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King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone Audiobook

Extended Audio Sample King of Capital: The Remarkable Rise, Fall, and Rise Again of Steve Schwarzman and Blackstone, by David Carey, John E. Morris Click for printable size audiobook cover
3 out of 53 out of 53 out of 53 out of 53 out of 5 3.00 (175 ratings) (rate this audio book) Author: David Carey, John E. Morris Narrator: George K. Wilson Publisher: Tantor Format: Unabridged Audiobook Delivery: Instant Download Audio Length: Release Date:
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The financial establishment—banks and investment bankers such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, and Morgan Stanley—were the cowboys, recklessly assuming risks, leveraging up to astronomical levels, and driving the economy to the brink of disaster. In King of Capital, David Carey and John E. Morris show how Blackstone (and other private equity firms) transformed themselves from gamblers, hostile-takeover artists, and “barbarians at the gate” into disciplined, risk-conscious investors. This is the greatest untold success story on Wall Street. Not only have Blackstone and a small coterie of competitors wrested control of corporations around the globe, they have emerged as a major force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. And since it is sitting on billions of dollars that can be invested at a time when the market is starved for capital, Blackstone is now ready to break out once again.

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

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Quotes & Awards

  • "King of Capital aspires to be a serious portrait of Blackstone and the way that Schwarzman so brilliantly built it up, scoring numerous coups along the way and avoiding the mistakes of many competitors. And it does a fine job in what it sets out to do.”

    Financial Times

  • “The authors link Blackstone’s history to the larger story of private equity’s expansion and its relationship to corporate America. They offer a lucid explanation of how the debt markets evolved from junk bonds to securitised loans, changing the types of deals that private-equity firms were able to finance.”

    Economist

Listener Reviews

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Review by Marc | 8/11/2013

    " Good history of Blackstone and the Private Equity world (at least in the US). "

  • 2 out of 52 out of 52 out of 52 out of 52 out of 5 Review by Joanna | 7/10/2013

    " Great history of PE - relevant, current, focused on Blackstone but also discusses competitors when relevant. Felt a little long winded and disorganized, and I wouldn't read it again. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Review by Brentley Campbell | 3/7/2013

    " Great walk through of some of the history of private equity "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Review by Nicholas | 2/25/2013

    " Super fun read. Very interesting look into the history of private equity, with decent profiling of the larger-than-life personalities involved. The level of detail and context was nowhere near the depth of Barbarians at the Gate though. "

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About the Author

David Carey is a senior writer for the Deal, a news service and magazine covering private equity and mergers and acquisitions. Before joining the Deal, he was the editor of Corporate Finance magazine and wrote for Adweek, Fortune, Institutional Investor, and Financial World. Carey has followed the buyout industry for more than fifteen years. He is a frequent guest on CNBC and is often quoted about private equity in the general business press.

About the Narrator

George K. Wilson is a working actor in stage, film, television, and commercials with almost one hundred audiobook narrations to his credit. He began in broadcast journalism with American Forces Radio and Television and is a graduate of the American Academy of Dramatic Arts. He had a lead role in the cult film classic Attack of the Killer Tomatoes and appeared on television’s One Life to Live, Ryan’s Hope, and The Doctors and has been heard on voice-overs for The Guiding Light and The Cosby Show, as well as many television and radio commercials.