the Blackstone ownership percentage at the balance sheet date, the due to affiliates for the future payments resulting from the tax receivable agreements and resulting adjustment to partners’ capital are included as Acquisition of Ownership Interests from Non-Controlling Non-Cash Other Blackstone does business with and on behalf of some of its Portfolio Companies; all such arrangements are on a negotiated basis. Additionally, please see Note 17. “Commitments and Contingencies — Contingencies — Guarantees” for information regarding guarantees provided to a lending institution for certain loans held by employees.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies	17. Commitments and Contingencies Commitments Investment Commitments Blackstone had $4.6 billion of investment commitments as of June 30, 2023 representing general partner capital funding commitments to the Blackstone Funds, limited partner capital funding to other funds and Blackstone principal investment commitments, including loan commitments. The consolidated Blackstone Funds had signed investment commitments of $97.1 million as of June 30, 2023, which includes $45.0 million of signed investment commitments for portfolio company acquisitions in the process of closing. Contingencies Guarantees Certain of Blackstone’s consolidated real estate funds guarantee payments to third parties in connection with the ongoing business activities and/or acquisitions of their Portfolio Companies. There is no direct recourse to Blackstone to fulfill such obligations. To the extent that underlying funds are required to fulfill guarantee obligations, Blackstone’s invested capital in such funds is at risk. Total investments at risk in respect of guarantees extended by consolidated real estate funds was $14.6 million as of June 30, 2023. The Blackstone Holdings Partnerships provided guarantees to a lending institution for certain loans held by employees either for investment in Blackstone Funds or for members’ capital contributions to The Blackstone Group International Partners LLP. The amount guaranteed as of June 30, 2023 was $78.1 million. Strategic Ventures In December 2022 and January 2023, Blackstone entered into long-term Litigation Blackstone may from time to time be involved in litigation and claims incidental to the conduct of its business. Blackstone’s businesses are also subject to extensive regulation, which may result in regulatory proceedings against Blackstone. Blackstone accrues a liability for legal proceedings only when those matters present loss contingencies that are both probable and reasonably estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. Although there can be no assurance of the outcome of such legal actions, based on information known by management, Blackstone does not have a potential liability related to any current legal proceeding or claim that would individually or in the aggregate materially affect its results of operations, financial position or cash flows. In December 2017, eight pension plan members of the Kentucky Retirement System (“KRS”) filed a derivative lawsuit on behalf of KRS in the Franklin County Circuit Court of the Commonwealth of Kentucky (the “Mayberry Action”). The Mayberry Action alleged various breaches of fiduciary duty and other violations of Kentucky state law in connection with KRS’s investment in three hedge funds of funds, including a fund managed by Blackstone Alternative Asset Management L.P. (“BLP”). The suit named more than 30 defendants, including, among others, The Blackstone Group L.P. (now Blackstone Inc.); BLP; Stephen A. Schwarzman, as Chairman and CEO of Blackstone; and J. Tomilson Hill, as then-CEO Over the objection of the Blackstone Defendants and others, in December 2020, the Circuit Court permitted the Attorney General of the Commonwealth of Kentucky (the “AG”) to intervene in the Mayberry Action. In December 2022, the Mayberry Action was stayed pending resolution of an interlocutory appeal in which the Blackstone Defendants and others argued that the Circuit Court did not have jurisdiction to continue the Mayberry Action after the ruling of the Kentucky Supreme Court. On April 14, 2023, the Kentucky Court of Appeals agreed with the defendants’ position, holding that the Circuit Court exceeded its authority in permitting the AG’s intervention despite the Kentucky Supreme Court’s instruction to dismiss. Accordingly, the Kentucky Court of Appeals vacated all orders entered by the Circuit Court other than the order dismissing the original derivative complaint in the Mayberry Action. On July 6, 2023, the AG filed a motion for discretionary review of the Court of Appeals’ decision by the Kentucky Supreme Court, which is pending. Additionally, around the time it moved to intervene in 2020, the AG separately filed, but did not pursue, an additional back-up In August 2022, KRS was ordered to disclose, and in September 2022, did disclose, a report prepared in 2021 by a law firm retained by KRS to conduct an investigation into the investment activities underlying the lawsuit. According to the report, the investigators “did not find any violations of fiduciary duty or illegal activity by [BLP]” related to KRS’s due diligence and retention of BLP or KRS’s continued investment with BLP. The report quotes contemporaneous communications by KRS staff during the period of the investment recognizing that BLP was exceeding KRS’s returns benchmark, that BLP was providing KRS with “far fewer negative months than any liquid market comparable,” and that BLP “[h]as killed it.” In January 2021, certain former plaintiffs in the Mayberry Action filed a separate action (“Taylor I”), against the Blackstone Defendants and other defendants named in the Mayberry Action, asserting allegations substantially similar to those made in the Mayberry Action, and in July 2021 they amended their complaint to add class action allegations. Defendants removed Taylor I to the U.S. District Court for the Eastern District of Kentucky, and in March 2022, the District Court stayed Taylor I pending the resolution of the AG’s suit in the Mayberry Action. In August 2021, a group of KRS members—including those that filed Taylor I—filed a new action in Franklin County Circuit Court (“Taylor II”), against the Blackstone Defendants, other defendants named in the Mayberry Action, and other KRS officials. The filed complaint is substantially similar to that filed in Taylor I and the Mayberry Action. Motions to dismiss are pending. The Blackstone Defendants believe they have strong defenses on statute of limitations grounds, among others, to both Taylor I and Taylor II. In May 2022, the presiding judge recused himself from the Mayberry Action and Taylor II and the cases were reassigned to another judge in the Franklin County Circuit Court. In April 2021, the AG filed an action (the “Declaratory Judgment Action”), against BLP and the other fund manager defendants from the Mayberry Action in Franklin County Circuit Court. The action sought to have certain provisions in the subscription agreements between KRS and the fund managers declared to be in violation of the Kentucky Constitution. In March 2022, the Circuit Court granted summary judgment to the AG. BLP’s appeal is currently pending. Blackstone continues to believe that the preceding lawsuits against Blackstone are totally without merit and intends to defend them vigorously. In July 2021, BLP filed a breach of contract action against defendants affiliated with KRS alleging that the Mayberry Action and the Declaratory Judgment Action breach the parties’ subscription agreements governing KRS’s investment with BLP. The action seeks damages, including legal fees and expenses incurred in defending against the above actions. In April 2022, the Circuit Court dismissed BLP’s complaint without prejudice to refiling, on the grounds that the action was not yet ripe for adjudication. On May 19, 2023, the Court of Appeals affirmed the Circuit Court’s dismissal, without prejudice, of BLP’s complaint on ripeness grounds In October 2022, as part of a sweep of private equity and other investment advisory firms, the SEC sent us a request for information relating to the retention of certain types of electronic business communications, including text messages, that may be required to be preserved under certain SEC rules. We are cooperating with the SEC’s inquiry. Contingent Obligations (Clawback) Performance Allocations are subject to clawback to the extent that the Performance Allocations received to date with respect to a fund exceeds the amount due to Blackstone based on cumulative results of that fund. The actual clawback liability, however, generally does not become realized until the end of a fund’s life except for certain Blackstone real estate funds, multi-asset class investment funds and credit-focused funds, which may have an interim clawback liability. The lives of the carry funds, including available contemplated extensions, for which a liability for potential clawback obligations has been recorded for financial reporting purposes, are currently anticipated to expire at various points through 2032. Further extensions of such terms may be implemented under given circumstances. For financial reporting purposes, when applicable, the general partners record a liability for potential clawback obligations to the limited partners of some of the carry funds due to changes in the unrealized value of a fund’s remaining investments and where the fund’s general partner has previously received Performance Allocation distributions with respect to such fund’s realized investments. The following table presents the clawback obligations by segment: June 30, 2023 December 31, 2022 Current and Current and Blackstone Former Blackstone Former Segment Holdings Personnel (a) Total (b) Holdings Personnel (a) Total (b) Real Estate $ 82,324 $ 53,012 $ 135,336 $ 78,644 $ 51,771 $ 130,415 Private Equity 28,558 17,168 45,726 19,279 8,569 27,848 Credit & Insurance 187 267 454 223 205 428 Hedge Fund Solutions 18,040 (902 ) 17,138 — — — $ 129,109 $ 69,545 $ 198,654 $ 98,146 $ 60,545 $ 158,691 (a) The split of clawback between Blackstone Holdings and Current and Former Personnel is based on the performance of individual investments held by a fund rather than on a fund by fund basis. (b) Total is a component of Due to Affiliates. See Note 16. “Related Party Transactions — Affiliate Receivables and Payables — Due to Affiliates.” During the six months ended June 30, 2023, the Blackstone general partners paid an interim cash clawback obligation of $6.5 million, primarily related to a Real Estate segment fund, of which $4.2 million was paid by Blackstone Holdings and $2.3 million by current and former Blackstone personnel. For Private Equity, Real Estate, and certain Credit & Insurance Funds, a portion of the Performance Allocations paid to current and former Blackstone personnel is held in segregated accounts in the event of a cash clawback obligation. These segregated accounts are not included in the Condensed Consolidated Financial Statements of Blackstone, except to the extent a portion of the assets held in the segregated accounts may be allocated to a consolidated Blackstone fund of hedge funds. At June 30, 2023, $1.1 billion was held in segregated accounts for the purpose of meeting any clawback obligations of current and former personnel if such payments are required. In the Credit & Insurance segment, payment of Performance Allocations to Blackstone by the majority of the stressed/distressed, mezzanine and credit alpha strategies funds are substantially deferred under the terms of the partnership agreements. This deferral mitigates the need to hold funds in segregated accounts in the event of a cash clawback obligation. If, at June 30, 2023, all of the investments held by Blackstone’s carry funds were deemed worthless, a possibility that management views as remote, the amount of Performance Allocations subject to potential clawback would be $6.4 billion, on an after-tax

Segment Reporting

Segment Reporting	6 Months Ended
Segment Reporting	Jun. 30, 2023
Segment Reporting	18. Segment Reporting Blackstone conducts its alternative asset management businesses through four segments: • Real Estate – Blackstone’s Real Estate segment primarily comprises its management of opportunistic real estate funds, Core+ real estate funds, and real estate debt and credit strategies. • Private Equity – Blackstone’s Private Equity segment includes its management of flagship corporate private equity funds, sector and geographically-focused corporate private equity funds, core private equity funds, an opportunistic investment platform, a secondary fund of funds business, infrastructure-focused funds, a life sciences investment platform, a growth equity investment platform, a multi-asset investment program for eligible high net worth investors and a capital markets services business. • Credit & Insurance – Blackstone’s Credit & Insurance segment consists principally of Blackstone Credit, which is organized into two overarching strategies: private credit (which includes mezzanine and direct lending funds, private placement strategies, stressed/distressed strategies and energy strategies) and liquid credit (which consists of CLOs, closed-ended funds, open-ended funds and separately managed accounts). In addition, the segment includes an insurer-focused platform, an asset-based finance platform and publicly traded master limited partnership investment platform. • Hedge Fund Solutions – The largest component of Blackstone’s Hedge Fund Solutions segment is Blackstone Alternative Asset Management, which manages a broad range of commingled and customized hedge fund of fund solutions. The segment also includes a GP Stakes business and investment platforms that invest directly, as well as investment platforms that seed new hedge fund businesses and create alternative solutions through daily liquidity products. These business segments are differentiated by their various investment strategies. Each of the segments primarily earns its income from management fees and investment returns on assets under management. Segment Distributable Earnings is Blackstone’s segment profitability measure used to make operating decisions and assess performance across Blackstone’s four segments. Segment Distributable Earnings represents the net realized earnings of Blackstone’s segments and is the sum of Fee Related Earnings and Net Realizations for each segment. Blackstone’s segments are presented on a basis that deconsolidates Blackstone Funds, eliminates non-controlling For segment reporting purposes, Segment Distributable Earnings is presented along with its major components, Fee Related Earnings and Net Realizations. Fee Related Earnings is used to assess Blackstone’s ability to generate profits from revenues that are measured and received on a recurring basis and not subject to future realization events. Net Realizations is the sum of Realized Principal Investment Income and Realized Performance Revenues less Realized Performance Compensation. Performance Allocations and Incentive Fees are presented together and referred to collectively as Performance Revenues or Performance Compensation. Segment Presentation The following tables present the financial data for Blackstone’s four segments for the three months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 709,977 $ 443,012 $ 335,308 $ 132,312 $ 1,620,609 Transaction, Advisory and Other Fees, Net 27,066 48,825 15,002 1,842 92,735 Management Fee Offsets (8,307 ) (766 ) (1,056 ) (29 ) (10,158 ) Total Management and Advisory Fees, Net 728,736 491,071 349,254 134,125 1,703,186 Fee Related Performance Revenues 131,299 — 135,439 — 266,738 Fee Related Compensation (199,006 ) (155,680 ) (168,234 ) (45,888 ) (568,808 ) Other Operating Expenses (71,949 ) (74,403 ) (81,375 ) (29,639 ) (257,366 ) Fee Related Earnings 589,080 260,988 235,084 58,598 1,143,750 Realized Performance Revenues 119,721 147,176 42,344 79,182 388,423 Realized Performance Compensation (69,593 ) (62,641 ) (17,571 ) (28,565 ) (178,370 ) Realized Principal Investment Income (Loss) (70 ) 3,967 (19,356 ) 7,998 (7,461 ) Total Net Realizations 50,058 88,502 5,417 58,615 202,592 Total Segment Distributable Earnings $ 639,138 $ 349,490 $ 240,501 $ 117,213 $ 1,346,342 Three Months Ended June 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 611,751 $ 433,459 $ 306,589 $ 145,077 $ 1,496,876 Transaction, Advisory and Other Fees, Net 46,974 27,551 7,117 3,450 85,092 Management Fee Offsets (689 ) (23,157 ) (1,165 ) (40 ) (25,051 ) Total Management and Advisory Fees, Net 658,036 437,853 312,541 148,487 1,556,917 Fee Related Performance Revenues 265,507 — 81,086 — 346,593 Fee Related Compensation (273,893 ) (152,622 ) (137,035 ) (57,863 ) (621,413 ) Other Operating Expenses (88,329 ) (83,233 ) (63,882 ) (26,066 ) (261,510 ) Fee Related Earnings 561,321 201,998 192,710 64,558 1,020,587 Realized Performance Revenues 1,997,720 122,884 78,973 7,197 2,206,774 Realized Performance Compensation (831,402 ) (57,380 ) (36,109 ) (2,083 ) (926,974 ) Realized Principal Investment Income (Loss) 29,116 8,904 7,019 (1,530 ) 43,509 Total Net Realizations 1,195,434 74,408 49,883 3,584 1,323,309 Total Segment Distributable Earnings $ 1,756,755 $ 276,406 $ 242,593 $ 68,142 $ 2,343,896 The following tables present the financial data for Blackstone’s four segments as of June 30, 2023 and for the six months ended June 30, 2023 and 2022: June 30, 2023 and the Six Months Then Ended Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 1,415,364 $ 894,622 $ 662,087 $ 268,083 $ 3,240,156 Transaction, Advisory and Other Fees, Net 47,627 63,609 23,453 3,756 138,445 Management Fee Offsets (18,764 ) (2,076 ) (2,157 ) (31 ) (23,028 ) Total Management and Advisory Fees, Net 1,444,227 956,155 683,383 271,808 3,355,573 Fee Related Performance Revenues 152,047 — 262,935 — 414,982 Fee Related Compensation (336,616 ) (317,306 ) (332,233 ) (91,624 ) (1,077,779 ) Other Operating Expenses (146,130 ) (151,166 ) (155,613 ) (56,105 ) (509,014 ) Fee Related Earnings 1,113,528 487,683 458,472 124,079 2,183,762 Realized Performance Revenues 130,817 646,498 167,525 85,109 1,029,949 Realized Performance Compensation (72,758 ) (295,575 ) (74,343 ) (31,718 ) (474,394 ) Realized Principal Investment Income (Loss) 2,154 36,856 (13,347 ) 10,567 36,230 Total Net Realizations 60,213 387,779 79,835 63,958 591,785 Total Segment Distributable Earnings $ 1,173,741 $ 875,462 $ 538,307 $ 188,037 $ 2,775,547 Segment Assets $ 14,049,551 $ 13,586,079 $ 6,352,586 $ 2,619,493 $ 36,607,709 Six Months Ended June 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 1,191,937 $ 854,931 $ 599,034 $ 290,123 $ 2,936,025 Transaction, Advisory and Other Fees, Net 87,459 40,209 16,514 4,919 149,101 Management Fee Offsets (1,649 ) (50,299 ) (2,784 ) (109 ) (54,841 ) Total Management and Advisory Fees, Net 1,277,747 844,841 612,764 294,933 3,030,285 Fee Related Performance Revenues 757,024 (648 ) 148,282 — 904,658 Fee Related Compensation (618,735 ) (303,672 ) (264,379 ) (105,098 ) (1,291,884 ) Other Operating Expenses (154,332 ) (150,977 ) (121,049 ) (49,250 ) (475,608 ) Fee Related Earnings 1,261,704 389,544 375,618 140,585 2,167,451 Realized Performance Revenues 2,800,636 573,122 109,716 36,110 3,519,584 Realized Performance Compensation (1,121,433 ) (264,083 ) (49,495 ) (11,083 ) (1,446,094 ) Realized Principal Investment Income 83,091 74,342 29,800 13,371 200,604 Total Net Realizations 1,762,294 383,381 90,021 38,398 2,274,094 Total Segment Distributable Earnings $ 3,023,998 $ 772,925 $ 465,639 $ 178,983 $ 4,441,545 Reconciliations of Total Segment Amounts The following tables reconcile the Total Segment Revenues, Expenses and Distributable Earnings to their equivalent GAAP measure for the three and six months ended June 30, 2023 and 2022 along with Total Assets as of June 30, 2023: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Revenues Total GAAP Revenues $ 2,814,691 $ 629,220 $ 4,196,536 $ 5,755,500 Less: Unrealized Performance Revenues (a) (114,379 ) 3,467,668 644,937 2,174,618 Less: Unrealized Principal Investment (Income) Loss (b) (160,702 ) 203,288 318,418 176,530 Less: Interest and Dividend Revenue (c) (153,240 ) (66,143 ) (248,341 ) (120,628 ) Less: Other Revenue (d) 31,718 (155,704 ) 45,898 (228,523 ) Impact of Consolidation (e) (60,408 ) 75,099 (119,395 ) (102,497 ) Transaction-Related Charges (f) (7,461 ) (237 ) (2,673 ) (1,450 ) Intersegment Eliminations 667 602 1,354 1,581 Total Segment Revenue (g) $ 2,350,886 $ 4,153,793 $ 4,836,734 $ 7,655,131 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Expenses Total GAAP Expenses $ 1,475,310 $ 744,113 $ 2,664,655 $ 2,941,135 Less: Unrealized Performance Allocations Compensation (h) (54,155 ) 1,386,543 259,094 914,259 Less: Equity-Based Compensation (i) (249,755 ) (195,644 ) (517,889 ) (397,189 ) Less: Interest Expense (j) (107,130 ) (69,425 ) (211,339 ) (136,027 ) Impact of Consolidation (e) (40,879 ) (11,394 ) (97,553 ) (19,200 ) Amortization of Intangibles (k) (7,412 ) (17,044 ) (18,753 ) (34,088 ) Transaction-Related Charges (f) (9,689 ) (25,378 ) (13,522 ) (51,924 ) Administrative Fee Adjustment (l) (2,413 ) (2,476 ) (4,860 ) (4,961 ) Intersegment Eliminations 667 602 1,354 1,581 Total Segment Expenses (m) $ 1,004,544 $ 1,809,897 $ 2,061,187 $ 3,213,586 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Other Income Total GAAP Other Income (Loss) $ 87,595 $ (104,339 ) $ 153,451 $ (52,702 ) Impact of Consolidation (e) (87,595 ) 104,339 (153,451 ) 52,702 Total Segment Other Income $ — $ — $ — $ — Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Income (Loss) Before Provision for Taxes Total GAAP Income (Loss) Before Provision for Taxes $ 1,426,976 $ (219,232 ) $ 1,685,332 $ 2,761,663 Less: Unrealized Performance Revenues (a) (114,379 ) 3,467,668 644,937 2,174,618 Less: Unrealized Principal Investment (Income) Loss (b) (160,702 ) 203,288 318,418 176,530 Less: Interest and Dividend Revenue (c) (153,240 ) (66,143 ) (248,341 ) (120,628 ) Less: Other Revenue (d) 31,718 (155,704 ) 45,898 (228,523 ) Plus: Unrealized Performance Allocations Compensation (h) 54,155 (1,386,543 ) (259,094 ) (914,259 ) Plus: Equity-Based Compensation (i) 249,755 195,644 517,889 397,189 Plus: Interest Expense (j) 107,130 69,425 211,339 136,027 Impact of Consolidation (e) (107,124 ) 190,832 (175,293 ) (30,595 ) Amortization of Intangibles (k) 7,412 17,044 18,753 34,088 Transaction-Related Charges (f) 2,228 25,141 10,849 50,474 Administrative Fee Adjustment (l) 2,413 2,476 4,860 4,961 Total Segment Distributable Earnings $ 1,346,342 $ 2,343,896 $ 2,775,547 $ 4,441,545 As of June 30, 2023 Total Assets Total GAAP Assets $ 41,582,784 Impact of Consolidation (e) (4,975,075 ) Total Segment Assets $ 36,607,709 Segment basis presents revenues and expenses on a basis that deconsolidates the investment funds Blackstone manages and excludes the amortization of intangibles and Transaction-Related Charges. (a) This adjustment removes Unrealized Performance Revenues on a segment basis. (b) This adjustment removes Unrealized Principal Investment Income (Loss) on a segment basis. (c) This adjustment removes Interest and Dividend Revenue on a segment basis. (d) This adjustment removes Other Revenue on a segment basis. For the three months ended June 30, 2023 and 2022, Other Revenue on a GAAP basis was $(31.7) million and $155.6 million, and included $(32.0) million and $155.5 million of foreign exchange gains (losses), respectively. For the six months ended June 30, 2023 and 2022, Other Revenue on a GAAP basis was $(45.8) million and $228.5 million, and included $(46.7) million and $228.2 million of foreign exchange gains (losses), respectively. (e) This adjustment reverses the effect of consolidating Blackstone Funds, which are excluded from Blackstone’s segment presentation. This adjustment includes the elimination of Blackstone’s interest in these funds, the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling (f) This adjustment removes Transaction-Related Charges, which are excluded from Blackstone’s segment presentation. Transaction-Related Charges arise from corporate actions including acquisitions, divestitures, and Blackstone’s initial public offering. They consist primarily of equity-based compensation charges, gains and losses on contingent consideration arrangements, changes in the balance of the Tax Receivable Agreement resulting from a change in tax law or similar event, transaction costs and any gains or losses associated with these corporate actions. (g) Total Segment Revenues is comprised of the following: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Total Segment Management and Advisory Fees, Net $ 1,703,186 $ 1,556,917 $ 3,355,573 $ 3,030,285 Total Segment Fee Related Performance Revenues 266,738 346,593 414,982 904,658 Total Segment Realized Performance Revenues 388,423 2,206,774 1,029,949 3,519,584 Total Segment Realized Principal Investment Income (Loss) (7,461 ) 43,509 36,230 200,604 Total Segment Revenues $ 2,350,886 $ 4,153,793 $ 4,836,734 $ 7,655,131 (h) This adjustment removes Unrealized Performance Allocations Compensation. (i) This adjustment removes Equity-Based Compensation on a segment basis. (j) This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement. (k) This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation. (l) This adjustment adds an amount equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units. The administrative fee is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation. (m) Total Segment Expenses is comprised of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Total Segment Fee Related Compensation $ 568,808 $ 621,413 $ 1,077,779 $ 1,291,884 Total Segment Realized Performance Compensation 178,370 926,974 474,394 1,446,094 Total Segment Other Operating Expenses 257,366 261,510 509,014 475,608 Total Segment Expenses $ 1,004,544 $ 1,809,897 $ 2,061,187 $ 3,213,586 Reconciliations of Total Segment Components The following tables reconcile the components of Total Segments to their equivalent GAAP measures, reported on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Management and Advisory Fees, Net GAAP $ 1,709,370 $ 1,561,187 $ 3,367,685 $ 3,037,123 Segment Adjustment (a) (6,184 ) (4,270 ) (12,112 ) (6,838 ) Total Segment $ 1,703,186 $ 1,556,917 $ 3,355,573 $ 3,030,285 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 GAAP Realized Performance Revenues to Total Segment Fee Related Performance Revenues GAAP Incentive Fees $ 153,077 $ 99,598 $ 295,953 $ 204,087 Investment Income - Realized Performance Allocations 502,084 2,453,769 1,148,978 4,220,155 GAAP 655,161 2,553,367 1,444,931 4,424,242 Total Segment Less: Realized Performance Revenues (388,423 ) (2,206,774 ) (1,029,949 ) (3,519,584 ) Total Segment $ 266,738 $ 346,593 $ 414,982 $ 904,658 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 GAAP Compensation to Total Segment Fee Related Compensation GAAP Compensation $ 737,017 $ 686,012 $ 1,453,302 $ 1,342,517 Incentive Fee Compensation 64,227 45,363 127,508 86,382 Realized Performance Allocations Compensation 205,196 1,035,916 501,990 1,753,517 GAAP 1,006,440 1,767,291 2,082,800 3,182,416 Total Segment Less: Realized Performance Compensation (178,370 ) (926,974 ) (474,394 ) (1,446,094 ) Less: Equity-Based Compensation - Fee Related Compensation (246,445 ) (191,769 ) (511,599 ) (392,156 ) Less: Equity-Based Compensation - Performance Compensation (3,310 ) (3,875 ) (6,290 ) (5,033 ) Segment Adjustment (b) (9,507 ) (23,260 ) (12,738 ) (47,249 ) Total Segment $ 568,808 $ 621,413 $ 1,077,779 $ 1,291,884 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 GAAP General, Administrative and Other to Total Segment Other Operating Expenses GAAP $ 275,034 $ 289,288 $ 548,428 $ 529,962 Segment Adjustment (c) (17,668 ) (27,778 ) (39,414 ) (54,354 ) Total Segment $ 257,366 $ 261,510 $ 509,014 $ 475,608 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Performance Revenues GAAP Incentive Fees $ 153,077 $ 99,598 $ 295,953 $ 204,087 Investment Income - Realized Performance Allocations 502,084 2,453,769 1,148,978 4,220,155 GAAP 655,161 2,553,367 1,444,931 4,424,242 Total Segment Less: Fee Related Performance Revenues (266,738 ) (346,593 ) (414,982 ) (904,658 ) Total Segment $ 388,423 $ 2,206,774 $ 1,029,949 $ 3,519,584 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Performance Compensation GAAP Incentive Fee Compensation $ 64,227 $ 45,363 $ 127,508 $ 86,382 Realized Performance Allocation Compensation 205,196 1,035,916 501,990 1,753,517 GAAP 269,423 1,081,279 629,498 1,839,899 Total Segment Less: Fee Related Performance Compensation (d) (87,743 ) (150,430 ) (148,814 ) (388,772 ) Less: Equity-Based Compensation - Performance Compensation (3,310 ) (3,875 ) (6,290 ) (5,033 ) Total Segment $ 178,370 $ 926,974 $ 474,394 $ 1,446,094 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Principal Investment Income GAAP $ 54,835 $ 265,161 $ 162,893 $ 550,265 Segment Adjustment (e) (62,296 ) (221,652 ) (126,663 ) (349,661 ) Total Segment $ (7,461 ) $ 43,509 $ 36,230 $ 200,604 Segment basis presents revenues and expenses on a basis that deconsolidates the investment funds Blackstone manages and excludes the amortization of intangibles, the expense of equity-based awards and Transaction-Related Charges. (a) Represents (1) the add back of net management fees earned from consolidated Blackstone Funds which have been eliminated in consolidation, and (2) the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures. (b) Represents the removal of Transaction-Related Charges that are not recorded in the Total Segment measures. (c) Represents the (1) removal of amortization of transaction-related intangibles, (2) removal of certain expenses reimbursed by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and (3) a reduction equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units which is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation. (d) Fee related performance compensation may include equity-based compensation based on fee related performance revenues (e) Represents (1) the add back of Principal Investment Income, including general partner income, earned from consolidated Blackstone Funds which have been eliminated in consolidation, and (2) the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2023
Subsequent Events	19. Subsequent Events There have been no events since June 30, 2023 that require recognition or disclosure in the Condensed Consolidated Financial Statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2023
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Blackstone have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q. Form 10-K The condensed consolidated financial statements include the accounts of Blackstone, its wholly owned or majority-owned subsidiaries, the consolidated entities which are considered to be variable interest entities and for which Blackstone is considered the primary beneficiary, and certain partnerships or similar entities which are not considered variable interest entities but in which the general partner is determined to have control. All intercompany balances and transactions have been eliminated in consolidation.
Consolidation	Consolidation Blackstone consolidates all entities that it controls through a majority voting interest or otherwise, including those Blackstone Funds in which the general partner has a controlling financial interest. Blackstone has a controlling financial interest in Blackstone Holdings because the limited partners do not have the right to dissolve the partnerships or have substantive kick-out non-controlling In addition, Blackstone consolidates all variable interest entities (“VIE”) for which it is the primary beneficiary. An enterprise is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (a) whether an entity in which Blackstone holds a variable interest is a VIE and (b) whether Blackstone’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests, would give it a controlling financial interest. Performance of that analysis requires the exercise of judgment. Blackstone determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a variable interest entity and continuously reconsiders that conclusion. In determining whether Blackstone is the primary beneficiary, Blackstone evaluates its control rights as well as economic interests in the entity held either directly or indirectly by Blackstone. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that Blackstone is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by Blackstone, affiliates of Blackstone or third parties) or amendments to the governing documents of the respective Blackstone Funds could affect an entity’s status as a VIE or the determination of the primary beneficiary. At each reporting date, Blackstone assesses whether it is the primary beneficiary and will consolidate or deconsolidate accordingly. Assets of consolidated VIEs that can only be used to settle obligations of the consolidated VIE and liabilities of a consolidated VIE for which creditors (or beneficial interest holders) do not have recourse to the general credit of Blackstone are presented in a separate section in the Condensed Consolidated Statements of Financial Condition. Blackstone’s other disclosures regarding VIEs are discussed in Note 9. “Variable Interest Entities.”
Revenue Recognition	Revenue Recognition Revenues primarily consist of management and advisory fees, incentive fees, investment income, interest and dividend revenue and other. Management and advisory fees and incentive fees are accounted for as contracts with customers. Under the guidance for contracts with customers, an entity is required to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. See Note 18. “Segment Reporting” for a disaggregated presentation of revenues from contracts with customers. Management and Advisory Fees, Net Blackstone earns base management fees from its customers, at a fixed percentage of a calculation base which is typically assets under management, net asset value, gross asset value, total assets, committed capital or invested capital. Blackstone identifies its customers on a fund by fund basis in accordance with the terms and circumstances of the individual fund. Generally, the customer is identified as the investors in its managed funds and investment vehicles, but for certain widely held funds or vehicles, the fund or vehicle itself may be identified as the customer. These customer contracts require Blackstone to provide investment management services, which represents a performance obligation that Blackstone satisfies over time. Management fees are a form of variable consideration because the fees Blackstone is entitled to vary based on fluctuations in the basis for the management fee. The amount recorded as revenue is generally determined at the end of the period because these management fees are payable on a regular basis (typically quarterly) and are not subject to clawback once paid. Transaction, advisory and other fees are principally fees charged to the investors of funds indirectly through the managed funds and portfolio companies. The investment advisory agreements generally require that the investment adviser reduce the amount of management fees payable by the investors to Blackstone (“management fee reductions”) by an amount equal to a portion of the transaction and other fees paid to Blackstone by the portfolio companies. The amount of the reduction varies by fund, the type of fee paid by the portfolio company and the previously incurred expenses of the fund. These fees and associated management fee reductions are a component of the transaction price for Blackstone’s performance obligation to provide investment management services to the investors of funds and are recognized as changes to the transaction price in the period in which they are charged and the services are performed. Management fee offsets are reductions to management fees payable by the investors of the Blackstone Funds, which are based on the amount such investors reimburse the Blackstone Funds or Blackstone primarily for placement fees. Providing investment management services requires Blackstone to arrange for services on behalf of its customers. In those situations where Blackstone is acting as an agent on behalf of the investors of funds, it presents the cost of services as net against management fee revenue. In all other situations, Blackstone is primarily responsible for fulfilling the services and is therefore acting as a principal for those arrangements. As a result, the cost of those services is presented as Compensation or General, Administrative and Other expense, as appropriate, with any reimbursement from the investors of the funds recorded as Management and Advisory Fees, Net. In cases where the investors of the funds are determined to be the customer in an arrangement, placement fees may be capitalized as a cost to acquire a customer contract. Capitalized placement fees are amortized over the life of the customer contract, are recorded within Other Assets in the Consolidated Statements of Financial Condition and amortization is recorded within General, Administrative and Other within the Consolidated Statements of Operations. Accrued but unpaid Management and Advisory Fees, net of management fee reductions and management fee offsets, as of the reporting date are included in Accounts Receivable or Due from Affiliates in the Condensed Consolidated Statements of Financial Condition. Incentive Fees Investment Income (Loss) In carry fund structures and certain open-ended structures, Blackstone, through its subsidiaries, invests alongside its limited partners in a partnership and is entitled to its pro-rata “pro-rata pro-rata Performance Allocations in carry fund structures are made to the general partner based on cumulative fund performance to date, subject to a preferred return to limited partners. Performance Allocations in open-ended structures are based on vehicle performance over a period of time, subject to a high water mark and preferred return to investors. At the end of each reporting period, Blackstone calculates the balance of accrued Performance Allocations (“Accrued Performance Allocations”) that would be due to Blackstone for each fund, pursuant to the fund agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as Accrued Performance Allocations to reflect either (a) positive performance resulting in an increase in the Accrued Performance Allocation to the general partner or (b) negative performance that would cause the amount due to Blackstone to be less than the amount previously recognized as revenue, resulting in a negative adjustment to the Accrued Performance Allocation to the general partner. In each scenario, it is necessary to calculate the Accrued Performance Allocation on cumulative results compared to the Accrued Performance Allocation recorded to date and make the required positive or negative adjustments. Blackstone ceases to record negative Performance Allocations once previously Accrued Performance Allocations for such fund have been fully reversed. Blackstone is not obligated to pay guaranteed returns or hurdles, and therefore, cannot have negative Performance Allocations over the life of a fund. Accrued Performance Allocations as of the reporting date are reflected in Investments in the Condensed Consolidated Statements of Financial Condition. Performance Allocations in carry fund structures are realized when an underlying investment is profitably disposed of and the fund’s cumulative returns are in excess of the preferred return or, in limited instances, after certain thresholds for return of capital are met. Performance Allocations in carry fund structures are subject to clawback to the extent that the Performance Allocation received to date exceeds the amount due to Blackstone based on cumulative results. As such, the accrual for potential repayment of previously received Performance Allocations, which is a component of Due to Affiliates, represents all amounts previously distributed to Blackstone Holdings and non-controlling Principal Investments include the unrealized and realized gains and losses on Blackstone’s principal investments, including its investments in Blackstone Funds that are not consolidated and receive pro-rata Interest and Dividend Revenue Other Revenue lars.
Fair Value of Financial Instruments	Fair Value of Financial Instruments GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: ● Level I – Quoted prices are available in active markets for identical financial instruments as of the reporting date. The types of financial instruments in Level I include listed equities, listed derivatives and mutual funds with quoted prices. Blackstone does not adjust the quoted price for these investments, even in situations where Blackstone holds a large position and a sale could reasonably impact the quoted price. ● Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Financial instruments which are generally included in this category include corporate bonds and loans, including corporate bonds and loans held within consolidated collateralized loan obligations (“CLO”) vehicles, government and agency securities, less liquid and restricted equity securities, and certain over-the-counter ● Level III – Pricing inputs are unobservable for the financial instruments and includes situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category generally include general and limited partnership interests in private equity and real estate funds, credit-focused funds, distressed debt and non-investment non-consolidated over-the-counter In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest level of input that is significant to the fair value measurement. Blackstone’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. Level II Valuation Techniques Financial instruments classified within Level II of the fair value hierarchy comprise debt instruments, debt securities sold, not yet purchased and certain equity securities and derivative instruments valued using observable inputs are also classified as Level II. The valuation techniques used to value financial instruments classified within Level II of the fair value hierarchy are as follows: ● Debt Instruments and Equity Securities are valued on the basis of prices from an orderly transaction between market participants including those provided by reputable dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices and market transactions in comparable investments and various relationships between investments. The valuation of certain equity securities is based on an observable price for an identical security adjusted for the effect of a restriction. ● Freestanding Derivatives are valued using contractual cash flows and observable inputs comprising yield curves, foreign currency rates and credit spreads. ● Notes issued by consolidated CLO vehicles are measured based on the more observable fair value of CLO assets less (a) the fair value of any beneficial interests held by Blackstone, and (b) the carrying value of any beneficial interests that represent compensation for services. Level III Valuation Techniques In the absence of observable market prices, Blackstone values its investments using valuation methodologies applied on a consistent basis. For some investments little market activity may exist; management’s determination of fair value is then based on the best information available in the circumstances, and may incorporate management’s own assumptions and involves a significant degree of judgment, taking into consideration a combination of internal and external factors, including the appropriate risk adjustments for non-performance non-consolidated Real Estate Investments Private Equity Investments Credit-Focused Investments The market approach is generally used to determine the enterprise value of the issuer of a credit investment, and considers valuation multiples of comparable companies or transactions. The resulting enterprise value will dictate whether or not such credit investment has adequate enterprise value coverage. In cases of distressed credit instruments, the market approach may be used to estimate a recovery value in the event of a restructuring.
Investments, at Fair Value	Investments, at Fair Value Generally, the Blackstone Funds are accounted for as investment companies under the American Institute of Certified Public Accountants Audit and Accounting Guide, Investment Companies Blackstone’s principal investments are presented at fair value with unrealized appreciation or depreciation and realized gains and losses recognized in the Condensed Consolidated Statements of Operations within Investment Income (Loss). For certain instruments, Blackstone has elected the fair value option. Such election is irrevocable and is applied on an investment by investment basis at initial recognition or other eligible election dates. Blackstone has applied the fair value option for certain loans and receivables, unfunded loan commitments and certain investments in private debt securities that otherwise would not have been carried at fair value with gains and losses recorded in net income. The methodology for measuring the fair value of such investments is consistent with the methodology applied to private equity, real estate, credit-focused and funds of hedge funds investments. Changes in the fair value of such instruments are recognized in Investment Income (Loss) in the Condensed Consolidated Statements of Operations. Interest income on interest bearing loans and receivables and debt securities on which the fair value option has been elected is based on stated coupon rates adjusted for the accretion of purchase discounts and the amortization of purchase premiums. This interest income is recorded within Interest and Dividend Revenue. Blackstone has elected the fair value option for the assets of consolidated CLO vehicles. As permitted under GAAP, Blackstone measures notes issued by consolidated CLO vehicles as (a) the sum of the fair value of the consolidated CLO assets and the carrying value of any non-financial Non-Controlling Blackstone has elected the fair value option for certain proprietary investments that would otherwise have been accounted for using the equity method of accounting. The fair value of such investments is based on quoted prices in an active market or using the discounted cash flow method. Changes in fair value are recognized in Investment Income (Loss) in the Condensed Consolidated Statements of Operations. Further disclosure on instruments for which the fair value option has been elected is presented in Note 7. “Fair Value Option.” Blackstone may elect to measure certain proprietary investments in equity securities without readily determinable fair values under the measurement alternative, which reflects cost less impairment, with adjustments in value resulting from observable price changes arising from orderly transactions of the same or a similar security from the same issuer. If the measurement alternative election is not made, the equity security is measured at fair value. The measurement alternative election is made on an instrument by instrument basis. The election is reassessed each reporting period to determine whether investments under the measurement alternative have readily determinable fair values, in which case they would no longer be eligible for this election. The investments of consolidated Blackstone Funds in funds of hedge funds (“Investee Funds”) are valued at net asset value (“NAV”) per share of the Investee Fund. In limited circumstances, Blackstone may determine, based on its own due diligence and investment procedures, that NAV per share does not represent fair value. In such circumstances, Blackstone will estimate the fair value in good faith and in a manner that it reasonably chooses, in accordance with the requirements of GAAP. Certain investments of Blackstone and of the consolidated Blackstone funds of hedge funds and credit-focused funds measure their investments in underlying funds at fair value using NAV per share without adjustment. The terms of the investee’s investment generally provide for minimum holding periods or lock-ups, Security and loan transactions are recorded on a trade date basis.
Equity Method Investments	Equity Method Investments Investments in which Blackstone is deemed to exert significant influence, but not control, are accounted for using the equity method of accounting except in cases where the fair value option has been elected. Blackstone has significant influence over all Blackstone Funds in which it invests but does not consolidate. Therefore, its investments in such Blackstone Funds, which generally include both a proportionate and disproportionate allocation of the profits and losses (as is the case with carry funds that include a Performance Allocation), are accounted for under the equity method. Under the equity method of accounting, Blackstone’s share of earnings (losses) from equity method investments is included in Investment Income (Loss) in the Condensed Consolidated Statements of Operations. In cases where Blackstone’s equity method investments provide for a disproportionate allocation of the profits and losses (as is the case with carry funds that include a Performance Allocation), Blackstone’s share of earnings (losses) from equity method investments is determined using a balance sheet approach referred to as the hypothetical liquidation at book value (“HLBV”) method. Under the HLBV method, at the end of each reporting period, Blackstone calculates the Accrued Performance Allocations that would be due to Blackstone for each fund pursuant to the fund agreements as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as Accrued Performance Allocations to reflect either (a) positive performance resulting in an increase in the Accrued Performance Allocation to the general partner, or (b) negative performance that would cause the amount due to Blackstone to be less than the amount previously recognized as revenue, resulting in a negative adjustment to the Accrued Performance Allocation to the general partner. In each scenario, it is necessary to calculate the Accrued Performance Allocation on cumulative results compared to the Accrued Performance Allocation recorded to date and make the required positive or negative adjustments. Blackstone ceases to record negative Performance Allocations once previously Accrued Performance Allocations for such fund have been fully reversed. Blackstone is not obligated to pay guaranteed returns or hurdles, and therefore, cannot have negative Performance Allocations over the life of a fund. The carrying amounts of equity method investments are reflected in Investments in the Condensed Consolidated Statements of Financial Condition. Strategic Partners’ results presented in Blackstone’s condensed consolidated financial statements are reported on a three month lag from Strategic Partners’ fund financial statements, which report the performance of underlying investments generally on a same quarter basis, if available. Therefore, Strategic Partners’ results presented herein do not reflect the impact of economic and market activity in the current quarter. Current quarter market activity of Strategic Partners’ underlying investments is expected to affect Blackstone’s reported results in upcoming periods.
Compensation and Benefits	Compensation and Benefits Compensation and Benefits Compensation Compensation and Benefits — Incentive Fee Compensation — Compensation and Benefits — Performance Allocations Compensation — in-kind).
Non-Controlling Interests in Consolidated Entities	Non-Controlling Non-Controlling non-controlling
Redeemable Non-Controlling Interests in Consolidated Entities	Redeemable Non-Controlling Investors in certain consolidated vehicles may be granted redemption rights that allow for quarterly or monthly redemption, as outlined in the relevant governing documents. Such redemption rights may be subject to certain limitations, including limits on the aggregate amount of interests that may be redeemed in a given period, may only allow for redemption following the expiration of a specified period of time, or may be withdrawn subject to a redemption fee during the period when capital may not be withdrawn. As a result, amounts relating to third party interests in such consolidated vehicles are presented as Redeemable Non-Controlling non-controlling Non-Controlling
Non-Controlling Interests in Blackstone Holdings	Non-Controlling Non-Controlling Certain costs and expenses are borne directly by the Holdings Partnerships. Income (Loss), excluding those costs directly borne by and attributable to the Holdings Partnerships, is attributable to Non-Controlling
Income Taxes	Income Taxes Provision of Income Taxes Income taxes are provided for using the asset and liability method under which deferred tax assets and liabilities are recognized for temporary differences between the financial reporting and tax bases of assets and liabilities, resulting in all pretax amounts being appropriately tax effected in the period, irrespective of which tax return year items will be reflected. Blackstone reports interest expense and tax penalties related to income tax matters in provision for income taxes. Deferred Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities. These temporary differences result in taxable or deductible amounts in future years and are measured using the tax rates and laws that will be in effect when such differences are expected to reverse. Valuation allowances are established to reduce the deferred tax assets to the amount that is more likely than not to be realized. Deferred tax assets are separately stated, and deferred tax liabilities are included in Accounts Payable, Accrued Expenses, and Other Liabilities in the condensed consolidated financial statements. Unrecognized Tax Benefits Blackstone recognizes tax positions in the condensed consolidated financial statements when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement. A liability is established for differences between positions taken in the return and amounts recognized in the condensed consolidated financial statements.
Net Income (Loss) Per Share of Common Stock	Net Income (Loss) Per Share of Common Stock Basic Income (Loss) Per Share of Common Stock is calculated by dividing Net Income (Loss) Attributable to Blackstone Inc. by the weighted-average shares of common stock, unvested participating shares of common stock outstanding for the period and vested deferred restricted shares of common stock that have been earned for which issuance of the related shares of common stock is deferred until future periods. Diluted Income (Loss) Per Share of Common Stock reflects the impact of all dilutive securities. Unvested participating shares of common stock are excluded from the computation in periods of loss as they are not contractually obligated to share in losses. Blackstone applies the treasury stock method to determine the dilutive weighted-average common shares outstanding for certain equity-based compensation awards. Blackstone applies the “if-converted”
Reverse Repurchase and Repurchase Agreements	Reverse Repurchase and Repurchase Agreements Securities purchased under agreements to resell (“reverse repurchase agreements”) and securities sold under agreements to repurchase (“repurchase agreements”), comprised primarily of U.S. and non-U.S. Blackstone manages credit exposure arising from reverse repurchase agreements and repurchase agreements by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide Blackstone, in the event of a counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. Blackstone takes possession of securities purchased under reverse repurchase agreements and is permitted to repledge, deliver or otherwise use such securities. Blackstone also pledges its financial instruments to counterparties to collateralize repurchase agreements. Financial instruments pledged that can be repledged, delivered or otherwise used by the counterparty are recorded in Investments in the Condensed Consolidated Statements of Financial Condition. Additional disclosures relating to repurchase agreements are discussed in Note 10. “Repurchase Agreements.” Blackstone does not offset assets and liabilities relating to reverse repurchase agreements and repurchase agreements in its Condensed Consolidated Statements of Financial Condition. Additional disclosures relating to offsetting are discussed in Note 11. “Offsetting of Assets and Liab iliti
Securities Sold, Not Yet Purchased	Securities Sold, Not Yet Purchased Securities Sold, Not Yet Purchased consist of equity and debt securities that Blackstone has borrowed and sold. Blackstone is required to “cover” its short sale in the future by purchasing the security at prevailing market prices and delivering it to the counterparty from which it borrowed the security. Blackstone is exposed to loss in the event that the price at which a security may have to be purchased to cover a short sale exceeds the price at which the borrowed security was sold short. Securities Sold, Not Yet Purchased are recorded at fair value in the Condensed Consolidated Statements of Financial Condition.
Derivative Instruments	Derivative Instruments Blackstone recognizes all derivatives as assets or liabilities on its Condensed Consolidated Statements of Financial Condition at fair value. On the date Blackstone enters into a derivative contract, it designates and documents each derivative contract as one of the following: (a) a hedge of a recognized asset or liability (“fair value hedge”), (b) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), (c) a hedge of a net investment in a foreign operation, or (d) a derivative instrument not designated as a hedging instrument (“freestanding derivative”). For freestanding derivative contracts, Blackstone presents changes in fair value in current period earnings. Changes in the fair value of derivative instruments held by consolidated Blackstone Funds are reflected in Net Gains from Fund Investment Activities or, where derivative instruments are held by Blackstone, within Investment Income (Loss) in the Condensed Consolidated Statements of Operations. The fair value of freestanding derivative assets of the consolidated Blackstone Funds are recorded within Investments, the fair value of freestanding derivative assets that are not part of the consolidated Blackstone Funds are recorded within Other Assets and the fair value of freestanding derivative liabilities are recorded within Accounts Payable, Accrued Expenses and Other Liabilities in the Condensed Consolidated Statements of Financial Condition. Blackstone has elected to not offset derivative assets and liabilities or financial assets in its Condensed Consolidated Statements of Financial Condition, including cash, that may be received or paid as part of collateral arrangements, even when an enforceable master netting agreement is in place that provides Blackstone, in the event of counterparty default, the right to liquidate collateral and the right to offset a counterparty’s rights and obligations. Blackstone’s other disclosures regarding derivative financial instruments are discussed in Note 6. “Derivative Financial Instruments.” Blackstone’s disclosures regarding offsetting are discussed in Note 11. “Offsetting of Assets and Liabilities.”
Affiliates	Affiliates Blackstone considers its Founder, senior managing directors, employees, the Blackstone Funds and the Portfolio Companies to be affiliates.
Dividends	Dividends Dividends are reflected in the condensed consolidated financial statements when decl ared

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
Intangible Assets (Tables)	Jun. 30, 2023
Intangible Assets, Net	Intangible Assets, Net consists of the following: June 30, December 31, 2023 2022 Finite-Lived Intangible Assets/Contractual Rights $ 1,769,372 $ 1,745,376 Accumulated Amortization (1,550,151 ) (1,528,089 ) Intangible Assets, Net $ 219,221 $ 217,287

Investments (Tables)

Investments (Tables)	6 Months Ended
Investments (Tables)	Jun. 30, 2023
Investments	Investments consist of the following: June 30, December 31, 2023 2022 Investments of Consolidated Blackstone Funds $ 5,490,773 $ 5,136,966 Equity Method Investments Partnership Investments 5,585,603 5,530,419 Accrued Performance Allocations 11,496,244 12,360,684 Corporate Treasury Investments 707,079 1,053,540 Other Investments 3,768,922 3,471,642 $ 27,048,621 $ 27,553,251
Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in Condensed Consolidated Statements of Operations	The following table presents the Realized and Net Change in Unrealized Gains (Losses) on investments held by the consolidated Blackstone Funds and a reconciliation to Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities in the Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Gains $ 3,653 $ 94,181 $ 20,808 $ 111,869 Net Change in Unrealized Gains (Losses) 58,104 (213,436 ) 40,950 (185,595 ) Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds 61,757 (119,255 ) 61,758 (73,726 ) Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds 18,743 14,929 89,806 20,276 Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities $ 80,500 $ (104,326 ) $ 151,564 $ (53,450 )
Performance Fees Allocated to Funds	Accrued Performance Allocations to Blackstone were as follows: Real Private Credit & Hedge Fund Estate Equity Insurance Solutions Total Accrued Performance Allocations, December 31, 2022 $ 5,334,117 $ 6,037,575 $ 569,898 $ 419,094 $ 12,360,684 Performance Allocations as a Result of Changes in Fund Fair Values (422,453 ) 808,471 75,955 44,234 506,207 Foreign Exchange Gain 12,366 — — — 12,366 Fund Distributions (503,135 ) (597,999 ) (199,353 ) (82,526 ) (1,383,013 ) Accrued Performance Allocations, $ 4,420,895 $ 6,248,047 $ 446,500 $ 380,802 $ 11,496,244
Realized and Net Change in Unrealized Gains (Losses) on Investments	The following table presents the Realized and Net Change in Unrealized Gains (Losses) on these investments: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Gains (Losses) $ (2,297 ) $ (18,655 ) $ 77 $ (20,617 ) Net Change in Unrealized Gains (Losses) 791 (19,980 ) 8,586 (47,583 ) $ (1,506 ) $ (38,635 ) $ 8,663 $ (68,200 )
Realized and Net Change in Unrealized Gains in Other Investments	The following table presents Blackstone’s Realized and Net Change in Unrealized Gains (Losses) in Other Investments: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Gains (Losses) $ (18,109 ) $ 15,992 $ (16,185 ) $ 117,341 Net Change in Unrealized Gains (Losses) 157,968 (70,785 ) (155,185 ) (151,270 ) $ 139,859 $ (54,793 ) $ (171,370 ) $ (33,929 )

Net Asset Value as Fair Value (

Net Asset Value as Fair Value (Tables)	6 Months Ended
Net Asset Value as Fair Value (Tables)	Jun. 30, 2023
Summary of Fair Value by Strategy Type Alongside Consolidated Funds of Hedge Funds' Remaining Unfunded Commitments and Ability to Redeem Such Investments	A summary of fair value by strategy type and ability to redeem such investments as of June 30, 2023 is presented below: Redemption Frequency Redemption Strategy (a) Fair Value (if currently eligible) Notice Period Equity $ 476,512 (b) (b) Real Estate 122,629 (c) (c) Credit Driven 5,269 (d) (d) Commodities 1,089 (e) (e) Diversified Instruments 17 (f) (f) $ 605,516 (a) As of June 30, 2023, Blackstone had no unfunded commitments. (b) The Equity category includes investments in hedge funds that invest primarily in domestic and international equity securities. Investments representing 25% of the fair value of the investments in this category may not be redeemed at, or within three months of, the reporting date. Investments representing 75% of the fair value of the investments in this category are redeemable as of the reporting date. (c) The Real Estate category includes investments in funds that primarily invest in real estate assets. All investments in this category are redeemable as of the reporting date. (d) The Credit Driven category includes investments in hedge funds that invest primarily in domestic and international bonds. All investments in this category may not be redeemed at, or within three months of, the reporting date. (e) The Commodities category includes investments in commodities-focused funds that primarily invest in futures and physical-based commodity driven strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date. (f) Diversified Instruments include investments in funds that invest across multiple strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
Derivative Financial Instruments (Tables)	Jun. 30, 2023
Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments	The table below summarizes the aggregate notional amount and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts. June 30, 2023 December 31, 2022 Assets Liabilities Assets Liabilities Fair Fair Fair Fair Notional Value Notional Value Notional Value Notional Value Freestanding Derivatives Blackstone Interest Rate Contracts $ 823,830 $ 179,531 $ 620,900 $ 85,721 $ 789,540 $ 188,043 $ 621,700 $ 83,331 Foreign Currency Contracts 221,472 2,472 531,099 5,811 541,238 8,040 190,774 3,542 Credit Default Swaps 3,108 643 3,748 670 2,007 384 8,768 1,309 Total Return Swaps 20,010 3,417 — — 42,233 6,210 — — Equity Options — — 1,135,435 221,456 — — 996,592 48,581 1,068,420 186,063 2,291,182 313,658 1,375,018 202,677 1,817,834 136,763 Investments of Consolidated Blackstone Funds Interest Rate Contracts 848,251 79,083 — — 931,752 74,926 — — Foreign Currency Contracts — — — — — — 5,133 284 848,251 79,083 — — 931,752 74,926 5,133 284 $ 1,916,671 $ 265,146 $ 2,291,182 $ 313,658 $ 2,306,770 $ 277,603 $ 1,822,967 $ 137,047
Summary of Impact of Derivative Financial Instruments to Condensed Consolidated Statements of Operations	The table below summarizes the impact to the Condensed Consolidated Statements of Operations from derivative financial instruments: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Freestanding Derivatives Realized Gains (Losses) Interest Rate Contracts $ (189 ) $ 1,379 $ 147 $ 5,278 Foreign Currency Contracts 4,433 (8,767 ) 10,023 (4,775 ) Credit Default Swaps (362 ) 33 (413 ) 128 Total Return Swaps 6,373 — 11,025 — 10,255 (7,355 ) 20,782 631 Net Change in Unrealized Gains (Losses) Interest Rate Contracts 4,897 72,721 2,777 107,677 Foreign Currency Contracts (4,655 6,766 (7,838 ) (2,606 Credit Default Swaps 592 (433 364 (420 ) Total Return Swaps (2,164 — (2,177 ) — Equity Options (18,038 — (172,876 ) — (19,368 79,054 (179,750 ) 104,651 $ (9,113 $ 71,699 $ (158,968 $ 105,282

Fair Value Option (Tables)

Fair Value Option (Tables)	6 Months Ended
Fair Value Option (Tables)	Jun. 30, 2023
Summary of Financial Instruments for Which Fair Value Option Has Been Elected	The following table summarizes the financial instruments for which the fair value option has been elected: June 30, December 31, 2023 2022 Assets Loans and Receivables $ 76,861 $ 315,039 Equity and Preferred Securities 2,295,099 1,868,192 Debt Securities 64,697 24,784 Assets of Consolidated CLO Vehicles Corporate Loans 219,324 — $ 2,655,981 $ 2,208,015 Liabilities CLO Notes Payable $ 264,234 $ — Corporate Treasury Commitments 3,771 8,144 $ 268,005 $ 8,144
Realized and Net Change in Unrealized Gains (Losses) on Financial Instruments on Financial Instruments on Which Fair Value Option was Elected	The following tables present the Realized and Net Change in Unrealized Gains (Losses) on financial instruments on which the fair value option was elected: Three Months Ended June 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (5,232 ) $ 4,227 $ (1,964 ) $ (6,805 ) Equity and Preferred Securities (2,878 ) 26,812 13,023 (19,774 ) Debt Securities — (876 ) (3,415 ) (19,227 ) Assets of Consolidated CLO Vehicles Corporate Loans (3,070 ) 4,150 — — $ (11,180 ) $ 34,313 $ 7,644 $ (45,806 ) Liabilities CLO Notes Payable $ — $ (1,541 ) $ — $ — Corporate Treasury Commitments — 2,147 — (6,868 ) $ — $ 606 $ — $ (6,868 ) Six Months Ended June 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (5,995 ) $ 3,924 $ (3,417 ) $ (5,359 ) Equity and Preferred Securities (1,182 ) (18,301 ) 12,301 (12,938 ) Debt Securities — (2,707 ) (4,367 ) (28,209 ) Assets of Consolidated CLO Vehicles Corporate Loans (6,199 ) 4,632 — — $ (13,376 ) $ (12,452 ) $ 4,517 $ (46,506 ) Liabilities CLO Notes Payable $ — $ 923 $ — $ — Corporate Treasury Commitments — 4,373 — (8,061 ) $ — $ 5,296 $ — $ (8,061 )
Information for Financial Instruments on Which Fair Value Option was Elected	The following table presents information for those financial instruments for which the fair value option was elected: June 30, 2023 December 31, 2022 For Financial Assets For Financial Assets Past Due (a) Past Due (a) Excess (Deficiency) (Deficiency) Excess of Fair Value Fair of Fair Value of Fair Value Fair of Fair Value Over Principal Value Over Principal Over Principal Value Over Principal Loans and Receivables $ 482 $ — $ — $ (2,861 ) $ — $ — Debt Securities (53,387 ) — — (48,670 ) — — Assets of Consolidated CLO Vehicles Corporate Loans (7,750 ) 385 (644 ) — — — $ (60,655 ) $ 385 $ (644 ) $ (51,531 ) $ — $ — (a) Assets are classified as past due if contractual payments are more than 90 days past due.

Fair Value Measurements of Fi_2

Fair Value Measurements of Financial Instruments (Tables)	6 Months Ended
Fair Value Measurements of Financial Instruments (Tables)	Jun. 30, 2023
Financial Assets and Liabilities at Fair Value	The following tables summarize the valuation of Blackstone’s financial assets and liabilities by the fair value hierarchy: June 30, 2023 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents $ 446,001 $ — $ — $ — $ 446,001 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 9,331 132,755 4,421,124 599,142 5,162,352 Debt Instruments — 230,611 18,727 — 249,338 Freestanding Derivatives — 79,083 — — 79,083 Total Investments of Consolidated Blackstone Funds 9,331 442,449 4,439,851 599,142 5,490,773 Corporate Treasury Investments 106,037 595,544 5,498 — 707,079 Other Investments 1,318,830 2,000,511 85,355 6,374 3,411,070 Total Investments 1,434,198 3,038,504 4,530,704 605,516 9,608,922 Accounts Receivable - Loans and Receivables — — 76,861 — 76,861 Other Assets - Freestanding Derivatives 885 181,761 3,417 — 186,063 $ 1,881,084 $ 3,220,265 $ 4,610,982 $ 605,516 $ 10,317,847 Liabilities Loans Payable - CLO Notes Payable $ — $ 264,234 $ — $ — $ 264,234 Securities Sold, Not Yet Purchased 3,821 — — — 3,821 Accounts Payable, Accrued Expenses and Other Liabilities Freestanding Derivatives (b) 142 92,060 221,456 — 313,658 Contingent Consideration (c) — — 800 — 800 Corporate Treasury Commitments (d) — — 3,771 — 3,771 Total Accounts Payable, Accrued Expenses and Other Liabilities 142 92,060 226,027 — 318,229 $ 3,963 $ 356,294 $ 226,027 $ — $ 586,284 December 31, 2022 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents $ 1,134,733 $ — $ — $ — $ 1,134,733 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 12,024 149,689 4,195,859 596,708 4,954,280 Debt Instruments — 53,787 53,973 — 107,760 Freestanding Derivatives — 74,926 — — 74,926 Total Investments of Consolidated Blackstone Funds 12,024 278,402 4,249,832 596,708 5,136,966 Corporate Treasury Investments 116,266 931,406 5,868 — 1,053,540 Other Investments 1,473,611 1,597,696 51,155 5,985 3,128,447 Total Investments 1,601,901 2,807,504 4,306,855 602,693 9,318,953 Accounts Receivable - Loans and Receivables — — 315,039 — 315,039 Other Assets - Freestanding Derivatives 279 196,188 6,210 — 202,677 $ 2,736,913 $ 3,003,692 $ 4,628,104 $ 602,693 $ 10,971,402 Liabilities Securities Sold, Not Yet Purchased $ 3,825 $ — $ — $ — $ 3,825 Accounts Payable, Accrued Expenses and Other Liabilities Consolidated Blackstone Funds - Freestanding Derivatives — 284 — — 284 Freestanding Derivatives (b) 21 88,161 48,581 — 136,763 Corporate Treasury Commitments (d) — — 8,144 — 8,144 Total Accounts Payable, Accrued Expenses and Other Liabilities 21 88,445 56,725 — 145,191 $ 3,846 $ 88,445 $ 56,725 $ — $ 149,016 LLC Limited Liability Company. (a) Equity Securities, Partnership and LLC Interest includes investments in investment funds. (b) Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility. (c) Level III contingent consideration liabilities are valued using a discounted cash flow model where the significant inputs include the discount rates. (d) Corporate Treasury Commitments are measured using third party pricing.
Summary of Quantitative Inputs and Assumptions for Items Categorized in Level III of Fair Value Hierarchy	The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of June 30, 2023: Fair Value Valuation Techniques Unobservable Ranges Weighted- Impact to Financial Assets Investments of Consolidated Equity Securities, Partnership and LLC Interests $ 4,421,124 Discounted Cash Flows Discount Rate 3.3% - 36.1% 7.8% Lower Exit Multiple - EBITDA 4.0x - 30.6x 14.5x Higher Exit Capitalization Rate 1.7% - 13.0% 4.8% Lower Transaction Price n/a Debt Instruments 18,727 Transaction Price n/a Total Investments of Consolidated Blackstone Funds 4,439,851 Corporate Treasury Investments 5,498 Third Party Pricing n/a Loans and Receivables 76,861 Discounted Cash Flows Discount Rate 9.5% - 11.7% 10.1% Lower Other Investments (b) 88,772 Transaction Price n/a Third Party Pricing n/a $ 4,610,982 The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of December 31, 2022: Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted- Impact to Financial Assets Investments of Consolidated Equity Securities, Partnership and LLC Interests $ 4,195,859 Discounted Cash Flows Discount Rate 4.1% - 34.5% 8.8% Lower Exit Multiple - EBITDA 4.0x - 30.6x 14.7x Higher Exit Capitalization Rate 2.6% - 14.4% 4.7% Lower Transaction Price n/a Debt Instruments 53,973 Transaction Price n/a Third Party Pricing n/a Total Investments of Consolidated Blackstone Funds 4,249,832 Corporate Treasury Investments 5,868 Third Party Pricing n/a Loans and Receivables 315,039 Discounted Cash Flows Discount Rate 7.6% - 11.5% 9.8% Lower Other Investments (b) 57,365 Transaction Price n/a Third Party Pricing n/a $ 4,628,104 n/a Not applicable. EBITDA Earnings before interest, taxes, depreciation and amortization. Exit Multiple Ranges include the last twelve months EBITDA and forward EBITDA multiples. Third Party Pricing Third Party Pricing is generally determined on the basis of unadjusted prices between market participants provided by reputable dealers or pricing services. Transaction Price Includes recent acquisitions or transactions. (a) Unobservable inputs were weighted based on the fair value of the investments included in the range. (b) As of June 30, 2023 and December 31, 2022, Other Investments includes Level III Freestanding Derivatives.
Summary of Changes in Financial Assets Measured at Fair Value for Which Level III Inputs Were Used	The following tables summarize the changes in financial assets and liabilities measured at fair value for which Blackstone has used Level III inputs to determine fair value and does not include gains or losses that were reported in Level III in prior years or for instruments that were transferred out of Level III prior to the end of the respective reporting period. These tables also exclude financial assets and liabilities measured at fair value on a non-recurring Level III Financial Assets at Fair Value Three Months Ended June 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period $ 4,338,509 $ 307,288 $ 74,604 $ 4,720,401 $ 1,208,252 $ 286,199 $ 43,214 $ 1,537,665 Transfer In Due to Consolidation and Acquisition — — — — 1,535,171 — — 1,535,171 Transfer Into Level III (b) 124 — — 124 4,692 — 907 5,599 Transfer Out of Level III (b) (4,751 ) — — (4,751 ) (56,268 ) — — (56,268 ) Purchases 121,526 116,897 2,291 240,714 269,788 441,687 4,752 716,227 Sales (53,152 (349,787 ) (1,523 ) (404,462 ) (103,118 ) (186,532 ) (2,748 ) (292,398 ) Issuances — 6,319 — 6,319 — 14,125 — 14,125 Settlements (c) — (19,292 ) (5,225 ) (24,517 ) — (17,165 ) — (17,165 ) Changes in Gains (Losses) Included in Earnings 37,595 15,436 3,465 56,496 (66,705 ) (4,209 ) (7,522 ) (78,436 ) Balance, End of Period $ 4,439,851 $ 76,861 $ 73,612 $ 4,590,324 $ 2,791,812 $ 534,105 $ 38,603 $ 3,364,520 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date $ 70,082 $ 19,577 $ 1,181 $ 90,840 $ (73,347 ) $ (8,097 ) $ (7,517 ) $ (88,961 ) Level III Financial Assets at Fair Value Six Months Ended June 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period $ 4,249,832 $ 315,039 $ 30,971 $ 4,595,842 $ 1,200,315 $ 392,732 $ 43,987 $ 1,637,034 Transfer In Due to Consolidation and Acquisition — — — — 1,535,171 — — 1,535,171 Transfer Out Due to Deconsolidation (3,837 ) — — (3,837 ) — — — — Transfer Into Level III (b) 13,997 — 898 14,895 4,696 — 907 5,603 Transfer Out of Level III (b) (5,064 ) — (2,725 ) (7,789 ) (110,176 ) — — (110,176 ) Purchases 170,869 171,967 51,693 394,529 327,810 444,784 7,498 780,092 Sales (121,707 ) (436,512 ) (1,703 ) (559,922 ) (167,431 ) (305,025 ) (2,812 ) (475,268 ) Issuances — 57,008 — 57,008 — 23,899 — 23,899 Settlements (c) — (53,088 ) (4,696 ) (57,784 ) — (22,018 ) — (22,018 ) Changes in Gains (Losses) Included in Earnings 135,761 22,447 (826 ) 157,382 1,427 (267 ) (10,977 ) (9,817 ) Balance, End of Period $ 4,439,851 $ 76,861 $ 73,612 $ 4,590,324 $ 2,791,812 $ 534,105 $ 38,603 $ 3,364,520 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date $ 89,027 $ 17,839 $ 4,653 $ 111,519 $ (20,852 ) $ (7,883 ) $ (10,971 ) $ (39,706 ) (a) Represents freestanding derivatives, corporate treasury investments and Other Investments. (b) Transfers in and out of Level III financial assets and liabilities were due to changes in the observability of inputs used in the valuation of such assets and liabilities. (c) For Freestanding Derivatives included within Other Investments, Settlements includes all ongoing contractual cash payments made or received over the life of the instrument.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
Variable Interest Entities (Tables)	Jun. 30, 2023
Maximum Exposure to Loss Relating to Non-Consolidated VIEs	Blackstone’s maximum exposure to loss relating to non-consolidated June 30, December 31, 2023 2022 Investments $ 3,108,832 $ 3,326,669 Due from Affiliates 191,026 189,240 Potential Clawback Obligation 74,125 384,926 Maximum Exposure to Loss $ 3,373,983 $ 3,900,835 Amounts Due to Non-Consolidated $ 68 $ 6

Repurchase Agreements (Tables)

Repurchase Agreements (Tables)	6 Months Ended
Repurchase Agreements (Tables)	Jun. 30, 2023
Schedule of Repurchase Agreements Obligation by Type of Collateral Pledged	The following tables provide information regarding Blackstone’s Repurchase Agreements obligation by type of collateral pledged: June 30, 2023 Remaining Contractual Maturity of the Agreements Overnight Greater and Up to 30 - 90 than Continuous 30 Days Days 90 days Total Repurchase Agreements Loans $ — $ 18,262 $ — $ — $ 18,262 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 11. “Offsetting of Assets and Liabilities” $ 18,262 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. “Offsetting of Assets and Liabilities” $ — December 31, 2022 Remaining Contractual Maturity of the Agreements Overnight Greater and Up to 30 - 90 than Continuous 30 Days Days 90 days Total Repurchase Agreements Loans $ — $ 70,776 $ — $ 19,168 $ 89,944 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 11. “Offsetting of Assets and Liabilities” $ 89,944 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. “Offsetting of Assets and Liabilities” $ —

Offsetting of Assets And Liab_2

Offsetting of Assets And Liabilities (Tables)	6 Months Ended
Offsetting of Assets And Liabilities (Tables)	Jun. 30, 2023
Offsetting of Assets	The following tables present the offsetting of assets and liabilities as of June 30, 2023 and D June 30, 2023 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives $ 265,146 $ 167,069 $ 86,222 $ 11,855 June 30, 2023 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 92,202 $ 87,529 $ 820 $ 3,853 Repurchase Agreements 18,262 18,262 — — $ 110,464 $ 105,791 $ 820 $ 3,853
Offsetting of Liabilities	December 31, 2022 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives $ 277,603 $ 165,897 $ 96,436 $ 15,270 December 31, 2022 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 88,182 $ 85,366 $ 1,345 $ 1,471 Repurchase Agreements 89,944 89,944 — — $ 178,126 $ 175,310 $ 1,345 $ 1,471 (a) Amounts presented are inclusive of both legally enforceable master netting agreements, and financial instruments received or pledged as collateral. Financial instruments received or pledged as collateral offset derivative counterparty risk exposure, but do not reduce net balance sheet exposure.
Other Assets	Repurchase Agreements are presented separately in the Condensed Consolidated Statements of Financial Condition. Freestanding Derivative assets are included in Other Assets in the Condensed Consolidated Statements of Financial Condition. The following table presents the components of Other Assets: June 30, December 31, 2023 2022 Furniture, Equipment and Leasehold Improvements $ 850,814 $ 748,334 Less: Accumulated Depreciation (355,673 ) (336,621 ) Furniture, Equipment and Leasehold Improvements, Net 495,141 411,713 Prepaid Expenses 201,700 165,079 Freestanding Derivatives 186,063 202,677 Other 22,550 20,989 $ 905,454 $ 800,458

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
Borrowings (Tables)	Jun. 30, 2023
Carrying Value and Fair Value of Blackstone Issued Notes	The following table presents each of Blackstone’s borrowings as of June 30, 2023 and December 31, 2022, as well as their carrying value and fair value. The borrowings are included in Loans Payable within the Condensed Consolidated Statements of Financial Condition. Each of the Senior Notes were issued at a discount through Blackstone’s indirect subsidiary, Blackstone Holdings Finance Co. L.L.C. The Senior Notes accrue interest from the issue date thereof and pay interest in arrears on a semi-annual basis or annual basis. The Secured Borrowings were issued at par, accrue interest from the issue date thereof and pay interest in arrears on a quarterly basis. CLO Notes Payable pay interest in arrears on a quarterly basis. June 30, 2023 December 31, 2022 Carrying Fair Carrying Fair Description Value Value Value Value Blackstone Operating Borrowings Senior Notes (a) 4.750%, Due 2/15/2023 $ — $ — $ 399,838 $ 399,776 2.000%, Due 5/19/2025 331,763 308,845 325,292 305,754 1.000%, Due 10/5/2026 655,736 580,714 642,968 568,525 3.150%, Due 10/2/2027 298,287 272,298 298,101 271,284 5.900%, Due 11/3/2027 594,888 608,640 594,381 606,450 1.625%, Due 8/5/2028 644,929 538,610 644,456 530,933 1.500%, Due 4/10/2029 658,458 551,561 645,819 532,043 2.500%, Due 1/10/2030 493,085 413,485 492,604 405,965 1.600%, Due 3/30/2031 496,217 372,605 495,990 365,380 2.000%, Due 1/30/2032 788,679 597,488 788,082 589,407 2.550%, Due 3/30/2032 495,437 393,480 495,207 390,370 6.200%, Due 4/22/2033 891,583 917,703 891,277 907,965 3.500%, Due 6/1/2034 514,883 473,587 504,695 452,934 6.250%, Due 8/15/2042 239,314 245,693 239,176 251,480 5.000%, Due 6/15/2044 489,838 442,719 489,704 441,355 4.450%, Due 7/15/2045 344,619 279,629 344,549 287,242 4.000%, Due 10/2/2047 291,041 221,634 290,935 227,946 3.500%, Due 9/10/2049 392,347 266,828 392,259 275,588 2.800%, Due 9/30/2050 394,030 229,528 393,958 237,552 2.850%, Due 8/5/2051 543,239 319,418 543,162 323,527 3.200%, Due 1/30/2052 987,265 637,700 987,131 646,880 10,545,638 8,672,165 10,899,584 9,018,356 Other (b) Secured Borrowing, Due 10/27/2033 19,983 19,983 — — Secured Borrowing, Due 1/29/2035 20,000 20,000 — — 10,585,621 8,712,148 10,899,584 9,018,356 Borrowings of Consolidated Blackstone Funds Blackstone Fund Facilities (c) 1,450,000 1,450,000 1,450,000 1,450,000 CLO Notes Payable (d) 264,234 264,234 — — 1,714,234 1,714,234 1,450,000 1,450,000 $ 12,299,855 $ 10,426,382 $ 12,349,584 $ 10,468,356 (a) Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy. (b) The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.31% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72% . (c) Blackstone Fund Facilities represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Borrowings bear interest at spreads to market rates or at stated fixed rates that can vary over the borrowing term. Interest may be subject to the performance of the assets within the fund and therefore, the stated interest rate and effective interest rate may differ. (d) CLO Notes Payable are due 10/15/2029 and have an effective interest rate of 7.44% as of June 30, 2023.
Scheduled Principal Payments for Borrowings	S Blackstone Borrowings of Operating Borrowings Consolidated Blackstone Funds Total 2023 $ 51 $ — $ 51 2024 — — — 2025 335,493 — 335,493 2026 660,587 — 660,587 2027 911,572 — 911,572 Thereafter 8,814,080 1,751,546 10,565,626 $ 10,721,783 $ 1,751,546 $ 12,473,329

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jun. 30, 2023
Schedule of Major Filing Jurisdictions and Open Period Subject to Examinations	As of June 30, 2023, the following are the major filing jurisdictions and their respective earliest open tax period subject to examination: Jurisdiction Year Federal 2019 New York City 2009 New York State 2016 United Kingdom 2011

Earnings Per Share and Stockh_2

Earnings Per Share and Stockholders' Equity (Tables)	6 Months Ended
Earnings Per Share and Stockholders' Equity (Tables)	Jun. 30, 2023
Basic and Diluted Net Income Per Common Stock	Basic and diluted net income per share of common stock for the three and six months ended June 30, 2023 and 2022 was calculated as follows: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Net Income (Loss) for Per Share of Common Stock Calculations Net Income (Loss) Attributable to Blackstone Inc., Basic and Diluted $ 601,274 $ (29,393 ) $ 687,086 $ 1,187,481 Shares/Units Outstanding Weighted-Average Shares of Common Stock Outstanding, Basic 758,479,943 707,382,293 752,306,729 738,752,489 Weighted-Average Shares of Unvested Deferred Restricted Common Stock 68,305 — 323,656 388,373 Weighted-Average Shares of Common Stock Outstanding, Diluted 758,548,248 707,382,293 752,630,385 739,140,862 Net Income (Loss) Per Share of Common Stock Basic $ 0.79 $ (0.04 ) $ 0.91 $ 1.61 Diluted $ 0.79 $ (0.04 ) $ 0.91 $ 1.61 Dividends Declared Per Share of Common Stock (a) $ 0.82 $ 1.32 $ 1.73 $ 2.77 (a) Dividends declared reflects the calendar date of the declaration for each distribution.
Summary of Anti-Dilutive Securities	The following table summarizes the anti-dilutive securities for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Weighted-Average Shares of Unvested Deferred Restricted Common Stock — 35,883,883 — — Weighted-Average Blackstone Holdings Partnership Units 461,569,524 466,817,529 462,255,884 467,303,495
Schedule of Shares Eligible For Dividends and Distribution	As of June 30, 2023, the total shares of common stock and Blackstone Holdings Partnership Units entitled to participate in dividends and distributions were as follows: Shares/Units Common Stock Outstanding 713,551,859 Unvested Participating Common Stock 44,596,669 Total Participating Common Stock 758,148,528 Participating Blackstone Holdings Partnership Units 461,135,682 1,219,284,210

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
Equity-Based Compensation (Tables)	Jun. 30, 2023
Summary of Status of Partnership's Unvested Equity-Based Awards	A summary of the status of Blackstone’s unvested equity-based awards as of June 30, 2023 and of changes during the period January 1, 2023 through June 30, 2023 is presented below: Blackstone Holdings Blackstone Inc. Equity Settled Awards Cash Settled Awards Weighted- Weighted- Weighted- Average Deferred Average Average Partnership Grant Date Restricted Shares Grant Date Phantom Grant Date Unvested Shares/Units Units Fair Value of Common Stock Fair Value Shares Fair Value Balance, December 31, 2022 11,029,996 $ 38.02 31,001,563 $ 82.94 48,886 $ 85.04 Granted — — 15,457,565 85.14 61,534 91.79 Vested (1,355,119 ) 35.86 (3,291,391 ) 81.28 (3,461 ) 89.78 Forfeited (46,823 ) 42.53 (452,129 ) 88.44 — — Balance, June 30, 2023 9,628,054 $ 38.34 42,715,608 $ 83.82 106,959 $ 90.52
Unvested Shares and Units, After Expected Forfeitures	The following unvested shares and units, after expected forfeitures, as of June 30, 2023, are expected to vest: Weighted- Average Service Period Shares/Units in Years Blackstone Holdings Partnership Units 9,670,998 0.8 Deferred Restricted Shares of Common Stock 37,435,792 3.6 Total Equity-Based Awards 47,106,790 3.0 Phantom Shares 88,674 4.5

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2023
Due from Affiliates and Due to Affiliates	Due from Affiliates and Due to Affiliates consisted of the following: June 30, December 31, 2023 2022 Due from Affiliates Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated $ 3,445,194 $ 3,344,813 Due from Certain Non-Controlling 778,811 741,319 Accrual for Potential Clawback of Previously Distributed Performance Allocations 70,432 60,575 $ 4,294,437 $ 4,146,707 June 30, December 31, 2023 2022 Due to Affiliates Due to Certain Non-Controlling $ 1,591,177 $ 1,602,933 Due to Non-Consolidated 191,458 157,982 Due to Certain Non-Controlling 111,548 198,875 Accrual for Potential Repayment of Previously Received Performance Allocations 198,654 158,691 $ 2,092,837 $ 2,118,481

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2023
Clawback Obligations by Segment	The following table presents the clawback obligations by segment: June 30, 2023 December 31, 2022 Current and Current and Blackstone Former Blackstone Former Segment Holdings Personnel (a) Total (b) Holdings Personnel (a) Total (b) Real Estate $ 82,324 $ 53,012 $ 135,336 $ 78,644 $ 51,771 $ 130,415 Private Equity 28,558 17,168 45,726 19,279 8,569 27,848 Credit & Insurance 187 267 454 223 205 428 Hedge Fund Solutions 18,040 (902 ) 17,138 — — — $ 129,109 $ 69,545 $ 198,654 $ 98,146 $ 60,545 $ 158,691 (a) The split of clawback between Blackstone Holdings and Current and Former Personnel is based on the performance of individual investments held by a fund rather than on a fund by fund basis. (b) Total is a component of Due to Affiliates. See Note 16. “Related Party Transactions — Affiliate Receivables and Payables — Due to Affiliates.”

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
Segment Reporting (Tables)	Jun. 30, 2023
Financial Data of Segments	The following tables present the financial data for Blackstone’s four segments for the three months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 709,977 $ 443,012 $ 335,308 $ 132,312 $ 1,620,609 Transaction, Advisory and Other Fees, Net 27,066 48,825 15,002 1,842 92,735 Management Fee Offsets (8,307 ) (766 ) (1,056 ) (29 ) (10,158 ) Total Management and Advisory Fees, Net 728,736 491,071 349,254 134,125 1,703,186 Fee Related Performance Revenues 131,299 — 135,439 — 266,738 Fee Related Compensation (199,006 ) (155,680 ) (168,234 ) (45,888 ) (568,808 ) Other Operating Expenses (71,949 ) (74,403 ) (81,375 ) (29,639 ) (257,366 ) Fee Related Earnings 589,080 260,988 235,084 58,598 1,143,750 Realized Performance Revenues 119,721 147,176 42,344 79,182 388,423 Realized Performance Compensation (69,593 ) (62,641 ) (17,571 ) (28,565 ) (178,370 ) Realized Principal Investment Income (Loss) (70 ) 3,967 (19,356 ) 7,998 (7,461 ) Total Net Realizations 50,058 88,502 5,417 58,615 202,592 Total Segment Distributable Earnings $ 639,138 $ 349,490 $ 240,501 $ 117,213 $ 1,346,342 Three Months Ended June 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 611,751 $ 433,459 $ 306,589 $ 145,077 $ 1,496,876 Transaction, Advisory and Other Fees, Net 46,974 27,551 7,117 3,450 85,092 Management Fee Offsets (689 ) (23,157 ) (1,165 ) (40 ) (25,051 ) Total Management and Advisory Fees, Net 658,036 437,853 312,541 148,487 1,556,917 Fee Related Performance Revenues 265,507 — 81,086 — 346,593 Fee Related Compensation (273,893 ) (152,622 ) (137,035 ) (57,863 ) (621,413 ) Other Operating Expenses (88,329 ) (83,233 ) (63,882 ) (26,066 ) (261,510 ) Fee Related Earnings 561,321 201,998 192,710 64,558 1,020,587 Realized Performance Revenues 1,997,720 122,884 78,973 7,197 2,206,774 Realized Performance Compensation (831,402 ) (57,380 ) (36,109 ) (2,083 ) (926,974 ) Realized Principal Investment Income (Loss) 29,116 8,904 7,019 (1,530 ) 43,509 Total Net Realizations 1,195,434 74,408 49,883 3,584 1,323,309 Total Segment Distributable Earnings $ 1,756,755 $ 276,406 $ 242,593 $ 68,142 $ 2,343,896 The following tables present the financial data for Blackstone’s four segments as of June 30, 2023 and for the six months ended June 30, 2023 and 2022: June 30, 2023 and the Six Months Then Ended Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 1,415,364 $ 894,622 $ 662,087 $ 268,083 $ 3,240,156 Transaction, Advisory and Other Fees, Net 47,627 63,609 23,453 3,756 138,445 Management Fee Offsets (18,764 ) (2,076 ) (2,157 ) (31 ) (23,028 ) Total Management and Advisory Fees, Net 1,444,227 956,155 683,383 271,808 3,355,573 Fee Related Performance Revenues 152,047 — 262,935 — 414,982 Fee Related Compensation (336,616 ) (317,306 ) (332,233 ) (91,624 ) (1,077,779 ) Other Operating Expenses (146,130 ) (151,166 ) (155,613 ) (56,105 ) (509,014 ) Fee Related Earnings 1,113,528 487,683 458,472 124,079 2,183,762 Realized Performance Revenues 130,817 646,498 167,525 85,109 1,029,949 Realized Performance Compensation (72,758 ) (295,575 ) (74,343 ) (31,718 ) (474,394 ) Realized Principal Investment Income (Loss) 2,154 36,856 (13,347 ) 10,567 36,230 Total Net Realizations 60,213 387,779 79,835 63,958 591,785 Total Segment Distributable Earnings $ 1,173,741 $ 875,462 $ 538,307 $ 188,037 $ 2,775,547 Segment Assets $ 14,049,551 $ 13,586,079 $ 6,352,586 $ 2,619,493 $ 36,607,709 Six Months Ended June 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees $ 1,191,937 $ 854,931 $ 599,034 $ 290,123 $ 2,936,025 Transaction, Advisory and Other Fees, Net 87,459 40,209 16,514 4,919 149,101 Management Fee Offsets (1,649 ) (50,299 ) (2,784 ) (109 ) (54,841 ) Total Management and Advisory Fees, Net 1,277,747 844,841 612,764 294,933 3,030,285 Fee Related Performance Revenues 757,024 (648 ) 148,282 — 904,658 Fee Related Compensation (618,735 ) (303,672 ) (264,379 ) (105,098 ) (1,291,884 ) Other Operating Expenses (154,332 ) (150,977 ) (121,049 ) (49,250 ) (475,608 ) Fee Related Earnings 1,261,704 389,544 375,618 140,585 2,167,451 Realized Performance Revenues 2,800,636 573,122 109,716 36,110 3,519,584 Realized Performance Compensation (1,121,433 ) (264,083 ) (49,495 ) (11,083 ) (1,446,094 ) Realized Principal Investment Income 83,091 74,342 29,800 13,371 200,604 Total Net Realizations 1,762,294 383,381 90,021 38,398 2,274,094 Total Segment Distributable Earnings $ 3,023,998 $ 772,925 $ 465,639 $ 178,983 $ 4,441,545
Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes	The following tables reconcile the Total Segment Revenues, Expenses and Distributable Earnings to their equivalent GAAP measure for the three and six months ended June 30, 2023 and 2022 along with Total Assets as of June 30, 2023: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Revenues Total GAAP Revenues $ 2,814,691 $ 629,220 $ 4,196,536 $ 5,755,500 Less: Unrealized Performance Revenues (a) (114,379 ) 3,467,668 644,937 2,174,618 Less: Unrealized Principal Investment (Income) Loss (b) (160,702 ) 203,288 318,418 176,530 Less: Interest and Dividend Revenue (c) (153,240 ) (66,143 ) (248,341 ) (120,628 ) Less: Other Revenue (d) 31,718 (155,704 ) 45,898 (228,523 ) Impact of Consolidation (e) (60,408 ) 75,099 (119,395 ) (102,497 ) Transaction-Related Charges (f) (7,461 ) (237 ) (2,673 ) (1,450 ) Intersegment Eliminations 667 602 1,354 1,581 Total Segment Revenue (g) $ 2,350,886 $ 4,153,793 $ 4,836,734 $ 7,655,131 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Expenses Total GAAP Expenses $ 1,475,310 $ 744,113 $ 2,664,655 $ 2,941,135 Less: Unrealized Performance Allocations Compensation (h) (54,155 ) 1,386,543 259,094 914,259 Less: Equity-Based Compensation (i) (249,755 ) (195,644 ) (517,889 ) (397,189 ) Less: Interest Expense (j) (107,130 ) (69,425 ) (211,339 ) (136,027 ) Impact of Consolidation (e) (40,879 ) (11,394 ) (97,553 ) (19,200 ) Amortization of Intangibles (k) (7,412 ) (17,044 ) (18,753 ) (34,088 ) Transaction-Related Charges (f) (9,689 ) (25,378 ) (13,522 ) (51,924 ) Administrative Fee Adjustment (l) (2,413 ) (2,476 ) (4,860 ) (4,961 ) Intersegment Eliminations 667 602 1,354 1,581 Total Segment Expenses (m) $ 1,004,544 $ 1,809,897 $ 2,061,187 $ 3,213,586 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Other Income Total GAAP Other Income (Loss) $ 87,595 $ (104,339 ) $ 153,451 $ (52,702 ) Impact of Consolidation (e) (87,595 ) 104,339 (153,451 ) 52,702 Total Segment Other Income $ — $ — $ — $ — Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Income (Loss) Before Provision for Taxes Total GAAP Income (Loss) Before Provision for Taxes $ 1,426,976 $ (219,232 ) $ 1,685,332 $ 2,761,663 Less: Unrealized Performance Revenues (a) (114,379 ) 3,467,668 644,937 2,174,618 Less: Unrealized Principal Investment (Income) Loss (b) (160,702 ) 203,288 318,418 176,530 Less: Interest and Dividend Revenue (c) (153,240 ) (66,143 ) (248,341 ) (120,628 ) Less: Other Revenue (d) 31,718 (155,704 ) 45,898 (228,523 ) Plus: Unrealized Performance Allocations Compensation (h) 54,155 (1,386,543 ) (259,094 ) (914,259 ) Plus: Equity-Based Compensation (i) 249,755 195,644 517,889 397,189 Plus: Interest Expense (j) 107,130 69,425 211,339 136,027 Impact of Consolidation (e) (107,124 ) 190,832 (175,293 ) (30,595 ) Amortization of Intangibles (k) 7,412 17,044 18,753 34,088 Transaction-Related Charges (f) 2,228 25,141 10,849 50,474 Administrative Fee Adjustment (l) 2,413 2,476 4,860 4,961 Total Segment Distributable Earnings $ 1,346,342 $ 2,343,896 $ 2,775,547 $ 4,441,545 As of June 30, 2023 Total Assets Total GAAP Assets $ 41,582,784 Impact of Consolidation (e) (4,975,075 ) Total Segment Assets $ 36,607,709 Segment basis presents revenues and expenses on a basis that deconsolidates the investment funds Blackstone manages and excludes the amortization of intangibles and Transaction-Related Charges. (a) This adjustment removes Unrealized Performance Revenues on a segment basis. (b) This adjustment removes Unrealized Principal Investment Income (Loss) on a segment basis. (c) This adjustment removes Interest and Dividend Revenue on a segment basis. (d) This adjustment removes Other Revenue on a segment basis. For the three months ended June 30, 2023 and 2022, Other Revenue on a GAAP basis was $(31.7) million and $155.6 million, and included $(32.0) million and $155.5 million of foreign exchange gains (losses), respectively. For the six months ended June 30, 2023 and 2022, Other Revenue on a GAAP basis was $(45.8) million and $228.5 million, and included $(46.7) million and $228.2 million of foreign exchange gains (losses), respectively. (e) This adjustment reverses the effect of consolidating Blackstone Funds, which are excluded from Blackstone’s segment presentation. This adjustment includes the elimination of Blackstone’s interest in these funds, the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling (f) This adjustment removes Transaction-Related Charges, which are excluded from Blackstone’s segment presentation. Transaction-Related Charges arise from corporate actions including acquisitions, divestitures, and Blackstone’s initial public offering. They consist primarily of equity-based compensation charges, gains and losses on contingent consideration arrangements, changes in the balance of the Tax Receivable Agreement resulting from a change in tax law or similar event, transaction costs and any gains or losses associated with these corporate actions. (g) Total Segment Revenues is comprised of the following: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Total Segment Management and Advisory Fees, Net $ 1,703,186 $ 1,556,917 $ 3,355,573 $ 3,030,285 Total Segment Fee Related Performance Revenues 266,738 346,593 414,982 904,658 Total Segment Realized Performance Revenues 388,423 2,206,774 1,029,949 3,519,584 Total Segment Realized Principal Investment Income (Loss) (7,461 ) 43,509 36,230 200,604 Total Segment Revenues $ 2,350,886 $ 4,153,793 $ 4,836,734 $ 7,655,131 (h) This adjustment removes Unrealized Performance Allocations Compensation. (i) This adjustment removes Equity-Based Compensation on a segment basis. (j) This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement. (k) This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation. (l) This adjustment adds an amount equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units. The administrative fee is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation. (m) Total Segment Expenses is comprised of the following: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Total Segment Fee Related Compensation $ 568,808 $ 621,413 $ 1,077,779 $ 1,291,884 Total Segment Realized Performance Compensation 178,370 926,974 474,394 1,446,094 Total Segment Other Operating Expenses 257,366 261,510 509,014 475,608 Total Segment Expenses $ 1,004,544 $ 1,809,897 $ 2,061,187 $ 3,213,586
Reconciliation of Total Segments to Reported on the Consolidated Statements of Operations	The following tables reconcile the components of Total Segments to their equivalent GAAP measures, reported on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Management and Advisory Fees, Net GAAP $ 1,709,370 $ 1,561,187 $ 3,367,685 $ 3,037,123 Segment Adjustment (a) (6,184 ) (4,270 ) (12,112 ) (6,838 ) Total Segment $ 1,703,186 $ 1,556,917 $ 3,355,573 $ 3,030,285 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 GAAP Realized Performance Revenues to Total Segment Fee Related Performance Revenues GAAP Incentive Fees $ 153,077 $ 99,598 $ 295,953 $ 204,087 Investment Income - Realized Performance Allocations 502,084 2,453,769 1,148,978 4,220,155 GAAP 655,161 2,553,367 1,444,931 4,424,242 Total Segment Less: Realized Performance Revenues (388,423 ) (2,206,774 ) (1,029,949 ) (3,519,584 ) Total Segment $ 266,738 $ 346,593 $ 414,982 $ 904,658 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 GAAP Compensation to Total Segment Fee Related Compensation GAAP Compensation $ 737,017 $ 686,012 $ 1,453,302 $ 1,342,517 Incentive Fee Compensation 64,227 45,363 127,508 86,382 Realized Performance Allocations Compensation 205,196 1,035,916 501,990 1,753,517 GAAP 1,006,440 1,767,291 2,082,800 3,182,416 Total Segment Less: Realized Performance Compensation (178,370 ) (926,974 ) (474,394 ) (1,446,094 ) Less: Equity-Based Compensation - Fee Related Compensation (246,445 ) (191,769 ) (511,599 ) (392,156 ) Less: Equity-Based Compensation - Performance Compensation (3,310 ) (3,875 ) (6,290 ) (5,033 ) Segment Adjustment (b) (9,507 ) (23,260 ) (12,738 ) (47,249 ) Total Segment $ 568,808 $ 621,413 $ 1,077,779 $ 1,291,884 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 GAAP General, Administrative and Other to Total Segment Other Operating Expenses GAAP $ 275,034 $ 289,288 $ 548,428 $ 529,962 Segment Adjustment (c) (17,668 ) (27,778 ) (39,414 ) (54,354 ) Total Segment $ 257,366 $ 261,510 $ 509,014 $ 475,608 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Performance Revenues GAAP Incentive Fees $ 153,077 $ 99,598 $ 295,953 $ 204,087 Investment Income - Realized Performance Allocations 502,084 2,453,769 1,148,978 4,220,155 GAAP 655,161 2,553,367 1,444,931 4,424,242 Total Segment Less: Fee Related Performance Revenues (266,738 ) (346,593 ) (414,982 ) (904,658 ) Total Segment $ 388,423 $ 2,206,774 $ 1,029,949 $ 3,519,584 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Performance Compensation GAAP Incentive Fee Compensation $ 64,227 $ 45,363 $ 127,508 $ 86,382 Realized Performance Allocation Compensation 205,196 1,035,916 501,990 1,753,517 GAAP 269,423 1,081,279 629,498 1,839,899 Total Segment Less: Fee Related Performance Compensation (d) (87,743 ) (150,430 ) (148,814 ) (388,772 ) Less: Equity-Based Compensation - Performance Compensation (3,310 ) (3,875 ) (6,290 ) (5,033 ) Total Segment $ 178,370 $ 926,974 $ 474,394 $ 1,446,094 Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 Realized Principal Investment Income GAAP $ 54,835 $ 265,161 $ 162,893 $ 550,265 Segment Adjustment (e) (62,296 ) (221,652 ) (126,663 ) (349,661 ) Total Segment $ (7,461 ) $ 43,509 $ 36,230 $ 200,604 Segment basis presents revenues and expenses on a basis that deconsolidates the investment funds Blackstone manages and excludes the amortization of intangibles, the expense of equity-based awards and Transaction-Related Charges. (a) Represents (1) the add back of net management fees earned from consolidated Blackstone Funds which have been eliminated in consolidation, and (2) the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures. (b) Represents the removal of Transaction-Related Charges that are not recorded in the Total Segment measures. (c) Represents the (1) removal of amortization of transaction-related intangibles, (2) removal of certain expenses reimbursed by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and (3) a reduction equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units which is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation. (d) Fee related performance compensation may include equity-based compensation based on fee related performance revenues (e) Represents (1) the add back of Principal Investment Income, including general partner income, earned from consolidated Blackstone Funds which have been eliminated in consolidation, and (2) the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling

Organization - Additional Infor

Organization - Additional Information (Detail)	3 Months Ended		6 Months Ended
Organization - Additional Information (Detail)	Jun. 30, 2023 Segment	Jun. 30, 2022 Segment	Jun. 30, 2023 Segment Person	Jun. 30, 2022 Segment
Organization [Line Items]
Number of business segments \| Segment	4	4	4	4
Number of Blackstone founders managing the Partnership \| Person			1

Intangible Assets, Net (Detail)

Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets/Contractual Rights	$ 1,769,372	$ 1,745,376
Accumulated Amortization	(1,550,151)	(1,528,089)
Intangible Assets, Net	$ 219,221	$ 217,287

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets [Line Items]
Amortization Expense	$ 9,100	$ 18,700	$ 22,062	$ 37,396
Expected amortization of intangibles, 2023	40,100		40,100
Expected amortization of intangibles, 2024	35,900		35,900
Expected amortization of intangibles, 2025	35,900		35,900
Expected amortization of intangibles, 2026	35,700		35,700
Expected amortization of intangibles, 2027	$ 34,600		$ 34,600
Intangible assets expected to amortize over a weighted-average period	6 years 7 months 6 days		6 years 7 months 6 days

Investments (Detail)

Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Investments	$ 27,048,621	$ 27,553,251
Partnership Investments
Schedule of Investments [Line Items]
Investments	5,585,603	5,530,419
Accrued Performance Allocations
Schedule of Investments [Line Items]
Investments	11,496,244	12,360,684
Other Investments
Schedule of Investments [Line Items]
Investments	3,768,922	3,471,642
Consolidated Blackstone Funds
Schedule of Investments [Line Items]
Investments	5,490,773	5,136,966
Corporate Treasury Investments
Schedule of Investments [Line Items]
Investments	$ 707,079	$ 1,053,540

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule of Investments [Line Items]
Investments	$ 27,048,621		$ 27,048,621		$ 27,553,251
Recognized net gains (losses) related to equity method investments	91,400	$ (138,700)	160,500	$ 197,600
Equity investments, carrying value	378,500		$ 378,500
Investment Maturity Terms			five years
Consolidated Blackstone Funds \| Blackstone
Schedule of Investments [Line Items]
Investments	$ 278,500		$ 278,500		$ 393,900

Reconciliation of Realized and

Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gain (Loss) on Securities [Line Items]
Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds	$ 835,403	$ (1,249,228)	$ 339,726	$ 2,169,273
Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds	148,505	62,075	238,990	116,560
Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities	80,500	(104,326)	151,564	(53,450)
Consolidated Blackstone Funds
Gain (Loss) on Securities [Line Items]
Realized Gains	3,653	94,181	20,808	111,869
Net Change in Unrealized Gains (Losses)	58,104	(213,436)	40,950	(185,595)
Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds	61,757	(119,255)	61,758	(73,726)
Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds	18,743	14,929	89,806	20,276
Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities	$ 80,500	$ (104,326)	$ 151,564	$ (53,450)

Performance Fees Allocated to F

Performance Fees Allocated to Funds (Detail) $ in Thousands	6 Months Ended
Performance Fees Allocated to Funds (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	$ 27,553,251
Ending Balance	27,048,621
Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	12,360,684
Performance Allocations as a Result of Changes in Fund Fair Values	506,207
Foreign Exchange Gain	12,366
Fund Distributions	(1,383,013)
Ending Balance	11,496,244
Real Estate Segment \| Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	5,334,117
Performance Allocations as a Result of Changes in Fund Fair Values	(422,453)
Foreign Exchange Gain	12,366
Fund Distributions	(503,135)
Ending Balance	4,420,895
Private Equity Segment \| Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	6,037,575
Performance Allocations as a Result of Changes in Fund Fair Values	808,471
Fund Distributions	(597,999)
Ending Balance	6,248,047
Credit & Insurance Segment \| Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	569,898
Performance Allocations as a Result of Changes in Fund Fair Values	75,955
Fund Distributions	(199,353)
Ending Balance	446,500
Hedge Fund Solutions Segment \| Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	419,094
Performance Allocations as a Result of Changes in Fund Fair Values	44,234
Fund Distributions	(82,526)
Ending Balance	$ 380,802

Realized and Net Change in Unre

Realized and Net Change in Unrealized Gains (Losses) on Investments Held by Blackstone's Treasury Cash Management Strategies (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gain (Loss) on Securities [Line Items]
Total realized and net change in unrealized gains (losses)	$ 835,403	$ (1,249,228)	$ 339,726	$ 2,169,273
Corporate Treasury Investments
Gain (Loss) on Securities [Line Items]
Realized Gains (Losses)	(2,297)	(18,655)	77	(20,617)
Net Change in Unrealized Gains (Losses)	791	(19,980)	8,586	(47,583)
Total realized and net change in unrealized gains (losses)	$ (1,506)	$ (38,635)	$ 8,663	$ (68,200)

Realized and Net Change in Un_2

Realized and Net Change in Unrealized Gains (Losses) in Other Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gain (Loss) on Securities [Line Items]
Total Investment Income (Loss)	$ 835,403	$ (1,249,228)	$ 339,726	$ 2,169,273
Other Investments
Gain (Loss) on Securities [Line Items]
Realized Gains (Losses)	(18,109)	15,992	(16,185)	117,341
Net Change in Unrealized Gains (Losses)	157,968	(70,785)	(155,185)	(151,270)
Total Investment Income (Loss)	$ 139,859	$ (54,793)	$ (171,370)	$ (33,929)

Summary of Fair Value by Strate

Summary of Fair Value by Strategy Type Alongside Consolidated Funds of Hedge Funds' Remaining Unfunded Commitments and Ability to Redeem Such Investments (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 605,516
Equity
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	476,512
Real Estate
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	122,629
Credit Driven
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	5,269
Commodities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	1,089
Diversified Instruments
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 17

Summary of Fair Value by Stra_2

Summary of Fair Value by Strategy Type Alongside Consolidated Funds of Hedge Funds' Remaining Unfunded Commitments and Ability to Redeem Such Investments (Parenthetical) (Detail) - Equity	Jun. 30, 2023
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of investments unable to be redeemed at, or within 3 months of reporting date	25%
Percentage of investments redeemable as of reporting date	75%

Summary of Aggregate Notional A

Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	$ 1,916,671	$ 2,306,770
Derivative Liabilities, Notional	2,291,182	1,822,967
Derivative Assets, Fair Value	265,146	277,603
Derivative Liabilities, Fair Value	313,658	137,047
Freestanding Derivatives
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	848,251	931,752
Derivative Liabilities, Notional		5,133
Derivative Assets, Fair Value	79,083	74,926
Derivative Liabilities, Fair Value		284
Freestanding Derivatives \| Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	1,068,420	1,375,018
Derivative Liabilities, Notional	2,291,182	1,817,834
Derivative Assets, Fair Value	186,063	202,677
Derivative Liabilities, Fair Value	313,658	136,763
Freestanding Derivatives \| Blackstone \| Total Return Swaps
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	20,010	42,233
Derivative Assets, Fair Value	3,417	6,210
Freestanding Derivatives \| Blackstone \| Credit Default Swap
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	3,108	2,007
Derivative Liabilities, Notional	3,748	8,768
Derivative Assets, Fair Value	643	384
Derivative Liabilities, Fair Value	670	1,309
Freestanding Derivatives \| Foreign Currency Contracts \| Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	221,472	541,238
Derivative Liabilities, Notional	531,099	190,774
Derivative Assets, Fair Value	2,472	8,040
Derivative Liabilities, Fair Value	5,811	3,542
Freestanding Derivatives \| Foreign Currency Contracts \| Consolidated Blackstone Funds
Derivatives, Fair Value [Line Items]
Derivative Liabilities, Notional		5,133
Derivative Liabilities, Fair Value		284
Freestanding Derivatives \| Interest Rate Contracts \| Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	823,830	789,540
Derivative Liabilities, Notional	620,900	621,700
Derivative Assets, Fair Value	179,531	188,043
Derivative Liabilities, Fair Value	85,721	83,331
Freestanding Derivatives \| Interest Rate Contracts \| Consolidated Blackstone Funds
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	848,251	931,752
Derivative Assets, Fair Value	79,083	74,926
Freestanding Derivatives \| Equity Options \| Blackstone
Derivatives, Fair Value [Line Items]
Derivative Liabilities, Notional	1,135,435	996,592
Derivative Liabilities, Fair Value	$ 221,456	$ 48,581

Summary of Impact of Derivative

Summary of Impact of Derivative Financial Instruments to Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Unrealized Gain (Loss) on Derivatives and Commodity Contracts	$ (9,113)	$ 71,699	$ (158,968)	$ 105,282
Freestanding Derivatives
Derivative [Line Items]
Realized Gains (Losses)	10,255	(7,355)	20,782	631
Net Change in Unrealized Gains (Losses)	(19,368)	79,054	(179,750)	104,651
Freestanding Derivatives \| Total Return Swaps
Derivative [Line Items]
Realized Gains (Losses)	6,373		11,025
Net Change in Unrealized Gains (Losses)	(2,164)		(2,177)
Freestanding Derivatives \| Credit Default Swap
Derivative [Line Items]
Realized Gains (Losses)	(362)	33	(413)	128
Net Change in Unrealized Gains (Losses)	592	(433)	364	(420)
Freestanding Derivatives \| Interest Rate Contracts
Derivative [Line Items]
Realized Gains (Losses)	(189)	1,379	147	5,278
Net Change in Unrealized Gains (Losses)	4,897	72,721	2,777	107,677
Freestanding Derivatives \| Foreign Currency Contracts
Derivative [Line Items]
Realized Gains (Losses)	4,433	(8,767)	10,023	(4,775)
Net Change in Unrealized Gains (Losses)	(4,655)	$ 6,766	(7,838)	$ (2,606)
Freestanding Derivatives \| Equity Options
Derivative [Line Items]
Net Change in Unrealized Gains (Losses)	$ (18,038)		$ (172,876)

Summary of Financial Instrument

Summary of Financial Instruments for Which Fair Value Option Has Been Elected (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans and Receivables	$ 76,861	$ 315,039
Assets	2,655,981	2,208,015
Liabilities	268,005	8,144
Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments	64,697	24,784
Equity and Preferred Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments	2,295,099	1,868,192
Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	219,324	0
CLO Notes Payable
Fair Value, Option, Quantitative Disclosures [Line Items]
Liabilities	264,234	0
Corporate Treasury Commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Liabilities	$ 3,771	$ 8,144

Realized and Net Change in Un_3

Realized and Net Change in Unrealized Gains (Losses) on Financial Instruments on Financial Instruments on Which Fair Value Option was Elected (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Realized Gains (Losses) \| Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments		$ (3,415)		$ (4,367)
Realized Gains (Losses) \| Assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	$ (11,180)	7,644	$ (13,376)	4,517
Realized Gains (Losses) \| Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(5,232)	(1,964)	(5,995)	(3,417)
Realized Gains (Losses) \| Equity and Preferred Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(2,878)	13,023	(1,182)	12,301
Realized Gains (Losses) \| Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(3,070)		(6,199)
Net Change In Unrealized Gains (Losses) \| Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(876)	(19,227)	(2,707)	(28,209)
Net Change In Unrealized Gains (Losses) \| Assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	34,313	(45,806)	(12,452)	(46,506)
Net Change In Unrealized Gains (Losses) \| Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	4,227	(6,805)	3,924	(5,359)
Net Change In Unrealized Gains (Losses) \| Liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	606	(6,868)	5,296	(8,061)
Net Change In Unrealized Gains (Losses) \| Equity and Preferred Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	26,812	(19,774)	(18,301)	(12,938)
Net Change In Unrealized Gains (Losses) \| Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	4,150		4,632
Net Change In Unrealized Gains (Losses) \| CLO Notes Payable
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(1,541)		923
Net Change In Unrealized Gains (Losses) \| Corporate Treasury Commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	$ 2,147	$ (6,868)	$ 4,373	$ (8,061)

Information for Financial Instr

Information for Financial Instruments on Which Fair Value Option was Elected (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Excess (Deficiency) of fair value over uncollected principal	$ (60,655)	$ (51,531)
Fair value of financial instruments more than one day past due	385
(Deficiency) of fair value more than one day past due over uncollected principal	(644)
Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Excess (Deficiency) of fair value over uncollected principal	(7,750)	0
Fair value of financial instruments more than one day past due	385	0
(Deficiency) of fair value more than one day past due over uncollected principal	(644)
Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Excess (Deficiency) of fair value over uncollected principal	(53,387)	(48,670)
Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Excess (Deficiency) of fair value over uncollected principal	482	(2,861)
Fair value of financial instruments more than one day past due	$ 0	$ 0

Fair Value Option - Additional

Fair Value Option - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of financial instruments more than one day past due	$ 385
Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of financial instruments more than one day past due	385	$ 0
Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of financial instruments more than one day past due	0	0
Fair value of financial instruments with non-accrual status	$ 0	$ 0

Financial Assets and Liabilitie

Financial Assets and Liabilities at Fair Value (Detail) - USD ($) $ in Thousands		Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts Receivable - Loans and Receivables		$ 76,861	$ 315,039
Assets		2,655,981	2,208,015
Loans Payable - CLO Notes Payable		12,299,855	12,349,584
Securities Sold, Not Yet Purchased		3,821	3,825
Corporate Treasury Commitments		$ 268,005	$ 8,144
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other Assets	Other Assets
Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets		$ 265,146	$ 277,603
Derivatives liabilities		92,202	88,182
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		4,610,982	4,628,104
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents		446,001	1,134,733
Total Investments		9,608,922	9,318,953
Accounts Receivable - Loans and Receivables		76,861	315,039
Assets		10,317,847	10,971,402
Loans Payable - CLO Notes Payable		264,234
Securities Sold, Not Yet Purchased		3,821	3,825
Contingent Consideration	[1]	800
Total Accounts Payable, Accrued Expenses and Other Liabilities		318,229	145,191
Liabilities		586,284	149,016
Fair Value, Measurements, Recurring \| Corporate Treasury Commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate Treasury Commitments	[2]	3,771	8,144
Fair Value, Measurements, Recurring \| Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	313,658	136,763
Total Accounts Payable, Accrued Expenses and Other Liabilities			284
Fair Value, Measurements, Recurring \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		3,411,070	3,128,447
Fair Value, Measurements, Recurring \| Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		605,516	602,693
Assets		605,516	602,693
Fair Value, Measurements, Recurring \| Net Asset Value \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		6,374	5,985
Fair Value, Measurements, Recurring \| Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		5,490,773	5,136,966
Derivatives assets		186,063	202,677
Fair Value, Measurements, Recurring \| Consolidated Blackstone Funds \| Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		79,083	74,926
Fair Value, Measurements, Recurring \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	5,162,352	4,954,280
Fair Value, Measurements, Recurring \| Consolidated Blackstone Funds \| Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		249,338	107,760
Fair Value, Measurements, Recurring \| Consolidated Blackstone Funds \| Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		599,142	596,708
Fair Value, Measurements, Recurring \| Consolidated Blackstone Funds \| Net Asset Value \| Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	599,142	596,708
Fair Value, Measurements, Recurring \| Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		707,079	1,053,540
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents		446,001	1,134,733
Total Investments		1,434,198	1,601,901
Assets		1,881,084	2,736,913
Securities Sold, Not Yet Purchased		3,821	3,825
Total Accounts Payable, Accrued Expenses and Other Liabilities		142	21
Liabilities		3,963	3,846
Fair Value, Measurements, Recurring \| Level 1 \| Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	142	21
Fair Value, Measurements, Recurring \| Level 1 \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		1,318,830	1,473,611
Fair Value, Measurements, Recurring \| Level 1 \| Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		9,331	12,024
Derivatives assets		885	279
Fair Value, Measurements, Recurring \| Level 1 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	9,331	12,024
Fair Value, Measurements, Recurring \| Level 1 \| Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		106,037	116,266
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		3,038,504	2,807,504
Assets		3,220,265	3,003,692
Loans Payable - CLO Notes Payable		264,234
Total Accounts Payable, Accrued Expenses and Other Liabilities		92,060	88,445
Liabilities		356,294	88,445
Fair Value, Measurements, Recurring \| Level 2 \| Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	92,060	88,161
Total Accounts Payable, Accrued Expenses and Other Liabilities			284
Fair Value, Measurements, Recurring \| Level 2 \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		2,000,511	1,597,696
Fair Value, Measurements, Recurring \| Level 2 \| Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		442,449	278,402
Derivatives assets		181,761	196,188
Fair Value, Measurements, Recurring \| Level 2 \| Consolidated Blackstone Funds \| Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		79,083	74,926
Fair Value, Measurements, Recurring \| Level 2 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	132,755	149,689
Fair Value, Measurements, Recurring \| Level 2 \| Consolidated Blackstone Funds \| Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		230,611	53,787
Fair Value, Measurements, Recurring \| Level 2 \| Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		595,544	931,406
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		4,530,704	4,306,855
Accounts Receivable - Loans and Receivables		76,861	315,039
Assets		4,610,982	4,628,104
Contingent Consideration	[1]	800
Total Accounts Payable, Accrued Expenses and Other Liabilities		226,027	56,725
Liabilities		226,027	56,725
Fair Value, Measurements, Recurring \| Level 3 \| Corporate Treasury Commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate Treasury Commitments	[2]	3,771	8,144
Fair Value, Measurements, Recurring \| Level 3 \| Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	221,456	48,581
Fair Value, Measurements, Recurring \| Level 3 \| Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		85,355	51,155
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		4,439,851	4,249,832
Derivatives assets		3,417	6,210
Assets		4,439,851	4,249,832
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	4,421,124	4,195,859
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		18,727	53,973
Fair Value, Measurements, Recurring \| Level 3 \| Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		$ 5,498	$ 5,868

[1]Level III contingent consideration liabilities are valued using a discounted cash flow model where the significant inputs include the discount rates.[2]Corporate Treasury Commitments are measured using third party pricing.[3]Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility.[4]Equity Securities, Partnership and LLC Interest includes investments in investment funds.

Summary of Quantitative Inputs

Summary of Quantitative Inputs and Assumptions for Items Categorized in Level III of Fair Value Hierarchy (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 2,655,981	$ 2,208,015
Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,610,982	4,628,104
Fair Value, Measurements, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		10,317,847	10,971,402
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,610,982	4,628,104
Fair Value, Measurements, Recurring \| Level 3 \| Loans and Receivables \| Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 76,861	$ 315,039
Fair Value, Measurements, Recurring \| Level 3 \| Minimum \| Loans and Receivables \| Discounted Cash Flows \| Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate		9.50%	7.60%
Fair Value, Measurements, Recurring \| Level 3 \| Maximum \| Loans and Receivables \| Discounted Cash Flows \| Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate		11.70%	11.50%
Fair Value, Measurements, Recurring \| Level 3 \| Weighted Average \| Loans and Receivables \| Discounted Cash Flows \| Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate	[1]	10.10%	9.80%
Fair Value, Measurements, Recurring \| Level 3 \| Other Investments \| Transaction Price Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets	[2]	$ 88,772	$ 57,365
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,439,851	4,249,832
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 4,421,124	$ 4,195,859
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Minimum \| Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate		1.70%	2.60%
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Minimum \| EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA		4	4
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Minimum \| Discounted Cash Flows \| Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate		3.30%	4.10%
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Maximum \| Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate		13%	14.40%
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Maximum \| EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA		30.6	30.6
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Maximum \| Discounted Cash Flows \| Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate		36.10%	34.50%
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Weighted Average \| Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate	[1]	4.80%	4.70%
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Weighted Average \| EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA	[1]	14.5	14.7
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Equity Securities, Partnerships and LLC Interests \| Weighted Average \| Discounted Cash Flows \| Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate	[1]	7.80%	8.80%
Fair Value, Measurements, Recurring \| Level 3 \| Consolidated Blackstone Funds \| Debt Instruments \| Transaction Price Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 18,727	$ 53,973
Fair Value, Measurements, Recurring \| Level 3 \| Corporate Treasury Investments \| Third Party Pricing Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 5,498	$ 5,868

[1]Unobservable inputs were weighted based on the fair value of the investments included in the range.[2]As of June 30, 2023 and December 31, 2022, Other Investments includes Level III Freestanding Derivatives.

Summary of Changes in Financial

Summary of Changes in Financial Assets Measured at Fair Value for Which Level III Inputs Were Used (Detail) - Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	$ 4,720,401	$ 1,537,665	$ 4,595,842	$ 1,637,034
Transfer In Due to Consolidation and Acquisition		1,535,171		1,535,171
Transfer Out Due to Deconsolidation			(3,837)
Transfer Into Level III	124	5,599	14,895	5,603
Transfer Out of Level III	(4,751)	(56,268)	(7,789)	(110,176)
Purchases	240,714	716,227	394,529	780,092
Sales	(404,462)	(292,398)	(559,922)	(475,268)
Issuances	6,319	14,125	57,008	23,899
Settlements	(24,517)	(17,165)	(57,784)	(22,018)
Changes in Gains (Losses) Included in Earnings	56,496	(78,436)	157,382	(9,817)
Balance, End of Period	4,590,324	3,364,520	4,590,324	3,364,520
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	90,840	(88,961)	111,519	(39,706)
Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	74,604	43,214	30,971	43,987
Transfer Into Level III		907	898	907
Transfer Out of Level III			(2,725)
Purchases	2,291	4,752	51,693	7,498
Sales	(1,523)	(2,748)	(1,703)	(2,812)
Settlements	(5,225)		(4,696)
Changes in Gains (Losses) Included in Earnings	3,465	(7,522)	(826)	(10,977)
Balance, End of Period	73,612	38,603	73,612	38,603
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	1,181	(7,517)	4,653	(10,971)
Loans and Receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	307,288	286,199	315,039	392,732
Purchases	116,897	441,687	171,967	444,784
Sales	(349,787)	(186,532)	(436,512)	(305,025)
Issuances	6,319	14,125	57,008	23,899
Settlements	(19,292)	(17,165)	(53,088)	(22,018)
Changes in Gains (Losses) Included in Earnings	15,436	(4,209)	22,447	(267)
Balance, End of Period	76,861	534,105	76,861	534,105
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	19,577	(8,097)	17,839	(7,883)
Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	4,338,509	1,208,252	4,249,832	1,200,315
Transfer In Due to Consolidation and Acquisition		1,535,171		1,535,171
Transfer Out Due to Deconsolidation			(3,837)
Transfer Into Level III	124	4,692	13,997	4,696
Transfer Out of Level III	(4,751)	(56,268)	(5,064)	(110,176)
Purchases	121,526	269,788	170,869	327,810
Sales	(53,152)	(103,118)	(121,707)	(167,431)
Changes in Gains (Losses) Included in Earnings	37,595	(66,705)	135,761	1,427
Balance, End of Period	4,439,851	2,791,812	4,439,851	2,791,812
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	$ 70,082	$ (73,347)	$ 89,027	$ (20,852)

Maximum Exposure to Loss Relati

Maximum Exposure to Loss Relating to Non-Consolidated VIEs (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
VIE Assets	$ 41,582,784	$ 42,524,227
VIE Liabilities	22,492,305	22,843,160
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	3,373,983	3,900,835
Variable Interest Entity, Not Primary Beneficiary \| Investments
Variable Interest Entity [Line Items]
VIE Assets	3,108,832	3,326,669
Variable Interest Entity, Not Primary Beneficiary \| Due from Affiliates
Variable Interest Entity [Line Items]
VIE Assets	191,026	189,240
Variable Interest Entity, Not Primary Beneficiary \| Potential Clawback Obligation
Variable Interest Entity [Line Items]
VIE Liabilities	74,125	384,926
Variable Interest Entity, Not Primary Beneficiary \| Amounts Due to Non-Consolidated VIEs
Variable Interest Entity [Line Items]
VIE Liabilities	$ 68	$ 6

Repurchase Agreements - Additio

Repurchase Agreements - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Securities Financing Transaction [Line Items]
Pledged securities with carrying value to collateralize its repurchase agreements	$ 18.3	$ 89.9

Schedule of Repurchase Agreemen

Schedule of Repurchase Agreements Obligation by Type of Collateral Pledged (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	$ 18,262	$ 89,944
Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 11. "Offsetting of Assets and Liabilities"	18,262	89,944
Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. "Offsetting of Assets and Liabilities"	0	0
Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	18,262	89,944
Overnight and Continuous \| Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	0
Up to 30 Days \| Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	18,262	70,776
30 - 90 Days \| Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	0
Greater than 90 Days \| Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	$ 0	$ 19,168

Offsetting of Assets and Liab_3

Offsetting of Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Offsetting Assets and Liabilities [Line Items]
Repurchase agreements gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	$ 18,262	$ 89,944
Repurchase agreements gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	18,262	89,944
Repurchase agreements gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	0	0
Repurchase agreements Net Amount	0	0
Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	110,464	178,126
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	105,791	175,310
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	820	1,345
Net Amount	3,853	1,471
Freestanding Derivatives
Offsetting Assets and Liabilities [Line Items]
Derivatives gross and Net Amounts of Assets Presented in the Statement of Financial Condition	265,146	277,603
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	167,069	165,897
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	86,222	96,436
Derivatives Net Amount	11,855	15,270
Derivatives gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	92,202	88,182
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	87,529	85,366
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	820	1,345
Derivatives Net Amount	$ 3,853	$ 1,471

Offsetting Of Assets And Liab_4

Offsetting Of Assets And Liabilities - Additional Information (Detail) - Cash Pooling Arrangement $ in Millions	Jun. 30, 2023 USD ($)
Offsetting Assets [Line Items]
Aggregate cash balance on deposit relating to the cash pooling arrangement	$ 869.4
Overdraft facility	$ 869.3

Components of Other Assets (Det

Components of Other Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Other Assets [Line Items]
Furniture, Equipment and Leasehold Improvements	$ 850,814	$ 748,334
Less: Accumulated Depreciation	(355,673)	(336,621)
Furniture, Equipment and Leasehold Improvements, Net	495,141	411,713
Prepaid Expenses	201,700	165,079
Freestanding Derivatives	186,063	202,677
Other	22,550	20,989
Total Other Assets	$ 905,454	$ 800,458

Borrowings - Additional Informa

Borrowings - Additional Information (Detail)	6 Months Ended
Borrowings - Additional Information (Detail)	Jun. 30, 2023
Liabilities Of Consolidated Clo Vehicles Notes Payable [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 15, 2029
Debt instrument, interest rate	7.44%
Secured Borrowings One [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 27, 2033	[1]
Debt instrument, interest rate	7.31%
Secured Borrowings Two [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 29, 2035	[1]
Debt instrument, interest rate	3.72%

[1]The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.31% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72% Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing.

Carrying Value and Fair Value o

Carrying Value and Fair Value of Blackstone Issued Notes (Detail) - USD ($) $ in Thousands		Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Carrying Value		$ 12,299,855	$ 12,349,584
Debt instrument, fair value		10,426,382	10,468,356
Senior Secured Notes
Debt Instrument [Line Items]
Carrying Value	[1]	10,545,638	10,899,584
Debt instrument, fair value	[1]	8,672,165	9,018,356
Other [Member]
Debt Instrument [Line Items]
Carrying Value	[2]	10,585,621	10,899,584
Debt instrument, fair value	[2]	8,712,148	9,018,356
Borrowings of Consolidated Blackstone Funds [Member]
Debt Instrument [Line Items]
Carrying Value		1,714,234	1,450,000
Debt instrument, fair value		1,714,234	1,450,000
Borrowings of Consolidated Blackstone Funds [Member] \| Liabilities Of Consolidated Clo Vehicles Notes Payable [Member]
Debt Instrument [Line Items]
Carrying Value	[3]	264,234	0
Debt instrument, fair value	[3]	264,234	0
Borrowings of Consolidated Blackstone Funds [Member] \| Blackstone Fund Facilities [Member]
Debt Instrument [Line Items]
Carrying Value	[4]	1,450,000	1,450,000
Debt instrument, fair value	[4]	1,450,000	1,450,000
4.750% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	0	399,838
Debt instrument, fair value	[1]	0	399,776
2.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	331,763	325,292
Debt instrument, fair value	[1]	308,845	305,754
1.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	655,736	642,968
Debt instrument, fair value	[1]	580,714	568,525
3.150% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	298,287	298,101
Debt instrument, fair value	[1]	272,298	271,284
5.900% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	594,888	594,381
Debt instrument, fair value	[1]	608,640	606,450
1.625% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	644,929	644,456
Debt instrument, fair value	[1]	538,610	530,933
1.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	658,458	645,819
Debt instrument, fair value	[1]	551,561	532,043
2.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	493,085	492,604
Debt instrument, fair value	[1]	413,485	405,965
1.600% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	496,217	495,990
Debt instrument, fair value	[1]	372,605	365,380
2.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	788,679	788,082
Debt instrument, fair value	[1]	597,488	589,407
2.550% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	495,437	495,207
Debt instrument, fair value	[1]	393,480	390,370
6.200% Note
Debt Instrument [Line Items]
Carrying Value	[1]	891,583	891,277
Debt instrument, fair value	[1]	917,703	907,965
3.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	514,883	504,695
Debt instrument, fair value	[1]	473,587	452,934
6.250% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	239,314	239,176
Debt instrument, fair value	[1]	245,693	251,480
5.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	489,838	489,704
Debt instrument, fair value	[1]	442,719	441,355
4.450% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	344,619	344,549
Debt instrument, fair value	[1]	279,629	287,242
4.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	291,041	290,935
Debt instrument, fair value	[1]	221,634	227,946
3.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	392,347	392,259
Debt instrument, fair value	[1]	266,828	275,588
2.800% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	394,030	393,958
Debt instrument, fair value	[1]	229,528	237,552
2.850% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	543,239	543,162
Debt instrument, fair value	[1]	319,418	323,527
3.200% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	987,265	987,131
Debt instrument, fair value	[1]	637,700	646,880
Secured Borrowings One [Member] \| Other [Member]
Debt Instrument [Line Items]
Carrying Value	[2]	19,983	0
Debt instrument, fair value	[2]	19,983	0
Secured Borrowings Two [Member] \| Other [Member]
Debt Instrument [Line Items]
Carrying Value	[2]	20,000	0
Debt instrument, fair value	[2]	$ 20,000	$ 0

[1]Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy.[2]The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.31% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72% Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing.[3]CLO Notes Payable are due 10/15/2029 and have an effective interest rate of 7.44% as of June 30, 2023.[4]Blackstone Fund Facilities represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Borrowings bear interest at spreads to market rates or at stated fixed rates that can vary over the borrowing term. Interest may be subject to the performance of the assets within the fund and therefore, the stated interest rate and effective interest rate may differ.

Carrying Value and Fair Value_2

Carrying Value and Fair Value of Blackstone Issued Notes (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2023
4.750% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.75%
Debt instrument, maturity date	Feb. 15, 2023	[1]
2.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2%
Debt instrument, maturity date	May 19, 2025	[1]
1.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1%
Debt instrument, maturity date	Oct. 05, 2026	[1]
3.150% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.15%
Debt instrument, maturity date	Oct. 02, 2027	[1]
1.625% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.625%
Debt instrument, maturity date	Aug. 05, 2028	[1]
1.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.50%
Debt instrument, maturity date	Apr. 10, 2029	[1]
2.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.50%
Debt instrument, maturity date	Jan. 10, 2030	[1]
1.600% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.60%
Debt instrument, maturity date	Mar. 30, 2031	[1]
2.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2%
Debt instrument, maturity date	Jan. 30, 2032	[1]
2.550% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.55%
Debt instrument, maturity date	Mar. 30, 2032	[1]
6.200% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	6.20%
Debt instrument, maturity date	Apr. 22, 2033	[1]
3.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.50%
Debt instrument, maturity date	Jun. 01, 2034	[1]
6.250% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	6.25%
Debt instrument, maturity date	Aug. 15, 2042	[1]
5.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	5%
Debt instrument, maturity date	Jun. 15, 2044	[1]
4.450% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.45%
Debt instrument, maturity date	Jul. 15, 2045	[1]
4.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4%
Debt instrument, maturity date	Oct. 02, 2047	[1]
3.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.50%
Debt instrument, maturity date	Sep. 10, 2049	[1]
2.800% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.80%
Debt instrument, maturity date	Sep. 30, 2050	[1]
2.850% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.85%
Debt instrument, maturity date	Aug. 05, 2051	[1]
3.200% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.20%
Debt instrument, maturity date	Jan. 30, 2052	[1]
5.900% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	5.90%
Debt instrument, maturity date	Nov. 03, 2027	[1]
Secured Borrowings One [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	7.31%
Debt instrument, maturity date	Oct. 27, 2033	[2]
Secured Borrowings Two [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	3.72%
Debt instrument, maturity date	Jan. 29, 2035	[2]

[1]Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy.[2]The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.31% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72% Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing.

Scheduled Principal Payments fo

Scheduled Principal Payments for Borrowings (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
2023	$ 51
2024	0
2025	335,493
2026	660,587
2027	911,572
Thereafter	10,565,626
Total	12,473,329
Operating Borrowings
Debt Instrument [Line Items]
2023	51
2024	0
2025	335,493
2026	660,587
2027	911,572
Thereafter	8,814,080
Total	10,721,783
Blackstone Fund Facilities CLO Vehicles
Debt Instrument [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Thereafter	1,751,546
Total	$ 1,751,546

Summary of Earliest Tax Years t

Summary of Earliest Tax Years that Remain Subject to Examination in Major Jurisdictions (Detail)	6 Months Ended
	Jun. 30, 2023
Federal \| Tax Year 2019
Income Tax Contingency [Line Items]
Open Tax Year	2019
New York City \| Tax Year 2009
Income Tax Contingency [Line Items]
Open Tax Year	2009
New York State \| Tax Year 2016
Income Tax Contingency [Line Items]
Open Tax Year	2016
United Kingdom \| Tax Year 2011
Income Tax Contingency [Line Items]
Open Tax Year	2011

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Line Items]
Net Income (Loss) Attributable to Blackstone Inc., Basic and Diluted		$ 601,274	$ (29,393)	$ 687,086	$ 1,187,481
Weighted-Average Shares of Common Stock Outstanding, Basic		758,479,943	707,382,293	752,306,729	738,752,489
Weighted-Average Shares of Unvested Deferred Restricted Common Stock		68,305	0	323,656	388,373
Weighted-Average Shares of Common Stock Outstanding, Diluted		758,548,248	707,382,293	752,630,385	739,140,862
Net Income (loss) per Share of Common Stock, Basic		$ 0.79	$ (0.04)	$ 0.91	$ 1.61
Net Income (loss) per Share of Common Stock, Diluted		0.79	(0.04)	0.91	1.61
Dividends Declared Per Share of Common Stock	[1]	$ 0.82	$ 1.32	$ 1.73	$ 2.77

[1]Dividends declared reflects the calendar date of the declaration for each distribution

Summary of Anti-Dilutive Securi

Summary of Anti-Dilutive Securities (Detail) - shares	3 Months Ended		6 Months Ended
Summary of Anti-Dilutive Securities (Detail) - shares	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Unvested Deferred Restricted Common Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-Average Units	0	35,883,883	0	0
Blackstone Partnership Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-Average Units	461,569,524	466,817,529	462,255,884	467,303,495

Schedule of Shares Eligible For

Schedule of Shares Eligible For Dividends and Distribution (Detail)	Jun. 30, 2023 shares
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	758,148,528
Shares eligible for dividends and distributions	1,219,284,210
Common Stock [Member]
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	713,551,859
Unvested Participating Common Stock [Member]
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	44,596,669
Participating Partnership Units [Member]
Stockholders Equity [Line Items]
Participating Blackstone Holdings Partnership Units	461,135,682

Earnings Per Share and Stockh_3

Earnings Per Share and Stockholder's Equity - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 07, 2021
Stockholders Equity [Line Items]
Amount remaining available for repurchases	$ 931.9		$ 931.9
Common Stock
Stockholders Equity [Line Items]
Common stock repurchased, units	1,000,000	1,900,000	2,000,000	1,900,000
Amount authorized to repurchase under unit repurchase program					$ 2,000
Common stock repurchased, cost	$ 86	$ 195.3	$ 176.1	$ 195.3

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jan. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Partnership grant units					172,161,191
Compensation expense in relation to equity-based awards	$ 260,400	$ 210,800	$ 537,781	$ 429,868
Tax benefits in relation to equity-based awards	43,800	$ 12,200	83,100	$ 72,900
Estimated unrecognized compensation expense related to unvested awards	$ 2,400,000		$ 2,400,000
Weighted-average period for recognized compensation expense related to unvested awards, years			3 years 1 month 6 days
Total vested and unvested outstanding units	1,219,294,017		1,219,294,017
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total outstanding unvested phantom units	113,882		113,882

Summary of Status of Partnershi

Summary of Status of Partnership's Unvested Equity-Based Awards (Detail)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Blackstone \| Blackstone Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance \| shares	11,029,996
Vested (Units) \| shares	(1,355,119)
Forfeited (Units) \| shares	(46,823)
Ending Balance \| shares	9,628,054
Beginning Balance \| $ / shares	$ 38.02
Vested (Weighted-Average Grant Date Fair Value) \| $ / shares	35.86
Forfeited (Weighted-Average Grant Date Fair Value) \| $ / shares	42.53
Ending Balance \| $ / shares	$ 38.34
Blackstone Group Inc. [Member] \| Equity Settled Awards Deferred Restricted Shares Of Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance \| shares	31,001,563
Granted (Units) \| shares	15,457,565
Vested (Units) \| shares	(3,291,391)
Forfeited (Units) \| shares	(452,129)
Ending Balance \| shares	42,715,608
Beginning Balance \| $ / shares	$ 82.94
Granted (Weighted-Average Grant Date Fair Value) \| $ / shares	85.14
Vested (Weighted-Average Grant Date Fair Value) \| $ / shares	81.28
Forfeited (Weighted-Average Grant Date Fair Value) \| $ / shares	88.44
Ending Balance \| $ / shares	$ 83.82
Blackstone Group Inc. [Member] \| Cash Settled Awards Phantom Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance \| shares	48,886
Granted (Units) \| shares	61,534
Vested (Units) \| shares	(3,461)
Forfeited (Units) \| shares	0
Ending Balance \| shares	106,959
Beginning Balance \| $ / shares	$ 85.04
Granted (Weighted-Average Grant Date Fair Value) \| $ / shares	91.79
Vested (Weighted-Average Grant Date Fair Value) \| $ / shares	89.78
Forfeited (Weighted-Average Grant Date Fair Value) \| $ / shares	0
Ending Balance \| $ / shares	$ 90.52

Unvested Shares and Units, Afte

Unvested Shares and Units, After Expected Forfeitures (Detail)	6 Months Ended
	Jun. 30, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Blackstone Holdings Partnership Units	9,670,998
Deferred Restricted Shares of Common Stock	37,435,792
Total Equity-Based Awards	47,106,790
Phantom Shares	88,674
Blackstone Holdings Partnership Units (Weighted-Average Service Period in Years)	9 months 18 days
Deferred Restricted Shares of Common Stock (Weighted-Average Service in Years)	3 years 7 months 6 days
Total Equity-Based Awards (Weighted-Average Service Period in Years)	3 years
Phantom Shares (Weighted-Average Service Period in Years)	4 years 6 months

Due from Affiliates and Due to

Due from Affiliates and Due to Affiliates (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated Entities and Portfolio Companies	$ 3,445,194	$ 3,344,813
Due from Certain Non-Controlling Interest Holders and Blackstone Employees	778,811	741,319
Accrual for Potential Clawback of Previously Distributed Performance Allocations	70,432	60,575
Due from Affiliates, total	4,294,437	4,146,707
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements	1,591,177	1,602,933
Due to Non-Consolidated Entities	191,458	157,982
Due to Certain Non-Controlling Interest Holders and Blackstone Employees	111,548	198,875
Accrual for Potential Repayment of Previously Received Performance Allocations	198,654	158,691
Due to Affiliates, total	2,092,837	2,118,481
Related Party [Member]
Related Party Transaction [Line Items]
Due from Affiliates, total	4,294,437	4,146,707
Due to Affiliates, total	$ 2,092,837	$ 2,118,481

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Investments	$ 27,048,621		$ 27,048,621		$ 27,553,251
Cash saving in tax receivable agreements, percentage			85%
Expected future payments under the tax receivable agreements	1,600,000		$ 1,600,000
Expected future payments under the tax receivable agreements in years			15 years
After-tax net present value estimated payments	$ 484,300		$ 484,300
After-tax net present value discount rate assumption	15%		15%
Founder, senior managing directors, employees and certain other related parties
Related Party Transaction [Line Items]
Net Income Attributable to Non-Controlling Interests	$ 32,200	$ (74,800)	$ 54,400	$ (10,400)
Founder, senior managing directors, employees and certain other related parties \| Consolidated Blackstone Funds
Related Party Transaction [Line Items]
Investments	$ 1,700,000		$ 1,700,000		$ 1,600,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Schedule Of Commitments And Contingencies [Line Items]
General partner capital funding	$ 4,600
Total investments at risk in respect of guarantees extended	$ 14.6
Contingent obligations currently anticipated to expire end	2032
Provision for cash clawback	$ 1,100
Contingent Obligations (Clawback)	6,400
Loss contingency accrual, payments	6.5
Blackstone Real Estate Investment Trust or BREIT [Member]
Schedule Of Commitments And Contingencies [Line Items]
Common stock, value, subscriptions	4,500
Investments Pledged fair value	$ 1,100
Percentage of incremental cash payment In excess of target return	5%
Security owned and pledged as collateral, associated liabilities, fair value	$ 221.5
Blackstone Real Estate Investment Trust or BREIT [Member] \| University of California [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage of targeted annualized net return	11.25%
Cost of the investment	$ 4,500
Blackstone Holdings
Schedule Of Commitments And Contingencies [Line Items]
Loans held By employees for investment guaranteed	78.1
Contingent Obligations (Clawback)	6,000
Loss contingency accrual, payments	4.2
Current And Former Blackstone Personnel
Schedule Of Commitments And Contingencies [Line Items]
Loss contingency accrual, payments	2.3
Consolidated Blackstone Funds
Schedule Of Commitments And Contingencies [Line Items]
Funds signed investment commitments	97.1
Consolidated Blackstone Funds \| Portfolio Company Acquisition
Schedule Of Commitments And Contingencies [Line Items]
Signed investment commitments for portfolio company acquisitions in process of closing	$ 45

Clawback Obligations by Segment

Clawback Obligations by Segment (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Product Liability Contingency [Line Items]
Clawback obligations	[1]	$ 198,654	$ 158,691
Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		129,109	98,146
Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	69,545	60,545
Hedge Fund Solutions
Product Liability Contingency [Line Items]
Clawback obligations	[1]	17,138	0
Hedge Fund Solutions \| Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		18,040	0
Hedge Fund Solutions \| Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	(902)	0
Real Estate Segment
Product Liability Contingency [Line Items]
Clawback obligations	[1]	135,336	130,415
Real Estate Segment \| Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		82,324	78,644
Real Estate Segment \| Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	53,012	51,771
Private Equity Segment
Product Liability Contingency [Line Items]
Clawback obligations	[1]	45,726	27,848
Private Equity Segment \| Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		28,558	19,279
Private Equity Segment \| Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	17,168	8,569
Credit & Insurance
Product Liability Contingency [Line Items]
Clawback obligations	[1]	454	428
Credit & Insurance \| Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		187	223
Credit & Insurance \| Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	$ 267	$ 205

[1]Total is a component of Due to Affiliates. See Note 16. “Related Party Transactions — Affiliate Receivables and Payables — Due to Affiliates.”[2]The split of clawback between Blackstone Holdings and Current and Former Personnel is based on the performance of individual investments held by a fund rather than on a fund by fund basis.

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - Segment	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Number of business segments	4	4	4	4

Financial Data of Segments (Det

Financial Data of Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Fee Related Performance Revenues	$ 266,738	$ 346,593	$ 414,982	$ 904,658
Realized Performance Revenues	655,161	2,553,367	1,444,931	4,424,242
Realized Performance Compensation	269,423	1,081,279	629,498	1,839,899
Operating Segments
Segment Reporting Information [Line Items]
Base Management Fees	1,620,609	1,496,876	3,240,156	2,936,025
Transaction, Advisory and Other Fees, Net	92,735	85,092	138,445	149,101
Management Fee Offsets	(10,158)	(25,051)	(23,028)	(54,841)
Total Management and Advisory Fees, Net	1,703,186	1,556,917	3,355,573	3,030,285
Fee Related Performance Revenues	266,738	346,593	414,982	904,658
Fee Related Compensation	(568,808)	(621,413)	(1,077,779)	(1,291,884)
Other Operating Expenses	(257,366)	(261,510)	(509,014)	(475,608)
Fee Related Earnings	1,143,750	1,020,587	2,183,762	2,167,451
Realized Performance Revenues	388,423	2,206,774	1,029,949	3,519,584
Realized Performance Compensation	(178,370)	(926,974)	(474,394)	(1,446,094)
Realized Principal Investment Income (Loss)	(7,461)	43,509	36,230	200,604
Total Net Realizations	202,592	1,323,309	591,785	2,274,094
Total Segment Distributable Earnings	1,346,342	2,343,896	2,775,547	4,441,545
Segment Assets	36,607,709		36,607,709
Operating Segments \| Real Estate Segment
Segment Reporting Information [Line Items]
Base Management Fees	709,977	611,751	1,415,364	1,191,937
Transaction, Advisory and Other Fees, Net	27,066	46,974	47,627	87,459
Management Fee Offsets	(8,307)	(689)	(18,764)	(1,649)
Total Management and Advisory Fees, Net	728,736	658,036	1,444,227	1,277,747
Fee Related Performance Revenues	131,299	265,507	152,047	757,024
Fee Related Compensation	(199,006)	(273,893)	(336,616)	(618,735)
Other Operating Expenses	(71,949)	(88,329)	(146,130)	(154,332)
Fee Related Earnings	589,080	561,321	1,113,528	1,261,704
Realized Performance Revenues	119,721	1,997,720	130,817	2,800,636
Realized Performance Compensation	(69,593)	(831,402)	(72,758)	(1,121,433)
Realized Principal Investment Income (Loss)	(70)	29,116	2,154	83,091
Total Net Realizations	50,058	1,195,434	60,213	1,762,294
Total Segment Distributable Earnings	639,138	1,756,755	1,173,741	3,023,998
Segment Assets	14,049,551		14,049,551
Operating Segments \| Private Equity Segment
Segment Reporting Information [Line Items]
Base Management Fees	443,012	433,459	894,622	854,931
Transaction, Advisory and Other Fees, Net	48,825	27,551	63,609	40,209
Management Fee Offsets	(766)	(23,157)	(2,076)	(50,299)
Total Management and Advisory Fees, Net	491,071	437,853	956,155	844,841
Fee Related Performance Revenues	0	0	0	(648)
Fee Related Compensation	(155,680)	(152,622)	(317,306)	(303,672)
Other Operating Expenses	(74,403)	(83,233)	(151,166)	(150,977)
Fee Related Earnings	260,988	201,998	487,683	389,544
Realized Performance Revenues	147,176	122,884	646,498	573,122
Realized Performance Compensation	(62,641)	(57,380)	(295,575)	(264,083)
Realized Principal Investment Income (Loss)	3,967	8,904	36,856	74,342
Total Net Realizations	88,502	74,408	387,779	383,381
Total Segment Distributable Earnings	349,490	276,406	875,462	772,925
Segment Assets	13,586,079		13,586,079
Operating Segments \| Hedge Fund Solutions Segment
Segment Reporting Information [Line Items]
Base Management Fees	132,312	145,077	268,083	290,123
Transaction, Advisory and Other Fees, Net	1,842	3,450	3,756	4,919
Management Fee Offsets	(29)	(40)	(31)	(109)
Total Management and Advisory Fees, Net	134,125	148,487	271,808	294,933
Fee Related Performance Revenues	0	0	0	0
Fee Related Compensation	(45,888)	(57,863)	(91,624)	(105,098)
Other Operating Expenses	(29,639)	(26,066)	(56,105)	(49,250)
Fee Related Earnings	58,598	64,558	124,079	140,585
Realized Performance Revenues	79,182	7,197	85,109	36,110
Realized Performance Compensation	(28,565)	(2,083)	(31,718)	(11,083)
Realized Principal Investment Income (Loss)	7,998	(1,530)	10,567	13,371
Total Net Realizations	58,615	3,584	63,958	38,398
Total Segment Distributable Earnings	117,213	68,142	188,037	178,983
Segment Assets	2,619,493		2,619,493
Operating Segments \| Credit & Insurance Segment
Segment Reporting Information [Line Items]
Base Management Fees	335,308	306,589	662,087	599,034
Transaction, Advisory and Other Fees, Net	15,002	7,117	23,453	16,514
Management Fee Offsets	(1,056)	(1,165)	(2,157)	(2,784)
Total Management and Advisory Fees, Net	349,254	312,541	683,383	612,764
Fee Related Performance Revenues	135,439	81,086	262,935	148,282
Fee Related Compensation	(168,234)	(137,035)	(332,233)	(264,379)
Other Operating Expenses	(81,375)	(63,882)	(155,613)	(121,049)
Fee Related Earnings	235,084	192,710	458,472	375,618
Realized Performance Revenues	42,344	78,973	167,525	109,716
Realized Performance Compensation	(17,571)	(36,109)	(74,343)	(49,495)
Realized Principal Investment Income (Loss)	(19,356)	7,019	(13,347)	29,800
Total Net Realizations	5,417	49,883	79,835	90,021
Total Segment Distributable Earnings	240,501	$ 242,593	538,307	$ 465,639
Segment Assets	$ 6,352,586		$ 6,352,586

Reconciliation of Total Segment

Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes and Total Assets (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Revenues		$ 2,814,691	$ 629,220	$ 4,196,536	$ 5,755,500
Less: Unrealized Principal Investment (Income) Loss		164,089	(500,490)	(327,328)	(426,529)
Total Expenses		1,475,310	744,113	2,664,655	2,941,135
Total Other Income (Loss)		87,595	(104,339)	153,451	(52,702)
Total Other Income		0	0	0	0
Total GAAP Income (Loss) Before Provision for Taxes		1,426,976	(219,232)	1,685,332	2,761,663
Less: Unrealized Principal Investment (Income) Loss		164,089	(500,490)	(327,328)	(426,529)
Total Assets		41,582,784		41,582,784		$ 42,524,227
Operating Segments
Segment Reporting Information [Line Items]
Total Revenues	[1]	2,350,886	4,153,793	4,836,734	7,655,131
Total Expenses	[2]	1,004,544	1,809,897	2,061,187	3,213,586
Total Segment Distributable Earnings		1,346,342	2,343,896	2,775,547	4,441,545
Total Assets		36,607,709		36,607,709
Consolidation Adjustments and Reconciling Items
Segment Reporting Information [Line Items]
Less: Unrealized Performance Revenues	[3]	(114,379)	3,467,668	644,937	2,174,618
Less: Unrealized Principal Investment (Income) Loss	[4]	(160,702)	203,288	318,418	176,530
Less: Interest and Dividend Revenue	[5]	(153,240)	(66,143)	(248,341)	(120,628)
Less: Other Revenue	[6]	31,718	(155,704)	45,898	(228,523)
Impact of Consolidation	[7]	(60,408)	75,099	(119,395)	(102,497)
Transaction-Related Charges	[8]	(7,461)	(237)	(2,673)	(1,450)
Less: Unrealized Performance Allocations Compensation	[9]	(54,155)	1,386,543	259,094	914,259
Less: Equity-Based Compensation	[10]	(249,755)	(195,644)	(517,889)	(397,189)
Less: Interest Expense	[11]	(107,130)	(69,425)	(211,339)	(136,027)
Impact of Consolidation	[7]	(40,879)	(11,394)	(97,553)	(19,200)
Amortization of Intangibles	[12]	(7,412)	(17,044)	(18,753)	(34,088)
Transaction-Related Charges	[8]	(9,689)	(25,378)	(13,522)	(51,924)
Administrative Fee Adjustment	[13]	2,413	2,476	4,860	4,961
Less: Unrealized Performance Revenues	[3]	(114,379)	3,467,668	644,937	2,174,618
Less: Unrealized Principal Investment (Income) Loss	[4]	(160,702)	203,288	318,418	176,530
Less: Interest and Dividend Revenue	[5]	(153,240)	(66,143)	(248,341)	(120,628)
Less: Other Revenue	[6]	31,718	(155,704)	45,898	(228,523)
Plus: Unrealized Performance Allocations Compensation	[9]	54,155	(1,386,543)	(259,094)	(914,259)
Plus: Equity-Based Compensation	[10]	249,755	195,644	517,889	397,189
Plus: Interest Expense	[11]	107,130	69,425	211,339	136,027
Amortization of Intangibles	[12]	7,412	17,044	18,753	34,088
Transaction-Related Charges	[8]	2,228	25,141	10,849	50,474
Administrative Fee Adjustment	[13]	2,413	2,476	4,860	4,961
Segment Adjustment
Segment Reporting Information [Line Items]
Intersegment Eliminations		667	602	1,354	1,581
Intersegment Eliminations		667	602	1,354	1,581
Impact of Consolidation
Segment Reporting Information [Line Items]
Total Other Income	[7]	(87,595)	104,339	(153,451)	52,702
Impact of Consolidation	[7]	(107,124)	$ 190,832	(175,293)	$ (30,595)
Total Assets	[7]	$ (4,975,075)		$ (4,975,075)

[1]Total Segment Revenues is comprised of the following:[2]Total Segment Expenses is comprised of the following:[3]This adjustment removes Unrealized Performance Revenues on a segment basis.[4]This adjustment removes Unrealized Principal Investment Income (Loss) on a segment basis.[5]This adjustment removes Interest and Dividend Revenue on a segment basis.[6]This adjustment removes Other Revenue on a segment basis. For the three months ended June 30, 2023 and 2022, Other Revenue on a GAAP basis was $(31.7) million and $155.6 million, and included $(32.0) million and $155.5 million of foreign exchange gains (losses), respectively. For the six months ended June 30, 2023 and 2022, Other Revenue on a GAAP basis was $(45.8) million and $228.5 million, and included $(46.7) million and $228.2 million of foreign exchange gains (losses), respectively.[7]This adjustment reverses the effect of consolidating Blackstone Funds, which are excluded from Blackstone’s segment presentation. This adjustment includes the elimination of Blackstone’s interest in these funds, the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling interests.[8]This adjustment removes Transaction-Related Charges, which are excluded from Blackstone’s segment presentation. Transaction-Related Charges arise from corporate actions including acquisitions, divestitures, and Blackstone’s initial public offering. They consist primarily of equity-based compensation charges, gains and losses on contingent consideration arrangements, changes in the balance of the Tax Receivable Agreement resulting from a change in tax law or similar event, transaction costs and any gains or losses associated with these corporate actions.[9]This adjustment removes Unrealized Performance Allocations Compensation.[10]This adjustment removes Equity-Based Compensation on a segment basis.[11]This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement.[12]This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation.[13]This adjustment adds an amount equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units. The administrative fee is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation.

Reconciliation of Total Segme_2

Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes and Total Assets (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total Segment Fee Related Performance Revenues		$ 266,738	$ 346,593	$ 414,982	$ 904,658
Total Segment Realized Performance Revenues		655,161	2,553,367	1,444,931	4,424,242
Total Segment Realized Performance Compensation		(269,423)	(1,081,279)	(629,498)	(1,839,899)
Total Segment Other Operating Expenses		(31,664)	155,588	(45,818)	228,457
Foreign exchange gains (losses)		(32,000)	155,500	(46,700)	228,200
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Management and Advisory Fees, Net		1,703,186	1,556,917	3,355,573	3,030,285
Total Segment Fee Related Performance Revenues		266,738	346,593	414,982	904,658
Total Segment Realized Performance Revenues		388,423	2,206,774	1,029,949	3,519,584
Total Segment Realized Principal Investment Income (Loss)		(7,461)	43,509	36,230	200,604
Total Revenues	[1]	2,350,886	4,153,793	4,836,734	7,655,131
Total Segment Fee Related Compensation		568,808	621,413	1,077,779	1,291,884
Total Segment Realized Performance Compensation		178,370	926,974	474,394	1,446,094
Total Segment Other Operating Expenses		257,366	261,510	509,014	475,608
Total Expenses	[2]	$ 1,004,544	$ 1,809,897	$ 2,061,187	$ 3,213,586

[1]Total Segment Revenues is comprised of the following:[2]Total Segment Expenses is comprised of the following:

Reconciliation of Total Segme_3

Reconciliation of Total Segments to Reported on the Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	[1]	$ (6,184)	$ (4,270)	$ (12,112)	$ (6,838)
Investment Income - Realized Performance Allocations		502,084	2,453,769	1,148,978	4,220,155
Realized Performance Revenues		266,738	346,593	414,982	904,658
Compensation and Benefits Compensation		737,017	686,012	1,453,302	1,342,517
Incentive Fee Compensation		64,227	45,363	127,508	86,382
Realized Performance Allocations Compensation		205,196	1,035,916	501,990	1,753,517
Realized Performance Revenues		655,161	2,553,367	1,444,931	4,424,242
Total Compensation and Benefits		1,006,440	1,767,291	2,082,800	3,182,416
General, Administrative and Other		275,034	289,288	548,428	529,962
General, Administrative and Other	[2]	(17,668)	(27,778)	(39,414)	(54,354)
Investment Income - Realized Performance Allocations		502,084	2,453,769	1,148,978	4,220,155
Realized Performance Revenues		655,161	2,553,367	1,444,931	4,424,242
Realized Performance Compensation		269,423	1,081,279	629,498	1,839,899
Investment Income Realized		54,835	265,161	162,893	550,265
Investment Income Realized	[3]	(62,296)	(221,652)	(126,663)	(349,661)
Segment Adjustment	[4]	(9,507)	(23,260)	(12,738)	(47,249)
Less: Fee Related Performance Compensation	[5]	(87,743)	(150,430)	(148,814)	(388,772)
Total Segment		(269,423)	(1,081,279)	(629,498)	(1,839,899)
Management and Advisory Fees, Net
Segment Reporting Information [Line Items]
Revenues		1,709,370	1,561,187	3,367,685	3,037,123
Incentive Fees
Segment Reporting Information [Line Items]
Revenues		153,077	99,598	295,953	204,087
Operating Segments
Segment Reporting Information [Line Items]
Revenues		1,703,186	1,556,917	3,355,573	3,030,285
Realized Performance Revenues		266,738	346,593	414,982	904,658
Realized Performance Revenues		388,423	2,206,774	1,029,949	3,519,584
Realized Performance Revenues		(266,738)	(346,593)	(414,982)	(904,658)
General, Administrative and Other		257,366	261,510	509,014	475,608
Realized Performance Revenues		388,423	2,206,774	1,029,949	3,519,584
Less: Realized Performance Revenues		(388,423)	(2,206,774)	(1,029,949)	(3,519,584)
Realized Performance Compensation		(178,370)	(926,974)	(474,394)	(1,446,094)
Investment Income Realized		(7,461)	43,509	36,230	200,604
Less: Equity-Based Compensation - Operating Compensation		(246,445)	(191,769)	(511,599)	(392,156)
Less: Equity-Based Compensation - Performance Compensation		(3,310)	(3,875)	(6,290)	(5,033)
Total Compensation and Benefits		568,808	621,413	1,077,779	1,291,884
Less: Equity-Based Compensation - Performance Compensation		(3,310)	(3,875)	(6,290)	(5,033)
Total Segment		178,370	926,974	474,394	1,446,094
Operating Segments \| Management and Advisory Fees, Net
Segment Reporting Information [Line Items]
Revenues		$ 1,703,186	$ 1,556,917	$ 3,355,573	$ 3,030,285

[1]Represents (1) the add back of net management fees earned from consolidated Blackstone Funds which have been eliminated in consolidation, and (2) the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures.[2]Represents the (1) removal of amortization of transaction-related intangibles, (2) removal of certain expenses reimbursed by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and (3) a reduction equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units which is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation.[3]Represents (1) the add back of Principal Investment Income, including general partner income, earned from consolidated Blackstone Funds which have been eliminated in consolidation, and (2) the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling interests.[4]Represents the removal of Transaction-Related Charges that are not recorded in the Total Segment measures.[5]Fee related performance compensation may include equity-based compensation based on fee related performance revenues