Blackstone (BX) 10-K 24 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Trading Symbol	BX
Entity Registrant Name	Blackstone Inc
Entity Central Index Key	0001393818
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
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 Annual Report	true
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Shell Company	false
Entity Voluntary Filers	No
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 Public Float			$ 63.7
ICFR Auditor Attestation Flag	true
Entity Common Stock, Shares Outstanding		706,369,856
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34
Auditor Location	New York

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and Cash Equivalents	$ 4,252,003	$ 2,119,738
Cash Held by Blackstone Funds and Other	241,712	79,994
Investments	27,553,251	28,665,043
Accounts Receivable	462,904	636,616
Due from Affiliates	4,146,707	4,656,867
Intangible Assets, Net	217,287	284,384
Goodwill	1,890,202	1,890,202
Other Assets	800,458	492,936
Right-of-Use Assets	896,981	788,991
Deferred Tax Assets	2,062,722	1,581,637
Total Assets	42,524,227	41,196,408
Liabilities and Equity
Loans Payable	12,349,584	7,748,163
Due to Affiliates	2,118,481	1,906,098
Accrued Compensation and Benefits	6,101,801	7,905,070
Securities Sold, Not Yet Purchased	3,825	27,849
Repurchase Agreements	89,944	57,980
Operating Lease Liabilities	1,021,454	908,033
Accounts Payable, Accrued Expenses and Other Liabilities	1,158,071	937,169
Total Liabilities	22,843,160	19,490,362
Commitments and Contingencies
Redeemable Non-Controlling Interests in Consolidated Entities	1,715,006	68,028
Stockholders' Equity of Blackstone Inc.
Common Stock, $0.00001 par value, 90 billion shares authorized, (710,276,923 shares issued and outstanding as of December 31, 2022; 704,339,774 shares issued and outstanding as of December 31, 2021)	7	7
Additional Paid-in-Capital	5,935,273	5,794,727
Retained Earnings	1,748,106	3,647,785
Accumulated Other Comprehensive Loss	(27,475)	(19,626)
Total Stockholders' Equity of Blackstone Inc.	7,655,911	9,422,893
Non-Controlling Interests in Consolidated Entities	5,056,480	5,600,653
Non-Controlling Interests in Blackstone Holdings	5,253,670	6,614,472
Total Equity	17,966,061	21,638,018
Total Liabilities and Equity	42,524,227	41,196,408
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

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets	$ 42,524,227	$ 41,196,408
Liabilities	$ 22,843,160	$ 19,490,362
Common stock par value	$ 0.00001	$ 0.00001
Common shares authorized	90,000,000,000	90,000,000,000
Common shares issued	710,276,923	704,339,774
Common shares outstanding	710,276,923	704,339,774
Series I Preferred Stock [Member]
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 [Member]
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	$ 5,442,788	$ 2,177,502
Liabilities	1,558,203	145,262
Consolidated Blackstone Funds | Repurchase Agreements | Variable Interest Entity, Primary Beneficiary
Liabilities	0	15,980
Consolidated Blackstone Funds | Loans Payable | Variable Interest Entity, Primary Beneficiary
Liabilities	1,450,000	101
Securities Sold, Not Yet Purchased | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Liabilities	0	23,557
Investments | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Assets	5,136,542	2,018,829
Accounts Receivable | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Assets	55,223	64,680
Cash Held by Funds and Other | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Assets	241,712	79,994
Due from Affiliates | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Assets	7,152	13,748
Other Assets | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Assets	2,159	251
Due to Affiliates | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Liabilities	82,345	95,204
Accounts Payable, Accrued Expenses and Other Liabilities | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary
Liabilities	$ 25,858	$ 10,420

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Performance Allocations
Realized	$ 5,381,640	$ 5,653,452	$ 2,106,000
Unrealized	(3,435,056)	8,675,246	(384,393)
Principal Investments
Realized	850,327	1,003,822	391,628
Unrealized	(1,563,849)	1,456,201	(114,607)
Total Investment Income	1,233,062	16,788,721	1,998,628
Interest and Dividend Revenue	271,612	160,643	125,231
Other	184,557	203,086	(253,142)
Total Revenues	8,517,673	22,577,148	6,101,927
Expenses
Compensation and Benefits Compensation	2,569,780	2,161,973	1,855,619
Incentive Fee Compensation	207,998	98,112	44,425
Performance Allocations Compensation
Realized	2,225,264	2,311,993	843,230
Unrealized	(1,470,588)	3,778,048	(154,516)
Total Compensation and Benefits	3,532,454	8,350,126	2,588,758
General, Administrative and Other	1,092,671	917,847	711,782
Interest Expense	317,225	198,268	166,162
Fund Expenses	30,675	10,376	12,864
Total Expenses	4,973,025	9,476,617	3,479,566
Other Income (Loss)
Change in Tax Receivable Agreement Liability	22,283	(2,759)	(35,383)
Net Gains (Losses) from Fund Investment Activities	(105,142)	461,624	30,542
Total Other Income (Loss)	(82,859)	458,865	(4,841)
Income Before Provision for Taxes	3,461,789	13,559,396	2,617,520
Provision for Taxes	472,880	1,184,401	356,014
Net Income (Loss)	2,988,909	12,374,995	2,261,506
Net Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities	(142,890)	5,740	(13,898)
Net Income Attributable to Non-Controlling Interests in Consolidated Entities	107,766	1,625,306	217,117
Net Income Attributable to Non-Controlling Interests in Blackstone Holdings	1,276,402	4,886,552	1,012,924
Net Income Attributable to Blackstone Inc.	$ 1,747,631	$ 5,857,397	$ 1,045,363
Net Income Per Share of Common Stock
Basic	$ 2.36	$ 8.14	$ 1.5
Diluted	$ 2.36	$ 8.13	$ 1.5
Weighted-Average Shares of Common Stock Outstanding
Basic	740,664,038	719,766,879	696,933,548
Diluted	740,942,399	720,125,043	697,258,296
Management and Advisory Fees, Net
Revenues
Revenues	$ 6,303,315	$ 5,170,707	$ 4,092,549
Incentive Fees
Revenues
Revenues	$ 525,127	$ 253,991	$ 138,661

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Income	$ 2,988,909	$ 12,374,995	$ 2,261,506
Other Comprehensive Income (Loss) - Currency Translation Adjustment	(32,523)	(5,814)	23,199
Comprehensive Income	2,956,386	12,369,181	2,284,705
Comprehensive Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities	(163,263)	5,740	(13,898)
Comprehensive Income Attributable to Non-Controlling Interests in Consolidated Entities	107,766	1,625,306	217,117
Comprehensive Income Attributable to Non-Controlling Interests in Blackstone Holdings	1,272,101	4,884,533	1,023,459
Comprehensive Income Attributable to Non-Controlling Interests	1,216,604	6,515,579	1,226,678
Comprehensive Income Attributable to Blackstone Inc.	$ 1,739,782	$ 5,853,602	$ 1,058,027

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) $ in Thousands		Total	Common Units	Common Stock		Additional Paid-in Capital		Retained Earnings (Deficit)		Accumulated Other Comprehensive Income (Loss)		Parent		Noncontrolling Interest Consolidated Entities	Noncontrolling Interest Blackstone Holdings
Beginning Balance at Dec. 31, 2019		$ 15,015,401		$ 7	[1]	$ 6,428,647	[1]	$ 609,625	[1]	$ (28,495)	[1]	$ 7,009,784	[1]	$ 4,186,069	$ 3,819,548
Beginning Balance, Units at Dec. 31, 2019	[1]		671,157,692
Beginning Balance at Dec. 31, 2019		87,651
Transfer Out Due to Deconsolidation of Fund Entities		(216,339)												(216,339)
Net Income (Loss)		2,275,404						1,045,363	[1]			1,045,363	[1]	217,117	1,012,924
Net Income (Loss)		(13,898)
Currency Translation Adjustment		23,199								12,664	[1]	12,664	[1]		10,535
Capital Contributions		605,487												600,222	5,265
Capital Distributions		(3,129,739)						(1,319,226)	[1]			(1,319,226)	[1]	(738,899)	(1,071,614)
Capital Distributions		(8,592)
Transfer of Non-Controlling Interests in Consolidated Entities		(6,013)												(6,013)
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		23,327				23,327	[1]					23,327	[1]
Equity-Based Compensation		439,533				250,850	[1]					250,850	[1]		188,683
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(30,906)				(30,899)	[1]					(30,899)	[1]		(7)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]		2,905,220
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(474,006)				(474,006)	[1]					(474,006)	[1]
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]		(8,969,237)
Change in Blackstone Inc.'s Ownership Interest		(10,476)				10,476	[1]					10,476	[1]		(10,476)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						123,710	[1]					123,710	[1]		(123,710)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]		18,781,869
Ending Balance at Dec. 31, 2020		14,525,348		7	[1],[2]	6,332,105	[1],[2]	335,762	[1],[2]	(15,831)	[1],[2]	6,652,043	[1],[2]	4,042,157	3,831,148
Ending Balance, Units at Dec. 31, 2020	[1],[2]		683,875,544
Ending Balance at Dec. 31, 2020		65,161
Net Income (Loss)		12,369,255						5,857,397	[2]			5,857,397	[2]	1,625,306	4,886,552
Net Income (Loss)		5,740
Currency Translation Adjustment		(5,814)								(3,795)	[2]	(3,795)	[2]		(2,019)
Capital Contributions		1,291,125												1,280,938	10,187
Capital Distributions		(5,957,515)						(2,545,374)	[2]			(2,545,374)	[2]	(1,344,754)	(2,067,387)
Capital Distributions		(2,873)
Transfer of Non-Controlling Interests in Consolidated Entities		(2,994)												(2,994)
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		58,788				58,788	[2]					58,788	[2]
Equity-Based Compensation		632,599				369,517	[2]					369,517	[2]		263,082
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(56,120)				(56,120)	[2]					(56,120)	[2]		0
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[2]		3,982,712
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(1,216,654)				(1,216,654)	[2]					(1,216,654)	[2]
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[2]		(10,268,444)
Change in Blackstone Inc.'s Ownership Interest		(10,494)				10,494	[2]					10,494	[2]		(10,494)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						296,597	[2]					296,597	[2]		(296,597)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[2]		26,749,962
Ending Balance at Dec. 31, 2021		21,638,018		7	[2]	5,794,727	[2]	3,647,785	[2]	(19,626)	[2]	9,422,893	[2]	5,600,653	6,614,472
Ending Balance, Units at Dec. 31, 2021	[2]		704,339,774
Ending Balance at Dec. 31, 2021		68,028
Transfer In Due To Consolidation Of Fund Entities		1,146,410
Net Income (Loss)		3,131,799						1,747,631	[2]			1,747,631	[2]	107,766	1,276,402
Net Income (Loss)		(142,890)
Currency Translation Adjustment		(12,150)								(7,849)	[2]	(7,849)	[2]		(4,301)
Currency Translation Adjustment		(20,373)
Capital Contributions		555,693
Capital Contributions		749,528												739,660	9,868
Capital Distributions		(7,620,451)						(3,647,310)	[2]			(3,647,310)	[2]	(1,091,798)	(2,881,343)
Capital Distributions		(180,200)
Transfer of Non-Controlling Interests in Consolidated Entities		(299,801)												(299,801)
Transfer of Non-Controlling Interests in Consolidated Entities		288,338
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		6,690				6,690	[2]					6,690	[2]
Equity-Based Compensation		838,383				504,738	[2]					504,738	[2]		333,645
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(73,987)				(73,987)	[2]					(73,987)	[2]		0
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[2]		5,407,340
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(391,968)				(391,968)	[2]					(391,968)	[2]
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[2]		(3,850,000)
Change in Blackstone Inc.'s Ownership Interest		(36,824)				36,824	[2]					36,824	[2]		(36,824)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						58,249	[2]					58,249	[2]		(58,249)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[2]		4,379,809
Ending Balance at Dec. 31, 2022		17,966,061		$ 7	[2]	$ 5,935,273	[2]	$ 1,748,106	[2]	$ (27,475)	[2]	$ 7,655,911	[2]	$ 5,056,480	$ 5,253,670
Ending Balance, Units at Dec. 31, 2022	[2]		710,276,923
Ending Balance at Dec. 31, 2022		$ 1,715,006
[1]Following the conversion to a corporation, 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. After initial issuance, there have been no changes to the amounts related to Series I and Series II preferred stock during the period presented.[2]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.

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Series I Preferred Stock [Member]
Conversion Of Stocks	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

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Activities
Net Income	$ 2,988,909	$ 12,374,995	$ 2,261,506
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Net Realized Gains on Investments	(6,474,051)	(6,949,544)	(2,468,801)
Changes in Unrealized (Gains) Losses on Investments	1,828,364	(1,748,824)	54,244
Non-Cash Performance Allocations	3,435,055	(8,675,246)	384,393
Non-Cash Performance Allocations and Incentive Fee Compensation	931,288	6,159,529	715,587
Equity-Based Compensation Expense	846,349	637,441	438,341
Amortization of Intangibles	67,097	74,871	71,053
Other Non-Cash Amounts Included in Net Income	(1,341,059)	(77,849)	58,854
Cash Flows Due to Changes in Operating Assets and Liabilities
Cash Acquired with Consolidation of Fund Entity	31,791	0	0
Cash Relinquished with Deconsolidation of Fund Entities	0	0	(257,544)
Accounts Receivable	177,832	288,306	70,053
Due from Affiliates	654,290	(1,124,667)	(402,488)
Other Assets	(26,853)	(4,792)	(22,704)
Accrued Compensation and Benefits	(2,197,446)	(1,692,562)	(1,077,195)
Securities Sold, Not Yet Purchased	(22,964)	(22,418)	(26,840)
Accounts Payable, Accrued Expenses and Other Liabilities	149,019	152,209	119,906
Repurchase Agreements	31,964	(18,828)	(77,310)
Due to Affiliates	117,219	81,922	32,415
Investments Purchased	(5,228,723)	(7,439,964)	(7,179,951)
Cash Proceeds from Sale of Investments	10,368,172	11,971,409	9,242,426
Net Cash Provided by Operating Activities	6,336,253	3,985,988	1,935,945
Investing Activities
Purchase of Furniture, Equipment and Leasehold Improvements	(235,497)	(64,316)	(111,650)
Net Cash Paid for Acquisitions, Net of Cash Acquired	0	0	(55,170)
Net Cash Used in Investing Activities	(235,497)	(64,316)	(166,820)
Financing Activities
Distributions to Non-Controlling Interest Holders in Consolidated Entities	(1,271,907)	(1,347,631)	(747,491)
Contributions from Non-Controlling Interest Holders in Consolidated Entities	1,268,297	1,275,211	581,077
Payments Under Tax Receivable Agreement	(46,880)	(51,366)	(73,881)
Net Settlement of Vested Common Stock and Repurchase of Common Stock and Blackstone Holdings Partnership Units	(465,956)	(1,272,774)	(504,912)
Proceeds from Loans Payable	3,521,544	2,222,544	888,636
Repayment and Repurchase of Loans Payable	(280,768)	0	(1,889)
Dividends/Distributions to Stockholders and Unitholders	(6,518,785)	(4,602,574)	(2,385,576)
Net Cash Used in Financing Activities	(3,794,455)	(3,776,590)	(2,244,036)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other	(12,318)	(9,806)	15,716
Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other
Net Increase (Decrease)	2,293,983	135,276	(459,195)
Beginning of Period	2,199,732	2,064,456	2,523,651
End of Period	4,493,715	2,199,732	2,064,456
Supplemental Disclosure of Cash Flows Information
Payments for Interest	261,886	194,166	176,620
Payments for Income Taxes	683,171	700,690	209,182
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Non-Cash Contributions from Non-Controlling Interest Holders	34,286	11,647	19,202
Notes Issuance Costs	30,240	16,991	8,273
Transfer of Interests to Non-Controlling Interest Holders	(11,463)	(2,994)	(6,013)
Change in Blackstone Inc.'s Ownership Interest	36,824	10,494	10,476
Net Settlement of Vested Common Stock	387,332	219,558	123,478
Conversion of Blackstone Holdings Units to Common Stock	58,249	296,597	123,710
Acquisition of Ownership Interests from Non-Controlling Interest Holders
Deferred Tax Asset	(120,167)	(807,309)	(242,282)
Due to Affiliates	113,477	748,521	218,955
Equity	$ 6,690	$ 58,788	$ 23,327

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents	$ 4,252,003	$ 2,119,738
Cash Held by Blackstone Funds and Other	241,712	79,994
Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other	$ 4,493,715	$ 2,199,732	$ 2,064,456	$ 2,523,651

Organization

Organization	12 Months Ended
	Dec. 31, 2022
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. Effective August 6, 2021, The Blackstone Group Inc. changed its name to Blackstone Inc. 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”). Effective February 26, 2021, the Certificate of Incorporation of Blackstone Inc. was amended and restated to rename Blackstone’s Class A common stock as “common stock” and reclassify Blackstone's Class B common stock and Class C common stock into a new Series I preferred stock and a new Series II preferred stock, respectively. All references to common stock, Series I preferred stock and Series II preferred stock prior to such date refer to Class A, Class B and Class C common stock, respectively. See Note 15. “Income Taxes” and Note 16. “Earnings Per Share and Stockholders’ Equity — Stockholders’ Equity.” 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 basis, exchanging one Partnership Unit from each of the Holding Partnerships for one share of Blackstone common stock.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated fi nanc The 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. Use of Estimates The preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates that affect the amounts reported in the consolidated financial statements and accompanying notes. Management believes that estimates utilized in the preparation of the consolidated financial statements are prudent and reasonable. Such estimates include those used in the valuation of investments and financial instruments, the measurement of deferred tax balances (including valuation allowances) and the accounting for Goodwill and equity-based compensation. Actual results could differ from those estimates and such differences could be material. 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 rights or participating rights that would overcome the control held by Blackstone. Accordingly, Blackstone consolidates Blackstone Holdings and records non-controlling interests to reflect the economic interests of the limited partners of Blackstone Holdings. 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 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 20. “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 Consolidated Statements of Financial Condition. Incentive Fees — each vehicle’s governing agreements. Incentive Fees will not be recognized as revenue until (a) it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur, or (b) the uncertainty associated with the variable consideration is subsequently resolved. Incentive Fees are typically recognized as revenue when realized at the end of the measurement period. Once realized, such fees are not subject to clawback or reversal. Accrued but unpaid Incentive Fees charged directly to investors in Blackstone vehicles as of the reporting date are recorded within Due from Affiliates in the Consolidated Statements of Financial Condition. 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 share of the results of the fund vehicle (a “pro-rata allocation”). In addition to a pro-rata allocation, and assuming certain investment returns are achieved, Blackstone is entitled to a disproportionate allocation of the income otherwise allocable to the limited partners, commonly referred to as carried interest (“Performance Allocations”). 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 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 interest holders that would need to be repaid to the Blackstone carry funds if the Blackstone carry funds were to be liquidated based on the current fair value of the underlying funds’ investments as of the reporting date. The actual clawback liability, however, generally does not become realized until the end of a fund’s life except for certain funds, including certain Blackstone real estate funds, multi-asset class investment funds and credit-focused funds, which may have an interim clawback liability. Performance Allocations in open-ended structures are realized based on the stated time period in the agreements and are generally not subject to clawback once paid. 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 allocations, its equity method investments, and other principal investments. Income (Loss) on Principal Investments is realized when Blackstone redeems all or a portion of its investment or when Blackstone receives cash income, such as dividends or distributions. Unrealized Income (Loss) on Principal Investments results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. Interest and Dividend Revenue Other Revenue 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 CLO vehicles, government and agency securities, less liquid and restricted equity securities, and certain over-the-counter derivatives where the fair value is based on observable inputs. • 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 grade residual interests in securitizations, certain corporate bonds and loans held within CLO vehicles, and certain over-the-counter derivatives where the fair value is based on unobservable inputs. 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, including 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. 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 and liquidity risks. Investments for which market prices are not observable include private investments in the equity of operating companies, real estate properties, certain funds of hedge funds and credit-focused investments. 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 Accounting and Auditing 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 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 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 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 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, the institution of gates on redemptions or the suspension of redemptions or an ability to side pocket investments, at the discretion of the investee’s fund manager, and as a result, investments may not be redeemable at, or within three months of, the reporting date. A side-pocket is used by hedge funds and funds of hedge funds to separate investments that may lack a readily ascertainable value, are illiquid or are subject to liquidity restriction. Redemptions are generally not permitted until the investments within a side-pocket are liquidated or it is deemed that the conditions existing at the time that required the investment to be included in the side-pocket no longer exist. As the timing of either of these events is uncertain, the timing at which Blackstone may redeem an investment held in a side-pocket cannot be estimated. Further disclosure on instruments for which fair value is measured using NAV per share is presented in Note 5. “Net Asset Value as Fair Value.” 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 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 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 Consolidated Statements of Financial Condition. Strategic Partners’ results presented in Blackstone’s 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. Cash and Cash Equivalents Cash and Cash Equivalents represents cash on hand, cash held in banks, money market funds and liquid investments with original maturities of three months or less. Interest income from cash and cash equivalents is recorded in Interest and Dividend Revenue in the Consolidated Statements of Operations. Cash Held by Blackstone Funds and Other Cash Held by Blackstone Funds and Other represents cash and cash equivalents held by consolidated Blackstone Funds and other consolidated entities. Such amounts are not available to fund the general liquidity needs of Blackstone. Accounts Receivable Accounts Receivable includes management fees receivable from limited partners, receivables from underlying funds in the fund of hedge funds business, placement and advisory fees receivables, receivables relating to unsettled sale transactions and loans extended to unaffiliated third parties. Accounts Receivable, excluding those for which the fair value option has been elected, are assessed periodically for collectability. Amounts determined to be uncollectible are charged directly to General, Administrative and Other Expenses in the Consolidated Statements of Operations. Intangibles and Goodwill Blackstone’s intangible assets consist of contractual rights to earn future fee income, including management and advisory fees, Incentive Fees and Performance Allocations. Identifiable finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, ranging from three Goodwill comprises goodwill arising from the contribution and reorganization of Blackstone’s predecessor entities in 2007 immediately prior to its initial public offering (“IPO”) and the acquisitions of GSO Capital Partners LP in 2008, Strategic Partners in 2013, Harvest Fund Advisors LLC (“Harvest”) in 2017, Clarus Ventures LLC (“Clarus”) in 2018 and DCI LLC (“DCI”) in 2020. Goodwill is reviewed for impairment at least annually utilizing a qualitative or quantitative approach, and more frequently if circumstances indicate impairment may have occurred. The impairment testing for goodwill under the qualitative approach is based first on a qualitative assessment to determine if it is more likely than not that the fair value of Blackstone’s operating segments is less than their respective carrying values. The operating segments are considered the reporting units for testing the impairment of goodwill. If it is determined that it is more likely than not that an operating segment’s fair value is less than its carrying value or when the quantitative approach is used, an impairment loss is recognized to the extent by which the carrying value exceeds the fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Furniture, Equipment and Leasehold Improvements Furniture, equipment and leasehold improvements consist primarily of leasehold improvements, furniture, fixtures and equipment, computer hardware and software and are recorded at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the assets’ estimated useful economic lives, which for leasehold improvements are the lesser of the lease term or the life of the asset, generally ten three seven Foreign Currency In the normal course of business, Blackstone may enter into transactions not denominated in United States dollars. Foreign exchange gains and losses arising on such transactions are recorded as Other Revenue in the Consolidated Statements of Operations. Foreign currency transaction gains and losses arising within consolidated Blackstone Funds are recorded in Net Gains (Losses) from Fund Investment Activities. In addition, Blackstone consolidates a number of entities that have a non-U.S. dollar functional currency. Non-U.S. dollar denominated assets and liabilities are translated to U.S. dollars at the exchange rate prevailing at the reporting date and income, expenses, gains and losses are translated at the prevailing exchange rate on the dates that they were recorded. Cumulative translation adjustments arising from the translation of non-U.S. dollar denominated operations are recorded in Other Comprehensive Income and allocated to Non-Controlling Interests in Consolidated Entities and Non-Controlling Interests in Blackstone Holdings, as applicable. Comprehensive Income Comprehensive Income consists of Net Income and Other Comprehensive Income. Blackstone’s Other Comprehensive Income is comprised of foreign currency cumulative translation adjustments. Compensation and Benefits Compensation and Benefits Compensation Compensation and Benefits — Incentive Fee Compensation — Compensation and Benefits — Performance Allocations Compensation — Non-Controlling Interests in Consolidated Entities Non-Controlling Interests in Consolidated Entities represent the

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets	3. Goodwill and Intangible Assets The carrying value of Goodwill was $1.9 billion as of December 31, 2022 and 2021. At December 31, 2022 and 2021, Blackstone determined there was no evidence of Goodwill impairment. At December 31, 2022 and 2021, Goodwill has been allocated to each of Blackstone’s four segments as follows: Real Estate ($421.7 million), Private Equity ($870.0 million), Credit & Insurance ($426.4 million) and Hedge Fund Solutions ($172.1 million). Intangible Assets, Net consists of the following: December 31, 2022 2021 Finite-Lived Intangible Assets/Contractual Rights $ 1,745,376 $ 1,745,376 Accumulated Amortization (1,528,089 ) (1,460,992 ) Intangible Assets, Net $ 217,287 $ 284,384 Changes in Blackstone’s Intangible Assets, Net consists of the following: Year Ended December 31, 2022 2021 2020 Balance, Beginning of Year $ 284,384 $ 347,955 $ 397,508 Amortization Expense (67,097 ) (74,871 ) (71,053 ) Acquisitions (a) — 11,300 21,500 Balance, End of Year $ 217,287 $ 284,384 $ 347,955 (a) In December 2020, Blackstone acquired DCI, a San Francisco based systematic credit investment firm. Provisional amounts of Intangible Assets and Goodwill for the acquisition of DCI were reported for the year ended December 31, 2020, which resulted in a $21.5 million increase in Intangible Assets. During the year ended December 31, 2021, Blackstone obtained additional information needed to identify and measure the acquired assets, which resulted in a $11.3 million increase in Intangible Assets. Intangible Assets related to the DCI acquisition are primarily comprised of contractual rights to earn future fee income. Amortization of Intangible Assets held at December 31, 2022 is expected to be $38.1 million, $30.5 million, $30.5 million, $30.4 million and $29.3 million for each of the years ending December 31, 2023, 2024, 2025, 2026 and 2027, respectively. Blackstone’s Intangible Assets as of December 31, 2022 are expected to amortize over a weighted-average period of 7.1 years.

Investments

Investments	12 Months Ended
	Dec. 31, 2022
Investments	4. Investments Investments consist of the following: December 31, 2022 2021 Investments of Consolidated Blackstone Funds $ 5,136,966 $ 2,018,829 Equity Method Investments Partnership Investments 5,530,419 5,635,212 Accrued Performance Allocations 12,360,684 17,096,873 Corporate Treasury Investments 1,053,540 658,066 Other Investments 3,471,642 3,256,063 $ 27,553,251 $ 28,665,043 Blackstone’s share of Investments of Consolidated Blackstone Funds totaled $393.9 million and $375.8 million at December 31, 2022 and December 31, 2021, 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 Consolidated Statements of Operations: Year Ended December 31, 2022 2021 2020 Realized Gains (Losses) $ 99,457 $ 145,305 $ (126,397 ) Net Change in Unrealized Losses (264,204 ) 289,938 60,363 Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds (164,747 ) 435,243 (66,034 ) Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds 59,605 26,381 96,576 Other Income (Loss) — Net Gains (Losses) from Fund Investment Activities $ (105,142 ) $ 461,624 $ 30,542 Equity Method Investments Blackstone’s equity method investments include Partnership Investments, which represent the pro-rata investments, and any associated Accrued Performance Allocations, in Blackstone Funds, excluding any equity method investments for which the fair value option has been elected. Prior to January 26, 2021, Partnership Investments also included the 40% non-controlling interest in Pátria Investments Limited and Pátria Investimentos Ltda. (collectively, “Pátria”). On January 26, 2021, Pátria completed its IPO, pursuant to which Blackstone sold a portion of its interests and ceased to have representatives or the right to designate representatives on Pátria’s board of directors. As a result of Pátria’s pre-IPO reorganization transactions (which included Blackstone’s sale of 10% of Pátria’s pre-IPO shares to Pátria’s controlling shareholder) and the consummation of the IPO, Blackstone was deemed to no longer have significant influence over Pátria due to Blackstone’s decreased ownership and lack of board representation. Following the IPO, the retained interest in Pátria is included in Other Investments and accounted for at fair value in accordance with the GAAP guidance for investments in equity securities with a readily determinable fair value. Blackstone sold its remaining shares of Pátria during the three months ended September 30, 2021. Blackstone evaluates each of its equity method investments, excluding Accrued Performance Allocations, to determine if any were significant as defined by guidance from the United States Securities and Exchange Commission (“SEC”). As of and for the years ended December 31, 2022, 2021 and 2020, no individual equity method investment held by Blackstone met the significance criteria. As such, Blackstone is not required to present separate financial statements for any of its equity method investments. Partnership Investments Blackstone recognized net gains related to its Partnership Investments accounted for under the equity method of $292.1 million, $1.9 billion and $320.2 million for the years ended December 31, 2022, 2021 and 2020, respectively. The summarized financial information of Blackstone’s equity method investments for December 31, 2022 are as follows: December 31, 2022 and the Year Then Ended Real Private Credit & Hedge Fund Total Statement of Financial Condition Assets Investments $ 295,985,447 $ 182,732,362 $ 87,362,311 $ 38,209,892 $ 604,290,012 Other Assets 13,601,083 3,194,088 6,345,260 4,079,065 27,219,496 Total Assets $ 309,586,530 $ 185,926,450 $ 93,707,571 $ 42,288,957 $ 631,509,508 Liabilities and Equity Debt $ 118,075,949 $ 22,779,131 $ 39,049,599 $ 662,805 $ 180,567,484 Other Liabilities 7,735,780 1,310,998 5,644,625 2,092,757 16,784,160 Total Liabilities 125,811,729 24,090,129 44,694,224 2,755,562 197,351,644 Equity 183,774,801 161,836,321 49,013,347 39,533,395 434,157,864 Total Liabilities and Equity $ 309,586,530 $ 185,926,450 $ 93,707,571 $ 42,288,957 $ 631,509,508 Statement of Operations Interest Income $ 2,917,115 $ 2,012,916 $ 5,764,150 $ 16,069 $ 10,710,250 Other Income 9,432,802 824,779 690,193 286,444 11,234,218 Interest Expense (3,644,118 ) (722,626 ) (1,450,447 ) (41,522 ) (5,858,713 ) Other Expenses (11,089,520 ) (2,132,320 ) (1,303,902 ) (255,459 ) (14,781,201 ) Net Realized and Unrealized Gain from Investments 7,807,056 2,146,281 (1,330,895 ) 483,946 9,106,388 Net Income $ 5,423,335 $ 2,129,030 $ 2,369,099 $ 489,478 $ 10,410,942 The summarized financial information of Blackstone’s equity method investments for December 31, 2021 are as follows: December 31, 2021 and the Year Then Ended Real Estate Private Equity Credit & Hedge Fund Total Statement of Financial Condition Assets Investments $ 241,808,879 $ 175,726,829 $ 68,426,090 $ 39,691,668 $ 525,653,466 Other Assets 13,463,009 5,776,462 5,412,041 3,020,159 27,671,671 Total Assets $ 255,271,888 $ 181,503,291 $ 73,838,131 $ 42,711,827 $ 553,325,137 Liabilities and Equity Debt $ 76,760,932 $ 20,434,354 $ 30,792,984 $ 1,243,453 $ 129,231,723 Other Liabilities 6,999,032 2,153,071 3,159,548 3,084,558 15,396,209 Total Liabilities 83,759,964 22,587,425 33,952,532 4,328,011 144,627,932 Equity 171,511,924 158,915,866 39,885,599 38,383,816 408,697,205 Total Liabilities and Equity $ 255,271,888 $ 181,503,291 $ 73,838,131 $ 42,711,827 $ 553,325,137 Statement of Operations Interest Income $ 1,422,743 $ 1,640,402 $ 2,584,486 $ 3,563 $ 5,651,194 Other Income 6,115,960 318,485 306,490 315,894 7,056,829 Interest Expense (1,475,065 ) (331,350 ) (427,459 ) (30,073 ) (2,263,947 ) Other Expenses (6,847,739 ) (1,666,930 ) (828,689 ) (282,474 ) (9,625,832 ) Net Realized and Unrealized Gain from Investments 31,078,396 43,895,781 3,562,579 4,605,235 83,141,991 Net Income $ 30,294,295 $ 43,856,388 $ 5,197,407 $ 4,612,145 $ 83,960,235 (a) Other represents the summarized financial information of equity method investments whose results, for segment reporting purposes, have been allocated across more than one of Blackstone’s segments. The summarized financial information of Blackstone’s equity method investments for December 31, 2020 are as follows: December 31, 2020 and the Year Then Ended Real Private Credit & Hedge Fund Other (a) Total Statement of Financial Condition Assets Investments $ 140,317,595 $ 112,647,584 $ 25,473,283 $ 32,829,525 $ 11,915 $ 311,279,902 Other Assets 5,234,463 2,650,267 2,088,882 3,047,256 95,798 13,116,666 Total Assets $ 145,552,058 $ 115,297,851 $ 27,562,165 $ 35,876,781 $ 107,713 $ 324,396,568 Liabilities and Equity Debt $ 29,962,733 $ 15,928,802 $ 7,553,301 $ 886,292 $ — $ 54,331,128 Other Liabilities 5,777,808 1,657,846 1,216,354 3,320,551 48,275 12,020,834 Total Liabilities 35,740,541 17,586,648 8,769,655 4,206,843 48,275 66,351,962 Equity 109,811,517 97,711,203 18,792,510 31,669,938 59,438 258,044,606 Total Liabilities and Equity $ 145,552,058 $ 115,297,851 $ 27,562,165 $ 35,876,781 $ 107,713 $ 324,396,568 Statement of Operations Interest Income $ 608,120 $ 1,083,534 $ 1,196,544 $ 22,157 $ — $ 2,910,355 Other Income 1,074,818 71,219 323,577 283,250 115,504 1,868,368 Interest Expense (1,006,311 ) (345,060 ) (211,507 ) (68,887 ) — (1,631,765 ) Other Expenses (1,889,153 ) (1,405,029 ) (525,456 ) (225,384 ) (53,292 ) (4,098,314 ) Net Realized and Unrealized Gain (Losses) from Investments 5,150,127 7,638,733 (1,965,087 ) 2,449,079 — 13,272,852 Net Income (Loss) $ 3,937,601 $ 7,043,397 $ (1,181,929 ) $ 2,460,215 $ 62,212 $ 12,321,496 (a) Other represents the summarized financial information of equity method investments whose results, for segment reporting purposes, have been allocated across more than one of Blackstone’s segments. Accrued Performance Allocations Accrued Performance Allocations to Blackstone were as follows: Real Private Credit & Hedge Fund Total Accrued Performance Allocations, December 31, 2021 $ 8,471,754 $ 7,550,468 $ 618,246 $ 456,405 $ 17,096,873 Performance Allocations as a Result of Changes in Fund Fair Values 2,072,431 (71,156 ) 106,622 58,216 2,166,113 Foreign Exchange Loss (122,812 ) — — — (122,812 ) Impact of Consolidation (10,393 ) — — — (10,393 ) Fund Distributions (5,076,863 ) (1,441,737 ) (154,970 ) (95,527 ) (6,769,097 ) Accrued Performance Allocations, December 31, 2022 $ 5,334,117 $ 6,037,575 $ 569,898 $ 419,094 $ 12,360,684 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: Year Ended December 31, 2022 2021 2020 Realized Gains (Losses) $ (21,511 ) $ 741 $ 44,700 Net Change in Unrealized Gains (Losses) (57,426 ) 39,549 (91,299 ) $ (78,937 ) $ 40,290 $ (46,599 ) 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 subordinated notes in non-consolidated CLO vehicles. Equity securities carried at fair value include the ownership of common stock of Corebridge Financial, Inc., formerly known as American International Group, Inc.’s Life and Retirement business (“Corebridge”). Such common stock is subject to certain phased lock-up restrictions that expire over time through five years after the initial public offering (“IPO”) of Corebridge. Equity investments without a readily determinable fair value had a carrying value of $375.5 million as of December 31, 2022. In the period of acquisition and upon remeasurement in connection with an observable transaction, such investments are reported at fair value. See Note 8. “Fair Value Measurements of Financial Instruments” for additional detail. Upward adjustments related to investments held as of December 31, 2022 were $ Year Ended December 31, 2022 2021 2020 Realized Gains $ 203,327 $ 163,199 $ 19,573 Net Change in Unrealized Gains (Losses) (1,128,244 ) 340,867 (2,647 ) $ (924,917 ) $ 504,066 $ 16,926

Net Asset Value as Fair Value

Net Asset Value as Fair Value	12 Months Ended
	Dec. 31, 2022
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 December 31, 2022 is presented below: Strategy (a) Fair Value Redemption Redemption Equity $ 454,212 (b) (b) Total Real Estate 120,632 (c) (c) Credit Driven 26,752 (d) (d) Commodities 1,080 (e) (e) Diversified Instruments 17 (f) (f) $ 602,693 (a) As of December 31, 2022, Blackstone had no unfunded commitments. (b) The Equity category includes investments in hedge funds that invest primarily in domestic and international equity securities. Investment representing 23% 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 76% 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. Investments representing 100% of fair value of the 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. Investments representing 82% of the fair value of the investments in this category are in liquidation. The remaining 18% of 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. Investments representing 100% of the fair value of the 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. Investments representing 100% of the fair value of the investments in this category may not be redeemed at, or within three months of, the reporting date.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
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. dollar denominated currency net investments. As a result of the use of derivative contracts, Blackstone and the consolidated Blackstone Funds are exposed to the risk that counterparties will fail to fulfill their contractual obligations. To mitigate such counterparty risk, Blackstone and the consolidated Blackstone Funds enter into contracts with certain major financial institutions, all of which have investment grade ratings. Counterparty credit risk is evaluated in determining the fair value of derivative instruments. 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. December 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities Notional Fair Notional Fair Notional Fair Notional Fair Freestanding Derivatives Blackstone Interest Rate Contracts $ 789,540 $ 188,043 $ 621,700 $ 83,331 $ 609,132 $ 143,349 $ 692,442 $ 138,677 Foreign Currency Contracts 541,238 8,040 190,774 3,542 217,161 1,858 572,643 6,143 Credit Default Swaps 2,007 384 8,768 1,309 2,007 194 9,916 1,055 Total Return Swaps 42,233 6,210 — — — — — — Equity Options — — 996,592 48,581 — — — — 1,375,018 202,677 1,817,834 136,763 828,300 145,401 1,275,001 145,875 Investments of Consolidated Blackstone Funds Interest Rate Contracts 931,752 74,926 — — — — 14,000 764 Foreign Currency Contracts — — 5,133 284 20,764 339 54,300 370 Credit Default Swaps — — — — 3,401 321 22,865 799 931,752 74,926 5,133 284 24,165 660 91,165 1,933 $ 2,306,770 $ 277,603 $ 1,822,967 $ 137,047 $ 852,465 $ 146,061 $ 1,366,166 $ 147,808 The table below summarizes the impact to the Consolidated Statements of Operations from derivative financial instruments: Year Ended December 31, 2022 2021 2020 Freestanding Derivatives Realized Gains (Losses) Interest Rate Contracts $ 15,319 $ 1,727 $ (7,643 ) Foreign Currency Contracts (8,520 ) (1,152 ) 1,105 Credit Default Swaps (231 ) (1,488 ) (109 ) Total Return Swaps 1,654 (1,254 ) (1,875 ) Other — (40 ) 14 8,222 (2,207 ) (8,508 ) Net Change in Unrealized Gains (Losses) Interest Rate Contracts 167,706 89,702 (117,145 ) Foreign Currency Contracts 9,666 608 1,231 Credit Default Swaps 73 1,112 (1,777 ) Total Return Swaps 5,290 2,130 (1,683 ) Equity Options 48,581 — — Other — (20 ) 57 231,316 93,532 (119,317 ) $ 239,538 $ 91,325 $ (127,825 )

Fair Value Option

Fair Value Option	12 Months Ended
	Dec. 31, 2022
Fair Value Option	7. Fair Value Option The following table summarizes the financial instruments for which the fair value option has been elected: December 31, 2022 2021 Assets Loans and Receivables $ 315,039 $ 392,732 Equity and Preferred Securities 1,868,192 516,539 Debt Securities 24,784 183,877 $ 2,208,015 $ 1,093,148 Liabilities Corporate Treasury Commitments $ 8,144 $ 636 The following table presents the Realized and Net Change in Unrealized Gains (Losses) on financial instruments on which the fair value option was elected: Year Ended December 31, 2022 2021 2020 Net Change Net Change Net Change Realized in Unrealized Realized in Unrealized Realized in Unrealized Gains Gains Gains Gains Gains Gains (Losses) (Losses) (Losses) (Losses) (Losses) (Losses) Assets Loans and Receivables $ (10,733 ) $ (464 ) $ (11,661 ) $ 3,481 $ (10,314 ) $ (2,011 ) Equity and Preferred Securities 22,285 (91,338 ) 42,791 53,157 (342 ) (67,869 ) Debt Securities (22,240 ) (19,490 ) 14,399 (14,210 ) (22,783 ) 29,143 Assets of Consolidated CLO Vehicles (a) Corporate Loans — — — — (96,194 ) (226,542 ) Other — — — — — (325 ) $ (10,688 ) $ (111,292 ) $ 45,529 $ 42,428 $ (129,633 ) $ (267,604 ) Liabilities Liabilities of Consolidated CLO Vehicles (a) Senior Secured Notes $ — $ — $ — $ — $ — $ 199,445 Subordinated Notes — — — — — 30,046 Corporate Treasury Commitments — (7,508 ) — (383 ) — (244 ) $ — $ (7,508 ) $ — $ (383 ) $ — $ 229,247 (a) During the year ended December 31, 2020, Blackstone deconsolidated nine CLO vehicles. The following table presents information for those financial instruments for which the fair value option was elected: December 31, 2022 December 31, 2021 For Financial Assets For Financial Assets Past Due (a) Past Due (a) Excess Excess Excess Excess (Deficiency) (Deficiency) (Deficiency) (Deficiency) 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 $ (2,861 ) $ — $ — $ (2,748 ) $ — $ — Debt Securities (48,670 ) — — (29,475 ) — — $ (51,531 ) $ — $ — $ (32,223 ) $ — $ — As of December 31, 2022 and 2021, no Loans and Receivables for which the fair value option was elected were past due or in non-accrual status.

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	12 Months Ended
	Dec. 31, 2022
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: 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 (b) 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 (c) 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 December 31, 2021 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents $ 173,408 $ — $ — $ — $ 173,408 Investments Investments of Consolidated Blackstone Funds Investment Funds — — — 18,365 18,365 Equity Securities, Partnerships and LLC Interests (a) 70,484 122,068 1,170,362 363,902 1,726,816 Debt Instruments 642 242,393 29,953 — 272,988 Freestanding Derivatives — 660 — — 660 Total Investments of Consolidated Blackstone Funds 71,126 365,121 1,200,315 382,267 2,018,829 Corporate Treasury Investments 86,877 570,712 477 — 658,066 Other Investments (b) 478,892 210,752 2,518,032 4,845 3,212,521 Total Investments 636,895 1,146,585 3,718,824 387,112 5,889,416 Accounts Receivable — Loans and Receivables — — 392,732 — 392,732 Other Assets — Freestanding Derivatives 113 145,288 — — 145,401 $ 810,416 $ 1,291,873 $ 4,111,556 $ 387,112 $ 6,600,957 Liabilities Securities Sold, Not Yet Purchased $ 4,292 $ 23,557 $ — $ — $ 27,849 Accounts Payable, Accrued Expenses and Other Liabilities Consolidated Blackstone Funds — Freestanding Derivatives — 1,933 — — 1,933 Freestanding Derivatives 323 145,552 — — 145,875 Corporate Treasury Commitments — — 636 — 636 Total Accounts Payable, Accrued Expenses and Other Liabilities 323 147,485 636 — 148,444 $ 4,615 $ 171,042 $ 636 $ — $ 176,293 LLC Limited Liability Company. (a) Equity Securities, Partnership and LLC Interest includes investments in investment funds. Prior period amounts have been reclassified to this presentation. (b) Other Investments includes Blackstone’s ownership of common stock of Corebridge. Following Corebridge’s IPO in September 2022, a quoted price for Corebridge’s common shares exists and as such the investment will be measured at fair value on a recurring basis as a Level I investment. Blackstone’s investment in Corebridge was previously valued as a Level III investment on a nonrecurring basis using the measurement alternative. See Note 4. “Investments — Other Investments” for additional details. (c) Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility. (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 December 31, 2022: Impact to Valuation from an Valuation Unobservable Weighted- Increase Fair Value Techniques Inputs Ranges Average (a) in Input Financial Assets Investments of Consolidated Blackstone Funds 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 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, 2021: Impact to Valuation from an Valuation Unobservable Weighted- Increase Fair Value Techniques Inputs Ranges Average (a) in Input Financial Assets Investments of Consolidated Blackstone Funds Equity Securities, Partnership and LLC Interests $ 1,170,362 Discounted Cash Flows Discount Rate 1.3% - 43.3% 10.4% Lower Exit Multiple - EBITDA 3.7x - 31.4x 14.7x Higher Exit Capitalization Rate 1.3% - 17.3% 4.9% Lower Debt Instruments 29,953 Discounted Cash Flows Discount Rate 6.5% - 19.3% 9.0% Lower Third Party Pricing n/a Total Investments of Consolidated Blackstone Funds 1,200,315 Corporate Treasury Investments 477 Discounted Cash Flows Discount Rate 9.4 % n/a Lower Third Party Pricing n/a Loans and Receivables 392,732 Discounted Cash Flows Discount Rate 6.5% - 12.2% 7.6% Lower Other Investments 2,518,032 Third Party Pricing n/a Transaction Price n/a $ 4,111,556 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 December 31, 2022, Other Investments includes Level III Freestanding Derivatives. During the year ended December 31, 2022, 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 basis. Total realized and unrealized gains and losses recorded for Level III investments are reported in either Investment Income (Loss) or Net Gains from Fund Investment Activities in the Consolidated Statements of Operations. Level III Financial Assets at Fair Value Year Ended December 31, 2022 2021 Investments of Consolidated Funds Loans and Receivables Other Investments (a) Total Investments of Consolidated Funds Loans and Receivables Other Investments (a) Total Balance, Beginning of Period $ 1,200,315 $ 392,732 $ 43,987 $ 1,637,034 $ 858,310 $ 581,079 $ 46,158 $ 1,485,547 Transfer In Due to Consolidation and Acquisition 2,985,171 — — 2,985,171 — — — — Transfer In to Level III (b) 2,040 — 2,517 4,557 8,254 — 14,162 22,416 Transfer Out of Level III (b) (76,621 ) — (19,597 ) (96,218 ) (111,952 ) — (16,388 ) (128,340 ) Purchases 636,338 805,375 14,524 1,456,237 381,826 955,236 225,297 1,562,359 Sales (428,379 ) (882,668 ) (3,797 ) (1,314,844 ) (292,843 ) (1,132,405 ) (226,866 ) (1,652,114 ) Issuances — 39,514 — 39,514 — 58,221 — 58,221 Settlements — (55,308 ) (4,433 ) (59,741 ) — (85,444 ) — (85,444 ) Changes in Gains (Losses) Included in Earnings (69,032 ) 15,394 (2,230 ) (55,868 ) 356,720 16,045 1,624 374,389 Balance, End of Period $ 4,249,832 $ 315,039 $ 30,971 $ 4,595,842 $ 1,200,315 $ 392,732 $ 43,987 $ 1,637,034 Changes in Unrealized Gains (Losses) $ (136,037 ) $ (13,384 ) $ (11,271 ) $ (160,692 ) $ 298,740 $ (9,005 ) $ 1,412 $ 291,147 (a) Represents 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.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2022
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 VIEs and any clawback obligation relating to previously distributed Performance Allocations. Blackstone’s maximum exposure to loss relating to non-consolidated VIEs were as follows: December 31, 2022 December 31, 2021 Investments $ 3,326,669 $ 3,337,757 Due from Affiliates 189,240 179,939 Potential Clawback Obligation 384,926 44,327 Maximum Exposure to Loss $ 3,900,835 $ 3,562,023 Amounts Due to Non-Consolidated VIEs $ 6 $ 105

Repurchase Agreements

Repurchase Agreements	12 Months Ended
	Dec. 31, 2022
Repurchase Agreements	10. Repurchase Agreements At December 31, 2022 and 2021, Blackstone pledged securities with a carrying value of $89.9 million and $63.0 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: December 31, 2022 Remaining Contractual Maturity of the Agreements Overnight and Up to 30 - 90 Greater than Continuous 30 Days Days 90 days Total Repurchase Agreements Asset-Backed Securities $ — $ — $ — $ — $ — Loans — 70,776 — 19,168 89,944 $ — $ 70,776 $ — $ 19,168 $ 89,944 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 12. “Offsetting of Assets and Liabilities” $ 89,944 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 12. “Offsetting of Assets and Liabilities” $ — December 31, 2021 Remaining Contractual Maturity of the Agreements Overnight and Up to 30 - 90 Greater than Continuous 30 Days Days 90 days Total Repurchase Agreements Asset-Backed Securities $ — $ 15,980 $ — $ — $ 15,980 Loans — — 42,000 — 42,000 $ — $ 15,980 $ 42,000 $ — $ 57,980 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 12. “Offsetting of Assets and Liabilities” $ 57,980 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 12. “Offsetting of Assets and Liabilities” $ —

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2022
Other Assets	11. Other Assets Other Assets consists of the following: December 31, 2022 2021 Furniture, Equipment and Leasehold Improvements $ 748,334 $ 523,452 Less: Accumulated Depreciation (336,621 ) (278,844 ) Furniture, Equipment and Leasehold Improvements, Net 411,713 244,608 Prepaid Expenses 165,079 92,359 Freestanding Derivatives 202,677 145,401 Other 20,989 10,568 $ 800,458 $ 492,936 Depreciation expense of $69.2 million, $52.2 million and $35.1 million related to furniture, equipment and leasehold improvements for the years ended December 31, 2022, 2021 and 2020, respectively, is included in General, Administrative and Other in the Consolidated Statements of Operations.

Offsetting of Assets And Liabil

Offsetting of Assets And Liabilities	12 Months Ended
	Dec. 31, 2022
Offsetting of Assets and Liabilities	12. Offsetting of Assets and Liabilities The following tables present the offsetting of assets and liabilities as of December 31, 2022 and 2021: December 31, 2022 Gross and Net Gross Amounts Not Offset in the Statement of Financial Condition Financial Instruments (a) Cash Collateral Received Net Amount Assets Freestanding Derivatives $ 277,603 $ 165,897 $ 96,436 $ 15,270 December 31, 2022 Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts Not Offset in the Statement of Financial Condition Net Financial Cash Collateral Pledged 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 December 31, 2021 Gross and Net Amounts of Assets Presented in the Statement of Gross Amounts Not Offset in the Statement of Financial Condition Net Financial Cash Collateral Assets Freestanding Derivatives $ 146,061 $ 137,265 $ 41 $ 8,755 December 31, 2021 Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts Not Offset in the Statement of Financial Condition Net Financial Cash Collateral Liabilities Freestanding Derivatives $ 147,666 $ 118,552 $ 1,347 $ 27,767 Repurchase Agreements 57,980 57,980 — — $ 205,646 $ 176,532 $ 1,347 $ 27,767 (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 Consolidated Statements of Financial Condition. Freestanding Derivative assets are included in Other Assets in the Consolidated Statements of Financial Condition. See Note 11. “Other Assets” for the components of Other Assets. Freestanding Derivative liabilities are included in Accounts Payable, Accrued Expenses and Other Liabilities in the 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 December 31, 2022, the aggregate cash balance on deposit relating to the cash pooling arrangements was $805.3 million, which was offset and reported net of the accompanying overdraft of $805.2 million.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2022
Borrowings	13. Borrowings On January 10, 2022, Blackstone through its indirect subsidiary Blackstone Holdings Finance Co. L.L.C. (the “Issuer”), issued $500 million aggregate principal amount of senior notes due March 30, 2032 (the “January 2032 Notes”) and $1.0 billion aggregate principal amount of senior notes due January 30, 2052 (the “2052 Notes”). The January 2032 Notes have an interest rate of 2.550% per annum and the 2052 Notes have an interest rate of 3.200% per annum, in each case accruing from January 10, 2022. Interest on the January 2032 Notes is payable semi-annually in arrears on March 30 and September 30 of each year commencing on March 30, 2022. Interest on the 2052 Notes is payable semi-annually in arrears on January 30 and July 30 of each year commencing on July 30, 2022. On June 1, 2022, Blackstone through the Issuer, issued € On June 3, 2022, Blackstone, through the Issuer, entered into an amended and restated $4.135 billion revolving credit facility (the “Credit Facility”) with Citibank, N.A., as administrative agent, and the lenders party thereto. The amendment and restatement, among other things, increased the amount of available borrowings and extended the maturity date from November 24, 2025 to June 3, 2027. On November 3, 2022, Blackstone through the Issuer, issued $600 million aggregate principal amount of senior notes due November 3, 2027 (the “2027 Notes”) and $900 million aggregate principal amount of senior notes due April 22, 2033 (the “2033 Notes”). The 2027 Notes have an interest rate of 5.900% per annum and the 2033 Notes have an interest rate of 6.200% per annum, in each case accruing from November 3, 2022. Interest on the 2027 Notes is payable semi-annually in arrears on May 3 and November 3 of each year commencing on May 3, 2023. Interest on the 2033 Notes is payable semi-annually in arrears on April 22 and October 22 of each year commencing on April 22, 2023. All of Blackstone’s outstanding senior notes as of December 31, 2022 are unsecured and unsubordinated obligations of the Issuer that are fully and unconditionally guaranteed by Blackstone Inc. and its indirect subsidiaries, 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. (the “Guarantors”). The guarantees are unsecured and unsubordinated obligations of the Guarantors. Transaction costs related to senior note issuances have been capitalized and are amortized over the life of each respective note. Blackstone borrows and enters into credit agreements for its general operating and investment purposes and certain Blackstone Funds borrow to meet financing needs of their operating and investing activities. Borrowing facilities have been established for the benefit of selected Blackstone Funds. When a Blackstone Fund borrows from the facility in which it participates, the proceeds from the borrowing are strictly limited for its intended use by the borrowing fund and not available for other Blackstone purposes. Blackstone’s credit facilities consist of the following: December 31, 2022 2021 Credit Borrowing Effective Credit Borrowing Effective Revolving Credit Facility (a) $ 4,135,000 $ — - $ 2,000,000 $ 250,000 0.86 % Blackstone Issued Senior Notes (b) 4.750%, Due 2/15/2023 400,000 400,000 5.07 % 400,000 400,000 5.08 % 2.000%, Due 5/19/2025 321,150 321,150 2.19 % 341,100 341,100 2.11 % 1.000%, Due 10/5/2026 642,300 642,300 1.16 % 682,200 682,200 1.13 % 3.150%, Due 10/2/2027 300,000 300,000 3.29 % 300,000 300,000 3.30 % 5.900%, Due 11/3/2027 600,000 600,000 6.19 % — — - 1.625%, Due 8/5/2028 650,000 650,000 1.83 % 650,000 650,000 1.68 % 1.500%, Due 4/10/2029 642,300 642,300 1.61 % 682,200 682,200 1.55 % 2.500%, Due 1/10/2030 500,000 500,000 2.73 % 500,000 500,000 2.73 % 1.600%, Due 3/30/2031 500,000 500,000 1.70 % 500,000 500,000 1.70 % 2.000%, Due 1/30/2032 800,000 800,000 2.18 % 800,000 800,000 2.16 % 2.550%, Due 3/30/2032 500,000 500,000 2.66 % — — - 6.200%, Due 4/22/2033 900,000 900,000 6.40 % — — - 3.500%, Due 6/1/2034 535,250 535,250 3.79 % — — - 6.250%, Due 8/15/2042 250,000 250,000 6.65 % 250,000 250,000 6.65 % 5.000%, Due 6/15/2044 500,000 500,000 5.16 % 500,000 500,000 5.16 % 4.450%, Due 7/15/2045 350,000 350,000 4.56 % 350,000 350,000 4.56 % 4.000%, Due 10/2/2047 300,000 300,000 4.20 % 300,000 300,000 4.20 % 3.500%, Due 9/10/2049 400,000 400,000 3.61 % 400,000 400,000 3.61 % 2.800%, Due 9/30/2050 400,000 400,000 2.88 % 400,000 400,000 2.88 % 2.850%, Due 8/5/2051 550,000 550,000 2.92 % 550,000 550,000 2.89 % 3.200%, Due 1/30/2052 1,000,000 1,000,000 3.26 % — — - 15,176,000 11,041,000 9,605,500 7,855,500 Blackstone Fund Facilities (c) 1,450,000 1,450,000 - 101 101 1.61 % $ 16,626,000 $ 12,491,000 $ 9,605,601 $ 7,855,601 (a) As of December 31, 2022, the Issuer has a credit facility with Citibank, N.A., as Administrative Agent in the amount of $4.135 billion with a maturity date of June 3, 2027. Interest on the borrowings is based on an adjusted Secured Overnight Finance Rate (“SOFR”) rate or alternate base rate, in each case plus a margin, and undrawn commitments bear a commitment fee of 0.06%. The margin above adjusted SOFR used to calculate interest on borrowings was 0.75% plus an additional credit spread adjustment of 0.10 (b) The Issuer has issued long-term borrowings in the form of senior notes (the “Notes”). The Notes are unsecured and unsubordinated obligations of the Issuer. The Notes are fully and unconditionally guaranteed, jointly and severally, by Blackstone, Blackstone Holdings (the “Guarantors”), and the Issuer. The guarantees are unsecured and unsubordinated obligations of the Guarantors. Transaction costs related to the issuance of the Notes have been deducted from the Note liability and are being amortized over the life of the Notes. The indentures include covenants, including limitations on the Issuer’s and the Guarantors’ ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or lease assets. The indentures also provide for events of default and further provide that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the Notes and any accrued and unpaid interest on the Notes automatically become due and payable. All or a portion of the Notes may be redeemed at the Issuer’s option in whole or in part, at any time and from time to time, prior to their stated maturity, at the make-whole redemption price set forth in the Notes. If a change of control repurchase event occurs, the holders of the Notes may require the Issuer to repurchase the Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the date of repurchase. (c) Represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Certain borrowings under these facilities were used for bridge financing and general liquidity purposes. Other borrowings were used to finance the purchase of investments with the borrowing remaining in place until the disposition or refinancing event. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Because the timing of such events is unknown and may occur in the near term, these borrowings are considered short-term in nature. 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 asset and therefore, the stated interest rate and effective interest rate may differ. Borrowings were secured according to the terms of each facility and are generally secured by the investment purchased with the proceeds of the borrowing and/or the uncalled capital commitment of each respective fund. Certain facilities have commitment fees. When a fund borrows, the proceeds are available only for use by that fund and are not available for the benefit of other funds. Collateral within each fund is also available only against the borrowings by that fund and not against the borrowings of other funds. The following table presents the general characteristics of each of Blackstone’s notes, as well as their carrying value and fair value. The notes are included in Loans Payable within the Consolidated Statements of Financial Condition. All of the notes were issued at a discount. All of the notes accrue interest from the issue date thereof and all pay interest in arrears on a semi-annual December 31, 2022 2021 Senior Notes Carrying Value Fair Value (a) Carrying Value Fair Value (a) 4.750%, Due 2/15/2023 $ 399,838 $ 399,776 $ 398,581 $ 415,880 2.000%, Due 5/19/2025 325,292 305,754 338,275 362,078 1.000%, Due 10/5/2026 642,968 568,525 675,867 700,892 3.150%, Due 10/2/2027 298,101 271,284 297,738 317,610 5.900%, Due 11/3/2027 594,381 606,450 643,251 629,265 1.625%, Due 8/5/2028 644,456 530,933 678,085 720,062 1.500%, Due 4/10/2029 645,819 532,043 491,662 507,350 2.500%, Due 1/10/2030 492,604 405,965 495,541 467,750 1.600%, Due 3/30/2031 495,990 365,380 786,690 767,920 2.000%, Due 1/30/2032 788,082 589,407 — — 2.550%, Due 3/30/2032 495,207 390,370 — — 6.200%, Due 4/22/2033 891,277 907,965 — — 3.500%, Due 6/1/2034 504,695 452,934 — — 6.250%, Due 8/15/2042 239,176 251,480 238,914 361,775 5.000%, Due 6/15/2044 489,704 441,355 489,446 648,500 4.450%, Due 7/15/2045 344,549 287,242 344,412 426,195 4.000%, Due 10/2/2047 290,935 227,946 290,730 347,370 3.500%, Due 9/10/2049 392,259 275,588 392,089 431,240 2.800%, Due 9/30/2050 393,958 237,552 393,818 382,880 2.850%, Due 8/5/2051 543,162 323,527 542,963 531,355 3.200%, Due 1/30/2052 987,131 646,880 — — $ 10,899,584 $ 9,018,356 $ 7,498,062 $ 8,018,122 (a) Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy. Scheduled principal payments for borrowings at December 31, 2022 were as follows: Operating Blackstone Fund Facilities Total Borrowings 2023 $ 400,000 $ — $ 400,000 2024 — — — 2025 321,150 — 321,150 2026 642,300 — 642,300 2027 900,000 — 900,000 Thereafter 8,777,550 1,450,000 10,227,550 $ 11,041,000 $ 1,450,000 $ 12,491,000

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases	14. Leases Blackstone enters into non-cancelable lease and sublease agreements primarily for office space, which expire on various dates through 2043. Occupancy lease agreements, in addition to base rentals, generally are subject to escalation provisions based on certain costs incurred by the landlord, and are recognized on a straight-line basis over the term of the lease agreement. Rent expense includes base contractual rent and variable costs such as building expenses, utilities, taxes and insurance. At December 31, 2022 and 2021, Blackstone maintained irrevocable standby letters of credit and cash deposits as security for the leases of $12.3 million and $9.4 million, respectively. As of December 31, 2022, the weighted-average remaining lease term was 6.8 years, and the weighted-average discount rate was 1.5%. The components of lease expense were as follows: Year Ended December 31, 2022 2021 2020 Operating Lease Cost Straight-Line Lease Cost (a) $ 139,740 $ 115,875 $ 107,970 Variable Lease Cost (b) 12,072 10,959 15,426 Sublease Income (888 ) (1,695 ) (2,191 ) $ 150,924 $ 125,139 $ 121,205 (a) Straight-line lease cost includes short-term leases, which are immaterial. (b) Variable lease cost approximates variable lease cash payments. Supplemental cash flow information related to leases were as follows: Year Ended December 31, 2022 2021 2020 Operating Cash Flows for Operating Lease Liabilities $ 107,249 $ 96,007 $ 102,364 Non-Cash Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities $ 278,010 $ 352,298 $ 153,433 The following table shows the undiscounted cash flows on an annual basis for Operating Lease Liabilities 2023 $ 142,159 2024 151,807 2025 163,407 2026 161,642 2027 158,244 Thereafter 296,207 Total Lease Payments (a) 1,073,466 Less: Imputed Interest (52,012 ) Present Value of Operating Lease Liabilities $ 1,021,454 (a) Excludes signed leases that have not yet commenced.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes	15. Income Taxes The Income Before Provision for Taxes consists of the following: Year Ended December 31, 2022 2021 2020 Income Before Provision (Benefit) for Taxes U.S. Domestic Income $ 3,023,588 $ 13,275,132 $ 2,311,734 Foreign Income 438,201 284,264 305,786 $ 3,461,789 $ 13,559,396 $ 2,617,520 The Provision for Taxes consists of the following: Year Ended December 31, 2022 2021 2020 Current Federal Income Tax $ 503,075 $ 507,648 $ 163,227 Foreign Income Tax 75,859 55,376 38,914 State and Local Income Tax 255,421 156,735 66,355 834,355 719,759 268,496 Deferred Federal Income Tax (312,961 ) 373,223 86,958 Foreign Income Tax (3,048 ) (2,654 ) 870 State and Local Income Tax (45,466 ) 94,073 (310 ) (361,475 ) 464,642 87,518 Provision for Taxes $ 472,880 $ 1,184,401 $ 356,014 The following table summarizes Blackstone’s tax position: Year Ended December 31, 2022 2021 2020 Income Before Provision for Taxes $ 3,461,789 $ 13,559,396 $ 2,617,520 Provision for Taxes $ 472,880 $ 1,184,401 $ 356,014 Effective Income Tax Rate 13.7 % 8.7 % 13.6 % The following table reconciles the effective income tax rate to the U.S. federal statutory tax rate: 2022 2021 Year Ended December 31, vs. vs. 2022 2021 2020 2021 2020 Statutory U.S. Federal Income Tax Rate 21.0 % 21.0 % 21.0 % — — Income Passed Through to Non-Controlling Interest Holders -8.1 % -10.2 % -10.1 % 2.1 % -0.1 % State and Local Income Taxes 6.0 % 2.1 % 2.4 % 3.9 % -0.3 % Change to a Taxable Corporation — — 1.4 % — -1.4 % Change in Valuation Allowance — -4.1 % -2.8 % 4.1 % -1.3 % Basis Adjustment (a) -4.6 % — — -4.6 % — Other -0.6 % -0.1 % 1.7 % -0.5 % -1.8 % Effective Income Tax Rate 13.7 % 8.7 % 13.6 % 5.0 % -4.9 % (a) Represents the impact of the out-of-period adjustment made during the year ended December 31, 2022 to revise the book investment basis used to calculate deferred tax assets and the deferred tax provision. Blackstone’s effective tax rate for the year ended December 31, 2022 was impacted by recent increases in Blackstone’s state tax provisions for the jurisdictions in which it operates and larger benefits recorded in December 31, 2021 for valuation allowance releases. During the year ended December 31, 2022, Blackstone recorded an out-of-period adjustment to revise the book investment basis used to calculate deferred tax assets and the deferred tax provision. The cumulative impact of the correction related to prior years resulted in a decrease of $158.2 million in the Provision for Taxes for the year ended December 31, 2022 and a corresponding increase to Deferred Tax Assets as of December 31, 2022. The impact of the out-of-period adjustment on the effective income tax rate is reflected in the Basis Adjustment row in the effective income tax rate table above. Blackstone concluded the out-of-period adjustment was not material to the current or prior periods. Deferred income taxes reflect the net tax effects of temporary differences that may exist between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes using enacted tax rates in effect for the year in which the differences are expected to reverse. A summary of the tax effects of the temporary differences is as follows: December 31, 2022 2021 Deferred Tax Assets Investment Basis Differences/Net Unrealized Gains and Losses $ 2,031,002 $ 1,572,672 Other 31,720 8,965 Total Deferred Tax Assets 2,062,722 1,581,637 Deferred Tax Liabilities Investment Basis Differences/Net Unrealized Gains and Losses 15,409 15,421 Other 31,498 16,439 Total Deferred Tax Liabilities 46,907 31,860 Net Deferred Tax Assets $ 2,015,815 $ 1,549,777 The net increase in the deferred tax asset for the year ended December 31, 2022, compared to the year ended December 31, 2021, is primarily due to (a) recognition of additional tax basis in certain assets and recording corresponding deferred tax benefits related to quarterly exchanges of Blackstone Holdings Partnership units for common shares of Blackstone Inc., and (b) an out-of-period adjustment that Blackstone recorded to revise the book investment basis used to calculate deferred tax assets and the deferred tax provision. The adjustment was not material to the current or prior periods and reflects the cumulative impact of the correction, which generated an additional deferred tax asset for the year ended December 31, 2022. Realization of deferred tax assets depends on the expectation and character of future taxable income. In addition, Blackstone has no significant net operating losses carryforward at December 31, 2022. In evaluating the ability to realize deferred tax assets, Blackstone among other things, considers projections of taxable income (including character of such income), beginning with historic results and incorporating assumptions of the amount of future pretax operating income. These assumptions about future taxable income require significant judgment and are consistent with the plans and estimates that Blackstone uses to manage its business. To the extent any portion of the deferred tax assets are not considered to be more likely than not to be realized, valuation allowances are recorded. Currently, Blackstone does not believe it meets the indefinite reversal criteria that would preclude Blackstone from recognizing a deferred tax liability with respect to its foreign subsidiaries. Therefore, if applicable Blackstone recorded a deferred tax liability for any outside basis difference of an investment in a foreign subsidiary. Blackstone files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, Blackstone is subject to examination by federal and certain state, local and foreign tax authorities. As of December 31, 2022, the most material jurisdictions where Blackstone entities are under active examination are New York State and City. The following are the major filing jurisdictions and their respective earliest open period subject to examination: Jurisdiction Year Federal 2019 New York City 2009 New York State 2016 United Kingdom 2011 Blackstone’s unrecognized tax benefits, excluding related interest and penalties, were: December 31, 2022 2021 2020 Unrecognized Tax Benefits — January 1 $ 47,501 $ 32,933 $ 24,958 Additions for Tax Positions of Prior Years 106,059 14,557 7,959 Exchange Rate Fluctuations 64 11 16 Unrecognized Tax Benefits — December 31 $ 153,624 $ 47,501 $ 32,933 If recognized, the above tax benefits of $153.6 million and $47.5 million for the years ended December 31, 2022 and 2021, respectively, would reduce the annual effective rate. It is reasonably possible that significant changes in the balance of unrecognized tax benefits may occur during the twelve months subsequent to December 31, 2022. However, at this time, it is not possible to estimate the expected change to the total Unrecognized Tax Benefits and its impact on Blackstone’s effective tax rate. The unrecognized tax benefits are recorded in Accounts Payable, Accrued Expenses and Other Liabilities in the Consolidated Statements of Financial Condition. During the years ended December 31, 2022, 2021 and 2020, Blackstone accrued no penalties and accrued interest expense related to unrecognized tax benefits of $32.6 million, $1.5 million and $1.3 million, respectively. Other Income — Change in Tax Receivable Agreement Liability In 2022 and 2021, the $22.3 million and $(2.8) million, respectively, Change in Tax Receivable Agreement Liability was primarily attributable to a change in our state tax apportionment.

Earnings Per Share and Stockhol

Earnings Per Share and Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Earnings Per Share and Stockholders' Equity	16. Earnings Per Share and Stockholders’ Equity Earnings Per Share Basic and diluted net income per share of common stock for the years ended December 31, 2022, 2021 and 2020 was calculated as follows: Year Ended December 31, 2022 2021 2020 Net Income for Per Share of Common Stock Calculations Net Income Attributable to Blackstone Inc., Basic and Diluted $ 1,747,631 $ 5,857,397 $ 1,045,363 Shares/Units Outstanding Weighted-Average Shares of Common Stock Outstanding, Basic 740,664,038 719,766,879 696,933,548 Weighted-Average Shares of Unvested Deferred Restricted Common Stock 278,361 358,164 324,748 Weighted-Average Shares of Common Stock Outstanding, Diluted 740,942,399 720,125,043 697,258,296 Net Income Per Share of Common Stock Basic $ 2.36 $ 8.14 $ 1.50 Diluted $ 2.36 $ 8.13 $ 1.50 Dividends Declared Per Share of Common Stock (a) $ 4.94 $ 3.57 $ 1.91 (a) Dividends declared reflects the calendar date of the declaration for each distribution. The fourth quarter dividends, if any, for any fiscal year will be declared and paid in the subsequent fiscal year. 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 interests in Blackstone Holdings, inclusive of any tax impact. The hypothetical conversion may be dilutive to the extent there is activity at Blackstone Inc. level that has not previously been attributed to the non-controlling interests or if there is a change in tax rate as a result of a hypothetical conversion. The following table summarizes the anti-dilutive securities for the periods indicated: Year Ended December 31, 2022 2021 2020 Weighted-Average Blackstone Holdings Partnership Units 466,083,269 486,157,205 504,221,914 Stockholders’ Equity In connection with Blackstone’s conversion from a limited partnership to a corporation, effective July 1, 2019, each common unit of the partnership outstanding immediately prior to the conversion converted into one issued and outstanding, fully paid and nonassessable share of Class A common stock, $0.00001 par value per share, of the Company. The special voting unit of the partnership outstanding immediately prior to Blackstone’s conversion to a corporation converted into one issued and outstanding, fully paid and nonassessable share of Class B common stock, $0.00001 par value per share, of the Company. The general partner units of the partnership outstanding immediately prior to Blackstone’s conversion to a corporation converted into one issued and outstanding, fully paid and nonassessable share of Class C common stock, $0.00001 par value per share, of the Company. In connection with the share reclassification, effective February 26, 2021, the Certificate of Incorporation of Blackstone was amended and restated to: (a) rename the Class A common stock as “common stock,” which has the same rights and powers (including, without limitation, with respect to voting) that Blackstone’s Class A common stock formerly had, (b) reclassify the “Class B common stock” into a new “Series I preferred stock,” which has the same rights and powers that the Class B common stock formerly had, and (c) reclassify the Class C common stock into a new “Series II preferred stock,” which has the same rights and powers that the Class C common stock formerly had. In connection with such share reclassification, the Company authorized 10 billion shares of preferred stock with a par value of $0.00001, of which (a) 999,999,000 shares are designated as Series I preferred stock and (b) 1,000 shares are designated as Series II preferred stock. The remaining 9 billion shares may be designated from time to time in accordance with Blackstone's certificate of incorporation. There was 1 share of Series I preferred stock and 1 share of Series II preferred stock issued and outstanding as of December 31, 2022. Under Blackstone’s certificate of incorporation and Delaware law, holders of Blackstone’s common stock are entitled to vote, together with holders of Blackstone’s Series I preferred stock, voting as a single class, on a number of significant matters, including certain sales, exchanges or other dispositions of all or substantially all of Blackstone’s assets, a merger, consolidation or other business combination, the removal of the Series II Preferred Stockholder and forced transfer by the Series II Preferred Stockholder of its shares of Series II preferred stock and the designation of a successor Series II Preferred Stockholder. The Series II Preferred Stockholder elects the Company’s directors. Holders of Blackstone’s Series I preferred stock and Series II preferred stock are not entitled to dividends from the Company, or receipt of any of the Company’s assets in the event of any dissolution, liquidation or winding up. Blackstone Partners L.L.C. is the sole holder of the Series I preferred stock and Blackstone Group Management L.L.C. is the sole holder of the Series II preferred stock. 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 year ended December 31, 2020, Blackstone repurchased 9.0 million shares of common stock at a total cost of $474.0 million. During the year ended December 31, 2021, Blackstone repurchased 10.3 million shares of common stock at a total cost of $1.2 billion. During the year ended December 31, 2022, Blackstone repurchased 3.9 million shares of common stock at a total cost of $392.0 million. As of December 31, 2022, the amount remaining available for repurchases under the program was $1.1 billion. Shares Eligible for Dividends and Distributions As of December 31, 2022, 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 710,276,923 Unvested Participating Common Stock 32,376,835 Total Participating Common Stock 742,653,758 Participating Blackstone Holdings Partnership Units 463,758,383 1,206,412,141

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2022
Equity-Based Compensation	17. Equity-Based Compensation Blackstone has granted equity-based compensation awards to Blackstone’s senior managing directors, non-partner professionals, non-professionals and selected external advisers under Blackstone’s Amended and Restated 2007 Equity Incentive Plan (the “Equity Plan”). The Equity Plan allows for the granting of options, share appreciation rights or other share-based awards (shares, restricted shares, restricted shares of common stock, deferred restricted shares of common stock, phantom restricted shares of common stock or other share-based awards based in whole or in part on the fair value of shares of common stock or Blackstone Holdings Partnership Units) which may contain certain service or performance requirements. As of January 1, 2022, Blackstone had the ability to grant 171,096,250 shares under the Equity Plan. For the years ended December 31, 2022, 2021 and 2020 Blackstone recorded compensation expense of $846.3 million, $637.4 million, and $438.3 million, respectively, in relation to its equity-based awards with corresponding tax benefits of $135.9 million, $84.3 million, and $51.5 million, respectively. As of December 31, 2022, there was $2.1 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 Total vested and unvested outstanding shares, including common stock, Blackstone Holdings Partnership Units and deferred restricted shares of common stock, were 1,206,514,586 as of December 31, 2022. Total outstanding phantom shares were 59,903 as of December 31, 2022. A summary of the status of Blackstone’s unvested equity-based awards as of December 31, 2022 and of changes during the period January 1, 2022 through December 31, 2022 is presented below: Blackstone Holdings Blackstone Inc. Equity Settled Awards Cash Settled Awards Unvested Shares/Units Partnership Weighted- Deferred Weighted- Phantom Weighted- Balance, December 31, 2021 17,344,328 $ 37.37 26,537,813 $ 58.34 73,581 $ 137.65 Granted 1,172,015 33.73 12,073,302 124.80 28,130 125.93 Vested (6,124,743 ) 36.12 (6,274,790 ) 61.73 (6,413 ) 70.73 Forfeited (1,361,604 ) 34.73 (1,334,762 ) 75.81 (46,412 ) 130.22 Balance, December 31, 2022 11,029,996 $ 38.02 31,001,563 $ 82.94 48,886 $ 85.04 Shares/Units Expected to Vest The following unvested shares and units, after expected forfeitures, as of December 31, 2022, are expected to vest: Shares/Units Weighted-Average Blackstone Holdings Partnership Units 10,751,742 1.3 Deferred Restricted Shares of Common Stock 27,341,906 3.0 Total Equity-Based Awards 38,093,648 2.5 Phantom Shares 40,471 3.0 Deferred Restricted Shares of Common Stock and Phantom Shares Blackstone has granted deferred restricted shares of common stock to certain senior and non-senior managing director professionals, analysts and senior finance and administrative personnel and selected external advisers and phantom shares (cash settled equity-based awards) to other senior and non-senior managing director employees. Holders of deferred restricted shares of common stock and phantom shares are not entitled to any voting rights. Only phantom shares are to be settled in cash. Deferred restricted shares of common stock where the number of shares have not been set are liability classified and excluded from the above tables. The fair values of deferred restricted shares of common stock have been derived based on the closing price of common stock on the date of the grant, multiplied by the number of unvested awards and expensed over the assumed service period, which ranges from 1 to 5 years. Additionally, the calculation of the compensation expense assumes forfeiture rates based on historical turnover rates, ranging from 1.0% to 12.8% annually by employee class, and a per share discount, ranging from $1.23 to $21.53. The phantom shares vest over the assumed service period, which ranges from 1 to 5 years. On each such vesting date, Blackstone delivered or will deliver cash to the holder in an amount equal to the number of phantom shares held multiplied by the then fair market value of Blackstone’s common stock on such date. Additionally, the calculation of the compensation expense assumes a forfeiture rate based on a historical turnover rates, ranging from 10.4% to 12.8% annually by employee class. Blackstone is accounting for these cash settled awards as a liability. Blackstone paid $0.6 million, $1.1 million and $0.4 million to non-senior managing director employees in settlement of phantom shares for the years ended December 31, 2022, 2021 and 2020, respectively. Performance-Based Compensation During the year ended December 31, 2021, Blackstone issued performance-based compensation, the dollar value of which is based on the future achievement of established business performance conditions. The number of vested shares of common stock to be issued is variable based on the 30-day volume weighted-average price at the end of the performance period. Due to the nature of settlement, the performance-based compensation is classified as a liability. Compensation expense is recognized over the performance period based upon the probable outcome of the performance condition. Due to the variable share settlement, the tables above exclude the impact of this performance-based compensation, as the number of shares to be issued is not yet set. Blackstone Holdings Partnership Units Blackstone has granted deferred restricted Blackstone Holdings Partners Units to certain newly hired and pre-existing senior managing directors. Holders of deferred restricted Blackstone Holdings Partnership Units are not entitled to any voting rights. The fair values of deferred restricted Blackstone Holdings Partnership Units have been derived based on the closing price of Blackstone’s common units on the date of the grant, multiplied by the number of unvested awards and expensed over the assumed service period, which ranges from 1 to 3 years. Additionally, the calculation of the compensation expense assumes a forfeiture rate of 6.9%, based on historical experience.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions	18. Related Party Transactions Affiliate Receivables and Payables Due from Affiliates and Due to Affiliates consisted of the following: December 31, 2022 2021 Due from Affiliates Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated Entities and Portfolio Companies $ 3,344,813 $ 3,519,945 Due from Certain Non-Controlling Interest Holders and Blackstone Employees 741,319 1,099,899 Accrual for Potential Clawback of Previously Distributed Performance Allocations 60,575 37,023 $ 4,146,707 $ 4,656,867 December 31, 2022 2021 Due to Affiliates Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements $ 1,602,933 $ 1,558,393 Due to Non-Consolidated Entities 157,982 181,341 Due to Certain Non-Controlling Interest Holders and Blackstone Employees 198,875 77,664 Accrual for Potential Repayment of Previously Received Performance Allocations 158,691 88,700 $ 2,118,481 $ 1,906,098 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 December 31, 2022 and 2021, such investments aggregated $1.6 billion and $1.6 billion, respectively. Their share of the Net Income Attributable to Redeemable Non-Controlling and Non-Controlling Interests in Consolidated Entities aggregated $10.9 million, $471.5 million and $65.2 million for the years ended December 31, 2022, 2021 and 2020, respectively. 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 interest holders that would need to be repaid to the Blackstone Funds if the carry funds were to be liquidated based on the fair value of their underlying investments as of December 31, 2022. See Note 19. “Commitments and Contingencies — Contingencies — Contingent Obligations (Clawback).” 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 basis. The purchase and subsequent exchanges are expected to result in increases in the tax basis of the tangible and intangible assets of Blackstone Holdings and therefore reduce the amount of tax that Blackstone would otherwise be required to pay in the future. 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 newly-admitted 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 net present value of these estimated payments totals $477.0 million assuming a 15% discount rate and using Blackstone’s most recent projections relating to the estimated timing of the benefit to be received. Future payments under the tax receivable agreements in respect of subsequent exchanges would be in addition to these amounts. The payments under the tax receivable agreements are not conditioned upon continued ownership of Blackstone equity interests by the pre-IPO owners and the others mentioned above. Subsequent to December 31, 2022, payments totaling $67.5 million were made to certain pre-IPO owners and others mentioned above in accordance with the tax receivable agreement and related to tax benefits Blackstone received for the 2021 taxable year. 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 Interest Holders in the Supplemental Disclosure of Non-Cash Investing and Financing Activities in the Consolidated Statements of Cash Flows. 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 19. “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	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies	19. Commitments and Contingencies Commitments Investment Commitments Blackstone had $5.0 billion of investment commitments as of December 31, 2022 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 $210.0 million as of December 31, 2022 which includes $81.2 million of signed investment commitments for portfolio company acquisitions in the process of closing. Regulated Entities Certain U.S. and non-U.S. entities are subject to various investment adviser and other financial regulatory rules and requirements that may include minimum net capital requirements. These entities have continuously operated in excess of these requirements. This includes a number of U.S. entities that are registered as investment advisers with the SEC. These regulatory capital requirements may restrict Blackstone’s ability to withdraw capital from its entities. At December 31, 2022, $106.0 million of net assets of consolidated entities may be restricted as to the payment of cash dividends and advances to Blackstone. 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 $18.3 million as of December 31, 2022. 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 December 31, 2022 was $78.9 million. Strategic Venture In December 2022, Blackstone entered into a long-term strategic venture with the Regents of the University of California (“UC Investments”), an institutional investor that subscribed for $4.0 billion of BREIT Class I shares on January 1, 2023. The strategic venture between Blackstone and UC Investments provides a waterfall structure with UC Investments receiving an 11.25% target annualized net return on its $4.0 billion investment in BREIT shares (supported by a pledge by Blackstone of $1.0 billion of its current holdings in BREIT, including any appreciation or dividends received by Blackstone in respect thereof) and upside from its investment. Pursuant to the strategic venture, Blackstone is entitled to receive an incremental 5% cash promote payment from UC Investments on any returns received in excess of the target return. An asset or liability is recognized based on fair value with the maximum potential future obligation capped at the fair value of the assets pledged by Blackstone in the arrangement. As of December 31, 2022, the fair value of the assets pledged was $1.0 billion and the liability recognized was $48.6 million. 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 of BLP (collectively, the “Blackstone Defendants”). In July 2020, the Kentucky Supreme Court directed the Circuit Court to dismiss the action due to the plaintiffs’ lack of standing. 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. On December 9, 2022, the Mayberry Action was stayed pending resolution of an interlocutory appeal in which the Blackstone Defendants and others are arguing that the Circuit Court did not have jurisdiction to continue the Mayberry Action after the ruling of the Kentucky Supreme Court. 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. 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. BLP’s appeal is currently pending. 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: December 31, 2022 2021 Segment Blackstone Current and Total (b) Blackstone Current and Total (b) Real Estate $ 78,644 $ 51,771 $ 130,415 $ 34,080 $ 20,186 $ 54,266 Private Equity 19,279 8,569 27,848 5,158 2,196 7,354 Credit & Insurance 223 205 428 12,439 14,641 27,080 $ 98,146 $ 60,545 $ 158,691 $ 51,677 $ 37,023 $ 88,700 (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 18. “Related Party Transactions —Affiliate Receivables and Payables — Due to Affiliates.” During the year ended December 31, 2022, the Blackstone general partners paid a cash clawback obligation of $27.2 million relating to Blackstone Credit of which $12.5 million was paid by Blackstone Holdings and $14.7 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 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 December 31, 2022, $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 December 31, 2022, 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 $6.0 billion, on an after-tax basis where applicable, of which Blackstone Holdings is potentially liable for $5.7 billion if current and former Blackstone personnel default on their share of the liability, a possibility that management also views as remote.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2022
Segment Reporting	20. Segment Reporting Blackstone transacts its primary business in the United States and substantially all of its revenues are generated domestically. 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, high-yield real estate debt funds, liquid real estate debt funds. • 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 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. For the year ended December 31, 2022, Blackstone Real Estate Investment Trust (“BREIT”), a vehicle in the Real Estate segment accounted for $841.3 million of Blackstone’s Management and Advisory Fees, Net. Generally, Blackstone identifies the customer as the investors in its managed funds and investment vehicles; but for certain widely held vehicles like BREIT, the fund or investment vehicle is determined to be the customer. Blackstone evaluates the major customer disclosure in the context of its revenue streams as determined under the GAAP guidance for contracts with customers which includes Management and Advisory Fees, Net and Incentive Fees. For the years ended December 31, 2021 and 2020, no individual customer constituted more than 10% of Blackstone’s Management and Advisory Fees, Net and Incentive Fees. 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 ownership interests in Blackstone’s consolidated operating partnerships, removes the amortization of intangible assets and removes Transaction-Related Charges. 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. 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 as of December 31, 2022 and 2021, and for the years ended December 31, 2022, 2021 and 2020. December 31, 2022 and the Year Then Ended Real Estate Private Equity Credit & Hedge Fund Total Segments Management and Advisory Fees, Net Base Management Fees $ 2,462,179 $ 1,786,923 $ 1,230,710 $ 565,226 $ 6,045,038 Transaction, Advisory and Other Fees, Net 171,424 97,876 34,624 6,193 310,117 Management Fee Offsets (10,538 ) (56,062 ) (5,432 ) (177 ) (72,209 ) Total Management and Advisory Fees, Net 2,623,065 1,828,737 1,259,902 571,242 6,282,946 Fee Related Performance Revenues 1,075,424 (648 ) 374,721 — 1,449,497 Fee Related Compensation (1,039,125 ) (575,194 ) (529,784 ) (186,672 ) (2,330,775 ) Other Operating Expenses (315,331 ) (304,177 ) (264,181 ) (105,334 ) (989,023 ) Fee Related Earnings 2,344,033 948,718 840,658 279,236 4,412,645 Realized Performance Revenues 2,985,713 1,191,028 147,413 137,184 4,461,338 Realized Performance Compensation (1,168,045 ) (544,229 ) (63,846 ) (37,977 ) (1,814,097 ) Realized Principal Investment Income 150,790 139,767 80,993 24,706 396,256 Total Net Realizations 1,968,458 786,566 164,560 123,913 3,043,497 Total Segment Distributable Earnings $ 4,312,491 $ 1,735,284 $ 1,005,218 $ 403,149 $ 7,456,142 Segment Assets $ 14,637,693 $ 14,142,313 $ 6,346,001 $ 2,821,753 $ 37,947,760 December 31, 2021 and the Year Then Ended Real Estate Private Equity Credit & Hedge Fund Total Segments Management and Advisory Fees, Net Base Management Fees $ 1,895,412 $ 1,521,273 $ 765,905 $ 636,685 $ 4,819,275 Transaction, Advisory and Other Fees, Net 160,395 174,905 44,868 11,770 391,938 Management Fee Offsets (3,499 ) (33,247 ) (6,653 ) (572 ) (43,971 ) Total Management and Advisory Fees, Net 2,052,308 1,662,931 804,120 647,883 5,167,242 Fee Related Performance Revenues 1,695,019 212,128 118,097 — 2,025,244 Fee Related Compensation (1,161,349 ) (662,824 ) (367,322 ) (156,515 ) (2,348,010 ) Other Operating Expenses (234,505 ) (264,468 ) (199,912 ) (94,792 ) (793,677 ) Fee Related Earnings 2,351,473 947,767 354,983 396,576 4,050,799 Realized Performance Revenues 1,119,612 2,263,099 209,421 290,980 3,883,112 Realized Performance Compensation (443,220 ) (943,199 ) (94,450 ) (76,701 ) (1,557,570 ) Realized Principal Investment Income 196,869 263,368 70,796 56,733 587,766 Total Net Realizations 873,261 1,583,268 185,767 271,012 2,913,308 Total Segment Distributable Earnings $ 3,224,734 $ 2,531,035 $ 540,750 $ 667,588 $ 6,964,107 Segment Assets $ 14,866,437 $ 15,242,626 $ 6,522,091 $ 2,791,939 $ 39,423,093 Year Ended December 31, 2020 Real Estate Private Equity Credit & Hedge Fund Total Segments Management and Advisory Fees, Net Base Management Fees $ 1,553,483 $ 1,232,028 $ 603,713 $ 582,830 $ 3,972,054 Transaction, Advisory and Other Fees, Net 98,225 82,440 21,311 5,899 207,875 Management Fee Offsets (13,020 ) (44,628 ) (10,466 ) (650 ) (68,764 ) Total Management and Advisory Fees, Net 1,638,688 1,269,840 614,558 588,079 4,111,165 Fee Related Performance Revenues 338,161 — 40,515 — 378,676 Fee Related Compensation (618,105 ) (455,538 ) (261,214 ) (161,713 ) (1,496,570 ) Other Operating Expenses (183,132 ) (195,213 ) (165,114 ) (79,758 ) (623,217 ) Fee Related Earnings 1,175,612 619,089 228,745 346,608 2,370,054 Realized Performance Revenues 787,768 877,493 20,943 179,789 1,865,993 Realized Performance Compensation (312,698 ) (366,949 ) (3,476 ) (31,224 ) (714,347 ) Realized Principal Investment Income 24,764 72,089 7,970 54,110 158,933 Total Net Realizations 499,834 582,633 25,437 202,675 1,310,579 Total Segment Distributable Earnings $ 1,675,446 $ 1,201,722 $ 254,182 $ 549,283 $ 3,680,633 Reconciliations of Total Segment Amounts The following tables reconcile the Total Segment Revenues, Expenses and Distributable Earnings to their equivalent GAAP measure for the years ended December 31, 2022, 2021 and 2020 along with Total Assets as of December 31, 2022 and 2021: Year Ended December 31, 2022 2021 2020 Revenues Total GAAP Revenues $ 8,517,673 $ 22,577,148 $ 6,101,927 Less: Unrealized Performance Revenues (a) 3,436,978 (8,675,246 ) 384,758 Less: Unrealized Principal Investment (Income) Loss (b) 1,235,529 (679,767 ) 101,742 Less: Interest and Dividend Revenue (c) (285,075 ) (163,044 ) (130,112 ) Less: Other Revenue (d) (183,754 ) (202,885 ) 253,693 Impact of Consolidation (e) (109,379 ) (1,197,854 ) (234,148 ) Amortization of Intangibles (f) — — 1,548 Transaction-Related Charges (g) (24,656 ) 660 29,837 Intersegment Eliminations 2,721 4,352 5,522 Total Segment Revenue (h) $ 12,590,037 $ 11,663,364 $ 6,514,767 Year Ended December 31, 2022 2021 2020 Expenses Total GAAP Expenses $ 4,973,025 $ 9,476,617 $ 3,479,566 Less: Unrealized Performance Allocations Compensation (i) 1,470,588 (3,778,048 ) 154,516 Less: Equity-Based Compensation (j) (782,090 ) (559,537 ) (333,767 ) Less: Interest Expense (k) (316,569 ) (196,632 ) (165,022 ) Impact of Consolidation (e) (61,644 ) (25,673 ) (26,088 ) Amortization of Intangibles (f) (60,481 ) (68,256 ) (64,436 ) Transaction-Related Charges (g) (81,789 ) (143,378 ) (210,892 ) Administrative Fee Adjustment (l) (9,866 ) (10,188 ) (5,265 ) Intersegment Eliminations 2,721 4,352 5,522 Total Segment Expenses (m) $ 5,133,895 $ 4,699,257 $ 2,834,134 Year Ended December 31, 2022 2021 2020 Other Income Total GAAP Other Income $ (82,859 ) $ 458,865 $ (4,841 ) Impact of Consolidation (e) 82,859 (458,865 ) 4,841 Total Segment Other Income $ — $ — $ — Year Ended December 31, 2022 2021 2020 Income Before Provision for Taxes Total GAAP Income Before Provision for Taxes $ 3,461,789 $ 13,559,396 $ 2,617,520 Less: Unrealized Performance Revenues (a) 3,436,978 (8,675,246 ) 384,758 Less: Unrealized Principal Investment (Income) Loss (b) 1,235,529 (679,767 ) 101,742 Less: Interest and Dividend Revenue (c) (285,075 ) (163,044 ) (130,112 ) Less: Other Revenue (d) (183,754 ) (202,885 ) 253,693 Plus: Unrealized Performance Allocations Compensation (i) (1,470,588 ) 3,778,048 (154,516 ) Plus: Equity-Based Compensation (j) 782,090 559,537 333,767 Plus: Interest Expense (k) 316,569 196,632 165,022 Impact of Consolidation (e) 35,124 (1,631,046 ) (203,219 ) Amortization of Intangibles (f) 60,481 68,256 65,984 Transaction-Related Charges (g) 57,133 144,038 240,729 Administrative Fee Adjustment (l) 9,866 10,188 5,265 Total Segment Distributable Earnings $ 7,456,142 $ 6,964,107 $ 3,680,633 As of December 31, 2022 2021 Total Assets Total GAAP Assets $ 42,524,227 $ 41,196,408 Impact of Consolidation (e) (4,576,467 ) (1,773,315 ) Total Segment Assets $ 37,947,760 $ 39,423,093 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 years ended December 31, 2022, 2021 and 2020, Other Revenue on a GAAP basis was $184.6 million, $203.1 million and $(253.1) million and included $182.9 million, $200.6 million and $(257.8) 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 interests. (f) This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation. This amount includes amortization of intangibles associated with Blackstone’s investment in Pátria, which was historically accounted for under the equity method. As a result of Pátria’s IPO in January 2021, equity method has been discontinued and there is no longer amortization of intangibles associated with the investment. (g) 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. (h) Total Segment Revenues is comprised of the following: Year Ended December 31, 2022 2021 2020 Total Segment Management and Advisory Fees, Net $ 6,282,946 $ 5,167,242 $ 4,111,165 Total Segment Fee Related Performance Revenues 1,449,497 2,025,244 378,676 Total Segment Realized Performance Revenues 4,461,338 3,883,112 1,865,993 Total Segment Realized Principal Investment Income 396,256 587,766 158,933 Total Segment Revenues $ 12,590,037 $ 11,663,364 $ 6,514,767 (i) This adjustment removes Unrealized Performance Allocations Compensation. (j) This adjustment removes Equity-Based Compensation on a segment basis. (k) This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement. (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: Year Ended December 31, 2022 2021 2020 Total Segment Fee Related Compensation $ 2,330,775 $ 2,348,010 $ 1,496,570 Total Segment Realized Performance Compensation 1,814,097 1,557,570 714,347 Total Segment Other Operating Expenses 989,023 793,677 623,217 Total Segment Expenses $ 5,133,895 $ 4,699,257 $ 2,834,134 Reconciliations of Total Segment Components The following tables reconcile the components of Total Segments to their equivalent GAAP measures, reported on the Consolidated Statement of Operations for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 2021 2020 Management and Advisory Fees, Net GAAP $ 6,303,315 $ 5,170,707 $ 4,092,549 Segment Adjustment (a) (20,369 ) (3,465 ) 18,616 Total Segment $ 6,282,946 $ 5,167,242 $ 4,111,165 Year Ended December 31, 2022 2021 2020 GAAP Realized Performance Revenues to Total Segment Fee Related Performance Revenues GAAP Incentive Fees $ 525,127 $ 253,991 $ 138,661 Investment Income — Realized Performance Allocations 5,381,640 5,653,452 2,106,000 GAAP 5,906,767 5,907,443 2,244,661 Total Segment Less: Realized Performance Revenues (4,461,338 ) (3,883,112 ) (1,865,993 ) Segment Adjustment (b) 4,068 913 8 Total Segment $ 1,449,497 $ 2,025,244 $ 378,676 Year Ended December 31, 2022 2021 2020 GAAP Compensation to Total Segment Fee Related Compensation GAAP Compensation $ 2,569,780 $ 2,161,973 $ 1,855,619 Incentive Fee Compensation 207,998 98,112 44,425 Realized Performance Allocations Compensation 2,225,264 2,311,993 843,230 GAAP 5,003,042 4,572,078 2,743,274 Total Segment Less: Realized Performance Compensation (1,814,097 ) (1,557,570 ) (714,347 ) Less: Equity-Based Compensation — Fee Related Compensation (772,170 ) (551,263 ) (326,116 ) Less: Equity-Based Compensation — Performance Compensation (9,920 ) (8,274 ) (7,651 ) Segment Adjustment (c) (76,080 ) (106,961 ) (198,590 ) Total Segment $ 2,330,775 $ 2,348,010 $ 1,496,570 Year Ended December 31, 2022 2021 2020 GAAP General, Administrative and Other to Total Segment Other Operating Expenses GAAP $ 1,092,671 $ 917,847 $ 711,782 Segment Adjustment (d) (103,648 ) (124,170 ) (88,565 ) Total Segment $ 989,023 $ 793,677 $ 623,217 Year Ended December 31, 2022 2021 2020 Realized Performance Revenues GAAP Incentive Fees $ 525,127 $ 253,991 $ 138,661 Investment Income — Realized Performance Allocations 5,381,640 5,653,452 2,106,000 GAAP 5,906,767 5,907,443 2,244,661 Total Segment Less: Fee Related Performance Revenues (1,449,497 ) (2,025,244 ) (378,676 ) Segment Adjustment (b) 4,068 913 8 Total Segment $ 4,461,338 $ 3,883,112 $ 1,865,993 Year Ended December 31, 2022 2021 2020 Realized Performance Compensation GAAP Incentive Fee Compensation $ 207,998 $ 98,112 $ 44,425 Realized Performance Allocations Compensation 2,225,264 2,311,993 843,230 GAAP 2,433,262 2,410,105 887,655 Total Segment Less: Fee Related Performance Compensation (e) (609,245 ) (844,261 ) (165,657 ) Less: Equity-Based Compensation — Performance Compensation (9,920 ) (8,274 ) (7,651 ) Total Segment $ 1,814,097 $ 1,557,570 $ 714,347 Year Ended December 31, 2022 2021 2020 Realized Principal Investment Income GAAP $ 850,327 $ 1,003,822 $ 391,628 Segment Adjustment (f) (454,071 ) (416,056 ) (232,695 ) Total Segment $ 396,256 $ 587,766 $ 158,933 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 add back of Performance Revenues earned from consolidated Blackstone Funds which have been eliminated in consolidation. (c) Represents the removal of Transaction-Related Charges that are not recorded in the Total Segment measures. (d) 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. (e) Fee related performance compensation may include equity-based compensation based on fee related performance revenues. (f) 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.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events	21. Subsequent Events There have been no events since December 31, 2022 that require recognition or disclosure in the Consolidated Financial Statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Basis of Presentation	Basis of Presentation The accompanying consolidated fi nanc The 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.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in accordance with GAAP requires management to make estimates that affect the amounts reported in the consolidated financial statements and accompanying notes. Management believes that estimates utilized in the preparation of the consolidated financial statements are prudent and reasonable. Such estimates include those used in the valuation of investments and financial instruments, the measurement of deferred tax balances (including valuation allowances) and the accounting for Goodwill and equity-based compensation. Actual results could differ from those estimates and such differences could be material.
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 rights or participating rights that would overcome the control held by Blackstone. Accordingly, Blackstone consolidates Blackstone Holdings and records non-controlling interests to reflect the economic interests of the limited partners of Blackstone Holdings. 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 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 20. “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 Consolidated Statements of Financial Condition. Incentive Fees — each vehicle’s governing agreements. Incentive Fees will not be recognized as revenue until (a) it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur, or (b) the uncertainty associated with the variable consideration is subsequently resolved. Incentive Fees are typically recognized as revenue when realized at the end of the measurement period. Once realized, such fees are not subject to clawback or reversal. Accrued but unpaid Incentive Fees charged directly to investors in Blackstone vehicles as of the reporting date are recorded within Due from Affiliates in the Consolidated Statements of Financial Condition. 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 share of the results of the fund vehicle (a “pro-rata allocation”). In addition to a pro-rata allocation, and assuming certain investment returns are achieved, Blackstone is entitled to a disproportionate allocation of the income otherwise allocable to the limited partners, commonly referred to as carried interest (“Performance Allocations”). 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 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 interest holders that would need to be repaid to the Blackstone carry funds if the Blackstone carry funds were to be liquidated based on the current fair value of the underlying funds’ investments as of the reporting date. The actual clawback liability, however, generally does not become realized until the end of a fund’s life except for certain funds, including certain Blackstone real estate funds, multi-asset class investment funds and credit-focused funds, which may have an interim clawback liability. Performance Allocations in open-ended structures are realized based on the stated time period in the agreements and are generally not subject to clawback once paid. 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 allocations, its equity method investments, and other principal investments. Income (Loss) on Principal Investments is realized when Blackstone redeems all or a portion of its investment or when Blackstone receives cash income, such as dividends or distributions. Unrealized Income (Loss) on Principal Investments results from changes in the fair value of the underlying investment as well as the reversal of unrealized gain (loss) at the time an investment is realized. Interest and Dividend Revenue Other Revenue
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 CLO vehicles, government and agency securities, less liquid and restricted equity securities, and certain over-the-counter derivatives where the fair value is based on observable inputs. • 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 grade residual interests in securitizations, certain corporate bonds and loans held within CLO vehicles, and certain over-the-counter derivatives where the fair value is based on unobservable inputs. 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, including 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. 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 and liquidity risks. Investments for which market prices are not observable include private investments in the equity of operating companies, real estate properties, certain funds of hedge funds and credit-focused investments. 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 Accounting and Auditing 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 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 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 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 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, the institution of gates on redemptions or the suspension of redemptions or an ability to side pocket investments, at the discretion of the investee’s fund manager, and as a result, investments may not be redeemable at, or within three months of, the reporting date. A side-pocket is used by hedge funds and funds of hedge funds to separate investments that may lack a readily ascertainable value, are illiquid or are subject to liquidity restriction. Redemptions are generally not permitted until the investments within a side-pocket are liquidated or it is deemed that the conditions existing at the time that required the investment to be included in the side-pocket no longer exist. As the timing of either of these events is uncertain, the timing at which Blackstone may redeem an investment held in a side-pocket cannot be estimated. Further disclosure on instruments for which fair value is measured using NAV per share is presented in Note 5. “Net Asset Value as Fair Value.” 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 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 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 Consolidated Statements of Financial Condition. Strategic Partners’ results presented in Blackstone’s 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.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and Cash Equivalents represents cash on hand, cash held in banks, money market funds and liquid investments with original maturities of three months or less. Interest income from cash and cash equivalents is recorded in Interest and Dividend Revenue in the Consolidated Statements of Operations.
Cash Held by Blackstone Funds and Other	Cash Held by Blackstone Funds and Other Cash Held by Blackstone Funds and Other represents cash and cash equivalents held by consolidated Blackstone Funds and other consolidated entities. Such amounts are not available to fund the general liquidity needs of Blackstone.
Accounts Receivable	Accounts Receivable Accounts Receivable includes management fees receivable from limited partners, receivables from underlying funds in the fund of hedge funds business, placement and advisory fees receivables, receivables relating to unsettled sale transactions and loans extended to unaffiliated third parties. Accounts Receivable, excluding those for which the fair value option has been elected, are assessed periodically for collectability. Amounts determined to be uncollectible are charged directly to General, Administrative and Other Expenses in the Consolidated Statements of Operations.
Intangibles and Goodwill	Intangibles and Goodwill Blackstone’s intangible assets consist of contractual rights to earn future fee income, including management and advisory fees, Incentive Fees and Performance Allocations. Identifiable finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, ranging from three Goodwill comprises goodwill arising from the contribution and reorganization of Blackstone’s predecessor entities in 2007 immediately prior to its initial public offering (“IPO”) and the acquisitions of GSO Capital Partners LP in 2008, Strategic Partners in 2013, Harvest Fund Advisors LLC (“Harvest”) in 2017, Clarus Ventures LLC (“Clarus”) in 2018 and DCI LLC (“DCI”) in 2020. Goodwill is reviewed for impairment at least annually utilizing a qualitative or quantitative approach, and more frequently if circumstances indicate impairment may have occurred. The impairment testing for goodwill under the qualitative approach is based first on a qualitative assessment to determine if it is more likely than not that the fair value of Blackstone’s operating segments is less than their respective carrying values. The operating segments are considered the reporting units for testing the impairment of goodwill. If it is determined that it is more likely than not that an operating segment’s fair value is less than its carrying value or when the quantitative approach is used, an impairment loss is recognized to the extent by which the carrying value exceeds the fair value, not to exceed the total amount of goodwill allocated to that reporting unit.
Furniture, Equipment and Leasehold Improvements	Furniture, Equipment and Leasehold Improvements Furniture, equipment and leasehold improvements consist primarily of leasehold improvements, furniture, fixtures and equipment, computer hardware and software and are recorded at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the assets’ estimated useful economic lives, which for leasehold improvements are the lesser of the lease term or the life of the asset, generally ten three seven
Foreign Currency	Foreign Currency In the normal course of business, Blackstone may enter into transactions not denominated in United States dollars. Foreign exchange gains and losses arising on such transactions are recorded as Other Revenue in the Consolidated Statements of Operations. Foreign currency transaction gains and losses arising within consolidated Blackstone Funds are recorded in Net Gains (Losses) from Fund Investment Activities. In addition, Blackstone consolidates a number of entities that have a non-U.S. dollar functional currency. Non-U.S. dollar denominated assets and liabilities are translated to U.S. dollars at the exchange rate prevailing at the reporting date and income, expenses, gains and losses are translated at the prevailing exchange rate on the dates that they were recorded. Cumulative translation adjustments arising from the translation of non-U.S. dollar denominated operations are recorded in Other Comprehensive Income and allocated to Non-Controlling Interests in Consolidated Entities and Non-Controlling Interests in Blackstone Holdings, as applicable.
Comprehensive Income	Comprehensive Income Comprehensive Income consists of Net Income and Other Comprehensive Income. Blackstone’s Other Comprehensive Income is comprised of foreign currency cumulative translation adjustments.
Non-Controlling Interests in Consolidated Entities	Non-Controlling Interests in Consolidated Entities Non-Controlling Interests in Consolidated Entities represent the component of Equity in general partner entities and consolidated Blackstone Funds held by third party investors and employees. The percentage interests in consolidated Blackstone Funds held by third parties and employees is adjusted for general partner allocations and by subscriptions and redemptions in funds of hedge funds and certain credit-focused funds which occur during the reporting period. Income (Loss) and other comprehensive income, if applicable, arising from the respective entities is allocated to non-controlling interests in consolidated entities based on the relative ownership interests of third party investors and employees after considering any contractual arrangements that govern the allocation of income (loss) such as fees allocable to Blackstone Inc.
Redeemable Non-Controlling Interests in Consolidated Entities	Redeemable Non-Controlling Interests in Consolidated Entities 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 Interests in Consolidated Entities within the Consolidated Statements of Financial Condition. When redeemable amounts become legally payable to investors, they are classified as a liability and included in Accounts Payable, Accrued Expenses and Other Liabilities in the Consolidated Statements of Financial Condition. For all consolidated vehicles in which redemption rights have not been granted, non-controlling interests are presented within Equity in the Consolidated Statements of Financial Condition as Non-Controlling Interests in Consolidated Entities.
Non-Controlling Interests in Blackstone Holdings	Non-Controlling Interests in Blackstone Holdings Non-Controlling Interests in Blackstone Holdings represent the component of Equity in the consolidated Blackstone Holdings Partnerships held by Blackstone personnel and others who are limited partners of the Blackstone Holdings Partnerships. 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 Interests in Blackstone Holdings. This residual attribution is based on the year to date average percentage of Blackstone Holdings Partnership Units and unvested participating Holdings Partnership Units held by Blackstone personnel and others who are limited partners of the Blackstone Holdings Partnerships. Unvested participating Holdings Partnership Units are excluded from the attribution in periods of loss as they are not contractually obligated to share in losses of the Holdings Partnerships.
Compensation and Benefits	Compensation and Benefits Compensation and Benefits Compensation Compensation and Benefits — Incentive Fee Compensation — Compensation and Benefits — Performance Allocations Compensation —
Other Income	Other Income Net Gains (Losses) from Fund Investment Activities in the Consolidated Statements of Operations include net realized gains (losses) from realizations and sales of investments, the net change in unrealized gains (losses) resulting from changes in the fair value of investments and interest income and expense and dividends attributable to the consolidated Blackstone Funds’ investments. Expenses incurred by consolidated Blackstone funds are separately presented within Fund Expenses in the Consolidated Statements of Operations. Other Income also includes amounts attributable to the Reduction of the Tax Receivable Agreement Liability. See Note 15. “Income Taxes — Other Income — Change in the Tax Receivable Agreement Liability” for additional information.
Income Taxes	Income Taxes Blackstone Inc. is a corporation for U.S. federal income tax purposes and thus is subject to U.S. federal, state and local income taxes on Blackstone’s share of taxable income. The Blackstone Holdings Partnerships and certain of their subsidiaries operate in the U.S. as partnerships for U.S. federal income tax purposes and generally as corporate entities in non-U.S. jurisdictions. Accordingly, these entities in some cases are subject to New York City unincorporated business taxes or non-U.S. income taxes. In addition, certain of the wholly owned subsidiaries of Blackstone and the Blackstone Holdings Partnerships will be subject to federal, state and local corporate income taxes at the entity level and the related tax provision attributable to Blackstone’s share of this income tax is reflected in the consolidated financial statements. Provision for 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 consolidated financial statements. Unrecognized Tax Benefits Blackstone recognizes tax positions in the 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 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” method to the Blackstone Holdings Partnership Units to determine the dilutive impact, if any, of the exchange right included in the Blackstone Holdings Partnership Units. Blackstone applies the contingently issuable share model to contracts that may require the issuance of shares.
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. government and agency securities, asset-backed securities and corporate debt, represent collateralized financing transactions. Such transactions are recorded in the Consolidated Statements of Financial Condition at their contractual amounts and include accrued interest. The carrying value of reverse repurchase and repurchase agreements approximates fair value. 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 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 Consolidated Statements of Financial Condition. Additional disclosures relating to offsetting are discussed in Note 12. “Offsetting of Assets and Liabilities.”
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 Consolidated Statements of Financial Condition.
Derivative Instruments	Derivative Instruments Blackstone recognizes all derivatives as assets or liabilities on its 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 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 Consolidated Statements of Financial Condition. Blackstone has elected to not offset derivative assets and liabilities or financial assets in its 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 12. “Offsetting of Assets and Liabilities.”
Leases	Leases Blackstone determines if an arrangement is a lease at inception of the arrangement. Blackstone primarily enters into operating leases, as the lessee, for office space. Operating leases are included in Right-of-Use (“ROU”) Assets and Operating Lease Liabilities in the Consolidated Statement of Financial Condition. ROU Assets and Operating Lease Liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Blackstone determines the present value of the lease payments using an incremental borrowing rate based on information available at the inception date. Leases may include options to extend or terminate the lease which are included in the ROU Assets and Operating Lease Liability when they are reasonably certain of exercise. Certain leases include lease and nonlease components, which are accounted for as one single lease component. Occupancy lease agreements, in addition to contractual rent payments, generally include additional payments for certain costs incurred by the landlord, such as building expenses and utilities. To the extent these are fixed or determinable, they are included as part of the minimum lease payments used to measure the Operating Lease Liability. Operating lease expense associated with minimum lease payments is recognized on a straight-line basis over the lease term. When additional payments are based on usage or vary based on other factors, they are expensed when incurred as variable lease expense. Minimum lease payments for leases with an initial term of twelve months or less are not recorded on the Consolidated Statement of Financial Condition. Blackstone recognizes lease expense for these leases on a straight-line basis over the lease term. Additional disclosures relating to leases are discussed in Note 14. “Leases.”
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 consolidated financial statements when declared.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets, Net	Intangible Assets, Net consists of the following: December 31, 2022 2021 Finite-Lived Intangible Assets/Contractual Rights $ 1,745,376 $ 1,745,376 Accumulated Amortization (1,528,089 ) (1,460,992 ) Intangible Assets, Net $ 217,287 $ 284,384
Changes in Partnership's Intangible Assets, Net	Changes in Blackstone’s Intangible Assets, Net consists of the following: Year Ended December 31, 2022 2021 2020 Balance, Beginning of Year $ 284,384 $ 347,955 $ 397,508 Amortization Expense (67,097 ) (74,871 ) (71,053 ) Acquisitions (a) — 11,300 21,500 Balance, End of Year $ 217,287 $ 284,384 $ 347,955

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Investments	Investments consist of the following: December 31, 2022 2021 Investments of Consolidated Blackstone Funds $ 5,136,966 $ 2,018,829 Equity Method Investments Partnership Investments 5,530,419 5,635,212 Accrued Performance Allocations 12,360,684 17,096,873 Corporate Treasury Investments 1,053,540 658,066 Other Investments 3,471,642 3,256,063 $ 27,553,251 $ 28,665,043
Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in 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 Consolidated Statements of Operations: Year Ended December 31, 2022 2021 2020 Realized Gains (Losses) $ 99,457 $ 145,305 $ (126,397 ) Net Change in Unrealized Losses (264,204 ) 289,938 60,363 Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds (164,747 ) 435,243 (66,034 ) Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds 59,605 26,381 96,576 Other Income (Loss) — Net Gains (Losses) from Fund Investment Activities $ (105,142 ) $ 461,624 $ 30,542
Summarized Financial Information of Partnership's Equity Method Investments	The summarized financial information of Blackstone’s equity method investments for December 31, 2022 are as follows: December 31, 2022 and the Year Then Ended Real Private Credit & Hedge Fund Total Statement of Financial Condition Assets Investments $ 295,985,447 $ 182,732,362 $ 87,362,311 $ 38,209,892 $ 604,290,012 Other Assets 13,601,083 3,194,088 6,345,260 4,079,065 27,219,496 Total Assets $ 309,586,530 $ 185,926,450 $ 93,707,571 $ 42,288,957 $ 631,509,508 Liabilities and Equity Debt $ 118,075,949 $ 22,779,131 $ 39,049,599 $ 662,805 $ 180,567,484 Other Liabilities 7,735,780 1,310,998 5,644,625 2,092,757 16,784,160 Total Liabilities 125,811,729 24,090,129 44,694,224 2,755,562 197,351,644 Equity 183,774,801 161,836,321 49,013,347 39,533,395 434,157,864 Total Liabilities and Equity $ 309,586,530 $ 185,926,450 $ 93,707,571 $ 42,288,957 $ 631,509,508 Statement of Operations Interest Income $ 2,917,115 $ 2,012,916 $ 5,764,150 $ 16,069 $ 10,710,250 Other Income 9,432,802 824,779 690,193 286,444 11,234,218 Interest Expense (3,644,118 ) (722,626 ) (1,450,447 ) (41,522 ) (5,858,713 ) Other Expenses (11,089,520 ) (2,132,320 ) (1,303,902 ) (255,459 ) (14,781,201 ) Net Realized and Unrealized Gain from Investments 7,807,056 2,146,281 (1,330,895 ) 483,946 9,106,388 Net Income $ 5,423,335 $ 2,129,030 $ 2,369,099 $ 489,478 $ 10,410,942 The summarized financial information of Blackstone’s equity method investments for December 31, 2021 are as follows: December 31, 2021 and the Year Then Ended Real Estate Private Equity Credit & Hedge Fund Total Statement of Financial Condition Assets Investments $ 241,808,879 $ 175,726,829 $ 68,426,090 $ 39,691,668 $ 525,653,466 Other Assets 13,463,009 5,776,462 5,412,041 3,020,159 27,671,671 Total Assets $ 255,271,888 $ 181,503,291 $ 73,838,131 $ 42,711,827 $ 553,325,137 Liabilities and Equity Debt $ 76,760,932 $ 20,434,354 $ 30,792,984 $ 1,243,453 $ 129,231,723 Other Liabilities 6,999,032 2,153,071 3,159,548 3,084,558 15,396,209 Total Liabilities 83,759,964 22,587,425 33,952,532 4,328,011 144,627,932 Equity 171,511,924 158,915,866 39,885,599 38,383,816 408,697,205 Total Liabilities and Equity $ 255,271,888 $ 181,503,291 $ 73,838,131 $ 42,711,827 $ 553,325,137 Statement of Operations Interest Income $ 1,422,743 $ 1,640,402 $ 2,584,486 $ 3,563 $ 5,651,194 Other Income 6,115,960 318,485 306,490 315,894 7,056,829 Interest Expense (1,475,065 ) (331,350 ) (427,459 ) (30,073 ) (2,263,947 ) Other Expenses (6,847,739 ) (1,666,930 ) (828,689 ) (282,474 ) (9,625,832 ) Net Realized and Unrealized Gain from Investments 31,078,396 43,895,781 3,562,579 4,605,235 83,141,991 Net Income $ 30,294,295 $ 43,856,388 $ 5,197,407 $ 4,612,145 $ 83,960,235 (a) Other represents the summarized financial information of equity method investments whose results, for segment reporting purposes, have been allocated across more than one of Blackstone’s segments. The summarized financial information of Blackstone’s equity method investments for December 31, 2020 are as follows: December 31, 2020 and the Year Then Ended Real Private Credit & Hedge Fund Other (a) Total Statement of Financial Condition Assets Investments $ 140,317,595 $ 112,647,584 $ 25,473,283 $ 32,829,525 $ 11,915 $ 311,279,902 Other Assets 5,234,463 2,650,267 2,088,882 3,047,256 95,798 13,116,666 Total Assets $ 145,552,058 $ 115,297,851 $ 27,562,165 $ 35,876,781 $ 107,713 $ 324,396,568 Liabilities and Equity Debt $ 29,962,733 $ 15,928,802 $ 7,553,301 $ 886,292 $ — $ 54,331,128 Other Liabilities 5,777,808 1,657,846 1,216,354 3,320,551 48,275 12,020,834 Total Liabilities 35,740,541 17,586,648 8,769,655 4,206,843 48,275 66,351,962 Equity 109,811,517 97,711,203 18,792,510 31,669,938 59,438 258,044,606 Total Liabilities and Equity $ 145,552,058 $ 115,297,851 $ 27,562,165 $ 35,876,781 $ 107,713 $ 324,396,568 Statement of Operations Interest Income $ 608,120 $ 1,083,534 $ 1,196,544 $ 22,157 $ — $ 2,910,355 Other Income 1,074,818 71,219 323,577 283,250 115,504 1,868,368 Interest Expense (1,006,311 ) (345,060 ) (211,507 ) (68,887 ) — (1,631,765 ) Other Expenses (1,889,153 ) (1,405,029 ) (525,456 ) (225,384 ) (53,292 ) (4,098,314 ) Net Realized and Unrealized Gain (Losses) from Investments 5,150,127 7,638,733 (1,965,087 ) 2,449,079 — 13,272,852 Net Income (Loss) $ 3,937,601 $ 7,043,397 $ (1,181,929 ) $ 2,460,215 $ 62,212 $ 12,321,496 (a) Other represents the summarized financial information of equity method investments whose results, for segment reporting purposes, have been allocated across more than one of Blackstone’s segments.
Performance Fees Allocated to Funds	Accrued Performance Allocations to Blackstone were as follows: Real Private Credit & Hedge Fund Total Accrued Performance Allocations, December 31, 2021 $ 8,471,754 $ 7,550,468 $ 618,246 $ 456,405 $ 17,096,873 Performance Allocations as a Result of Changes in Fund Fair Values 2,072,431 (71,156 ) 106,622 58,216 2,166,113 Foreign Exchange Loss (122,812 ) — — — (122,812 ) Impact of Consolidation (10,393 ) — — — (10,393 ) Fund Distributions (5,076,863 ) (1,441,737 ) (154,970 ) (95,527 ) (6,769,097 ) Accrued Performance Allocations, December 31, 2022 $ 5,334,117 $ 6,037,575 $ 569,898 $ 419,094 $ 12,360,684
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: Year Ended December 31, 2022 2021 2020 Realized Gains (Losses) $ (21,511 ) $ 741 $ 44,700 Net Change in Unrealized Gains (Losses) (57,426 ) 39,549 (91,299 ) $ (78,937 ) $ 40,290 $ (46,599 )
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: Year Ended December 31, 2022 2021 2020 Realized Gains $ 203,327 $ 163,199 $ 19,573 Net Change in Unrealized Gains (Losses) (1,128,244 ) 340,867 (2,647 ) $ (924,917 ) $ 504,066 $ 16,926

Net Asset Value as Fair Value (

Net Asset Value as Fair Value (Tables)	12 Months Ended
	Dec. 31, 2022
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 December 31, 2022 is presented below: Strategy (a) Fair Value Redemption Redemption Equity $ 454,212 (b) (b) Total Real Estate 120,632 (c) (c) Credit Driven 26,752 (d) (d) Commodities 1,080 (e) (e) Diversified Instruments 17 (f) (f) $ 602,693 (a) As of December 31, 2022, Blackstone had no unfunded commitments. (b) The Equity category includes investments in hedge funds that invest primarily in domestic and international equity securities. Investment representing 23% 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 76% 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. Investments representing 100% of fair value of the 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. Investments representing 82% of the fair value of the investments in this category are in liquidation. The remaining 18% of 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. Investments representing 100% of the fair value of the 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. Investments representing 100% of the fair value of the 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)	12 Months Ended
	Dec. 31, 2022
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. December 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities Notional Fair Notional Fair Notional Fair Notional Fair Freestanding Derivatives Blackstone Interest Rate Contracts $ 789,540 $ 188,043 $ 621,700 $ 83,331 $ 609,132 $ 143,349 $ 692,442 $ 138,677 Foreign Currency Contracts 541,238 8,040 190,774 3,542 217,161 1,858 572,643 6,143 Credit Default Swaps 2,007 384 8,768 1,309 2,007 194 9,916 1,055 Total Return Swaps 42,233 6,210 — — — — — — Equity Options — — 996,592 48,581 — — — — 1,375,018 202,677 1,817,834 136,763 828,300 145,401 1,275,001 145,875 Investments of Consolidated Blackstone Funds Interest Rate Contracts 931,752 74,926 — — — — 14,000 764 Foreign Currency Contracts — — 5,133 284 20,764 339 54,300 370 Credit Default Swaps — — — — 3,401 321 22,865 799 931,752 74,926 5,133 284 24,165 660 91,165 1,933 $ 2,306,770 $ 277,603 $ 1,822,967 $ 137,047 $ 852,465 $ 146,061 $ 1,366,166 $ 147,808
Summary of Impact of Derivative Financial Instruments to Consolidated Statements of Operations	The table below summarizes the impact to the Consolidated Statements of Operations from derivative financial instruments: Year Ended December 31, 2022 2021 2020 Freestanding Derivatives Realized Gains (Losses) Interest Rate Contracts $ 15,319 $ 1,727 $ (7,643 ) Foreign Currency Contracts (8,520 ) (1,152 ) 1,105 Credit Default Swaps (231 ) (1,488 ) (109 ) Total Return Swaps 1,654 (1,254 ) (1,875 ) Other — (40 ) 14 8,222 (2,207 ) (8,508 ) Net Change in Unrealized Gains (Losses) Interest Rate Contracts 167,706 89,702 (117,145 ) Foreign Currency Contracts 9,666 608 1,231 Credit Default Swaps 73 1,112 (1,777 ) Total Return Swaps 5,290 2,130 (1,683 ) Equity Options 48,581 — — Other — (20 ) 57 231,316 93,532 (119,317 ) $ 239,538 $ 91,325 $ (127,825 )

Fair Value Option (Tables)

Fair Value Option (Tables)	12 Months Ended
	Dec. 31, 2022
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: December 31, 2022 2021 Assets Loans and Receivables $ 315,039 $ 392,732 Equity and Preferred Securities 1,868,192 516,539 Debt Securities 24,784 183,877 $ 2,208,015 $ 1,093,148 Liabilities Corporate Treasury Commitments $ 8,144 $ 636
Realized and Net Change in Unrealized Gains (Losses) on Financial Instruments on Financial Instruments on Which Fair Value Option was Elected	The following table presents the Realized and Net Change in Unrealized Gains (Losses) on financial instruments on which the fair value option was elected: Year Ended December 31, 2022 2021 2020 Net Change Net Change Net Change Realized in Unrealized Realized in Unrealized Realized in Unrealized Gains Gains Gains Gains Gains Gains (Losses) (Losses) (Losses) (Losses) (Losses) (Losses) Assets Loans and Receivables $ (10,733 ) $ (464 ) $ (11,661 ) $ 3,481 $ (10,314 ) $ (2,011 ) Equity and Preferred Securities 22,285 (91,338 ) 42,791 53,157 (342 ) (67,869 ) Debt Securities (22,240 ) (19,490 ) 14,399 (14,210 ) (22,783 ) 29,143 Assets of Consolidated CLO Vehicles (a) Corporate Loans — — — — (96,194 ) (226,542 ) Other — — — — — (325 ) $ (10,688 ) $ (111,292 ) $ 45,529 $ 42,428 $ (129,633 ) $ (267,604 ) Liabilities Liabilities of Consolidated CLO Vehicles (a) Senior Secured Notes $ — $ — $ — $ — $ — $ 199,445 Subordinated Notes — — — — — 30,046 Corporate Treasury Commitments — (7,508 ) — (383 ) — (244 ) $ — $ (7,508 ) $ — $ (383 ) $ — $ 229,247 (a) During the year ended December 31, 2020, Blackstone deconsolidated nine CLO vehicles.
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: December 31, 2022 December 31, 2021 For Financial Assets For Financial Assets Past Due (a) Past Due (a) Excess Excess Excess Excess (Deficiency) (Deficiency) (Deficiency) (Deficiency) 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 $ (2,861 ) $ — $ — $ (2,748 ) $ — $ — Debt Securities (48,670 ) — — (29,475 ) — — $ (51,531 ) $ — $ — $ (32,223 ) $ — $ —

Fair Value Measurements of Fi_2

Fair Value Measurements of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
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: 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 (b) 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 (c) 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 December 31, 2021 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents $ 173,408 $ — $ — $ — $ 173,408 Investments Investments of Consolidated Blackstone Funds Investment Funds — — — 18,365 18,365 Equity Securities, Partnerships and LLC Interests (a) 70,484 122,068 1,170,362 363,902 1,726,816 Debt Instruments 642 242,393 29,953 — 272,988 Freestanding Derivatives — 660 — — 660 Total Investments of Consolidated Blackstone Funds 71,126 365,121 1,200,315 382,267 2,018,829 Corporate Treasury Investments 86,877 570,712 477 — 658,066 Other Investments (b) 478,892 210,752 2,518,032 4,845 3,212,521 Total Investments 636,895 1,146,585 3,718,824 387,112 5,889,416 Accounts Receivable — Loans and Receivables — — 392,732 — 392,732 Other Assets — Freestanding Derivatives 113 145,288 — — 145,401 $ 810,416 $ 1,291,873 $ 4,111,556 $ 387,112 $ 6,600,957 Liabilities Securities Sold, Not Yet Purchased $ 4,292 $ 23,557 $ — $ — $ 27,849 Accounts Payable, Accrued Expenses and Other Liabilities Consolidated Blackstone Funds — Freestanding Derivatives — 1,933 — — 1,933 Freestanding Derivatives 323 145,552 — — 145,875 Corporate Treasury Commitments — — 636 — 636 Total Accounts Payable, Accrued Expenses and Other Liabilities 323 147,485 636 — 148,444 $ 4,615 $ 171,042 $ 636 $ — $ 176,293 LLC Limited Liability Company. (a) Equity Securities, Partnership and LLC Interest includes investments in investment funds. Prior period amounts have been reclassified to this presentation. (b) Other Investments includes Blackstone’s ownership of common stock of Corebridge. Following Corebridge’s IPO in September 2022, a quoted price for Corebridge’s common shares exists and as such the investment will be measured at fair value on a recurring basis as a Level I investment. Blackstone’s investment in Corebridge was previously valued as a Level III investment on a nonrecurring basis using the measurement alternative. See Note 4. “Investments — Other Investments” for additional details. (c) Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility. (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 December 31, 2022: Impact to Valuation from an Valuation Unobservable Weighted- Increase Fair Value Techniques Inputs Ranges Average (a) in Input Financial Assets Investments of Consolidated Blackstone Funds 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 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, 2021: Impact to Valuation from an Valuation Unobservable Weighted- Increase Fair Value Techniques Inputs Ranges Average (a) in Input Financial Assets Investments of Consolidated Blackstone Funds Equity Securities, Partnership and LLC Interests $ 1,170,362 Discounted Cash Flows Discount Rate 1.3% - 43.3% 10.4% Lower Exit Multiple - EBITDA 3.7x - 31.4x 14.7x Higher Exit Capitalization Rate 1.3% - 17.3% 4.9% Lower Debt Instruments 29,953 Discounted Cash Flows Discount Rate 6.5% - 19.3% 9.0% Lower Third Party Pricing n/a Total Investments of Consolidated Blackstone Funds 1,200,315 Corporate Treasury Investments 477 Discounted Cash Flows Discount Rate 9.4 % n/a Lower Third Party Pricing n/a Loans and Receivables 392,732 Discounted Cash Flows Discount Rate 6.5% - 12.2% 7.6% Lower Other Investments 2,518,032 Third Party Pricing n/a Transaction Price n/a $ 4,111,556 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 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	Level III Financial Assets at Fair Value Year Ended December 31, 2022 2021 Investments of Consolidated Funds Loans and Receivables Other Investments (a) Total Investments of Consolidated Funds Loans and Receivables Other Investments (a) Total Balance, Beginning of Period $ 1,200,315 $ 392,732 $ 43,987 $ 1,637,034 $ 858,310 $ 581,079 $ 46,158 $ 1,485,547 Transfer In Due to Consolidation and Acquisition 2,985,171 — — 2,985,171 — — — — Transfer In to Level III (b) 2,040 — 2,517 4,557 8,254 — 14,162 22,416 Transfer Out of Level III (b) (76,621 ) — (19,597 ) (96,218 ) (111,952 ) — (16,388 ) (128,340 ) Purchases 636,338 805,375 14,524 1,456,237 381,826 955,236 225,297 1,562,359 Sales (428,379 ) (882,668 ) (3,797 ) (1,314,844 ) (292,843 ) (1,132,405 ) (226,866 ) (1,652,114 ) Issuances — 39,514 — 39,514 — 58,221 — 58,221 Settlements — (55,308 ) (4,433 ) (59,741 ) — (85,444 ) — (85,444 ) Changes in Gains (Losses) Included in Earnings (69,032 ) 15,394 (2,230 ) (55,868 ) 356,720 16,045 1,624 374,389 Balance, End of Period $ 4,249,832 $ 315,039 $ 30,971 $ 4,595,842 $ 1,200,315 $ 392,732 $ 43,987 $ 1,637,034 Changes in Unrealized Gains (Losses) $ (136,037 ) $ (13,384 ) $ (11,271 ) $ (160,692 ) $ 298,740 $ (9,005 ) $ 1,412 $ 291,147 (a) Represents 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.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2022
Maximum Exposure to Loss Relating to Non-Consolidated VIEs	Blackstone’s maximum exposure to loss relating to non-consolidated VIEs were as follows: December 31, 2022 December 31, 2021 Investments $ 3,326,669 $ 3,337,757 Due from Affiliates 189,240 179,939 Potential Clawback Obligation 384,926 44,327 Maximum Exposure to Loss $ 3,900,835 $ 3,562,023 Amounts Due to Non-Consolidated VIEs $ 6 $ 105

Repurchase Agreements (Tables)

Repurchase Agreements (Tables)	12 Months Ended
	Dec. 31, 2022
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: December 31, 2022 Remaining Contractual Maturity of the Agreements Overnight and Up to 30 - 90 Greater than Continuous 30 Days Days 90 days Total Repurchase Agreements Asset-Backed Securities $ — $ — $ — $ — $ — Loans — 70,776 — 19,168 89,944 $ — $ 70,776 $ — $ 19,168 $ 89,944 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 12. “Offsetting of Assets and Liabilities” $ 89,944 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 12. “Offsetting of Assets and Liabilities” $ — December 31, 2021 Remaining Contractual Maturity of the Agreements Overnight and Up to 30 - 90 Greater than Continuous 30 Days Days 90 days Total Repurchase Agreements Asset-Backed Securities $ — $ 15,980 $ — $ — $ 15,980 Loans — — 42,000 — 42,000 $ — $ 15,980 $ 42,000 $ — $ 57,980 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 12. “Offsetting of Assets and Liabilities” $ 57,980 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 12. “Offsetting of Assets and Liabilities” $ —

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Other Assets	Other Assets consists of the following: December 31, 2022 2021 Furniture, Equipment and Leasehold Improvements $ 748,334 $ 523,452 Less: Accumulated Depreciation (336,621 ) (278,844 ) Furniture, Equipment and Leasehold Improvements, Net 411,713 244,608 Prepaid Expenses 165,079 92,359 Freestanding Derivatives 202,677 145,401 Other 20,989 10,568 $ 800,458 $ 492,936

Offsetting of Assets And Liab_2

Offsetting of Assets And Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Offsetting of Assets	The following tables present the offsetting of assets and liabilities as of December 31, 2022 and 2021: December 31, 2022 Gross and Net Gross Amounts Not Offset in the Statement of Financial Condition Financial Instruments (a) Cash Collateral Received Net Amount Assets Freestanding Derivatives $ 277,603 $ 165,897 $ 96,436 $ 15,270 December 31, 2022 Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts Not Offset in the Statement of Financial Condition Net Financial Cash Collateral Pledged 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
Offsetting of Liabilities	December 31, 2021 Gross and Net Amounts of Assets Presented in the Statement of Gross Amounts Not Offset in the Statement of Financial Condition Net Financial Cash Collateral Assets Freestanding Derivatives $ 146,061 $ 137,265 $ 41 $ 8,755 December 31, 2021 Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition Gross Amounts Not Offset in the Statement of Financial Condition Net Financial Cash Collateral Liabilities Freestanding Derivatives $ 147,666 $ 118,552 $ 1,347 $ 27,767 Repurchase Agreements 57,980 57,980 — — $ 205,646 $ 176,532 $ 1,347 $ 27,767

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2022
Partnership's Credit Facilities	Blackstone borrows and enters into credit agreements for its general operating and investment purposes and certain Blackstone Funds borrow to meet financing needs of their operating and investing activities. Borrowing facilities have been established for the benefit of selected Blackstone Funds. When a Blackstone Fund borrows from the facility in which it participates, the proceeds from the borrowing are strictly limited for its intended use by the borrowing fund and not available for other Blackstone purposes. Blackstone’s credit facilities consist of the following: December 31, 2022 2021 Credit Borrowing Effective Credit Borrowing Effective Revolving Credit Facility (a) $ 4,135,000 $ — - $ 2,000,000 $ 250,000 0.86 % Blackstone Issued Senior Notes (b) 4.750%, Due 2/15/2023 400,000 400,000 5.07 % 400,000 400,000 5.08 % 2.000%, Due 5/19/2025 321,150 321,150 2.19 % 341,100 341,100 2.11 % 1.000%, Due 10/5/2026 642,300 642,300 1.16 % 682,200 682,200 1.13 % 3.150%, Due 10/2/2027 300,000 300,000 3.29 % 300,000 300,000 3.30 % 5.900%, Due 11/3/2027 600,000 600,000 6.19 % — — - 1.625%, Due 8/5/2028 650,000 650,000 1.83 % 650,000 650,000 1.68 % 1.500%, Due 4/10/2029 642,300 642,300 1.61 % 682,200 682,200 1.55 % 2.500%, Due 1/10/2030 500,000 500,000 2.73 % 500,000 500,000 2.73 % 1.600%, Due 3/30/2031 500,000 500,000 1.70 % 500,000 500,000 1.70 % 2.000%, Due 1/30/2032 800,000 800,000 2.18 % 800,000 800,000 2.16 % 2.550%, Due 3/30/2032 500,000 500,000 2.66 % — — - 6.200%, Due 4/22/2033 900,000 900,000 6.40 % — — - 3.500%, Due 6/1/2034 535,250 535,250 3.79 % — — - 6.250%, Due 8/15/2042 250,000 250,000 6.65 % 250,000 250,000 6.65 % 5.000%, Due 6/15/2044 500,000 500,000 5.16 % 500,000 500,000 5.16 % 4.450%, Due 7/15/2045 350,000 350,000 4.56 % 350,000 350,000 4.56 % 4.000%, Due 10/2/2047 300,000 300,000 4.20 % 300,000 300,000 4.20 % 3.500%, Due 9/10/2049 400,000 400,000 3.61 % 400,000 400,000 3.61 % 2.800%, Due 9/30/2050 400,000 400,000 2.88 % 400,000 400,000 2.88 % 2.850%, Due 8/5/2051 550,000 550,000 2.92 % 550,000 550,000 2.89 % 3.200%, Due 1/30/2052 1,000,000 1,000,000 3.26 % — — - 15,176,000 11,041,000 9,605,500 7,855,500 Blackstone Fund Facilities (c) 1,450,000 1,450,000 - 101 101 1.61 % $ 16,626,000 $ 12,491,000 $ 9,605,601 $ 7,855,601 (a) As of December 31, 2022, the Issuer has a credit facility with Citibank, N.A., as Administrative Agent in the amount of $4.135 billion with a maturity date of June 3, 2027. Interest on the borrowings is based on an adjusted Secured Overnight Finance Rate (“SOFR”) rate or alternate base rate, in each case plus a margin, and undrawn commitments bear a commitment fee of 0.06%. The margin above adjusted SOFR used to calculate interest on borrowings was 0.75% plus an additional credit spread adjustment of 0.10 (b) The Issuer has issued long-term borrowings in the form of senior notes (the “Notes”). The Notes are unsecured and unsubordinated obligations of the Issuer. The Notes are fully and unconditionally guaranteed, jointly and severally, by Blackstone, Blackstone Holdings (the “Guarantors”), and the Issuer. The guarantees are unsecured and unsubordinated obligations of the Guarantors. Transaction costs related to the issuance of the Notes have been deducted from the Note liability and are being amortized over the life of the Notes. The indentures include covenants, including limitations on the Issuer’s and the Guarantors’ ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or lease assets. The indentures also provide for events of default and further provide that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the Notes and any accrued and unpaid interest on the Notes automatically become due and payable. All or a portion of the Notes may be redeemed at the Issuer’s option in whole or in part, at any time and from time to time, prior to their stated maturity, at the make-whole redemption price set forth in the Notes. If a change of control repurchase event occurs, the holders of the Notes may require the Issuer to repurchase the Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the date of repurchase. (c) Represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Certain borrowings under these facilities were used for bridge financing and general liquidity purposes. Other borrowings were used to finance the purchase of investments with the borrowing remaining in place until the disposition or refinancing event. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Because the timing of such events is unknown and may occur in the near term, these borrowings are considered short-term in nature. 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 asset and therefore, the stated interest rate and effective interest rate may differ. Borrowings were secured according to the terms of each facility and are generally secured by the investment purchased with the proceeds of the borrowing and/or the uncalled capital commitment of each respective fund. Certain facilities have commitment fees. When a fund borrows, the proceeds are available only for use by that fund and are not available for the benefit of other funds. Collateral within each fund is also available only against the borrowings by that fund and not against the borrowings of other funds.
Carrying Value and Fair Value of Blackstone Issued Notes	The following table presents the general characteristics of each of Blackstone’s notes, as well as their carrying value and fair value. The notes are included in Loans Payable within the Consolidated Statements of Financial Condition. All of the notes were issued at a discount. All of the notes accrue interest from the issue date thereof and all pay interest in arrears on a semi-annual December 31, 2022 2021 Senior Notes Carrying Value Fair Value (a) Carrying Value Fair Value (a) 4.750%, Due 2/15/2023 $ 399,838 $ 399,776 $ 398,581 $ 415,880 2.000%, Due 5/19/2025 325,292 305,754 338,275 362,078 1.000%, Due 10/5/2026 642,968 568,525 675,867 700,892 3.150%, Due 10/2/2027 298,101 271,284 297,738 317,610 5.900%, Due 11/3/2027 594,381 606,450 643,251 629,265 1.625%, Due 8/5/2028 644,456 530,933 678,085 720,062 1.500%, Due 4/10/2029 645,819 532,043 491,662 507,350 2.500%, Due 1/10/2030 492,604 405,965 495,541 467,750 1.600%, Due 3/30/2031 495,990 365,380 786,690 767,920 2.000%, Due 1/30/2032 788,082 589,407 — — 2.550%, Due 3/30/2032 495,207 390,370 — — 6.200%, Due 4/22/2033 891,277 907,965 — — 3.500%, Due 6/1/2034 504,695 452,934 — — 6.250%, Due 8/15/2042 239,176 251,480 238,914 361,775 5.000%, Due 6/15/2044 489,704 441,355 489,446 648,500 4.450%, Due 7/15/2045 344,549 287,242 344,412 426,195 4.000%, Due 10/2/2047 290,935 227,946 290,730 347,370 3.500%, Due 9/10/2049 392,259 275,588 392,089 431,240 2.800%, Due 9/30/2050 393,958 237,552 393,818 382,880 2.850%, Due 8/5/2051 543,162 323,527 542,963 531,355 3.200%, Due 1/30/2052 987,131 646,880 — — $ 10,899,584 $ 9,018,356 $ 7,498,062 $ 8,018,122 (a) Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy.
Scheduled Principal Payments for Borrowings	Scheduled principal payments for borrowings at December 31, 2022 were as follows: Operating Blackstone Fund Facilities Total Borrowings 2023 $ 400,000 $ — $ 400,000 2024 — — — 2025 321,150 — 321,150 2026 642,300 — 642,300 2027 900,000 — 900,000 Thereafter 8,777,550 1,450,000 10,227,550 $ 11,041,000 $ 1,450,000 $ 12,491,000

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of components of lease expense	The components of lease expense were as follows: Year Ended December 31, 2022 2021 2020 Operating Lease Cost Straight-Line Lease Cost (a) $ 139,740 $ 115,875 $ 107,970 Variable Lease Cost (b) 12,072 10,959 15,426 Sublease Income (888 ) (1,695 ) (2,191 ) $ 150,924 $ 125,139 $ 121,205 (a) Straight-line lease cost includes short-term leases, which are immaterial. (b) Variable lease cost approximates variable lease cash payments.
Schedule of Supplemental cash flow information related to leases	Supplemental cash flow information related to leases were as follows: Year Ended December 31, 2022 2021 2020 Operating Cash Flows for Operating Lease Liabilities $ 107,249 $ 96,007 $ 102,364 Non-Cash Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities $ 278,010 $ 352,298 $ 153,433
Schedule of Undiscounted cash flows on an annual basis for Operating Lease Liabilities	The following table shows the undiscounted cash flows on an annual basis for Operating Lease Liabilities 2023 $ 142,159 2024 151,807 2025 163,407 2026 161,642 2027 158,244 Thereafter 296,207 Total Lease Payments (a) 1,073,466 Less: Imputed Interest (52,012 ) Present Value of Operating Lease Liabilities $ 1,021,454 (a) Excludes signed leases that have not yet commenced.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Before Provision for Taxes	The Income Before Provision for Taxes consists of the following: Year Ended December 31, 2022 2021 2020 Income Before Provision (Benefit) for Taxes U.S. Domestic Income $ 3,023,588 $ 13,275,132 $ 2,311,734 Foreign Income 438,201 284,264 305,786 $ 3,461,789 $ 13,559,396 $ 2,617,520
Provision (Benefit) for Income Taxes	The Provision for Taxes consists of the following: Year Ended December 31, 2022 2021 2020 Current Federal Income Tax $ 503,075 $ 507,648 $ 163,227 Foreign Income Tax 75,859 55,376 38,914 State and Local Income Tax 255,421 156,735 66,355 834,355 719,759 268,496 Deferred Federal Income Tax (312,961 ) 373,223 86,958 Foreign Income Tax (3,048 ) (2,654 ) 870 State and Local Income Tax (45,466 ) 94,073 (310 ) (361,475 ) 464,642 87,518 Provision for Taxes $ 472,880 $ 1,184,401 $ 356,014
Summary of Blackstone's Tax Position	The following table summarizes Blackstone’s tax position: Year Ended December 31, 2022 2021 2020 Income Before Provision for Taxes $ 3,461,789 $ 13,559,396 $ 2,617,520 Provision for Taxes $ 472,880 $ 1,184,401 $ 356,014 Effective Income Tax Rate 13.7 % 8.7 % 13.6 %
Reconciliations of Effective Income Tax Rate to Federal Statutory Tax Rate	The following table reconciles the effective income tax rate to the U.S. federal statutory tax rate: 2022 2021 Year Ended December 31, vs. vs. 2022 2021 2020 2021 2020 Statutory U.S. Federal Income Tax Rate 21.0 % 21.0 % 21.0 % — — Income Passed Through to Non-Controlling Interest Holders -8.1 % -10.2 % -10.1 % 2.1 % -0.1 % State and Local Income Taxes 6.0 % 2.1 % 2.4 % 3.9 % -0.3 % Change to a Taxable Corporation — — 1.4 % — -1.4 % Change in Valuation Allowance — -4.1 % -2.8 % 4.1 % -1.3 % Basis Adjustment (a) -4.6 % — — -4.6 % — Other -0.6 % -0.1 % 1.7 % -0.5 % -1.8 % Effective Income Tax Rate 13.7 % 8.7 % 13.6 % 5.0 % -4.9 % (a) Represents the impact of the out-of-period adjustment made during the year ended December 31, 2022 to revise the book investment basis used to calculate deferred tax assets and the deferred tax provision.
Summary of Tax Effects of Temporary Differences	A summary of the tax effects of the temporary differences is as follows: December 31, 2022 2021 Deferred Tax Assets Investment Basis Differences/Net Unrealized Gains and Losses $ 2,031,002 $ 1,572,672 Other 31,720 8,965 Total Deferred Tax Assets 2,062,722 1,581,637 Deferred Tax Liabilities Investment Basis Differences/Net Unrealized Gains and Losses 15,409 15,421 Other 31,498 16,439 Total Deferred Tax Liabilities 46,907 31,860 Net Deferred Tax Assets $ 2,015,815 $ 1,549,777
Schedule of Major Filing Jurisdictions and Open Period Subject to Examinations	The following are the major filing jurisdictions and their respective earliest open period subject to examination: Jurisdiction Year Federal 2019 New York City 2009 New York State 2016 United Kingdom 2011
Blackstone's Unrecognized Tax Benefits Excluding Related Interest and Penalties	Blackstone’s unrecognized tax benefits, excluding related interest and penalties, were: December 31, 2022 2021 2020 Unrecognized Tax Benefits — January 1 $ 47,501 $ 32,933 $ 24,958 Additions for Tax Positions of Prior Years 106,059 14,557 7,959 Exchange Rate Fluctuations 64 11 16 Unrecognized Tax Benefits — December 31 $ 153,624 $ 47,501 $ 32,933

Earnings Per Share and Stockh_2

Earnings Per Share and Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Basic and Diluted Net Income Per Common Stock	Basic and diluted net income per share of common stock for the years ended December 31, 2022, 2021 and 2020 was calculated as follows: Year Ended December 31, 2022 2021 2020 Net Income for Per Share of Common Stock Calculations Net Income Attributable to Blackstone Inc., Basic and Diluted $ 1,747,631 $ 5,857,397 $ 1,045,363 Shares/Units Outstanding Weighted-Average Shares of Common Stock Outstanding, Basic 740,664,038 719,766,879 696,933,548 Weighted-Average Shares of Unvested Deferred Restricted Common Stock 278,361 358,164 324,748 Weighted-Average Shares of Common Stock Outstanding, Diluted 740,942,399 720,125,043 697,258,296 Net Income Per Share of Common Stock Basic $ 2.36 $ 8.14 $ 1.50 Diluted $ 2.36 $ 8.13 $ 1.50 Dividends Declared Per Share of Common Stock (a) $ 4.94 $ 3.57 $ 1.91 (a) Dividends declared reflects the calendar date of the declaration for each distribution. The fourth quarter dividends, if any, for any fiscal year will be declared and paid in the subsequent fiscal year.
Summary of Anti-Dilutive Securities	The following table summarizes the anti-dilutive securities for the periods indicated: Year Ended December 31, 2022 2021 2020 Weighted-Average Blackstone Holdings Partnership Units 466,083,269 486,157,205 504,221,914
Schedule of Shares Eligible For Dividends and Distribution	As of December 31, 2022, 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 710,276,923 Unvested Participating Common Stock 32,376,835 Total Participating Common Stock 742,653,758 Participating Blackstone Holdings Partnership Units 463,758,383 1,206,412,141

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of Status of Partnership's Unvested Equity-Based Awards	A summary of the status of Blackstone’s unvested equity-based awards as of December 31, 2022 and of changes during the period January 1, 2022 through December 31, 2022 is presented below: Blackstone Holdings Blackstone Inc. Equity Settled Awards Cash Settled Awards Unvested Shares/Units Partnership Weighted- Deferred Weighted- Phantom Weighted- Balance, December 31, 2021 17,344,328 $ 37.37 26,537,813 $ 58.34 73,581 $ 137.65 Granted 1,172,015 33.73 12,073,302 124.80 28,130 125.93 Vested (6,124,743 ) 36.12 (6,274,790 ) 61.73 (6,413 ) 70.73 Forfeited (1,361,604 ) 34.73 (1,334,762 ) 75.81 (46,412 ) 130.22 Balance, December 31, 2022 11,029,996 $ 38.02 31,001,563 $ 82.94 48,886 $ 85.04
Unvested Shares and Units, After Expected Forfeitures	The following unvested shares and units, after expected forfeitures, as of December 31, 2022, are expected to vest: Shares/Units Weighted-Average Blackstone Holdings Partnership Units 10,751,742 1.3 Deferred Restricted Shares of Common Stock 27,341,906 3.0 Total Equity-Based Awards 38,093,648 2.5 Phantom Shares 40,471 3.0

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Due from Affiliates and Due to Affiliates	Due from Affiliates and Due to Affiliates consisted of the following: December 31, 2022 2021 Due from Affiliates Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated Entities and Portfolio Companies $ 3,344,813 $ 3,519,945 Due from Certain Non-Controlling Interest Holders and Blackstone Employees 741,319 1,099,899 Accrual for Potential Clawback of Previously Distributed Performance Allocations 60,575 37,023 $ 4,146,707 $ 4,656,867 December 31, 2022 2021 Due to Affiliates Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements $ 1,602,933 $ 1,558,393 Due to Non-Consolidated Entities 157,982 181,341 Due to Certain Non-Controlling Interest Holders and Blackstone Employees 198,875 77,664 Accrual for Potential Repayment of Previously Received Performance Allocations 158,691 88,700 $ 2,118,481 $ 1,906,098

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Clawback Obligations by Segment	The following table presents the clawback obligations by segment: December 31, 2022 2021 Segment Blackstone Current and Total (b) Blackstone Current and Total (b) Real Estate $ 78,644 $ 51,771 $ 130,415 $ 34,080 $ 20,186 $ 54,266 Private Equity 19,279 8,569 27,848 5,158 2,196 7,354 Credit & Insurance 223 205 428 12,439 14,641 27,080 $ 98,146 $ 60,545 $ 158,691 $ 51,677 $ 37,023 $ 88,700 (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 18. “Related Party Transactions —Affiliate Receivables and Payables — Due to Affiliates.”

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Data of Segments	The following tables present the financial data for Blackstone’s four segments as of December 31, 2022 and 2021, and for the years ended December 31, 2022, 2021 and 2020. December 31, 2022 and the Year Then Ended Real Estate Private Equity Credit & Hedge Fund Total Segments Management and Advisory Fees, Net Base Management Fees $ 2,462,179 $ 1,786,923 $ 1,230,710 $ 565,226 $ 6,045,038 Transaction, Advisory and Other Fees, Net 171,424 97,876 34,624 6,193 310,117 Management Fee Offsets (10,538 ) (56,062 ) (5,432 ) (177 ) (72,209 ) Total Management and Advisory Fees, Net 2,623,065 1,828,737 1,259,902 571,242 6,282,946 Fee Related Performance Revenues 1,075,424 (648 ) 374,721 — 1,449,497 Fee Related Compensation (1,039,125 ) (575,194 ) (529,784 ) (186,672 ) (2,330,775 ) Other Operating Expenses (315,331 ) (304,177 ) (264,181 ) (105,334 ) (989,023 ) Fee Related Earnings 2,344,033 948,718 840,658 279,236 4,412,645 Realized Performance Revenues 2,985,713 1,191,028 147,413 137,184 4,461,338 Realized Performance Compensation (1,168,045 ) (544,229 ) (63,846 ) (37,977 ) (1,814,097 ) Realized Principal Investment Income 150,790 139,767 80,993 24,706 396,256 Total Net Realizations 1,968,458 786,566 164,560 123,913 3,043,497 Total Segment Distributable Earnings $ 4,312,491 $ 1,735,284 $ 1,005,218 $ 403,149 $ 7,456,142 Segment Assets $ 14,637,693 $ 14,142,313 $ 6,346,001 $ 2,821,753 $ 37,947,760 December 31, 2021 and the Year Then Ended Real Estate Private Equity Credit & Hedge Fund Total Segments Management and Advisory Fees, Net Base Management Fees $ 1,895,412 $ 1,521,273 $ 765,905 $ 636,685 $ 4,819,275 Transaction, Advisory and Other Fees, Net 160,395 174,905 44,868 11,770 391,938 Management Fee Offsets (3,499 ) (33,247 ) (6,653 ) (572 ) (43,971 ) Total Management and Advisory Fees, Net 2,052,308 1,662,931 804,120 647,883 5,167,242 Fee Related Performance Revenues 1,695,019 212,128 118,097 — 2,025,244 Fee Related Compensation (1,161,349 ) (662,824 ) (367,322 ) (156,515 ) (2,348,010 ) Other Operating Expenses (234,505 ) (264,468 ) (199,912 ) (94,792 ) (793,677 ) Fee Related Earnings 2,351,473 947,767 354,983 396,576 4,050,799 Realized Performance Revenues 1,119,612 2,263,099 209,421 290,980 3,883,112 Realized Performance Compensation (443,220 ) (943,199 ) (94,450 ) (76,701 ) (1,557,570 ) Realized Principal Investment Income 196,869 263,368 70,796 56,733 587,766 Total Net Realizations 873,261 1,583,268 185,767 271,012 2,913,308 Total Segment Distributable Earnings $ 3,224,734 $ 2,531,035 $ 540,750 $ 667,588 $ 6,964,107 Segment Assets $ 14,866,437 $ 15,242,626 $ 6,522,091 $ 2,791,939 $ 39,423,093 Year Ended December 31, 2020 Real Estate Private Equity Credit & Hedge Fund Total Segments Management and Advisory Fees, Net Base Management Fees $ 1,553,483 $ 1,232,028 $ 603,713 $ 582,830 $ 3,972,054 Transaction, Advisory and Other Fees, Net 98,225 82,440 21,311 5,899 207,875 Management Fee Offsets (13,020 ) (44,628 ) (10,466 ) (650 ) (68,764 ) Total Management and Advisory Fees, Net 1,638,688 1,269,840 614,558 588,079 4,111,165 Fee Related Performance Revenues 338,161 — 40,515 — 378,676 Fee Related Compensation (618,105 ) (455,538 ) (261,214 ) (161,713 ) (1,496,570 ) Other Operating Expenses (183,132 ) (195,213 ) (165,114 ) (79,758 ) (623,217 ) Fee Related Earnings 1,175,612 619,089 228,745 346,608 2,370,054 Realized Performance Revenues 787,768 877,493 20,943 179,789 1,865,993 Realized Performance Compensation (312,698 ) (366,949 ) (3,476 ) (31,224 ) (714,347 ) Realized Principal Investment Income 24,764 72,089 7,970 54,110 158,933 Total Net Realizations 499,834 582,633 25,437 202,675 1,310,579 Total Segment Distributable Earnings $ 1,675,446 $ 1,201,722 $ 254,182 $ 549,283 $ 3,680,633
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 years ended December 31, 2022, 2021 and 2020 along with Total Assets as of December 31, 2022 and 2021: Year Ended December 31, 2022 2021 2020 Revenues Total GAAP Revenues $ 8,517,673 $ 22,577,148 $ 6,101,927 Less: Unrealized Performance Revenues (a) 3,436,978 (8,675,246 ) 384,758 Less: Unrealized Principal Investment (Income) Loss (b) 1,235,529 (679,767 ) 101,742 Less: Interest and Dividend Revenue (c) (285,075 ) (163,044 ) (130,112 ) Less: Other Revenue (d) (183,754 ) (202,885 ) 253,693 Impact of Consolidation (e) (109,379 ) (1,197,854 ) (234,148 ) Amortization of Intangibles (f) — — 1,548 Transaction-Related Charges (g) (24,656 ) 660 29,837 Intersegment Eliminations 2,721 4,352 5,522 Total Segment Revenue (h) $ 12,590,037 $ 11,663,364 $ 6,514,767 Year Ended December 31, 2022 2021 2020 Expenses Total GAAP Expenses $ 4,973,025 $ 9,476,617 $ 3,479,566 Less: Unrealized Performance Allocations Compensation (i) 1,470,588 (3,778,048 ) 154,516 Less: Equity-Based Compensation (j) (782,090 ) (559,537 ) (333,767 ) Less: Interest Expense (k) (316,569 ) (196,632 ) (165,022 ) Impact of Consolidation (e) (61,644 ) (25,673 ) (26,088 ) Amortization of Intangibles (f) (60,481 ) (68,256 ) (64,436 ) Transaction-Related Charges (g) (81,789 ) (143,378 ) (210,892 ) Administrative Fee Adjustment (l) (9,866 ) (10,188 ) (5,265 ) Intersegment Eliminations 2,721 4,352 5,522 Total Segment Expenses (m) $ 5,133,895 $ 4,699,257 $ 2,834,134 Year Ended December 31, 2022 2021 2020 Other Income Total GAAP Other Income $ (82,859 ) $ 458,865 $ (4,841 ) Impact of Consolidation (e) 82,859 (458,865 ) 4,841 Total Segment Other Income $ — $ — $ — Year Ended December 31, 2022 2021 2020 Income Before Provision for Taxes Total GAAP Income Before Provision for Taxes $ 3,461,789 $ 13,559,396 $ 2,617,520 Less: Unrealized Performance Revenues (a) 3,436,978 (8,675,246 ) 384,758 Less: Unrealized Principal Investment (Income) Loss (b) 1,235,529 (679,767 ) 101,742 Less: Interest and Dividend Revenue (c) (285,075 ) (163,044 ) (130,112 ) Less: Other Revenue (d) (183,754 ) (202,885 ) 253,693 Plus: Unrealized Performance Allocations Compensation (i) (1,470,588 ) 3,778,048 (154,516 ) Plus: Equity-Based Compensation (j) 782,090 559,537 333,767 Plus: Interest Expense (k) 316,569 196,632 165,022 Impact of Consolidation (e) 35,124 (1,631,046 ) (203,219 ) Amortization of Intangibles (f) 60,481 68,256 65,984 Transaction-Related Charges (g) 57,133 144,038 240,729 Administrative Fee Adjustment (l) 9,866 10,188 5,265 Total Segment Distributable Earnings $ 7,456,142 $ 6,964,107 $ 3,680,633 As of December 31, 2022 2021 Total Assets Total GAAP Assets $ 42,524,227 $ 41,196,408 Impact of Consolidation (e) (4,576,467 ) (1,773,315 ) Total Segment Assets $ 37,947,760 $ 39,423,093 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 years ended December 31, 2022, 2021 and 2020, Other Revenue on a GAAP basis was $184.6 million, $203.1 million and $(253.1) million and included $182.9 million, $200.6 million and $(257.8) 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 interests. (f) This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation. This amount includes amortization of intangibles associated with Blackstone’s investment in Pátria, which was historically accounted for under the equity method. As a result of Pátria’s IPO in January 2021, equity method has been discontinued and there is no longer amortization of intangibles associated with the investment. (g) 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. (h) Total Segment Revenues is comprised of the following: Year Ended December 31, 2022 2021 2020 Total Segment Management and Advisory Fees, Net $ 6,282,946 $ 5,167,242 $ 4,111,165 Total Segment Fee Related Performance Revenues 1,449,497 2,025,244 378,676 Total Segment Realized Performance Revenues 4,461,338 3,883,112 1,865,993 Total Segment Realized Principal Investment Income 396,256 587,766 158,933 Total Segment Revenues $ 12,590,037 $ 11,663,364 $ 6,514,767 (i) This adjustment removes Unrealized Performance Allocations Compensation. (j) This adjustment removes Equity-Based Compensation on a segment basis. (k) This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement. (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: Year Ended December 31, 2022 2021 2020 Total Segment Fee Related Compensation $ 2,330,775 $ 2,348,010 $ 1,496,570 Total Segment Realized Performance Compensation 1,814,097 1,557,570 714,347 Total Segment Other Operating Expenses 989,023 793,677 623,217 Total Segment Expenses $ 5,133,895 $ 4,699,257 $ 2,834,134
Reconciliation of Total Segments to Reported on the Consolidated Statement of Operations	The following tables reconcile the components of Total Segments to their equivalent GAAP measures, reported on the Consolidated Statement of Operations for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 2021 2020 Management and Advisory Fees, Net GAAP $ 6,303,315 $ 5,170,707 $ 4,092,549 Segment Adjustment (a) (20,369 ) (3,465 ) 18,616 Total Segment $ 6,282,946 $ 5,167,242 $ 4,111,165 Year Ended December 31, 2022 2021 2020 GAAP Realized Performance Revenues to Total Segment Fee Related Performance Revenues GAAP Incentive Fees $ 525,127 $ 253,991 $ 138,661 Investment Income — Realized Performance Allocations 5,381,640 5,653,452 2,106,000 GAAP 5,906,767 5,907,443 2,244,661 Total Segment Less: Realized Performance Revenues (4,461,338 ) (3,883,112 ) (1,865,993 ) Segment Adjustment (b) 4,068 913 8 Total Segment $ 1,449,497 $ 2,025,244 $ 378,676 Year Ended December 31, 2022 2021 2020 GAAP Compensation to Total Segment Fee Related Compensation GAAP Compensation $ 2,569,780 $ 2,161,973 $ 1,855,619 Incentive Fee Compensation 207,998 98,112 44,425 Realized Performance Allocations Compensation 2,225,264 2,311,993 843,230 GAAP 5,003,042 4,572,078 2,743,274 Total Segment Less: Realized Performance Compensation (1,814,097 ) (1,557,570 ) (714,347 ) Less: Equity-Based Compensation — Fee Related Compensation (772,170 ) (551,263 ) (326,116 ) Less: Equity-Based Compensation — Performance Compensation (9,920 ) (8,274 ) (7,651 ) Segment Adjustment (c) (76,080 ) (106,961 ) (198,590 ) Total Segment $ 2,330,775 $ 2,348,010 $ 1,496,570 Year Ended December 31, 2022 2021 2020 GAAP General, Administrative and Other to Total Segment Other Operating Expenses GAAP $ 1,092,671 $ 917,847 $ 711,782 Segment Adjustment (d) (103,648 ) (124,170 ) (88,565 ) Total Segment $ 989,023 $ 793,677 $ 623,217 Year Ended December 31, 2022 2021 2020 Realized Performance Revenues GAAP Incentive Fees $ 525,127 $ 253,991 $ 138,661 Investment Income — Realized Performance Allocations 5,381,640 5,653,452 2,106,000 GAAP 5,906,767 5,907,443 2,244,661 Total Segment Less: Fee Related Performance Revenues (1,449,497 ) (2,025,244 ) (378,676 ) Segment Adjustment (b) 4,068 913 8 Total Segment $ 4,461,338 $ 3,883,112 $ 1,865,993 Year Ended December 31, 2022 2021 2020 Realized Performance Compensation GAAP Incentive Fee Compensation $ 207,998 $ 98,112 $ 44,425 Realized Performance Allocations Compensation 2,225,264 2,311,993 843,230 GAAP 2,433,262 2,410,105 887,655 Total Segment Less: Fee Related Performance Compensation (e) (609,245 ) (844,261 ) (165,657 ) Less: Equity-Based Compensation — Performance Compensation (9,920 ) (8,274 ) (7,651 ) Total Segment $ 1,814,097 $ 1,557,570 $ 714,347 Year Ended December 31, 2022 2021 2020 Realized Principal Investment Income GAAP $ 850,327 $ 1,003,822 $ 391,628 Segment Adjustment (f) (454,071 ) (416,056 ) (232,695 ) Total Segment $ 396,256 $ 587,766 $ 158,933 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 add back of Performance Revenues earned from consolidated Blackstone Funds which have been eliminated in consolidation. (c) Represents the removal of Transaction-Related Charges that are not recorded in the Total Segment measures. (d) 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. (e) Fee related performance compensation may include equity-based compensation based on fee related performance revenues. (f) 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.

Organization - Additional Infor

Organization - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 Segment Person	Dec. 31, 2021 Segment
Organization [Line Items]
Number of business segments | Segment	4	4
Number of Blackstone founders managing the Partnership | Person	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, useful life, years	7 years 1 month 6 days
Minimum
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, useful life, years	3 years
Minimum | Leasehold Improvements
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life, years	10 years
Minimum | Other Long Lived Assets
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life, years	3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, useful life, years	20 years
Maximum | Leasehold Improvements
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life, years	15 years
Maximum | Other Long Lived Assets
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life, years	7 years

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets/Contractual Rights		$ 1,745,376	$ 1,745,376
Accumulated Amortization		(1,528,089)	(1,460,992)
Intangible Assets, Net		217,287	284,384	$ 347,955	$ 397,508
Finite-lived Intangible Assets Acquired	[1]	0	11,300	$ 21,500
DCI acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired		$ 21,500	$ 11,300
[1]In December 2020, Blackstone acquired DCI, a San Francisco based systematic credit investment firm. Provisional amounts of Intangible Assets and Goodwill for the acquisition of DCI were reported for the year ended December 31, 2020, which resulted in a $21.5 million increase in Intangible Assets. During the year ended December 31, 2021, Blackstone obtained additional information needed to identify and measure the acquired assets, which resulted in a $11.3 million increase in Intangible Assets. Intangible Assets related to the DCI acquisition are primarily comprised of contractual rights to earn future fee income.

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Segment	Dec. 31, 2021 USD ($) Segment
Goodwill and Intangible Assets [Line Items]
Goodwill, carrying value	$ 1,890,202	$ 1,890,202
Number of business segments | Segment	4	4
Expected amortization of intangibles, 2022	$ 38,100
Expected amortization of intangibles, 2023	30,500
Expected amortization of intangibles, 2024	30,500
Expected amortization of intangibles, 2025	30,400
Expected amortization of intangibles, 2026	$ 29,300
Intangible assets expected to amortize over a weighted-average period	7 years 1 month 6 days
Private Equity Segment
Goodwill and Intangible Assets [Line Items]
Goodwill, carrying value	$ 870,000	$ 870,000
Real Estate Segment
Goodwill and Intangible Assets [Line Items]
Goodwill, carrying value	421,700	421,700
Hedge Fund Solutions
Goodwill and Intangible Assets [Line Items]
Goodwill, carrying value	172,100	172,100
Credit & Insurance Segment
Goodwill and Intangible Assets [Line Items]
Goodwill, carrying value	$ 426,400	$ 426,400

Changes in Partnership's Intang

Changes in Partnership's Intangible Assets, Net (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Balance, Beginning of Year		$ 284,384	$ 347,955	$ 397,508
Amortization Expense		(67,097)	(74,871)	(71,053)
Acquisitions	[1]	0	11,300	21,500
Balance, End of Year		$ 217,287	$ 284,384	$ 347,955
[1]In December 2020, Blackstone acquired DCI, a San Francisco based systematic credit investment firm. Provisional amounts of Intangible Assets and Goodwill for the acquisition of DCI were reported for the year ended December 31, 2020, which resulted in a $21.5 million increase in Intangible Assets. During the year ended December 31, 2021, Blackstone obtained additional information needed to identify and measure the acquired assets, which resulted in a $11.3 million increase in Intangible Assets. Intangible Assets related to the DCI acquisition are primarily comprised of contractual rights to earn future fee income.

Investments (Detail)

Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Investments	$ 27,553,251	$ 28,665,043
Partnership Investments
Schedule of Investments [Line Items]
Investments	5,530,419	5,635,212
Accrued Performance Allocations
Schedule of Investments [Line Items]
Investments	12,360,684	17,096,873
Other Investments
Schedule of Investments [Line Items]
Investments	3,471,642	3,256,063
Consolidated Blackstone Funds
Schedule of Investments [Line Items]
Investments	5,136,966	2,018,829
Corporate Treasury Investments
Schedule of Investments [Line Items]
Investments	$ 1,053,540	$ 658,066

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 26, 2021
Schedule of Investments [Line Items]
Investments	$ 27,553,251	$ 28,665,043
Recognized net gains related to equity method investments	292,100	1,900,000	$ 320,200
Equity investments, carrying value	$ 375,500
Investment Maturity Terms	five years
American International Group, Incs Life and Retirement [Member]
Schedule of Investments [Line Items]
Equity investments, carrying value	$ 6,400
Equity Method Investment, Aggregate Cost	$ 240,200
Patria Investments Limited and Patria Investimentos Ltda.
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage	40%
Patria Investments Limited and Patria Investimentos Ltda. | IPO
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage				10%
Consolidated Blackstone Funds | Blackstone
Schedule of Investments [Line Items]
Investments	$ 393,900	$ 375,800

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 Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gain (Loss) on Securities [Line Items]
Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds	$ 1,233,062	$ 16,788,721	$ 1,998,628
Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds	271,612	160,643	125,231
Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities	(105,142)	461,624	30,542
Consolidated Blackstone Funds
Gain (Loss) on Securities [Line Items]
Realized Gains (Losses)	99,457	145,305	(126,397)
Net Change in Unrealized Losses	(264,204)	289,938	60,363
Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds	(164,747)	435,243	(66,034)
Interest and Dividend Revenue Attributable to Consolidated Blackstone Funds	59,605	26,381	96,576
Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities	$ (105,142)	$ 461,624	$ 30,542

Summarized Financial Informatio

Summarized Financial Information of Partnership's Equity Method Investments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Investments	$ 604,290,012	$ 525,653,466	$ 311,279,902
Other Assets	27,219,496	27,671,671	13,116,666
Total Assets	42,524,227	41,196,408
Debt	180,567,484	129,231,723	54,331,128
Other Liabilities	16,784,160	15,396,209	12,020,834
Total Liabilities	22,843,160	19,490,362
Equity	17,966,061	21,638,018
Total Liabilities and Equity	42,524,227	41,196,408
Interest Income	10,710,250	5,651,194	2,910,355
Other Income	11,234,218	7,056,829	1,868,368
Interest Expense	(5,858,713)	(2,263,947)	(1,631,765)
Other Expenses	(14,781,201)	(9,625,832)	(4,098,314)
Net Realized and Unrealized Gain (Losses) from Investments	9,106,388	83,141,991	13,272,852
Net Income (Loss)	2,988,909	12,374,995	2,261,506
Equity Method Investment, Nonconsolidated Investee, Other [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	631,509,508	553,325,137	324,396,568
Total Liabilities	197,351,644	144,627,932	66,351,962
Equity	434,157,864	408,697,205	258,044,606
Total Liabilities and Equity	631,509,508	553,325,137	324,396,568
Net Income (Loss)	10,410,942	83,960,235	12,321,496
RealEstateFunds
Schedule of Equity Method Investments [Line Items]
Investments	295,985,447	241,808,879	140,317,595
Other Assets	13,601,083	13,463,009	5,234,463
Debt	118,075,949	76,760,932	29,962,733
Other Liabilities	7,735,780	6,999,032	5,777,808
Interest Income	2,917,115	1,422,743	608,120
Other Income	9,432,802	6,115,960	1,074,818
Interest Expense	(3,644,118)	(1,475,065)	(1,006,311)
Other Expenses	(11,089,520)	(6,847,739)	(1,889,153)
Net Realized and Unrealized Gain (Losses) from Investments	7,807,056	31,078,396	5,150,127
RealEstateFunds | Equity Method Investment, Nonconsolidated Investee, Other [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	309,586,530	255,271,888	145,552,058
Total Liabilities	125,811,729	83,759,964	35,740,541
Equity	183,774,801	171,511,924	109,811,517
Total Liabilities and Equity	309,586,530	255,271,888	145,552,058
Net Income (Loss)	5,423,335	30,294,295	3,937,601
Private Equity
Schedule of Equity Method Investments [Line Items]
Investments	182,732,362	175,726,829	112,647,584
Other Assets	3,194,088	5,776,462	2,650,267
Debt	22,779,131	20,434,354	15,928,802
Other Liabilities	1,310,998	2,153,071	1,657,846
Interest Income	2,012,916	1,640,402	1,083,534
Other Income	824,779	318,485	71,219
Interest Expense	(722,626)	(331,350)	(345,060)
Other Expenses	(2,132,320)	(1,666,930)	(1,405,029)
Net Realized and Unrealized Gain (Losses) from Investments	2,146,281	43,895,781	7,638,733
Private Equity | Equity Method Investment, Nonconsolidated Investee, Other [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	185,926,450	181,503,291	115,297,851
Total Liabilities	24,090,129	22,587,425	17,586,648
Equity	161,836,321	158,915,866	97,711,203
Total Liabilities and Equity	185,926,450	181,503,291	115,297,851
Net Income (Loss)	2,129,030	43,856,388	7,043,397
Credit & Insurance
Schedule of Equity Method Investments [Line Items]
Investments	87,362,311	68,426,090	25,473,283
Other Assets	6,345,260	5,412,041	2,088,882
Debt	39,049,599	30,792,984	7,553,301
Other Liabilities	5,644,625	3,159,548	1,216,354
Interest Income	5,764,150	2,584,486	1,196,544
Other Income	690,193	306,490	323,577
Interest Expense	(1,450,447)	(427,459)	(211,507)
Other Expenses	(1,303,902)	(828,689)	(525,456)
Net Realized and Unrealized Gain (Losses) from Investments	(1,330,895)	3,562,579	(1,965,087)
Credit & Insurance | Equity Method Investment, Nonconsolidated Investee, Other [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	93,707,571	73,838,131	27,562,165
Total Liabilities	44,694,224	33,952,532	8,769,655
Equity	49,013,347	39,885,599	18,792,510
Total Liabilities and Equity	93,707,571	73,838,131	27,562,165
Net Income (Loss)	2,369,099	5,197,407	(1,181,929)
Hedge Fund Solutions
Schedule of Equity Method Investments [Line Items]
Investments	38,209,892	39,691,668	32,829,525
Other Assets	4,079,065	3,020,159	3,047,256
Debt	662,805	1,243,453	886,292
Other Liabilities	2,092,757	3,084,558	3,320,551
Interest Income	16,069	3,563	22,157
Other Income	286,444	315,894	283,250
Interest Expense	(41,522)	(30,073)	(68,887)
Other Expenses	(255,459)	(282,474)	(225,384)
Net Realized and Unrealized Gain (Losses) from Investments	483,946	4,605,235	2,449,079
Hedge Fund Solutions | Equity Method Investment, Nonconsolidated Investee, Other [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	42,288,957	42,711,827	35,876,781
Total Liabilities	2,755,562	4,328,011	4,206,843
Equity	39,533,395	38,383,816	31,669,938
Total Liabilities and Equity	42,288,957	42,711,827	35,876,781
Net Income (Loss)	$ 489,478	$ 4,612,145	2,460,215
Other
Schedule of Equity Method Investments [Line Items]
Investments			11,915
Other Assets			95,798
Other Liabilities			48,275
Other Income			115,504
Other Expenses			(53,292)
Other | Equity Method Investment, Nonconsolidated Investee, Other [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets			107,713
Total Liabilities			48,275
Equity			59,438
Total Liabilities and Equity			107,713
Net Income (Loss)			$ 62,212

Performance Fees Allocated to F

Performance Fees Allocated to Funds (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	$ 28,665,043
Ending Balance	27,553,251
Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	17,096,873
Performance Allocations as a Result of Changes in Fund Fair Values	2,166,113
Foreign Exchange Loss	(122,812)
Impact of Consolidation	(10,393)
Fund Distributions	(6,769,097)
Ending Balance	12,360,684
Real Estate Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	8,471,754
Performance Allocations as a Result of Changes in Fund Fair Values	2,072,431
Foreign Exchange Loss	(122,812)
Impact of Consolidation	(10,393)
Fund Distributions	(5,076,863)
Ending Balance	5,334,117
Private Equity Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	7,550,468
Performance Allocations as a Result of Changes in Fund Fair Values	(71,156)
Fund Distributions	(1,441,737)
Ending Balance	6,037,575
Credit & Insurance Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	618,246
Performance Allocations as a Result of Changes in Fund Fair Values	106,622
Fund Distributions	(154,970)
Ending Balance	569,898
Hedge Fund Solutions Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	456,405
Performance Allocations as a Result of Changes in Fund Fair Values	58,216
Fund Distributions	(95,527)
Ending Balance	$ 419,094

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	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gain (Loss) on Securities [Line Items]
Total realized and net change in unrealized gains (losses)	$ 1,233,062	$ 16,788,721	$ 1,998,628
Corporate Treasury Investments
Gain (Loss) on Securities [Line Items]
Realized Gains (Losses)	(21,511)	741	44,700
Net Change in Unrealized Gains (Losses)	(57,426)	39,549	(91,299)
Total realized and net change in unrealized gains (losses)	$ (78,937)	$ 40,290	$ (46,599)

Realized and Net Change in Un_2

Realized and Net Change in Unrealized Gains (Losses) in Other Investments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gain (Loss) on Securities [Line Items]
Total Investment Income	$ 1,233,062	$ 16,788,721	$ 1,998,628
Other Investments
Gain (Loss) on Securities [Line Items]
Realized Gains	203,327	163,199	19,573
Net Change in Unrealized Gains (Losses)	(1,128,244)	340,867	(2,647)
Total Investment Income	$ (924,917)	$ 504,066	$ 16,926

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	Dec. 31, 2022 USD ($)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 602,693
Diversified Instruments
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	17
Credit Driven
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	26,752
Equity
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	454,212
Commodities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	1,080
RealEstateFunds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 120,632

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)	12 Months Ended
	Dec. 31, 2022
Diversified Instruments
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	100%
Credit Driven
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	82%
Percentage of investments redeemable as of reporting date	18%
Equity
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	23%
Percentage of investments redeemable as of reporting date	76%
Investee funds categorized as non redeemable, percentage	1%
Commodities
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	100%
Real Estate
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of investments redeemable as of reporting date	100%

Summary of Aggregate Notional A

Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	$ 2,306,770	$ 852,465
Derivative Liabilities, Notional	1,822,967	1,366,166
Derivative Assets, Fair Value	277,603	146,061
Derivative Liabilities, Fair Value	137,047	147,808
Freestanding Derivatives
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	931,752	24,165
Derivative Liabilities, Notional	5,133	91,165
Derivative Assets, Fair Value	74,926	660
Derivative Liabilities, Fair Value	284	1,933
Freestanding Derivatives | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	1,375,018	828,300
Derivative Liabilities, Notional	1,817,834	1,275,001
Derivative Assets, Fair Value	202,677	145,401
Derivative Liabilities, Fair Value	136,763	145,875
Freestanding Derivatives | Blackstone | Credit Default Swap
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	2,007	2,007
Derivative Liabilities, Notional	8,768	9,916
Derivative Assets, Fair Value	384	194
Derivative Liabilities, Fair Value	1,309	1,055
Freestanding Derivatives | Blackstone | Total Return Swaps
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	42,233
Derivative Assets, Fair Value	6,210
Freestanding Derivatives | Consolidated Blackstone Funds | Credit Default Swap
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional		3,401
Derivative Liabilities, Notional		22,865
Derivative Assets, Fair Value		321
Derivative Liabilities, Fair Value		799
Freestanding Derivatives | Foreign Currency Contracts | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	541,238	217,161
Derivative Liabilities, Notional	190,774	572,643
Derivative Assets, Fair Value	8,040	1,858
Derivative Liabilities, Fair Value	3,542	6,143
Freestanding Derivatives | Foreign Currency Contracts | Consolidated Blackstone Funds
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional		20,764
Derivative Liabilities, Notional	5,133	54,300
Derivative Assets, Fair Value		339
Derivative Liabilities, Fair Value	284	370
Freestanding Derivatives | Interest Rate Contracts | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	789,540	609,132
Derivative Liabilities, Notional	621,700	692,442
Derivative Assets, Fair Value	188,043	143,349
Derivative Liabilities, Fair Value	83,331	138,677
Freestanding Derivatives | Interest Rate Contracts | Consolidated Blackstone Funds
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	931,752
Derivative Liabilities, Notional		14,000
Derivative Assets, Fair Value	74,926
Derivative Liabilities, Fair Value		$ 764
Freestanding Derivatives | Equity Options | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Liabilities, Notional	996,592
Derivative Liabilities, Fair Value	$ 48,581

Summary of Impact of Derivative

Summary of Impact of Derivative Financial Instruments to Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Unrealized Gain (Loss) on Derivatives and Commodity Contracts	$ 239,538	$ 91,325	$ (127,825)
Freestanding Derivatives
Derivative [Line Items]
Realized Gains (Losses)	8,222	(2,207)	(8,508)
Net Change in Unrealized Gains (Losses)	231,316	93,532	(119,317)
Freestanding Derivatives | Total Return Swaps
Derivative [Line Items]
Realized Gains (Losses)	1,654	(1,254)	(1,875)
Net Change in Unrealized Gains (Losses)	5,290	2,130	(1,683)
Freestanding Derivatives | Credit Default Swap
Derivative [Line Items]
Realized Gains (Losses)	(231)	(1,488)	(109)
Net Change in Unrealized Gains (Losses)	73	1,112	(1,777)
Freestanding Derivatives | Interest Rate Contracts
Derivative [Line Items]
Realized Gains (Losses)	15,319	1,727	(7,643)
Net Change in Unrealized Gains (Losses)	167,706	89,702	(117,145)
Freestanding Derivatives | Foreign Currency Contracts
Derivative [Line Items]
Realized Gains (Losses)	(8,520)	(1,152)	1,105
Net Change in Unrealized Gains (Losses)	9,666	608	1,231
Freestanding Derivatives | Equity Options
Derivative [Line Items]
Net Change in Unrealized Gains (Losses)	$ 48,581
Freestanding Derivatives | Other
Derivative [Line Items]
Realized Gains (Losses)		(40)	14
Net Change in Unrealized Gains (Losses)		$ (20)	$ 57

Summary of Financial Instrument

Summary of Financial Instruments for Which Fair Value Option Has Been Elected (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans and Receivables	$ 315,039	$ 392,732
Assets	2,208,015	1,093,148
Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments	24,784	183,877
Equity and Preferred Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments	1,868,192	516,539
Liabilities of Consolidated CLO Vehicles
Fair Value, Option, Quantitative Disclosures [Line Items]
Corporate Treasury Commitments	$ 8,144	$ 636

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	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Realized Gains (Losses) | Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	$ (22,240)	$ 14,399	$ (22,783)
Realized Gains (Losses) | Assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(10,688)	45,529	(129,633)
Realized Gains (Losses) | Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(10,733)	(11,661)	(10,314)
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	22,285	42,791	(342)
Realized Gains (Losses) | Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments			(96,194)
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	(19,490)	(14,210)	29,143
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	(111,292)	42,428	(267,604)
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	(464)	3,481	(2,011)
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	(7,508)	(383)	229,247
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	(91,338)	53,157	(67,869)
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			(226,542)
Net Change In Unrealized Gains (Losses) | Senior Secured Notes
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments			199,445
Net Change In Unrealized Gains (Losses) | Subordinated Notes
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments			30,046
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	$ (7,508)	$ (383)	(244)
Net Change In Unrealized Gains (Losses) | Other
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments			$ (325)

Information for Financial Instr

Information for Financial Instruments on Which Fair Value Option was Elected (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Excess (Deficiency) of fair value over uncollected principal	$ (51,531)	$ (32,223)
Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Excess (Deficiency) of fair value over uncollected principal	(48,670)	(29,475)
Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Excess (Deficiency) of fair value over uncollected principal	$ (2,861)	$ (2,748)

Fair Value Option - Additional

Fair Value Option - Additional Information (Detail) - Loans and Receivables - USD ($)	Dec. 31, 2022	Dec. 31, 2021
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		Dec. 31, 2022		Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts Receivable — Loans and Receivables		$ 315,039		$ 392,732
Assets		2,208,015		1,093,148
Securities Sold, Not Yet Purchased		$ 3,825		27,849
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other Assets
Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets		$ 277,603		146,061
Derivatives liabilities		88,182		147,666
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		4,628,104		4,111,556
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents		1,134,733		173,408
Total Investments		9,318,953		5,889,416
Accounts Receivable — Loans and Receivables		315,039		392,732
Assets		10,971,402		6,600,957
Securities Sold, Not Yet Purchased		3,825		27,849
Total Accounts Payable, Accrued Expenses and Other Liabilities		145,191		148,444
Liabilities		149,016		176,293
Fair Value, Measurements, Recurring | Corporate Treasury Commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate Treasury Commitments	[1]	8,144		636
Fair Value, Measurements, Recurring | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities		136,763	[2]	145,875
Total Accounts Payable, Accrued Expenses and Other Liabilities		284		1,933
Fair Value, Measurements, Recurring | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[3]	3,128,447		3,212,521
Fair Value, Measurements, Recurring | Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		602,693		387,112
Assets		602,693		387,112
Fair Value, Measurements, Recurring | Net Asset Value | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[3]	5,985		4,845
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		5,136,966		2,018,829
Derivatives assets		202,677		145,401
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		74,926		660
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Investment Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments				18,365
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]	4,954,280		1,726,816
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		107,760		272,988
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		596,708		382,267
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Net Asset Value | Investment Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments				18,365
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]	596,708		363,902
Fair Value, Measurements, Recurring | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		1,053,540		658,066
Fair Value, Measurements, Recurring | Corporate Treasury Investments | Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		0		0
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents		1,134,733		173,408
Total Investments		1,601,901		636,895
Assets		2,736,913		810,416
Securities Sold, Not Yet Purchased		3,825		4,292
Total Accounts Payable, Accrued Expenses and Other Liabilities		21		323
Liabilities		3,846		4,615
Fair Value, Measurements, Recurring | Level 1 | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities		21	[2]	323
Fair Value, Measurements, Recurring | Level 1 | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[3]	1,473,611		478,892
Fair Value, Measurements, Recurring | Level 1 | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		12,024		71,126
Derivatives assets		279		113
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]	12,024		70,484
Fair Value, Measurements, Recurring | Level 1 | Consolidated Blackstone Funds | Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments				642
Fair Value, Measurements, Recurring | Level 1 | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		116,266		86,877
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		2,807,504		1,146,585
Assets		3,003,692		1,291,873
Securities Sold, Not Yet Purchased				23,557
Total Accounts Payable, Accrued Expenses and Other Liabilities		88,445		147,485
Liabilities		88,445		171,042
Fair Value, Measurements, Recurring | Level 2 | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities		88,161	[2]	145,552
Total Accounts Payable, Accrued Expenses and Other Liabilities		284		1,933
Fair Value, Measurements, Recurring | Level 2 | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[3]	1,597,696		210,752
Fair Value, Measurements, Recurring | Level 2 | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		278,402		365,121
Derivatives assets		196,188		145,288
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		74,926		660
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]	149,689		122,068
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		53,787		242,393
Fair Value, Measurements, Recurring | Level 2 | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		931,406		570,712
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		4,306,855		3,718,824
Accounts Receivable — Loans and Receivables		315,039		392,732
Assets		4,628,104		4,111,556
Total Accounts Payable, Accrued Expenses and Other Liabilities		56,725		636
Liabilities		56,725		636
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	[1]	8,144		636
Fair Value, Measurements, Recurring | Level 3 | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[2]	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	[3]	51,155		2,518,032
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		4,249,832		1,200,315
Derivatives assets		6,210
Assets		4,249,832		1,200,315
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]	4,195,859		1,170,362
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		53,973		29,953
Fair Value, Measurements, Recurring | Level 3 | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		$ 5,868		$ 477
[1]Corporate Treasury Commitments are measured using third party pricing.[2]Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility.[3]Other Investments includes Blackstone’s ownership of common stock of Corebridge. Following Corebridge’s IPO in September 2022, a quoted price for Corebridge’s common shares exists and as such the investment will be measured at fair value on a recurring basis as a Level I investment. Blackstone’s investment in Corebridge was previously valued as a Level III investment on a nonrecurring basis using the measurement alternative. See Note 4. “Investments — Other Investments” for additional details.[4]Equity Securities, Partnership and LLC Interest includes investments in investment funds. Prior period amounts have been reclassified to this presentation.

Summary of Quantitative Inputs

Summary of Quantitative Inputs and Assumptions for Items Categorized in Level III of Fair Value Hierarchy (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 2,208,015		$ 1,093,148
Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,628,104		4,111,556
Fair Value, Measurements, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		10,971,402		6,600,957
Fair Value, Measurements, Recurring | Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,628,104		4,111,556
Fair Value, Measurements, Recurring | Level 3 | Loans and Receivables | Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 315,039		$ 392,732
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		7.60%		6.50%
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		11.50%		12.20%
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]	9.80%		7.60%
Fair Value, Measurements, Recurring | Level 3 | Other Investments | Transaction Price Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 57,365	[2]	$ 2,518,032
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,249,832		1,200,315
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		$ 4,195,859		$ 1,170,362
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		4.10%		1.30%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Minimum | Discounted Cash Flows | Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate		2.60%		1.30%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Minimum | Discounted Cash Flows | EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA		4		3.7
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		34.50%		43.30%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Maximum | Discounted Cash Flows | Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate		14.40%		17.30%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Maximum | Discounted Cash Flows | EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA		30.6		31.4
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Weighted Average | Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate	[1]	8.80%
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]			10.40%
Exit Capitalization Rate	[1]	4.70%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Weighted Average | Discounted Cash Flows | Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate	[1]			4.90%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Weighted Average | Discounted Cash Flows | EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA	[1]	14.7		14.7
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Debt Instruments | Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 53,973		$ 29,953
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Debt Instruments | Minimum | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate				6.50%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Debt Instruments | Maximum | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate				19.30%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Debt Instruments | Weighted Average | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate	[1]			9%
Fair Value, Measurements, Recurring | Level 3 | Corporate Treasury Investments | Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 5,868		$ 477
Fair Value, Measurements, Recurring | Level 3 | Corporate Treasury Investments | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate				9.40%
[1]Unobservable inputs were weighted based on the fair value of the investments included in the range.[2]As of 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) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Unrealized Gain (Loss) on Investments
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	$ 1,637,034	$ 1,485,547
Transfer In Due to Consolidation and Acquisition	2,985,171
Transfer Into Level III	4,557	22,416
Transfer Out of Level III	(96,218)	(128,340)
Purchases	1,456,237	1,562,359
Sales	(1,314,844)	(1,652,114)
Issuances	39,514	58,221
Settlements	(59,741)	(85,444)
Changes in Gains (Losses) Included in Earnings	(55,868)	374,389
Balance, End of Period	4,595,842	1,637,034
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	(160,692)	291,147
Level 3 | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	43,987	46,158
Transfer Into Level III	2,517	14,162
Transfer Out of Level III	(19,597)	(16,388)
Purchases	14,524	225,297
Sales	(3,797)	(226,866)
Settlements	(4,433)
Changes in Gains (Losses) Included in Earnings	(2,230)	1,624
Balance, End of Period	30,971	43,987
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	(11,271)	1,412
Level 3 | Loans and Receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	392,732	581,079
Purchases	805,375	955,236
Sales	(882,668)	(1,132,405)
Issuances	39,514	58,221
Settlements	(55,308)	(85,444)
Changes in Gains (Losses) Included in Earnings	15,394	16,045
Balance, End of Period	315,039	392,732
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	(13,384)	(9,005)
Level 3 | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	1,200,315	858,310
Transfer In Due to Consolidation and Acquisition	2,985,171
Transfer Into Level III	2,040	8,254
Transfer Out of Level III	(76,621)	(111,952)
Purchases	636,338	381,826
Sales	(428,379)	(292,843)
Changes in Gains (Losses) Included in Earnings	(69,032)	356,720
Balance, End of Period	4,249,832	1,200,315
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	$ (136,037)	$ 298,740

Maximum Exposure to Loss Relati

Maximum Exposure to Loss Relating to Non-Consolidated VIEs (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
VIE Assets	$ 42,524,227	$ 41,196,408
VIE Liabilities	22,843,160	19,490,362
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	3,900,835	3,562,023
Variable Interest Entity, Not Primary Beneficiary | Investments
Variable Interest Entity [Line Items]
VIE Assets	3,326,669	3,337,757
Variable Interest Entity, Not Primary Beneficiary | Due from Affiliates
Variable Interest Entity [Line Items]
VIE Assets	189,240	179,939
Variable Interest Entity, Not Primary Beneficiary | Potential Clawback Obligation
Variable Interest Entity [Line Items]
VIE Liabilities	384,926	44,327
Variable Interest Entity, Not Primary Beneficiary | Amounts Due to Non-Consolidated VIEs
Variable Interest Entity [Line Items]
VIE Liabilities	$ 6	$ 105

Repurchase Agreements - Additio

Repurchase Agreements - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Securities Financing Transaction [Line Items]
Pledged securities with carrying value to collateralize its repurchase agreements	$ 89.9	$ 63

Schedule of Repurchase Agreemen

Schedule of Repurchase Agreements Obligation by Type of Collateral Pledged (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	$ 89,944	$ 57,980
Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 12. "Offsetting of Assets and Liabilities"	89,944	57,980
Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 12. "Offsetting of Assets and Liabilities"	0	0
Asset-backed Securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	15,980
Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	89,944	42,000
Overnight and Continuous
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	0
Overnight and Continuous | Asset-backed Securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	0
Overnight and Continuous | Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	0
Up to 30 Days
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	70,776	15,980
Up to 30 Days | Asset-backed Securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	15,980
Up to 30 Days | Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	70,776	0
30 - 90 Days
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	42,000
30 - 90 Days | Asset-backed Securities
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	0
30 - 90 Days | Loans
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	0	42,000
Greater than 90 Days
Assets Sold under Agreements to Repurchase [Line Items]
Repurchase Agreements	19,168	0
Greater than 90 Days | Asset-backed Securities
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	$ 19,168	$ 0

Other Assets - Additional Infor

Other Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Other Assets [Line Items]
Depreciation expense	$ 69.2	$ 52.2	$ 35.1

Components of Other Assets (Det

Components of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Other Assets [Line Items]
Furniture, Equipment and Leasehold Improvements	$ 748,334	$ 523,452
Less: Accumulated Depreciation	(336,621)	(278,844)
Furniture, Equipment and Leasehold Improvements, Net	411,713	244,608
Prepaid Expenses	165,079	92,359
Freestanding Derivatives	202,677	145,401
Other	20,989	10,568
Total Other Assets	$ 800,458	$ 492,936

Offsetting of Assets and Liab_3

Offsetting of Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Offsetting Assets and Liabilities [Line Items]
Repurchase agreements gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	$ 89,944	$ 57,980
Repurchase agreements gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	89,944	57,980
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	178,126	205,646
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	175,310	176,532
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	1,345	1,347
Net Amount	1,471	27,767
Freestanding Derivatives
Offsetting Assets and Liabilities [Line Items]
Derivatives gross and Net Amounts of Assets Presented in the Statement of Financial Condition	277,603	146,061
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	165,897	137,265
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	96,436	41
Derivatives Net Amount	15,270	8,755
Derivatives gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	88,182	147,666
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	85,366	118,552
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	1,345	1,347
Derivatives Net Amount	$ 1,471	$ 27,767

Offsetting Of Assets And Liab_4

Offsetting Of Assets And Liabilities - Additional Information (Detail) - Cash Pooling Arrangement $ in Millions	Dec. 31, 2022 USD ($)
Offsetting Assets [Line Items]
Aggregate cash balance on deposit relating to the cash pooling arrangement	$ 805.3
Overdraft facility	$ 805.2

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) € in Millions, $ in Millions					12 Months Ended
	Nov. 03, 2022 USD ($)	Jun. 03, 2022 USD ($)	Jun. 01, 2022	Jan. 10, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 01, 2021 EUR (€)
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity					$ 4,135	$ 4,135
Line of credit expiration date					Jun. 03, 2027
Senior Notes Due March 30, 2032 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 500
Debt instrument, maturity date				Mar. 30, 2032
Debt instrument, interest rate				2.55%
Debt instrument, payment terms				Interest on the January 2032 Notes is payable semi-annually in arrears on March 30 and September 30 of each year commencing on March 30, 2022.
Debt instrument, frequency of periodic payment				semi-annually
Senior Notes Due January 30, 2052 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 1,000
Debt instrument, maturity date				Jan. 30, 2052
Debt instrument, interest rate				3.20%
Debt instrument, payment terms				Interest on the 2052 Notes is payable semi-annually in arrears on January 30 and July 30 of each year commencing on July 30, 2022.
Debt instrument, frequency of periodic payment				semi-annually
Senior Notes Due June One Two Thousand And Thirty Four [Member]
Debt Instrument [Line Items]
Debt instrument, face amount | €							€ 500
Debt instrument, maturity date			Jun. 01, 2034
Debt instrument, interest rate			3.50%
Debt instrument, payment terms			Interest on the 2034 Notes is payable annually in arrears on June 1 of each year commencing on June 1, 2023.
Debt instrument, frequency of periodic payment			annually
Senior Notes Due April Twenty Two Two Thousand Thirty Three Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 900
Debt instrument, maturity date	Apr. 22, 2033
Debt instrument, interest rate	6.20%
Debt instrument, payment terms	Interest on the 2033 Notes is payable semi-annually in arrears on April 22 and October 22 of each year commencing on April 22, 2023.
Debt instrument, frequency of periodic payment	semi-annually
Senior Notes Due November Three Two Thousand Twenty Seven Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600
Debt instrument, maturity date	Nov. 03, 2027
Debt instrument, interest rate	5.90%
Debt instrument, payment terms	Interest on the 2027 Notes is payable semi-annually in arrears on May 3 and November 3 of each year commencing on May 3, 2023.
Debt instrument, frequency of periodic payment	semi-annually
Amended And Restated [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 4,135
Amended And Restated [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit expiration date		Jun. 03, 2027
Amended And Restated [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit expiration date		Nov. 24, 2025

Partnership Credit Facilities (

Partnership Credit Facilities (Detail) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Credit Available		$ 16,626,000	$ 9,605,601
Borrowing Outstanding		12,491,000	7,855,601
Credit Facility
Line of Credit Facility [Line Items]
Credit Available	[1]	4,135,000	2,000,000
Borrowing Outstanding	[1]	$ 0	$ 250,000
Effective Interest Rate	[1]	0%	0.86%
Senior Secured Note | 4.750% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 400,000	$ 400,000
Borrowing Outstanding	[2]	$ 400,000	$ 400,000
Effective Interest Rate	[2]	5.07%	5.08%
Senior Secured Note | 2.000% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 321,150	$ 341,100
Borrowing Outstanding	[2]	$ 321,150	$ 341,100
Effective Interest Rate	[2]	2.19%	2.11%
Senior Secured Note | 1.000% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 642,300	$ 682,200
Borrowing Outstanding	[2]	$ 642,300	$ 682,200
Effective Interest Rate	[2]	1.16%	1.13%
Senior Secured Note | 3.150% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 300,000	$ 300,000
Borrowing Outstanding	[2]	$ 300,000	$ 300,000
Effective Interest Rate	[2]	3.29%	3.30%
Senior Secured Note | 5.900% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 600,000
Borrowing Outstanding	[2]	$ 600,000
Effective Interest Rate	[2]	6.19%
Senior Secured Note | 1.625% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 650,000	$ 650,000
Borrowing Outstanding	[2]	$ 650,000	$ 650,000
Effective Interest Rate	[2]	1.83%	1.68%
Senior Secured Note | 1.500% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 642,300	$ 682,200
Borrowing Outstanding	[2]	$ 642,300	$ 682,200
Effective Interest Rate	[2]	1.61%	1.55%
Senior Secured Note | 2.500% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 500,000	$ 500,000
Borrowing Outstanding	[2]	$ 500,000	$ 500,000
Effective Interest Rate	[2]	2.73%	2.73%
Senior Secured Note | 1.600% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 500,000	$ 500,000
Borrowing Outstanding	[2]	$ 500,000	$ 500,000
Effective Interest Rate	[2]	1.70%	1.70%
Senior Secured Note | 2.000% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 800,000	$ 800,000
Borrowing Outstanding	[2]	$ 800,000	$ 800,000
Effective Interest Rate	[2]	2.18%	2.16%
Senior Secured Note | 2.550% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 500,000
Borrowing Outstanding	[2]	$ 500,000
Effective Interest Rate	[2]	2.66%
Senior Secured Note | 6.200% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 900,000
Borrowing Outstanding	[2]	$ 900,000
Effective Interest Rate	[2]	6.40%
Senior Secured Note | 3.500% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 535,250
Borrowing Outstanding	[2]	$ 535,250
Effective Interest Rate	[2]	3.79%
Senior Secured Note | 6.250% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 250,000	$ 250,000
Borrowing Outstanding	[2]	$ 250,000	$ 250,000
Effective Interest Rate	[2]	6.65%	6.65%
Senior Secured Note | 5.000% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 500,000	$ 500,000
Borrowing Outstanding	[2]	$ 500,000	$ 500,000
Effective Interest Rate	[2]	5.16%	5.16%
Senior Secured Note | 4.450% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 350,000	$ 350,000
Borrowing Outstanding	[2]	$ 350,000	$ 350,000
Effective Interest Rate	[2]	4.56%	4.56%
Senior Secured Note | 4.000% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 300,000	$ 300,000
Borrowing Outstanding	[2]	$ 300,000	$ 300,000
Effective Interest Rate	[2]	4.20%	4.20%
Senior Secured Note | 3.500% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 400,000	$ 400,000
Borrowing Outstanding	[2]	$ 400,000	$ 400,000
Effective Interest Rate	[2]	3.61%	3.61%
Senior Secured Note | 2.800% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 400,000	$ 400,000
Borrowing Outstanding	[2]	$ 400,000	$ 400,000
Effective Interest Rate	[2]	2.88%	2.88%
Senior Secured Note | 2.850% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 550,000	$ 550,000
Borrowing Outstanding	[2]	$ 550,000	$ 550,000
Effective Interest Rate	[2]	2.92%	2.89%
Senior Secured Note | 3.200% Notes
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 1,000,000
Borrowing Outstanding	[2]	$ 1,000,000
Effective Interest Rate	[2]	3.26%
Partnership's Credit Facilities
Line of Credit Facility [Line Items]
Credit Available	[2]	$ 15,176,000	$ 9,605,500
Borrowing Outstanding	[2]	11,041,000	7,855,500
Blackstone Fund Facilities
Line of Credit Facility [Line Items]
Credit Available	[3]	1,450,000	101
Borrowing Outstanding	[3]	$ 1,450,000	$ 101
Effective Interest Rate	[3]	0%	1.61%
[1]As of December 31, 2022, the Issuer has a credit facility with Citibank, N.A., as Administrative Agent in the amount of $4.135 billion with a maturity date of June 3, 2027. Interest on the borrowings is based on an adjusted Secured Overnight Finance Rate (“SOFR”) rate or alternate base rate, in each case plus a margin, and undrawn commitments bear a commitment fee of 0.06%. The margin above adjusted SOFR used to calculate interest on borrowings was 0.75% plus an additional credit spread adjustment of 0.10% to account for the difference between London Interbank Offered Rate (“LIBOR”) and SOFR. The margin is subject to change based on Blackstone’s credit rating. Borrowings may also be made in U.K. sterling, euros, Swiss francs, Japanese yen or Canadian dollars, in each case subject to certain sub-limits. The Credit Facility contains customary representations, covenants and events of default. Financial covenants consist of a maximum net leverage ratio and a requirement to keep a minimum amount of fee-earning assets under management, each tested quarterly. As of December 31, 2022 and 2021, Blackstone had outstanding but undrawn letters of credit against the Credit Facility of $11.2 million and $10.1 million, respectively. The amount Blackstone can draw from the Credit Facility is reduced by the undrawn letters of credit, however the Credit Available presented herein is not reduced by the undrawn letters of credit.[2]The Issuer has issued long-term borrowings in the form of senior notes (the “Notes”). The Notes are unsecured and unsubordinated obligations of the Issuer. The Notes are fully and unconditionally guaranteed, jointly and severally, by Blackstone, Blackstone Holdings (the “Guarantors”), and the Issuer. The guarantees are unsecured and unsubordinated obligations of the Guarantors. Transaction costs related to the issuance of the Notes have been deducted from the Note liability and are being amortized over the life of the Notes. The indentures include covenants, including limitations on the Issuer’s and the Guarantors’ ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or lease assets. The indentures also provide for events of default and further provide that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the Notes and any accrued and unpaid interest on the Notes automatically become due and payable. All or a portion of the Notes may be redeemed at the Issuer’s option in whole or in part, at any time and from time to time, prior to their stated maturity, at the make-whole redemption price set forth in the Notes. If a change of control repurchase event occurs, the holders of the Notes may require the Issuer to repurchase the Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the date of repurchase.[3]Represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Certain borrowings under these facilities were used for bridge financing and general liquidity purposes. Other borrowings were used to finance the purchase of investments with the borrowing remaining in place until the disposition or refinancing event. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Because the timing of such events is unknown and may occur in the near term, these borrowings are considered short-term in nature. 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 asset and therefore, the stated interest rate and effective interest rate may differ. Borrowings were secured according to the terms of each facility and are generally secured by the investment purchased with the proceeds of the borrowing and/or the uncalled capital commitment of each respective fund. Certain facilities have commitment fees. When a fund borrows, the proceeds are available only for use by that fund and are not available for the benefit of other funds. Collateral within each fund is also available only against the borrowings by that fund and not against the borrowings of other funds.

Partnership Credit Facilities_2

Partnership Credit Facilities (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Maximum percentage of aggregate principal amount of the outstanding notes	25%
Percentage of repurchase of note on principal amount of notes	101%
4.750% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Feb. 15, 2023
2.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	May 19, 2025
1.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Oct. 05, 2026
3.150% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Oct. 02, 2027
5.900% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Nov. 03, 2027
1.625% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Aug. 05, 2028
2.500% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Jan. 10, 2030
1.600% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Mar. 30, 2031
2.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Jan. 30, 2032
2.550% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Mar. 30, 2032
6.200% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Apr. 22, 2033
3.500% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Jun. 01, 2034
6.250% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Aug. 15, 2042
5.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Jun. 15, 2044
4.450% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Jul. 15, 2045
4.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Oct. 02, 2047
2.800% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Sep. 30, 2050
2.850% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Aug. 05, 2051
3.200% Notes
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Jan. 30, 2052
Credit Facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 4,135	$ 4,135
Line of credit expiration date	Jun. 03, 2027
Debt Instrument Additional Credit Spread Adjustment	0.10%
Credit Facility | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Commitment fee percentage	0.06%
Debt instrument, basis spread on variable rate	0.75%	0.75%
Senior Secured Note | 4.750% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	4.75%
Debt instrument, maturity date	Feb. 15, 2023
Senior Secured Note | 2.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	2%
Debt instrument, maturity date	May 19, 2025
Senior Secured Note | 1.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	1%
Debt instrument, maturity date	Oct. 05, 2026
Senior Secured Note | 3.150% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	3.15%
Debt instrument, maturity date	Oct. 02, 2027
Senior Secured Note | 5.900% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	5.90%
Debt instrument, maturity date	Nov. 03, 2027
Senior Secured Note | 1.625% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	1.625%
Debt instrument, maturity date	Aug. 05, 2028
Senior Secured Note | 1.500% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	1.50%
Debt instrument, maturity date	Apr. 10, 2029
Senior Secured Note | 2.500% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	2.50%
Debt instrument, maturity date	Jan. 10, 2030
Senior Secured Note | 1.600% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	1.60%
Debt instrument, maturity date	Mar. 30, 2031
Senior Secured Note | 2.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	2%
Debt instrument, maturity date	Jan. 30, 2032
Senior Secured Note | 2.550% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	2.55%
Debt instrument, maturity date	Mar. 30, 2032
Senior Secured Note | 6.200% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	6.20%
Debt instrument, maturity date	Apr. 22, 2033
Senior Secured Note | 3.500% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	3.50%
Debt instrument, maturity date	Jun. 01, 2034
Senior Secured Note | 6.250% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	6.25%
Debt instrument, maturity date	Aug. 15, 2042
Senior Secured Note | 5.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	5%
Debt instrument, maturity date	Jun. 15, 2044
Senior Secured Note | 4.450% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	4.45%
Debt instrument, maturity date	Jul. 15, 2045
Senior Secured Note | 4.000% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	4%
Debt instrument, maturity date	Oct. 02, 2047
Senior Secured Note | 3.500% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	3.50%
Debt instrument, maturity date	Sep. 10, 2049
Senior Secured Note | 2.800% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	2.80%
Debt instrument, maturity date	Sep. 30, 2050
Senior Secured Note | 2.850% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	2.85%
Debt instrument, maturity date	Aug. 05, 2051
Senior Secured Note | 3.200% Notes
Line of Credit Facility [Line Items]
Debt instrument, interest rate	3.20%
Debt instrument, maturity date	Jan. 30, 2052
Letter of Credit
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 11.2	$ 10.1

Carrying Value and Fair Value o

Carrying Value and Fair Value of Blackstone Issued Notes (Detail) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Carrying Value		$ 10,899,584	$ 7,498,062
Debt instrument, fair value	[1]	9,018,356	8,018,122
4.750% Notes
Debt Instrument [Line Items]
Carrying Value		399,838	398,581
Debt instrument, fair value	[1]	399,776	415,880
2.000% Notes
Debt Instrument [Line Items]
Carrying Value		325,292	338,275
Debt instrument, fair value	[1]	305,754	362,078
1.000% Notes
Debt Instrument [Line Items]
Carrying Value		642,968	675,867
Debt instrument, fair value	[1]	568,525	700,892
3.150% Notes
Debt Instrument [Line Items]
Carrying Value		298,101	297,738
Debt instrument, fair value	[1]	271,284	317,610
1.625% Notes
Debt Instrument [Line Items]
Carrying Value		644,456	678,085
Debt instrument, fair value	[1]	530,933	720,062
1.500% Notes
Debt Instrument [Line Items]
Carrying Value		645,819	491,662
Debt instrument, fair value	[1]	532,043	507,350
2.500% Notes
Debt Instrument [Line Items]
Carrying Value		492,604	495,541
Debt instrument, fair value	[1]	405,965	467,750
1.600% Notes
Debt Instrument [Line Items]
Carrying Value		495,990	786,690
Debt instrument, fair value	[1]	365,380	767,920
2.000% Notes
Debt Instrument [Line Items]
Carrying Value		788,082	0
Debt instrument, fair value	[1]	589,407	0
6.250% Notes
Debt Instrument [Line Items]
Carrying Value		239,176	238,914
Debt instrument, fair value	[1]	251,480	361,775
5.000% Notes
Debt Instrument [Line Items]
Carrying Value		489,704	489,446
Debt instrument, fair value	[1]	441,355	648,500
4.450% Notes
Debt Instrument [Line Items]
Carrying Value		344,549	344,412
Debt instrument, fair value	[1]	287,242	426,195
4.000% Notes
Debt Instrument [Line Items]
Carrying Value		290,935	290,730
Debt instrument, fair value	[1]	227,946	347,370
3.500% Notes
Debt Instrument [Line Items]
Carrying Value		504,695
Debt instrument, fair value	[1]	452,934
2.800% Notes
Debt Instrument [Line Items]
Carrying Value		393,958	393,818
Debt instrument, fair value	[1]	237,552	382,880
2.850% Notes
Debt Instrument [Line Items]
Carrying Value		543,162	542,963
Debt instrument, fair value	[1]	323,527	531,355
5.900% Notes
Debt Instrument [Line Items]
Carrying Value		594,381	643,251
Debt instrument, fair value	[1]	606,450	629,265
2.550% Notes
Debt Instrument [Line Items]
Carrying Value		495,207
Debt instrument, fair value	[1]	390,370
6.200% Notes
Debt Instrument [Line Items]
Carrying Value		891,277
Debt instrument, fair value	[1]	907,965
3.200% Notes
Debt Instrument [Line Items]
Carrying Value		987,131
Debt instrument, fair value	[1]	646,880
3.500% Notes
Debt Instrument [Line Items]
Carrying Value		392,259	392,089
Debt instrument, fair value	[1]	$ 275,588	$ 431,240
[1]Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy.

Carrying Value and Fair Value_2

Carrying Value and Fair Value of Blackstone Issued Notes (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2022
4.750% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Feb. 15, 2023
4.750% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.75%
2.000% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	May 19, 2025
2.000% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2%
1.000% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 05, 2026
1.000% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1%
3.150% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 02, 2027
3.150% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.15%
5.900% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Nov. 03, 2027
5.900% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	5.90%
1.625% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Aug. 05, 2028
1.625% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.625%
1.500% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 10, 2029
1.500% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.50%
2.500% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 10, 2030
2.500% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.50%
1.600% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Mar. 30, 2031
1.600% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.60%
2.000% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 30, 2032
2.000% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2%
2.550% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Mar. 30, 2032
2.550% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.55%
6.200% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 22, 2033
6.200% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	6.20%
3.500% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Jun. 01, 2034
3.500% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.50%
6.250% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Aug. 15, 2042
6.250% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	6.25%
5.000% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Jun. 15, 2044
5.000% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	5%
4.450% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Jul. 15, 2045
4.450% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.45%
4.000% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 02, 2047
4.000% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4%
3.500% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Sep. 10, 2049
3.500% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.50%
2.800% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Sep. 30, 2050
2.800% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.80%
2.850% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Aug. 05, 2051
2.850% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.85%
3.200% Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 30, 2052
3.200% Notes | Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.20%

Scheduled Principal Payments fo

Scheduled Principal Payments for Borrowings (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
2023	$ 400,000
2024	0
2025	321,150
2026	642,300
2027	900,000
Thereafter	10,227,550
Total	12,491,000
Operating Borrowings
Debt Instrument [Line Items]
2023	400,000
2024	0
2025	321,150
2026	642,300
2027	900,000
Thereafter	8,777,550
Total	11,041,000
Blackstone Fund Facilities CLO Vehicles
Debt Instrument [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Thereafter	1,450,000
Total	$ 1,450,000

Leases - Additional informaton

Leases - Additional informaton (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term	6 years 9 months 18 days
Weighted-average discount rate	1.50%
Leases	$ 12.3	$ 9.4

Leases Components of leases exp

Leases Components of leases expenses (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Cost
Straight-Line Lease Cost	[1]	$ 139,740	$ 115,875	$ 107,970
Variable Lease Cost	[2]	12,072	10,959	15,426
Sublease Income		(888)	(1,695)	(2,191)
Operating Lease Cost		$ 150,924	$ 125,139	$ 121,205
[1]Straight-line lease cost includes short-term leases, which are immaterial.[2]Variable lease cost approximates variable lease cash payments.

Leases Supplemental Cash Flow I

Leases Supplemental Cash Flow Information Related Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating Cash Flows for Operating Lease Liabilities	$ 107,249	$ 96,007	$ 102,364
Non-Cash Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities	$ 278,010	$ 352,298	$ 153,433

Leases Cash flows Annual Basis

Leases Cash flows Annual Basis For Operating Lease Liabilities (Detail) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
2023		$ 142,159
2024		151,807
2025		163,407
2026		161,642
2027		158,244
Thereafter		296,207
Total Lease Payments	[1]	1,073,466
Less: Imputed Interest		(52,012)
Present Value of Operating Lease Liabilities		$ 1,021,454	$ 908,033
[1]Excludes signed leases that have not yet commenced.

Income Before Provision for Tax

Income Before Provision for Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Income Before Provision (Benefit) for Taxes	$ 3,461,789	$ 13,559,396	$ 2,617,520
Domestic Tax Authority
Income Taxes [Line Items]
Income Before Provision (Benefit) for Taxes	3,023,588	13,275,132	2,311,734
Foreign Tax Authority
Income Taxes [Line Items]
Income Before Provision (Benefit) for Taxes	$ 438,201	$ 284,264	$ 305,786

Provision (Benefit) for Income

Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Federal Income Tax	$ 503,075	$ 507,648	$ 163,227
Foreign Income Tax	75,859	55,376	38,914
State and Local Income Tax	255,421	156,735	66,355
Current Income Tax Expense (Benefit), Total	834,355	719,759	268,496
Federal Income Tax	(312,961)	373,223	86,958
Foreign Income Tax	(3,048)	(2,654)	870
State and Local Income Tax	(45,466)	94,073	(310)
Deferred Income Tax Expense (Benefit), Total	(361,475)	464,642	87,518
Provision for Taxes	$ 472,880	$ 1,184,401	$ 356,014

Summary of Tax Positions (Detai

Summary of Tax Positions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax [Line Items]
Income Before Provision (Benefit) for Taxes	$ 3,461,789	$ 13,559,396	$ 2,617,520
Provision for Taxes	$ 472,880	$ 1,184,401	$ 356,014
Effective Income Tax Rate	13.70%	8.70%	13.60%

Reconciliations of Effective In

Reconciliations of Effective Income Tax Rate to Federal Statutory Tax Rate (Detail)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Effective Tax Rate Reconciliation [Line Items]
Statutory U.S. Federal Income Tax Rate		21%	21%	21%
Income Passed Through to Non-Controlling Interest Holders		(8.10%)	(10.20%)	(10.10%)
State and Local Income Taxes		6%	2.10%	2.40%
Change to a Taxable Corporation		0%	0%	1.40%
Change in Valuation Allowance		0%	(4.10%)	(2.80%)
Basis Adjustment	[1]	(4.60%)	0%	0%
Other		(0.60%)	(0.10%)	1.70%
Effective Income Tax Rate		13.70%	8.70%	13.60%
2022 vs. 2021
Schedule of Effective Tax Rate Reconciliation [Line Items]
Basis Adjustment	[1]		0%
2021 vs. 2020
Schedule of Effective Tax Rate Reconciliation [Line Items]
Income Passed Through to Non-Controlling Interest Holders			(0.10%)
State and Local Income Taxes			(0.30%)
Change to a Taxable Corporation			(1.40%)
Change in Valuation Allowance			(1.30%)
Other			(1.80%)
Effective Income Tax Rate			(4.90%)
2020 vs. 2019
Schedule of Effective Tax Rate Reconciliation [Line Items]
Income Passed Through to Non-Controlling Interest Holders		2.10%
State and Local Income Taxes		3.90%
Change to a Taxable Corporation		0%
Change in Valuation Allowance		4.10%
Basis Adjustment	[1]	(4.60%)
Other		(0.50%)
Effective Income Tax Rate		5%
[1]Represents the impact of the out-of-period adjustment made during the year ended December 31, 2022 to revise the book investment basis used to calculate deferred tax assets and the deferred tax provision.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax [Line Items]
Taxable loss of partnership	$ 0
Unrecognized tax benefits that if recognized would affect the annual effective rate	153,600	$ 47,500
Interest expense accrued	32,600	1,500	$ 1,300
Reduction of Tax Receivable Agreement Liability	22,283	(2,759)	$ (35,383)
Increase (Decrease) in Provision For Income Taxes	158,200
Tax Cuts and Jobs Act
Income Tax [Line Items]
Reduction of Tax Receivable Agreement Liability	$ 22,300	$ (2,800)

Summary of Tax Effects of Tempo

Summary of Tax Effects of Temporary Differences (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets
Investment Basis Differences/Net Unrealized Gains and Losses	$ 2,031,002	$ 1,572,672
Other	31,720	8,965
Total Deferred Tax Assets	2,062,722	1,581,637
Deferred Tax Liabilities
Investment Basis Differences/Net Unrealized Gains and Losses	15,409	15,421
Other	31,498	16,439
Total Deferred Tax Liabilities	46,907	31,860
Net Deferred Tax Assets	$ 2,015,815	$ 1,549,777

Schedule of Major Filing Jurisd

Schedule of Major Filing Jurisdictions and Open Period Subject to Examinations (Detail)	12 Months Ended
	Dec. 31, 2022
Federal | Tax Year 2019 [Member]
Income Tax Examination [Line Items]
Open Tax Year	2019
New York City | Tax Year 2009 [Member]
Income Tax Examination [Line Items]
Open Tax Year	2009
New York State | Tax Year 2016 [Member]
Income Tax Examination [Line Items]
Open Tax Year	2016
United Kingdom | Tax Year 2011 [Member]
Income Tax Examination [Line Items]
Open Tax Year	2011

Unrecognized Tax Benefits Exclu

Unrecognized Tax Benefits Excluding Related Interest and Penalties (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits — January 1	$ 47,501	$ 32,933	$ 24,958
Additions for Tax Positions of Prior Years	106,059	14,557	7,959
Exchange Rate Fluctuations	64	11	16
Unrecognized Tax Benefits — December 31	$ 153,624	$ 47,501	$ 32,933

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Line Items]
Net Income Attributable to Blackstone Inc., Basic and Diluted		$ 1,747,631	$ 5,857,397	$ 1,045,363
Weighted-Average Shares of Common Stock Outstanding, Basic		740,664,038	719,766,879	696,933,548
Weighted-Average Shares of Unvested Deferred Restricted Common Stock		278,361	358,164	324,748
Weighted-Average Shares of Common Stock Outstanding, Diluted		740,942,399	720,125,043	697,258,296
Net Income Per Share of Common Stock, Basic		$ 2.36	$ 8.14	$ 1.5
Net Income Per Share of Common Stock, Diluted		2.36	8.13	1.5
Dividends Declared Per Share of Common Stock	[1]	$ 4.94	$ 3.57	$ 1.91
[1]Dividends declared reflects the calendar date of the declaration for each distribution. The fourth quarter dividends, if any, for any fiscal year will be declared and paid in the subsequent fiscal year.

Summary of Anti-Dilutive Securi

Summary of Anti-Dilutive Securities (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Blackstone Partnership Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-Average Units	486,157,205	504,221,914	466,083,269

Schedule of Shares Eligible For

Schedule of Shares Eligible For Dividends and Distribution (Detail)	Dec. 31, 2022 shares
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	742,653,758
Shares eligible for dividends and distributions	1,206,412,141
Common Stock [Member]
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	710,276,923
Unvested Participating Common Stock [Member]
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	32,376,835
Participating Partnership Units [Member]
Stockholders Equity [Line Items]
Participating Blackstone Holdings Partnership Units	463,758,383

Earnings Per Share and Stockh_3

Earnings Per Share and Stockholder's Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Jul. 01, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 07, 2021	Feb. 26, 2021
Stockholders Equity [Line Items]
Common stock par value		$ 0.00001	$ 0.00001
Preferred shares authorized						10,000,000,000
Preferred shares par value						$ 0.00001
Amount remaining available for repurchases		$ 1,100
Share Reclassification
Stockholders Equity [Line Items]
Preferred shares authorized						9,000,000,000
Common Class A
Stockholders Equity [Line Items]
Common stock par value	$ 0.00001
Conversion of Stock	one issued and outstanding
Common Class B
Stockholders Equity [Line Items]
Common stock par value	$ 0.00001
Conversion of Stock	one issued and outstanding
Common Class C
Stockholders Equity [Line Items]
Common stock par value	$ 0.00001
Conversion of Stock	one issued and outstanding
Common Stock
Stockholders Equity [Line Items]
Common stock repurchased, units		3,900,000	10,300,000	9,000,000
Amount authorized to repurchase under unit repurchase program					$ 2,000
Common stock repurchased, cost		$ 392	$ 1,200	$ 474
Series I Preferred Stock
Stockholders Equity [Line Items]
Preferred shares authorized		999,999,000	999,999,000
Preferred shares par value		$ 0.00001	$ 0.00001
Preferred shares issued		1	1
Preferred shares outstanding		1	1
Series I Preferred Stock | Share Reclassification
Stockholders Equity [Line Items]
Preferred shares authorized						999,999,000
Preferred shares issued		1
Preferred shares outstanding		1
Series II Preferred Stock
Stockholders Equity [Line Items]
Preferred shares authorized		1,000	1,000
Preferred shares par value		$ 0.00001	$ 0.00001
Preferred shares issued		1	1
Preferred shares outstanding		1	1
Series II Preferred Stock | Share Reclassification
Stockholders Equity [Line Items]
Preferred shares authorized						1,000
Preferred shares issued		1
Preferred shares outstanding		1

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Partnership grant units				171,096,250
Compensation expense in relation to equity-based awards	$ 846,349	$ 637,441	$ 438,341
Tax benefits in relation to equity-based awards	135,900	84,300	51,500
Estimated unrecognized compensation expense related to unvested awards	$ 2,100,000
Weighted-average period for recognized compensation expense related to unvested awards, years	3 years 4 months 24 days
Total vested and unvested outstanding units	1,206,514,586
Phantom units vesting period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	30 days
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total outstanding unvested phantom units	59,903
Payment in settlement of phantom units	$ 600	$ 1,100	$ 400
Phantom Share Units (PSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed forfeiture rate	10.40%
Phantom units vesting period	1 year
Phantom Share Units (PSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed forfeiture rate	12.80%
Phantom units vesting period	5 years
Equity Settled Awards Deferred Restricted Common Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed service period, in years	1 year
Assumed forfeiture rate	1%
Per unit discount	$ 1.23
Equity Settled Awards Deferred Restricted Common Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed service period, in years	5 years
Assumed forfeiture rate	12.80%
Per unit discount	$ 21.53
Blackstone Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed forfeiture rate	6.90%
Blackstone Partnership Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed service period, in years	1 year
Blackstone Partnership Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed service period, in years	3 years

Summary of Status of Partnershi

Summary of Status of Partnership's Unvested Equity-Based Awards (Detail)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Blackstone | Blackstone Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance | shares	17,344,328
Granted (Units) | shares	1,172,015
Vested (Units) | shares	(6,124,743)
Forfeited (Units) | shares	(1,361,604)
Ending Balance | shares	11,029,996
Beginning Balance | $ / shares	$ 37.37
Granted (Weighted-Average Grant Date Fair Value) | $ / shares	33.73
Vested (Weighted-Average Grant Date Fair Value) | $ / shares	36.12
Forfeited (Weighted-Average Grant Date Fair Value) | $ / shares	34.73
Ending Balance | $ / shares	$ 38.02
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	26,537,813
Granted (Units) | shares	12,073,302
Vested (Units) | shares	(6,274,790)
Forfeited (Units) | shares	(1,334,762)
Ending Balance | shares	31,001,563
Beginning Balance | $ / shares	$ 58.34
Granted (Weighted-Average Grant Date Fair Value) | $ / shares	124.8
Vested (Weighted-Average Grant Date Fair Value) | $ / shares	61.73
Forfeited (Weighted-Average Grant Date Fair Value) | $ / shares	75.81
Ending Balance | $ / shares	$ 82.94
Blackstone Group Inc. [Member] | Cash Settled Awards Phantom Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance | shares	73,581
Granted (Units) | shares	28,130
Vested (Units) | shares	(6,413)
Forfeited (Units) | shares	(46,412)
Ending Balance | shares	48,886
Beginning Balance | $ / shares	$ 137.65
Granted (Weighted-Average Grant Date Fair Value) | $ / shares	125.93
Vested (Weighted-Average Grant Date Fair Value) | $ / shares	70.73
Forfeited (Weighted-Average Grant Date Fair Value) | $ / shares	130.22
Ending Balance | $ / shares	$ 85.04

Unvested Shares and Units, Afte

Unvested Shares and Units, After Expected Forfeitures (Detail)	12 Months Ended
	Dec. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Blackstone Holdings Partnership Units	10,751,742
Deferred Restricted Shares of Common Stock	27,341,906
Total Equity-Based Awards	38,093,648
Phantom Shares	40,471
Blackstone Holdings Partnership Units (Weighted-Average Service Period in Years)	1 year 3 months 18 days
Deferred Restricted Shares of Common Stock (Weighted-Average Service in Years)	3 years
Total Equity-Based Awards (Weighted-Average Service Period in Years)	2 years 6 months
Phantom Shares (Weighted-Average Service Period in Years)	3 years

Due from Affiliates and Due to

Due from Affiliates and Due to Affiliates (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated Entities and Portfolio Companies	$ 3,344,813	$ 3,519,945
Due from Certain Non-Controlling Interest Holders and Blackstone Employees	741,319	1,099,899
Accrual for Potential Clawback of Previously Distributed Performance Allocations	60,575	37,023
Due from Affiliates, total	4,146,707	4,656,867
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements	1,602,933	1,558,393
Due to Non-Consolidated Entities	157,982	181,341
Due to Certain Non-Controlling Interest Holders and Blackstone Employees	198,875	77,664
Accrual for Potential Repayment of Previously Received Performance Allocations	158,691	88,700
Due to Affiliates, total	$ 2,118,481	$ 1,906,098

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Investments	$ 27,553,251	$ 28,665,043
Cash saving in tax receivable agreements, percentage	85%
Expected future payments under the tax receivable agreements	$ 1,600,000
Expected future payments under the tax receivable agreements in years	15 years
After-tax net present value estimated payments	$ 477,000
After-tax net present value discount rate assumption	15%
After tax net estimated payments made	$ 67,500
Founder, senior managing directors, employees and certain other related parties
Related Party Transaction [Line Items]
Net Income Attributable to Non-Controlling Interests	10,900	471,500	$ 65,200
Founder, senior managing directors, employees and certain other related parties | Consolidated Blackstone Funds
Related Party Transaction [Line Items]
Investments	$ 1,600,000	$ 1,600,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2023
Schedule Of Commitments And Contingencies [Line Items]
General partner capital funding	$ 5,000
Consolidated entities net assets restricted as to payment of cash dividends and advances to partnership	106
Total investments at risk in respect of guarantees extended	$ 18.3
Contingent obligations currently anticipated to expire end	2032
Provision for cash clawback	$ 1,100
Contingent Obligations (Clawback)	6,000
Loss Contingency Accrual, Payments	$ 27.2
Blackstone Real Estate Investment Trust or BREIT [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage Of Incremental Cash Payment In Excess Of Target Return	5%
Security Owned and Pledged as Collateral, Associated Liabilities, Fair Value	$ 48.6
Investments Pledged fair value	$ 1,000
Common stock, value, subscriptions		$ 4,000
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	$ 4,000
Blackstone Holdings
Schedule Of Commitments And Contingencies [Line Items]
Loans held By employees for investment guaranteed	78.9
Contingent Obligations (Clawback)	5,700
Loss Contingency Accrual, Payments	12.5
Current And Former Blackstone Personnel
Schedule Of Commitments And Contingencies [Line Items]
Loss Contingency Accrual, Payments	14.7
Consolidated Blackstone Funds
Schedule Of Commitments And Contingencies [Line Items]
Funds signed investment commitments	210
Consolidated Blackstone Funds | Portfolio Company Acquisition
Schedule Of Commitments And Contingencies [Line Items]
Signed investment commitments for portfolio company acquisitions in process of closing	$ 81.2

Clawback Obligations by Segment

Clawback Obligations by Segment (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Product Liability Contingency [Line Items]
Clawback obligations	[1]	$ 158,691	$ 88,700
Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		98,146	51,677
Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	60,545	37,023
Real Estate Segment
Product Liability Contingency [Line Items]
Clawback obligations	[1]	130,415	54,266
Real Estate Segment | Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		78,644	34,080
Real Estate Segment | Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	51,771	20,186
Private Equity Segment
Product Liability Contingency [Line Items]
Clawback obligations	[1]	27,848	7,354
Private Equity Segment | Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		19,279	5,158
Private Equity Segment | Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	8,569	2,196
Credit & Insurance
Product Liability Contingency [Line Items]
Clawback obligations	[1]	428	27,080
Credit & Insurance | Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		223	12,439
Credit & Insurance | Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	$ 205	$ 14,641
[1]Total is a component of Due to Affiliates. See Note 18. “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) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Segment	Dec. 31, 2021 USD ($) Segment	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of business segments | Segment	4	4
Investment Advice [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 6,303,315	$ 5,170,707	$ 4,092,549
Investment Advice [Member] | Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member] | No Major Customer [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage		10%	10%
Blackstone Real Estate Investment Trust or BREIT [Member] | Investment Advice [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 841,300

Financial Data of Segments (Det

Financial Data of Segments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Fee Related Performance Revenues	$ 1,449,497	$ 2,025,244	$ 378,676
Realized Performance Revenues	5,906,767	5,907,443	2,244,661
Realized Performance Compensation	2,433,262	2,410,105	887,655
Operating Segments
Segment Reporting Information [Line Items]
Base Management Fees	6,045,038	4,819,275	3,972,054
Transaction, Advisory and Other Fees, Net	310,117	391,938	207,875
Management Fee Offsets	(72,209)	(43,971)	(68,764)
Total Management and Advisory Fees, Net	6,282,946	5,167,242	4,111,165
Fee Related Performance Revenues	1,449,497	2,025,244	378,676
Fee Related Compensation	(2,330,775)	(2,348,010)	(1,496,570)
Other Operating Expenses	(989,023)	(793,677)	(623,217)
Fee Related Earnings	4,412,645	4,050,799	2,370,054
Realized Performance Revenues	4,461,338	3,883,112	1,865,993
Realized Performance Compensation	(1,814,097)	(1,557,570)	(714,347)
Realized Principal Investment Income	396,256	587,766	158,933
Total Net Realizations	3,043,497	2,913,308	1,310,579
Total Segment Distributable Earnings	7,456,142	6,964,107	3,680,633
Segment Assets	37,947,760	39,423,093
Operating Segments | Real Estate Segment
Segment Reporting Information [Line Items]
Base Management Fees	2,462,179	1,895,412	1,553,483
Transaction, Advisory and Other Fees, Net	171,424	160,395	98,225
Management Fee Offsets	(10,538)	(3,499)	(13,020)
Total Management and Advisory Fees, Net	2,623,065	2,052,308	1,638,688
Fee Related Performance Revenues	1,075,424	1,695,019	338,161
Fee Related Compensation	(1,039,125)	(1,161,349)	(618,105)
Other Operating Expenses	(315,331)	(234,505)	(183,132)
Fee Related Earnings	2,344,033	2,351,473	1,175,612
Realized Performance Revenues	2,985,713	1,119,612	787,768
Realized Performance Compensation	(1,168,045)	(443,220)	(312,698)
Realized Principal Investment Income	150,790	196,869	24,764
Total Net Realizations	1,968,458	873,261	499,834
Total Segment Distributable Earnings	4,312,491	3,224,734	1,675,446
Segment Assets	14,637,693	14,866,437
Operating Segments | Private Equity Segment
Segment Reporting Information [Line Items]
Base Management Fees	1,786,923	1,521,273	1,232,028
Transaction, Advisory and Other Fees, Net	97,876	174,905	82,440
Management Fee Offsets	(56,062)	(33,247)	(44,628)
Total Management and Advisory Fees, Net	1,828,737	1,662,931	1,269,840
Fee Related Performance Revenues	(648)	212,128	0
Fee Related Compensation	(575,194)	(662,824)	(455,538)
Other Operating Expenses	(304,177)	(264,468)	(195,213)
Fee Related Earnings	948,718	947,767	619,089
Realized Performance Revenues	1,191,028	2,263,099	877,493
Realized Performance Compensation	(544,229)	(943,199)	(366,949)
Realized Principal Investment Income	139,767	263,368	72,089
Total Net Realizations	786,566	1,583,268	582,633
Total Segment Distributable Earnings	1,735,284	2,531,035	1,201,722
Segment Assets	14,142,313	15,242,626
Operating Segments | Hedge Fund Solutions Segment
Segment Reporting Information [Line Items]
Base Management Fees	565,226	636,685	582,830
Transaction, Advisory and Other Fees, Net	6,193	11,770	5,899
Management Fee Offsets	(177)	(572)	(650)
Total Management and Advisory Fees, Net	571,242	647,883	588,079
Fee Related Performance Revenues	0	0	0
Fee Related Compensation	(186,672)	(156,515)	(161,713)
Other Operating Expenses	(105,334)	(94,792)	(79,758)
Fee Related Earnings	279,236	396,576	346,608
Realized Performance Revenues	137,184	290,980	179,789
Realized Performance Compensation	(37,977)	(76,701)	(31,224)
Realized Principal Investment Income	24,706	56,733	54,110
Total Net Realizations	123,913	271,012	202,675
Total Segment Distributable Earnings	403,149	667,588	549,283
Segment Assets	2,821,753	2,791,939
Operating Segments | Credit & Insurance Segment
Segment Reporting Information [Line Items]
Base Management Fees	1,230,710	765,905	603,713
Transaction, Advisory and Other Fees, Net	34,624	44,868	21,311
Management Fee Offsets	(5,432)	(6,653)	(10,466)
Total Management and Advisory Fees, Net	1,259,902	804,120	614,558
Fee Related Performance Revenues	374,721	118,097	40,515
Fee Related Compensation	(529,784)	(367,322)	(261,214)
Other Operating Expenses	(264,181)	(199,912)	(165,114)
Fee Related Earnings	840,658	354,983	228,745
Realized Performance Revenues	147,413	209,421	20,943
Realized Performance Compensation	(63,846)	(94,450)	(3,476)
Realized Principal Investment Income	80,993	70,796	7,970
Total Net Realizations	164,560	185,767	25,437
Total Segment Distributable Earnings	1,005,218	540,750	$ 254,182
Segment Assets	$ 6,346,001	$ 6,522,091

Reconciliation of Total Segment

Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes and Total Assets (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total Revenues		$ 8,517,673	$ 22,577,148	$ 6,101,927
Less: Unrealized Principal Investment (Income) Loss		(1,563,849)	1,456,201	(114,607)
Total Expenses		4,973,025	9,476,617	3,479,566
Total Other Income		(82,859)	458,865	(4,841)
Total Other Income		0	0	0
Total GAAP Income Before Provision (Benefit) for Taxes		3,461,789	13,559,396	2,617,520
Total Assets		42,524,227	41,196,408
Less: Unrealized Principal Investment (Income) Loss		(1,563,849)	1,456,201	(114,607)
Operating Segments
Segment Reporting Information [Line Items]
Total Revenues	[1]	12,590,037	11,663,364	6,514,767
Total Expenses	[2]	5,133,895	4,699,257	2,834,134
Total Segment Distributable Earnings		7,456,142	6,964,107	3,680,633
Total Assets		37,947,760	39,423,093
Consolidation Adjustments and Reconciling Items
Segment Reporting Information [Line Items]
Less: Unrealized Performance Revenues	[3]	3,436,978	(8,675,246)	384,758
Less: Unrealized Principal Investment (Income) Loss	[4]	1,235,529	(679,767)	101,742
Less: Interest and Dividend Revenue	[5]	(285,075)	(163,044)	(130,112)
Less: Other Revenue	[6]	(183,754)	(202,885)	253,693
Impact of Consolidation	[7]	(109,379)	(1,197,854)	(234,148)
Amortization of Intangibles	[8]	0	0	1,548
Transaction-Related Charges	[9]	(24,656)	660	29,837
Less: Unrealized Performance Allocations Compensation	[10]	1,470,588	(3,778,048)	154,516
Less: Equity-Based Compensation	[11]	(782,090)	(559,537)	(333,767)
Less: Interest Expense	[1],[12]	(316,569)	(196,632)	(165,022)
Impact of Consolidation		(61,644)	(25,673)	(26,088)
Amortization of Intangibles		(60,481)	(68,256)	(64,436)
Transaction-Related Charges		(81,789)	(143,378)	(210,892)
Administrative Fee Adjustment	[13]	9,866	10,188	5,265
Less: Unrealized Performance Revenues	[3]	3,436,978	(8,675,246)	384,758
Less: Unrealized Principal Investment (Income) Loss	[4]	1,235,529	(679,767)	101,742
Less: Interest and Dividend Revenue	[5]	(285,075)	(163,044)	(130,112)
Less: Other Revenue	[6]	(183,754)	(202,885)	253,693
Plus: Unrealized Performance Allocations Compensation	[10]	(1,470,588)	3,778,048	(154,516)
Plus: Equity Based Compensation	[11]	782,090	559,537	333,767
Plus: Interest Expense	[1],[12]	316,569	196,632	165,022
Amortization of Intangibles	[8]	60,481	68,256	65,984
Transaction-Related Charges	[9]	57,133	144,038	240,729
Segment Adjustment
Segment Reporting Information [Line Items]
Intersegment Eliminations		2,721	4,352	5,522
Intersegment Eliminations		2,721	4,352	5,522
Impact of Consolidation
Segment Reporting Information [Line Items]
Total Other Income	[7]	82,859	(458,865)	4,841
Total Assets	[7]	(4,576,467)	(1,773,315)
Impact of Consolidation	[7]	$ 35,124	$ (1,631,046)	$ (203,219)
[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 years ended December 31, 2022, 2021 and 2020, Other Revenue on a GAAP basis was $184.6 million, $203.1 million and $(253.1) million and included $182.9 million, $200.6 million and $(257.8) 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 the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation. This amount includes amortization of intangibles associated with Blackstone’s investment in Pátria, which was historically accounted for under the equity method. As a result of Pátria’s IPO in January 2021, equity method has been discontinued and there is no longer amortization of intangibles associated with the investment.[9]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.[10]This adjustment removes Unrealized Performance Allocations Compensation.[11]This adjustment removes Equity-Based Compensation on a segment basis.[12]This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement.[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		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total Segment Fee Related Performance Revenues		$ 1,449,497	$ 2,025,244	$ 378,676
Total Segment Realized Performance Revenues		5,906,767	5,907,443	2,244,661
Total Segment Realized Performance Compensation		(2,433,262)	(2,410,105)	(887,655)
Total Segment Other Operating Expenses		184,557	203,086	(253,142)
Foreign exchange gains (losses)		182,900	200,600	(257,800)
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Management and Advisory Fees, Net		6,282,946	5,167,242	4,111,165
Total Segment Fee Related Performance Revenues		1,449,497	2,025,244	378,676
Total Segment Realized Performance Revenues		4,461,338	3,883,112	1,865,993
Total Segment Realized Principal Investment Income		396,256	587,766	158,933
Total Revenues	[1]	12,590,037	11,663,364	6,514,767
Total Segment Fee Related Compensation		2,330,775	2,348,010	1,496,570
Total Segment Realized Performance Compensation		1,814,097	1,557,570	714,347
Total Segment Other Operating Expenses		989,023	793,677	623,217
Total Expenses	[2]	$ 5,133,895	$ 4,699,257	$ 2,834,134
[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 Statement of Operations (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues	[1]	$ (20,369)	$ (3,465)	$ 18,616
Investment Income — Realized Performance Allocations		5,381,640	5,653,452	2,106,000
Realized Performance Revenues		1,449,497	2,025,244	378,676
Compensation and Benefits Compensation		2,569,780	2,161,973	1,855,619
Incentive Fee Compensation		207,998	98,112	44,425
Realized Performance Allocations Compensation		2,225,264	2,311,993	843,230
Realized Performance Revenues		5,906,767	5,907,443	2,244,661
Segment Adjustment	[2]	4,068	913	8
Total Compensation and Benefits		5,003,042	4,572,078	2,743,274
General, Administrative and Other		1,092,671	917,847	711,782
General, Administrative and Other	[3]	(103,648)	(124,170)	(88,565)
Investment Income — Realized Performance Allocations		5,381,640	5,653,452	2,106,000
Realized Performance Revenues		5,906,767	5,907,443	2,244,661
Realized Performance Compensation		2,433,262	2,410,105	887,655
Investment Income Realized		850,327	1,003,822	391,628
Investment Income Realized	[4]	(454,071)	(416,056)	(232,695)
Segment Adjustment	[5]	(76,080)	(106,961)	(198,590)
Less: Fee Related Performance Compensation	[6]	(609,245)	(844,261)	(165,657)
Total Segment		(2,433,262)	(2,410,105)	(887,655)
Management and Advisory Fees, Net
Segment Reporting Information [Line Items]
Revenues		6,303,315	5,170,707	4,092,549
Incentive Fees
Segment Reporting Information [Line Items]
Revenues		525,127	253,991	138,661
Operating Segments
Segment Reporting Information [Line Items]
Revenues		6,282,946	5,167,242	4,111,165
Realized Performance Revenues		1,449,497	2,025,244	378,676
Realized Performance Revenues		4,461,338	3,883,112	1,865,993
Realized Performance Revenues		(1,449,497)	(2,025,244)	(378,676)
General, Administrative and Other		989,023	793,677	623,217
Realized Performance Revenues		4,461,338	3,883,112	1,865,993
Less: Realized Performance Revenues		(4,461,338)	(3,883,112)	(1,865,993)
Realized Performance Compensation		(1,814,097)	(1,557,570)	(714,347)
Investment Income Realized		396,256	587,766	158,933
Less: Equity-Based Compensation — Operating Compensation		(772,170)	(551,263)	(326,116)
Less: Equity-Based Compensation — Performance Compensation		(9,920)	(8,274)	(7,651)
Total Compensation and Benefits		2,330,775	2,348,010	1,496,570
Less: Equity-Based Compensation — Performance Compensation		(9,920)	(8,274)	(7,651)
Total Segment		1,814,097	1,557,570	714,347
Operating Segments | Management and Advisory Fees, Net
Segment Reporting Information [Line Items]
Revenues		$ 6,282,946	$ 5,167,242	$ 4,111,165
[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 add back of Performance Revenues earned from consolidated Blackstone Funds which have been eliminated in consolidation.[3]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.[4]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.[5]Represents the removal of Transaction-Related Charges that are not recorded in the Total Segment measures.[6]Fee related performance compensation may include equity-based compensation based on fee related performance revenues.