Blackstone (BX) 10-Q 3 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 27, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Trading Symbol	BX
Entity Registrant Name	Blackstone Inc.
Entity Central Index Key	0001393818
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Transition Report	false
Document Quarterly Report	true
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-33551
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8875684
Entity Address, Address Line One	345 Park Avenue
Local Phone Number	583-5000
Entity Address, State or Province	NY
Entity Address, City or Town	New York
City Area Code	212
Entity Address, Postal Zip Code	10154
Entity Common Stock, Shares Outstanding		710,544,667

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and Cash Equivalents	$ 2,971,614	$ 4,252,003
Cash Held by Blackstone Funds and Other	138,181	241,712
Investments	27,339,857	27,553,251
Accounts Receivable	693,786	462,904
Due from Affiliates	$ 4,398,333	$ 4,146,707
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Intangible Assets, Net	$ 210,210	$ 217,287
Goodwill	1,890,202	1,890,202
Other Assets	972,069	800,458
Right-of-Use Assets	864,691	896,981
Deferred Tax Assets	2,184,880	2,062,722
Total Assets	41,663,823	42,524,227
Liabilities and Equity
Loans Payable	12,111,377	12,349,584
Due to Affiliates	$ 2,188,224	$ 2,118,481
Other Liability, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Accrued Compensation and Benefits	$ 5,983,137	$ 6,101,801
Operating Lease Liabilities	981,616	1,021,454
Accounts Payable, Accrued Expenses and Other Liabilities	1,588,748	1,251,840
Total Liabilities	22,853,102	22,843,160
Commitments and Contingencies
Redeemable Non-Controlling Interests in Consolidated Entities	1,349,060	1,715,006
Stockholders' Equity of Blackstone Inc.
Common Stock, $0.00001 par value, 90 billion shares authorized, (718,442,863 shares issued and outstanding as of September 30, 2023; 710,276,923 shares issued and outstanding as of December 31, 2022)	7	7
Additional Paid-in-Capital	6,057,065	5,935,273
Retained Earnings	1,114,009	1,748,106
Accumulated Other Comprehensive Loss	(38,258)	(27,475)
Total Stockholders' Equity of Blackstone Inc.	7,132,823	7,655,911
Non-Controlling Interests in Consolidated Entities	5,174,473	5,056,480
Non-Controlling Interests in Blackstone Holdings	5,154,365	5,253,670
Total Equity	17,461,661	17,966,061
Total Liabilities and Equity	41,663,823	42,524,227
Series I Preferred Stock [Member]
Stockholders' Equity of Blackstone Inc.
Preferred Stock, Value, Issued	0	0
Series II Preferred Stock [Member]
Stockholders' Equity of Blackstone Inc.
Preferred Stock, Value, Issued	$ 0	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets	$ 41,663,823	$ 42,524,227
Liabilities	$ 22,853,102	$ 22,843,160
Common stock par value	$ 0.00001	$ 0.00001
Common shares authorized	90,000,000,000	90,000,000,000
Common shares issued	718,442,863	710,276,923
Common shares outstanding	718,442,863	710,276,923
Series I Preferred Stock
Preferred shares par value	$ 0.00001	$ 0.00001
Preferred shares authorized	999,999,000	999,999,000
Preferred shares issued	1	1
Preferred shares outstanding	1	1
Series II Preferred Stock
Preferred shares par value	$ 0.00001	$ 0.00001
Preferred shares authorized	1,000	1,000
Preferred shares issued	1	1
Preferred shares outstanding	1	1
Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Assets	$ 5,377,560	$ 5,442,788
Liabilities	1,856,343	1,558,203
Due to Affiliates | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Liabilities	94,807	82,345
Accounts Payable, Accrued Expenses and Other Liabilities | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Liabilities	171,887	25,858
Loans Payable [Member] | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Liabilities	1,589,649	1,450,000
Cash Held by Funds and Other | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Assets	138,181	241,712
Investments | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Assets	5,224,104	5,136,542
Accounts Receivable | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Assets	6,732	55,223
Due from Affiliates | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Assets	8,185	7,152
Other Assets | Consolidated Blackstone Funds | Variable Interest Entity, Primary Beneficiary [Member]
Assets	$ 358	$ 2,159

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Performance Allocations
Realized	$ 453,690	$ 725,888	$ 1,602,668	$ 4,946,043
Unrealized	(63,204)	(771,637)	(708,021)	(2,946,255)
Principal Investments
Realized	94,313	193,228	257,206	743,493
Unrealized	69,340	(1,069,697)	(257,988)	(1,496,226)
Total Investment Income (Loss)	554,139	(922,218)	893,865	1,247,055
Interest and Dividend Revenue	109,133	52,420	348,123	168,980
Other	63,769	199,382	17,951	427,839
Total Revenues	2,541,285	1,058,114	6,737,821	6,813,614
Expenses
Compensation	700,268	600,273	2,153,570	1,942,790
Incentive Fee Compensation	65,432	50,355	192,940	136,737
Performance Allocations Compensation
Realized	168,620	313,930	670,610	2,067,447
Unrealized	11,866	(359,590)	(247,228)	(1,273,849)
Total Compensation and Benefits	946,186	604,968	2,769,892	2,873,125
General, Administrative and Other	279,186	270,369	827,614	800,331
Interest Expense	110,599	80,507	323,136	216,896
Fund Expenses	38,934	5,517	118,918	12,144
Total Expenses	1,374,905	961,361	4,039,560	3,902,496
Other Income (Loss)
Change in Tax Receivable Agreement Liability	0	0	1,887	748
Net Gains (Losses) from Fund Investment Activities	(49,078)	1,178	102,486	(52,272)
Total Other Income (Loss)	(49,078)	1,178	104,373	(51,524)
Income Before Provision for Taxes	1,117,302	97,931	2,802,634	2,859,594
Provision for Taxes	196,560	94,231	467,504	614,026
Net Income	920,742	3,700	2,335,130	2,245,568
Net Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities	(92,577)	25,773	(81,589)	56,700
Net Income (Loss) Attributable to Non-Controlling Interests in Consolidated Entities	20,716	(62,093)	185,021	(62,425)
Net Income Attributable to Non-Controlling Interests in Blackstone Holdings	440,609	37,724	992,618	1,061,516
Net Income Attributable to Blackstone Inc.	$ 551,994	$ 2,296	$ 1,239,080	$ 1,189,777
Net Income Per Share of Common Stock
Basic	$ 0.73	$ 0	$ 1.64	$ 1.61
Diluted	$ 0.73	$ 0	$ 1.64	$ 1.61
Weighted-Average Shares of Common Stock Outstanding
Basic	757,958,602	742,345,646	754,211,390	739,963,370
Diluted	758,046,096	742,495,532	754,456,326	740,272,247
Management and Advisory Fees, Net
Revenues
Revenues	$ 1,655,443	$ 1,617,754	$ 5,023,128	$ 4,654,877
Incentive Fees
Revenues
Revenues	$ 158,801	$ 110,776	$ 454,754	$ 314,863

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net Income	$ 920,742	$ 3,700	$ 2,335,130	$ 2,245,568
Other Comprehensive Loss, Currency Translation Adjustment	(67,046)	(156,610)	(20,754)	(226,076)
Comprehensive Income (Loss)	853,696	(152,910)	2,314,376	2,019,492
Comprehensive Loss Attributable to Redeemable Non-Controlling Interests in Consolidated Entities	(129,432)	(76,820)	(84,903)	(78,623)
Comprehensive Income (Loss) Attributable to Non-Controlling Interests in Consolidated Entities	20,716	(62,093)	185,021	(62,425)
Comprehensive Income Attributable to Non-Controlling Interests in Blackstone Holdings	431,471	16,282	985,961	1,025,937
Comprehensive Income (Loss) Attributable to Non-Controlling Interests	322,755	(122,631)	1,086,079	884,889
Comprehensive Income (Loss) Attributable to Blackstone Inc.	$ 530,941	$ (30,279)	$ 1,228,297	$ 1,134,603

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands		Total	Common Stock	[1]	Common Units	Additional Paid-in Capital	[1]	Retained Earnings (Deficit)	[1]	Accumulated Other Comprehensive Income (Loss)	[1]	Parent	[1]	Noncontrolling Interest Consolidated Entities	Noncontrolling Interest Blackstone Holdings
Beginning Balance at Dec. 31, 2021		$ 21,638,018	$ 7			$ 5,794,727		$ 3,647,785		$ (19,626)		$ 9,422,893		$ 5,600,653	$ 6,614,472
Beginning Balance, Units at Dec. 31, 2021	[1]				704,339,774
Net Income (Loss)		2,188,868						1,189,777				1,189,777		(62,425)	1,061,516
Currency Translation Adjustment		(90,753)								(55,174)		(55,174)			(35,579)
Capital Contributions		728,353												720,930	7,423
Capital Distributions		(6,244,077)						(2,968,099)				(2,968,099)		(905,773)	(2,370,205)
Transfer of Non-Controlling Interests in Consolidated Entities		3,763												3,763
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		13,091				13,091						13,091
Equity-Based Compensation		615,693				370,519						370,519			245,174
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(69,791)				(69,791)						(69,791)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				5,203,342
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(391,968)				(391,968)						(391,968)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(3,804,545)
Change in Blackstone Inc.'s Ownership Interest		(28,846)				28,846						28,846			(28,846)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						45,582						45,582			(45,582)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				3,302,039
Ending Balance at Sep. 30, 2022		18,391,197	7			5,791,006		1,869,463		(74,800)		7,585,676		5,357,148	5,448,373
Ending Balance, Units at Sep. 30, 2022	[1]				709,040,610
Beginning Balance at Dec. 31, 2021		68,028
Transfer In Due to Consolidation of Fund Entities		1,146,410
Net Income (Loss)		56,700
Currency Translation Adjustment		(135,323)
Capital Contributions		285,767
Capital Distributions		(64,051)
Transfer of Non-Controlling Interests in Consolidated Entities		(13,343)
Ending Balance at Sep. 30, 2022		1,344,188
Beginning Balance at Jun. 30, 2022		20,058,607	7			5,870,285		2,803,100		(42,225)		8,631,167		5,281,244	6,146,196
Beginning Balance, Units at Jun. 30, 2022	[1]				706,476,877
Net Income (Loss)		(22,073)						2,296				2,296		(62,093)	37,724
Currency Translation Adjustment		(54,017)								(32,575)		(32,575)			(21,442)
Capital Contributions		270,625												268,165	2,460
Capital Distributions		(1,854,305)						(935,933)				(935,933)		(142,675)	(775,697)
Transfer of Non-Controlling Interests in Consolidated Entities		12,507												12,507
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		5,562				5,562						5,562
Equity-Based Compensation		201,351				121,264						121,264			80,087
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(30,418)				(30,418)						(30,418)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				2,938,303
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(196,642)				(196,642)						(196,642)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(1,954,545)
Change in Blackstone Inc.'s Ownership Interest						80						80			(80)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						20,875						20,875			(20,875)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				1,579,975
Ending Balance at Sep. 30, 2022		18,391,197	7			5,791,006		1,869,463		(74,800)		7,585,676		5,357,148	5,448,373
Ending Balance, Units at Sep. 30, 2022	[1]				709,040,610
Beginning Balance at Jun. 30, 2022		1,275,491
Net Income (Loss)		25,773
Currency Translation Adjustment		(102,593)
Capital Contributions		180,300
Capital Distributions		(21,440)
Transfer of Non-Controlling Interests in Consolidated Entities		(13,343)
Ending Balance at Sep. 30, 2022		1,344,188
Beginning Balance at Dec. 31, 2022		17,966,061	7			5,935,273		1,748,106		(27,475)		7,655,911		5,056,480	5,253,670
Beginning Balance, Units at Dec. 31, 2022	[1]				710,276,923
Net Income (Loss)		2,416,719						1,239,080				1,239,080		185,021	992,618
Currency Translation Adjustment		(17,440)								(10,783)		(10,783)			(6,657)
Capital Contributions		470,661												463,377	7,284
Capital Distributions		(3,763,743)						(1,873,177)				(1,873,177)		(527,333)	(1,363,233)
Transfer of Non-Controlling Interests in Consolidated Entities		(3,072)												(3,072)
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		6,857				6,857						6,857
Equity-Based Compensation		760,019				460,615						460,615			299,404
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(63,998)				(63,998)						(63,998)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				7,432,747
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(310,403)				(310,403)						(310,403)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(3,318,175)
Change in Blackstone Inc.'s Ownership Interest		15,867				(15,867)						(15,867)			15,867
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						44,588						44,588			(44,588)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				4,051,368
Ending Balance at Sep. 30, 2023		17,461,661	7			6,057,065		1,114,009		(38,258)		7,132,823		5,174,473	5,154,365
Ending Balance, Units at Sep. 30, 2023	[1]				718,442,863
Beginning Balance at Dec. 31, 2022		1,715,006
Transfer Out Due to Deconsolidation of Fund Entities		(53,713)
Net Income (Loss)		(81,589)
Currency Translation Adjustment		(3,314)
Capital Contributions		140,840
Capital Distributions		(368,170)
Ending Balance at Sep. 30, 2023		1,349,060
Beginning Balance at Jun. 30, 2023		17,464,130	7			6,076,367		1,160,278		(17,205)		7,219,447		5,174,961	5,069,722
Beginning Balance, Units at Jun. 30, 2023	[1]				713,551,859
Net Income (Loss)		1,013,319						551,994				551,994		20,716	440,609
Currency Translation Adjustment		(30,191)								(21,053)		(21,053)			(9,138)
Capital Contributions		158,499												156,074	2,425
Capital Distributions		(1,218,471)						(598,263)				(598,263)		(177,001)	(443,207)
Transfer of Non-Controlling Interests in Consolidated Entities		(277)												(277)
Deferred Tax Effects Resulting from Acquisition of Ownership Interests from Non-Controlling Interest Holders		2,938				2,938						2,938
Equity-Based Compensation		246,883				149,843						149,843			97,040
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock		(40,897)				(40,897)						(40,897)
Net Delivery of Vested Blackstone Holdings Partnership Units and Shares of Common Stock, Units	[1]				4,759,543
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units		(134,272)				(134,272)						(134,272)
Repurchase of Shares of Common Stock and Blackstone Holdings Partnership Units, Units	[1]				(1,318,175)
Change in Blackstone Inc.'s Ownership Interest						(12,858)						(12,858)			12,858
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock						15,944						15,944			(15,944)
Conversion of Blackstone Holdings Partnership Units to Shares of Common Stock, Units	[1]				1,449,636
Ending Balance at Sep. 30, 2023		17,461,661	$ 7			$ 6,057,065		$ 1,114,009		$ (38,258)		$ 7,132,823		$ 5,174,473	$ 5,154,365
Ending Balance, Units at Sep. 30, 2023	[1]				718,442,863
Beginning Balance at Jun. 30, 2023		1,626,349
Net Income (Loss)		(92,577)
Currency Translation Adjustment		(36,855)
Capital Contributions		48,560
Capital Distributions		(196,417)
Ending Balance at Sep. 30, 2023		$ 1,349,060
[1]During the period presented, Blackstone also had one share outstanding of each of Series I and Series II preferred stock, with par value of each less than one cent.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Equity (Parenthetical)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Series I Preferred Stock [Member]
Conversion Of Stocks	one share outstanding	one share outstanding	one share outstanding	one share outstanding
Series II Preferred Stock [Member]
Conversion Of Stocks	one share outstanding	one share outstanding	one share outstanding	one share outstanding

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities
Net Income	$ 2,335,130	$ 2,245,568
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Net Realized Gains on Investments	(2,171,161)	(5,869,897)
Changes in Unrealized Losses on Investments	236,161	1,712,735
Non-Cash Performance Allocations	708,021	2,946,255
Non-Cash Performance Allocations and Incentive Fee Compensation	612,097	914,965
Equity-Based Compensation Expense	797,762	636,454
Amortization of Intangibles	31,073	52,288
Other Non-Cash Amounts Included in Net Income	(691,415)	(923,678)
Cash Flows Due to Changes in Operating Assets and Liabilities
Cash Acquired with Consolidation of Fund Entities	0	31,791
Cash Relinquished with Deconsolidation of Fund Entities	(113,588)	0
Accounts Receivable	(236,453)	(190,786)
Due from Affiliates	101,157	661,934
Other Assets	(44,728)	(142,410)
Accrued Compensation and Benefits	(510,514)	(1,562,779)
Accounts Payable, Accrued Expenses and Other Liabilities	88,010	404,867
Due to Affiliates	(3,955)	93,669
Investments Purchased	(2,437,975)	(3,783,564)
Cash Proceeds from Sale of Investments	4,461,596	8,393,706
Net Cash Provided by Operating Activities	3,161,218	5,621,118
Investing Activities
Purchase of Furniture, Equipment and Leasehold Improvements	(192,904)	(186,783)
Net Cash Paid for Acquisitions, Net of Cash Acquired	(5,420)	0
Net Cash Used in Investing Activities	(198,324)	(186,783)
Financing Activities
Distributions to Non-Controlling Interest Holders in Consolidated Entities	(795,554)	(969,606)
Contributions from Non-Controlling Interest Holders in Consolidated Entities	591,547	989,963
Payments Under Tax Receivable Agreement	(64,634)	(46,880)
Net Settlement of Vested Common Stock and Repurchase of Common Stock and Blackstone Holdings Partnership Units	(374,401)	(461,759)
Proceeds from Loans Payable	0	2,036,264
Repayment and Repurchase of Loans Payable	(469,460)	(250,101)
Dividends/Distributions to Stockholders and Unitholders	(3,229,127)	(5,330,882)
Net Cash Used in Financing Activities	(4,341,629)	(4,033,001)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other	(5,185)	(26,705)
Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other
Net Increase (Decrease)	(1,383,920)	1,374,629
Beginning of Period	4,493,715	2,199,732
End of Period	3,109,795	3,574,361
Supplemental Disclosure of Cash Flows Information
Payments for Interest	292,525	221,155
Payments for Income Taxes	460,531	604,137
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Non-Cash Contributions from Non-Controlling Interest Holders	18,566	14,410
Non-Cash Distributions to Non-Controlling Interest Holders	(107,232)	0
Notes Issuance Costs	0	18,423
Transfer of Interests to Non-Controlling Interest Holders	(3,072)	3,764
Change in Blackstone Inc.'s Ownership Interest	(15,867)	28,846
Net Settlement of Vested Common Stock	617,197	364,976
Conversion of Blackstone Holdings Units to Common Stock	44,588	45,582
Acquisition of Ownership Interests from Non-Controlling Interest Holders
Deferred Tax Asset	(98,627)	(102,947)
Due to Affiliates	91,770	89,856
Equity	$ 6,857	$ 13,091

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents	$ 2,971,614	$ 4,252,003
Cash Held by Blackstone Funds and Other	138,181	241,712
Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other	$ 3,109,795	$ 4,493,715	$ 3,574,361	$ 2,199,732

Organization

Organization	9 Months Ended
	Sep. 30, 2023
Organization	1.  Organization Blackstone Inc., together with its consolidated subsidiaries (“Blackstone” or the “Company”), is one of the world’s leading investment firms. Blackstone’s asset management business includes investment vehicles focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets and secondary funds, all on a global basis. “Blackstone Funds” refers to the funds and other vehicles that are managed by Blackstone. Blackstone’s business is organized into four segments: Real Estate, Private Equity, Credit & Insurance and Hedge Fund Solutions. Blackstone Inc. was initially formed as The Blackstone Group L.P., a Delaware limited partnership, on March 12, 2007. Prior to its conversion (effective July 1, 2019) to a Delaware corporation, Blackstone Inc. was managed and operated by Blackstone Group Management L.L.C., which is wholly owned by Blackstone’s senior managing directors and controlled by one of Blackstone’s founders, Stephen A. Schwarzman (the “Founder”). The activities of Blackstone are conducted through its holding partnerships: Blackstone Holdings I L.P., Blackstone Holdings AI L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. (collectively, “Blackstone Holdings,” “Blackstone Holdings Partnerships” or the “Holding Partnerships”). Blackstone, through its wholly owned subsidiaries, is the sole general partner of each of the Holding Partnerships. Generally, holders of the limited partner interests in the Holding Partnerships may, four times each year, exchange their limited partnership interests (“Partnership Units”) for Blackstone common stock, on a one-to-one

Summary of Significant Accounti

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

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2023
Intangible Assets	3. Intangible Assets Intangible Assets, Net consists of the following: September 30, December 31, 2023 2022 Finite-Lived Intangible Assets/Contractual Rights $ 1,769,372 $ 1,745,376 Accumulated Amortization (1,559,162 ) (1,528,089 ) Intangible Assets, Net $ 210,210 $ 217,287 Amortization expense associated with Blackstone’s intangible assets was $9.0 million and $31.1 million for the three and nine month periods ended September 30, 2023, respectively, and $14.9 million and $52.3 million for the three and nine month periods ended September 30, 2022, respectively. Amortization of Intangible Assets held at September 30, 2023 is expected to be $40.1 million, $35.9 million, $35.9 million, $35.7 million, and $34.6 million for each of the years ending December 31, 2023, 2024, 2025, 2026, and 2027, respectively. Blackstone’s Intangible Assets as of September 30, 2023 are expected to amortize over a weighted-average period of 6.4 years.

Investments

Investments	9 Months Ended
	Sep. 30, 2023
Investments	4. Investments Investments consist of the following: September 30, December 31, 2023 2022 Investments of Consolidated Blackstone Funds $ 5,224,104 $ 5,136,966 Equity Method Investments Partnership Investments 5,588,222 5,530,419 Accrued Performance Allocations 11,606,901 12,360,684 Corporate Treasury Investments 763,515 1,053,540 Other Investments 4,157,115 3,471,642 $  27,339,857 $  27,553,251 Blackstone’s share of Investments of Consolidated Blackstone Funds totaled $266.3 million and $393.9 million at September 30, 2023 and December 31, 2022, respectively. Where appropriate, the accounting for Blackstone’s investments incorporates the changes in fair value of those investments as determined under GAAP. The significant inputs and assumptions required to determine the change in fair value of the investments of Consolidated Blackstone Funds, Corporate Treasury Investments and Other Investments are discussed in more detail in Note 8. “Fair Value Measurements of Financial Instruments.” Investments of Consolidated Blackstone Funds The following table presents the Realized and Net Change in Unrealized Gains (Losses) on investments held by the consolidated Blackstone Funds and a reconciliation to Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities in the Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Gains (Losses) $ (2,624 ) $ 17,083 $ 18,184 $ 128,952 Net Change in Unrealized Gains (Losses) (19,145 ) (30,603 ) 21,805 (216,198 ) Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds (21,769 ) (13,520 ) 39,989 (87,246 ) Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds (27,309 ) 14,698 62,497 34,974 Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities $ (49,078 ) $ 1,178 $ 102,486 $ (52,272 ) Equity Method Investments Blackstone’s equity method investments include Partnership Investments, which represent the pro-rata Partnership Investments Blackstone recognized net gains (losses) related to its Partnership Investments accounted for under the equity method of $48.1 million and $19.8 million for the three months ended September 30, 2023 and 2022, respectively. Blackstone recognized net gains (losses) related to its equity method investments of $208.6 million and $217.4 million for the nine months ended September 30, 2023 and 2022, respectively. Accrued Performance Allocations Accrued Performance Allocations to Blackstone were as follows: Real Private Credit & Hedge Fund Estate Equity Insurance Solutions Total Accrued Performance Allocations, December 31, 2022 $ 5,334,117 $ 6,037,575 $ 569,898 $ 419,094 $ 12,360,684 Performance Allocations as a Result of Changes in Fund Fair Values (771,235 ) 1,441,800 169,754 85,859 926,178 Foreign Exchange Loss (512 ) — — — (512 ) Fund Distributions (686,861 ) (701,561 ) (204,937 ) (86,090 ) (1,679,449 ) Accrued Performance Allocations, September 30, 2023 $ 3,875,509 $ 6,777,814 $ 534,715 $ 418,863 $ 11,606,901 Corporate Treasury Investments The portion of corporate treasury investments included in Investments represents Blackstone’s investments into primarily fixed income securities, mutual fund interests, and other fund interests. These strategies are managed by a combination of Blackstone personnel and third party advisors. The following table presents the Realized and Net Change in Unrealized Gains (Losses) on these investments: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Losses $ (2,283 ) $ (2,857 ) $ (2,206 ) $ (23,474 ) Net Change in Unrealized Gains (Losses) (7,425 ) (16,196 ) 1,161 (63,779 ) $ (9,708 ) $ (19,053 ) $ (1,045 ) $ (87,253 ) Other Investments Other Investments consist of equity method investments where Blackstone has elected the fair value option and other proprietary investment securities held by Blackstone, including equity securities carried at fair value, equity investments without readily determinable fair values, and senior secured and subordinated notes in non-consolidated lock-up Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Gains (Losses) $ 2,305 $ 83,269 $ (13,880 ) $ 200,610 Net Change in Unrealized Gains (Losses) 149,851 (970,654 ) (5,334 ) (1,121,924 ) $ 152,156 $ (887,385 ) $ (19,214 ) $ (921,314 )

Net Asset Value as Fair Value

Net Asset Value as Fair Value	9 Months Ended
	Sep. 30, 2023
Net Asset Value as Fair Value	5. Net Asset Value as Fair Value A summary of fair value by strategy type and ability to redeem such investments as of September 30, 2023 is presented below: Redemption Frequency Redemption Strategy (a) Fair Value  (if currently eligible)  Notice Period Equity $ 447,923 (b) (b) Real Estate 115,850 (c) (c) Credit Driven 5,758 (d) (d) Commodities 1,038 (e) (e) Diversified Instruments 16 (f) (f) $    570,585 (a) As of September 30, 2023, Blackstone had no unfunded commitments. (b) The Equity category includes investments in hedge funds that invest primarily in domestic and international equity securities. Investments representing 39% 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 61% of the fair value of the investments in this category are redeemable as of the reporting date. (c) The Real Estate category includes investments in funds that primarily invest in real estate assets. All investments in this category are redeemable as of the reporting date. (d) The Credit Driven category includes investments in hedge funds that invest primarily in domestic and international bonds. All investments in this category may not be redeemed at, or within three months of, the reporting date. (e) The Commodities category includes investments in commodities-focused funds that primarily invest in futures and physical-based commodity driven strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date. (f) Diversified Instruments include investments in funds that invest across multiple strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2023
Derivative Financial Instruments	6.  Derivative Financial Instruments Blackstone and the consolidated Blackstone Funds enter into derivative contracts in the normal course of business to achieve certain risk management objectives and for general investment and business purposes. Blackstone may enter into derivative contracts in order to hedge its interest rate risk exposure against the effects of interest rate changes. Additionally, Blackstone may also enter into derivative contracts in order to hedge its foreign currency risk exposure against the effects of a portion of its non-U.S. Freestanding Derivatives Freestanding derivatives are instruments that Blackstone and certain of the consolidated Blackstone Funds have entered into as part of their overall risk management and investment strategies. These derivative contracts are not designated as hedging instruments for accounting purposes. Such contracts may include interest rate swaps, foreign exchange contracts, equity swaps, options, futures and other derivative contracts. The table below summarizes the aggregate notional amount and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts. September 30, 2023 December 31, 2022 Assets Liabilities Assets Liabilities Fair Fair Fair Fair Notional Value Notional Value Notional Value Notional Value Freestanding Derivatives Blackstone Interest Rate Contracts  $ 768,990  $ 213,737  $ 604,200  $ 119,274  $ 789,540  $ 188,043  $ 621,700  $ 83,331 Foreign Currency Contracts 140,256 3,328 427,596 10,042 541,238 8,040 190,774 3,542 Credit Default Swaps 3,108 589 3,748 616 2,007 384 8,768 1,309 Total Return Swaps 31,916 4,349 — — 42,233 6,210 — — Equity Options — — 1,155,320 260,167 — — 996,592 48,581 944,270 222,003 2,190,864 390,099 1,375,018 202,677 1,817,834 136,763 Investments of Consolidated Blackstone Funds Interest Rate Contracts 819,679 73,120 — — 931,752 74,926 — — Foreign Currency Contracts — — — — — — 5,133 284 819,679 73,120 — — 931,752 74,926 5,133 284  $  1,763,949  $  295,123  $  2,190,864  $  390,099  $  2,306,770  $  277,603  $  1,822,967  $  137,047 The table below summarizes the impact to the Condensed Consolidated Statements of Operations from derivative financial instruments: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Freestanding Derivatives Realized Gains (Losses) Interest Rate Contracts $ 2,213 $ 7,740 $ 2,360 $ 13,018 Foreign Currency Contracts (3,072 ) (2,206 ) 6,951 (6,981 ) Credit Default Swaps — (115 ) (413 ) 13 Total Return Swaps 3,436 — 14,461 — 2,577 5,419 23,359 6,050 Net Change in Unrealized Gains (Losses) Interest Rate Contracts (3,148 ) 113,623 (371 ) 221,300 Foreign Currency Contracts (3,375 ) (22,626 ) (11,213 ) (25,232 ) Credit Default Swaps 2 131 366 (289 ) Total Return Swaps 884 526 (1,293 ) 526 Equity Options (38,710 ) — (211,586 ) — (44,347 ) 91,654 (224,097 ) 196,305 $  (41,770 ) $   97,073 $  (200,738 ) $   202,355 As of September 30, 2023 and December 31, 2022, Blackstone had not designated any derivatives as fair value, cash flow or net investment hedges.

Fair Value Option

Fair Value Option	9 Months Ended
	Sep. 30, 2023
Fair Value Option	7.  Fair Value Option The following table summarizes the financial instruments for which the fair value option has been elected: September 30, December 31, 2023 2022 Assets Loans and Receivables $ 79,339 $ 315,039 Equity and Preferred Securities 2,530,474 1,868,192 Debt Securities 63,776 24,784 Assets of Consolidated CLO Vehicles Corporate Loans 189,111 — $   2,862,700 $   2,208,015 Liabilities CLO Notes Payable $ 225,396 $ — Corporate Treasury Commitments 1,558 8,144 $ 226,954 $ 8,144 The following tables present the Realized and Net Change in Unrealized Gains (Losses) on financial instruments on which the fair value option was elected: Three Months Ended September 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (520 ) $ 406 $ (3,246 ) $ 1,050 Equity and Preferred Securities 406 11,538 3,719 (45,301 ) Debt Securities — (904 ) (5,056 ) (4,418 ) Assets of Consolidated CLO Vehicles Corporate Loans 47 703 — — $ (67 ) $ 11,743 $ (4,583 ) $ (48,669 ) Liabilities CLO Notes Payable $ — $ (907 ) $ — $ — Corporate Treasury Commitments — 2,213 — (1,175 ) $ — $ 1,306 $ — $ (1,175 ) Nine Months Ended September 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (6,515 ) $ 4,330 $ (6,663 ) $ (4,309 ) Equity and Preferred Securities (776 ) (6,763 ) 16,020 (58,239 ) Debt Securities — (3,611 ) (9,423 ) (32,627 ) Assets of Consolidated CLO Vehicles Corporate Loans (6,152 ) 5,335 — — $ (13,443 ) $ (709 ) $ (66 ) $ (95,175 ) Liabilities CLO Notes Payable $ — $ 16 $ — $ — Corporate Treasury Commitments — 6,586 — (9,236 ) $ — $ 6,602 $ — $ (9,236 ) The following table presents information for those financial instruments for which the fair value option was elected: September 30, 2023 December 31, 2022 For Financial Assets For Financial Assets Past Due (a) Past Due (a) (Deficiency) Excess (Deficiency) Excess of Fair Value Fair of Fair Value of Fair Value Fair of Fair Value Over Principal   Value   Over Principal Over Principal   Value   Over Principal Loans and Receivables $ (466 ) $ — $ — $ (2,861 ) $ — $ — Debt Securities (54,292 ) — — (48,670 ) — — Assets of Consolidated CLO Vehicles Corporate Loans (7,303 ) 1,338 — — — — $ (62,061 ) $ 1,338 $ — $ (51,531 ) $ — $ — (a) Assets are classified as past due if contractual payments are more than 90 days past due. As of September 30, 2023 and December 31, 2022, no Loans and Receivable s for non-accrual non-accrual non-accrual

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Measurements of Financial Instruments	8.  Fair Value Measurements of Financial Instruments The following tables summarize the valuation of Blackstone’s financial assets and liabilities by the fair value hierarchy: September 30, 2023 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents  $ 127,047  $ —  $ —  $ —  $ 127,047 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 7,855 130,881 4,237,717 563,773 4,940,226 Debt Instruments — 199,567 11,191 — 210,758 Freestanding Derivatives — 73,120 — — 73,120 Total Investments of Consolidated Blackstone Funds 7,855 403,568 4,248,908 563,773 5,224,104 Corporate Treasury Investments 76,838 678,552 8,125 — 763,515 Other Investments 1,458,415 2,247,894 70,191 6,812 3,783,312 Total Investments 1,543,108 3,330,014 4,327,224 570,585 9,770,931 Accounts Receivable - Loans and Receivables — — 79,339 — 79,339 Other Assets - Freestanding Derivatives 754 216,900 4,349 — 222,003  $ 1,670,909  $ 3,546,914  $ 4,410,912  $ 570,585  $ 10,199,320 Liabilities Loans Payable - CLO Notes Payable  $ —  $ 225,396  $ —  $ —  $ 225,396 Accounts Payable, Accrued Expenses and Other Liabilities Freestanding Derivatives (b) 49 129,883 260,167 — 390,099 Contingent Consideration (c) — — 800 — 800 Corporate Treasury Commitments (d) — — 1,558 — 1,558 Securities Sold, Not Yet Purchased 3,789 — — — 3,789 Total Accounts Payable, Accrued Expenses and Other Liabilities 3,838 129,883 262,525 — 396,246  $ 3,838  $ 355,279  $ 262,525  $ —  $ 621,642 December 31, 2022 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents  $ 1,134,733  $ —  $ —  $ —  $ 1,134,733 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 12,024 149,689 4,195,859 596,708 4,954,280 Debt Instruments — 53,787 53,973 — 107,760 Freestanding Derivatives — 74,926 — — 74,926 Total Investments of Consolidated Blackstone Funds 12,024 278,402 4,249,832 596,708 5,136,966 Corporate Treasury Investments 116,266 931,406 5,868 — 1,053,540 Other Investments 1,473,611 1,597,696 51,155 5,985 3,128,447 Total Investments 1,601,901 2,807,504 4,306,855 602,693 9,318,953 Accounts Receivable - Loans and Receivables — — 315,039 — 315,039 Other Assets - Freestanding Derivatives 279 196,188 6,210 — 202,677  $ 2,736,913  $ 3,003,692  $ 4,628,104  $ 602,693  $ 10,971,402 Liabilities Accounts Payable, Accrued Expenses and Other Liabilities Consolidated Blackstone Funds - Freestanding Derivatives  $ —  $ 284  $ —  $ —  $ 284 Freestanding Derivatives (b) 21 88,161 48,581 — 136,763 Corporate Treasury Commitments (d) — — 8,144 — 8,144 Securities Sold, Not Yet Purchased 3,825 — — — 3,825 Total Accounts Payable, Accrued Expenses and Other Liabilities 3,846 88,445 56,725 — 149,016  $ 3,846  $ 88,445  $ 56,725  $ —  $ 149,016 LLC Limited Liability Company. (a) Equity Securities, Partnership and LLC Interest includes investments in investment funds. (b) Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility. (c) Level III contingent consideration liabilities are valued using a discounted cash flow model where the significant inputs include the discount rates. (d) Corporate Treasury Commitments are measured using third party pricing. The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of September 30, 2023. Consistent with presentation in these Notes to Condensed Consolidated Financial Statements, this table presents the Level III Investments only of Consolidated Blackstone Funds and therefore does not reflect any other Blackstone Funds. Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted- Impact to Financial Assets Investments of Consolidated Blackstone Funds Equity Securities, Partnership and LLC Interests $ 4,237,717 Discounted Cash Flows Discount Rate 2.5% - 36.0% 7.9% Lower Exit Multiple - EBITDA 4.0x - 30.6x 14.9x Higher Exit Capitalization Rate 1.6% - 13.0% 5.0% Lower Transaction Price n/a Debt Instruments 11,191 Other n/a Total Investments of Consolidated Blackstone Funds 4,248,908 Corporate Treasury Investments 8,125 Third Party Pricing n/a Loans and Receivables 79,339 Discounted Cash Flows Discount Rate 10.1% - 12.4% 10.7% Lower Other Investments (b) 74,540 Third Party Pricing n/a $ 4,410,912 The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of December 31, 2022: Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted- Impact to Financial Assets Investments of Consolidated 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 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 September 30, 2023 and December 31, 2022, Other Investments includes Level III Freestanding Derivatives. For the nine months ended September 30, 2023, there have been no changes in valuation techniques within Level II and Level III that have had a material impact on the valuation of financial instruments. The following tables summarize the changes in financial assets and liabilities measured at fair value for which Blackstone has used Level III inputs to determine fair value and does not include gains or losses that were reported in Level III in prior years or for instruments that were transferred out of Level III prior to the end of the respective reporting period. These tables also exclude financial assets and liabilities measured at fair value on a non-recurring Level III Financial Assets at Fair Value Three Months Ended September 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period  $ 4,439,851  $ 76,861  $ 73,612  $ 4,590,324  $ 2,791,812  $ 534,105  $ 38,603  $ 3,364,520 Transfer Into Level III (b) 12,858 — — 12,858 2,466 — 1,610 4,076 Transfer Out of Level III (b) (11,544 ) — (649 ) (12,193 ) (6,293 ) — (4,043 ) (10,336 ) Purchases 43,208 28,823 4,913 76,944 195,133 229,502 1,124 425,759 Sales (51,735 ) (23,312 ) (1,573 ) (76,620 ) (2,280 ) (217,173 ) (51 ) (219,504 ) Issuances — — — — — 6,437 — 6,437 Settlements (c) — (4,117 ) (3,389 ) (7,506 ) — (12,688 ) 566 (12,122 ) Changes in Gains (Losses) Included in Earnings (183,730 ) 1,084 3,332 (179,314 ) (158,059 ) 3,214 1,577 (153,268 ) Balance, End of Period  $ 4,248,908  $ 79,339  $ 76,246  $ 4,404,493  $ 2,822,779  $ 543,397  $ 39,386  $ 3,405,562 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date  $ (88,307 )  $ (52 )  $ (1,891 )  $ (90,250 )  $ (53,588 )  $ (3,010 )  $ 1,591  $ (55,007 ) Level III Financial Assets at Fair Value Nine Months Ended September 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period  $ 4,249,832  $ 315,039  $ 30,971  $ 4,595,842  $ 1,200,315  $ 392,732  $ 43,987  $ 1,637,034 Transfer In Due to Consolidation and Acquisition — — — — 1,535,171 — — 1,535,171 Transfer Out Due to Deconsolidation (3,837 ) — — (3,837 ) — — — — Transfer Into Level III (b) 26,856 — 898 27,754 2,518 — 2,517 5,035 Transfer Out of Level III (b) (16,608 ) — (3,374 ) (19,982 ) (111,824 ) — (4,043 ) (115,867 ) Purchases 214,076 200,791 56,589 471,456 522,941 674,286 8,622 1,205,849 Sales (173,442 ) (459,825 ) (3,258 ) (636,525 ) (169,710 ) (522,198 ) (2,864 ) (694,772 ) Issuances — 57,008 — 57,008 — 30,336 — 30,336 Settlements (c) — (57,205 ) (8,086 ) (65,291 ) — (34,706 ) 566 (34,140 ) Changes in Gains (Losses) Included in Earnings (47,969 ) 23,531 2,506 (21,932 ) (156,632 ) 2,947 (9,399 ) (163,084 ) Balance, End of Period  $ 4,248,908  $ 79,339  $ 76,246  $ 4,404,493  $ 2,822,779  $ 543,397  $ 39,386  $ 3,405,562 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date  $ (48,875 )  $ 2,391  $ 2,869  $ (43,615 )  $ (41,596 )  $ (10,940 )  $ (9,476 )  $ (62,012 ) (a) Represents freestanding derivatives, corporate treasury investments and Other Investments. (b) Transfers in and out of Level III financial assets and liabilities were due to changes in the observability of inputs used in the valuation of such assets and liabilities. (c) For Freestanding Derivatives included within Other Investments, Settlements includes all ongoing contractual cash payments made or received over the life of the instrument.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2023
Variable Interest Entities	9. Variable Interest Entities Pursuant to GAAP consolidation guidance, Blackstone consolidates certain VIEs for which it is the primary beneficiary either directly or indirectly, through a consolidated entity or affiliate. VIEs include certain private equity, real estate, credit-focused or funds of hedge funds entities and CLO vehicles. The purpose of such VIEs is to provide strategy specific investment opportunities for investors in exchange for management and performance-based fees. The investment strategies of the Blackstone Funds differ by product; however, the fundamental risks of the Blackstone Funds are similar, including loss of invested capital and loss of management fees and performance-based fees. In Blackstone’s role as general partner, collateral manager or investment adviser, it generally considers itself the sponsor of the applicable Blackstone Fund. Blackstone does not provide performance guarantees and has no other financial obligation to provide funding to consolidated VIEs other than its own capital commitments. The assets of consolidated variable interest entities may only be used to settle obligations of these entities. In addition, there is no recourse to Blackstone for the consolidated VIEs’ liabilities. Blackstone holds variable interests in certain VIEs which are not consolidated as it is determined that Blackstone is not the primary beneficiary. Blackstone’s involvement with such entities is in the form of direct and indirect equity interests and fee arrangements. The maximum exposure to loss represents the loss of assets recognized by Blackstone relating to non-consolidated non-consolidated September 30, December 31, 2023 2022 Investments  $ 3,286,386  $ 3,326,669 Due from Affiliates 184,778 189,240 Potential Clawback Obligation 72,058 384,926 Maximum Exposure to Loss  $  3,543,222  $  3,900,835 Amounts Due to Non-Consolidated  $ 24  $ 6

Repurchase Agreements

Repurchase Agreements	9 Months Ended
	Sep. 30, 2023
Repurchase Agreements	10. Repurchase Agreements At September 30, 2023, Blackstone had no Repurchase Agreements and hence no pledge d The following table provides information regarding Blackstone’s Repurchase Agreements December 31, 2022 Remaining Contractual Maturity of the Agreements Overnight Greater and Up to 30 - 90 than Continuous 30 Days Days 90 days Total Repurchase Agreements Loans  $ —  $ 70,776  $ —  $ 19,168  $ 89,944 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 11. “Offsetting of Assets and Liabilities”  $ 89,944 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. “Offsetting of Assets and Liabilities”  $ —

Offsetting of Assets And Liabil

Offsetting of Assets And Liabilities	9 Months Ended
	Sep. 30, 2023
Offsetting of Assets and Liabilities	11. Offsetting of Assets and Liabilities The following tables present the offsetting of assets and liabilities as of September 30, 2023 and December 31, 2022: September 30, 2023 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives  $ 295,123  $ 194,042  $ 86,991  $ 14,090 September 30, 2023 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 129,931 $ 120,633 $ 616 $ 8,682 Repurchase Agreements — — — — $ 129,931 $ 120,633 $ 616 $ 8,682 December 31, 2022 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives $ 277,603 $ 165,897 $ 96,436 $ 15,270 December 31, 2022 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 88,182 $ 85,366 $ 1,345 $ 1,471 Repurchase Agreements 89,944 89,944 — — $ 178,126 $ 175,310 $ 1,345 $ 1,471 (a) Amounts presented are inclusive of both legally enforceable master netting agreements, and financial instruments received or pledged as collateral. Financial instruments received or pledged as collateral offset derivative counterparty risk exposure, but do not reduce net balance sheet exposure. Repurchase Agreements and Freestanding Derivative liabilities are included in Accounts Payable, Accrued Expenses and Other Liabilities in the Condensed Consolidated Statements of Financial Condition. Freestanding Derivative assets are included in Other Assets in the Condensed Consolidated Statements of Financial Condition. The following table presents the components of Other Assets: September 30, December 31, 2023 2022 Furniture, Equipment and Leasehold Improvements  $ 908,676  $ 748,334 Less: Accumulated Depreciation (372,231 ) (336,621 ) Furniture, Equipment and Leasehold Improvements, Net 536,445 411,713 Prepaid Expenses 190,392 165,079 Freestanding Derivatives 222,003 202,677 Other 23,229 20,989  $   972,069  $   800,458 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 September 30, 2023, the aggregate cash balance on deposit relating to the cash pooling arrangements was $995.4 million, which was offset and reported net of the accompanying overdraft of $995.3 million.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2023
Borrowings	12. Borrowings The following table presents each of Blackstone’s borrowings as of September 30, 2023 and December 31, 2022, as well as their carrying value and fair value. The borrowings are included in Loans Pa ya September 30, 2023 December 31, 2022 Carrying Fair Carrying Fair Description Value Value Value Value Blackstone Operating Borrowings Senior Notes (a) 4.750%, Due 2/15/2023  $ —  $ —  $ 399,838  $ 399,776 2.000%, Due 5/19/2025 321,745 305,197 325,292 305,754 1.000%, Due 10/5/2026 635,870 578,320 642,968 568,525 3.150%, Due 10/2/2027 298,381 272,340 298,101 271,284 5.900%, Due 11/3/2027 595,147 600,144 594,381 606,450 1.625%, Due 8/5/2028 645,167 536,621 644,456 530,933 1.500%, Due 4/10/2029 638,389 543,816 645,819 532,043 2.500%, Due 1/10/2030 493,328 407,660 492,604 405,965 1.600%, Due 3/30/2031 496,332 363,495 495,990 365,380 2.000%, Due 1/30/2032 788,978 585,423 788,082 589,407 2.550%, Due 3/30/2032 495,553 380,395 495,207 390,370 6.200%, Due 4/22/2033 891,740 896,382 891,277 907,965 3.500%, Due 6/1/2034 499,022 459,952 504,695 452,934 6.250%, Due 8/15/2042 239,385 229,193 239,176 251,480 5.000%, Due 6/15/2044 489,906 408,990 489,704 441,355 4.450%, Due 7/15/2045 344,655 260,946 344,549 287,242 4.000%, Due 10/2/2047 291,095 205,593 290,935 227,946 3.500%, Due 9/10/2049 392,391 252,984 392,259 275,588 2.800%, Due 9/30/2050 394,067 217,988 393,958 237,552 2.850%, Due 8/5/2051 543,278 304,695 543,162 323,527 3.200%, Due 1/30/2052 987,333 599,690 987,131 646,880 10,481,762 8,409,824 10,899,584 9,018,356 Other (b) Secured Borrowing, Due 10/27/2033 19,966 19,966 — — Secured Borrowing, Due 1/29/2035 20,000 20,000 — — 10,521,728 8,449,790 10,899,584 9,018,356 Borrowings of Consolidated Blackstone Funds Blackstone Fund Facilities (c) 1,364,253 1,364,253 1,450,000 1,450,000 CLO Notes Payable (d) 225,396 225,396 — — 1,589,649 1,589,649 1,450,000 1,450,000  $ 12,111,377  $ 10,039,439  $ 12,349,584  $ 10,468,356 (a) Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy. (b) The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.66% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72%. Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing. (c) Blackstone Fund Facilities represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Borrowings bear interest at spreads to market rates or at stated fixed rates that can vary over the borrowing term. Interest may be subject to the performance of the assets within the fund and therefore, the stated interest rate and effective interest rate may differ. (d) CLO Notes Payable are due 10/15/2029 and have an effective interest rate of 7.90% as of September 30, 2023. Scheduled principal payments for borrowings as of September 30, 2023 were as follows: Blackstone  Borrowings of  Operating  Borrowings  Consolidated Blackstone Funds Total  Borrowings  2023  $ 34  $ —  $ 34 2024 — — — 2025 325,413 — 325,413 2026 640,427 — 640,427 2027 911,572 — 911,572 Thereafter 8,777,120 1,685,566 10,462,686  $ 10,654,566  $ 1,685,566  $ 12,340,132

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Taxes	13.  Income Taxes Blackstone’s net deferred tax assets relate primarily to basis differences resulting from a step-up Blackstone is subject to examination by the U.S. Internal Revenue Service and other taxing authorities where Blackstone has significant business operations such as the United Kingdom, and various state and local jurisdictions such as New York State and New York City. The tax years under examination vary by jurisdiction. Blackstone does not expect the completion of these audits to have a material impact on its financial condition, but it may be material to operating results for a particular period, depending on the operating results for that period. Blackstone believes the liability established for unrecognized tax benefits is adequate in relation to the potential for additional assessments. It is reasonably possible that changes in the balance of unrecognized tax benefits may occur within the next 12 months; however, it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits and the impact on Blackstone’s effective tax rate over the next 12 months. As of September 30, 2023, the following are the major filing jurisdictions and their respective earliest open tax period subject to examination: Jurisdiction Year Federal 2019 New York City 2009 New York State 2016 United Kingdom 2011

Earnings Per Share and Stockhol

Earnings Per Share and Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Earnings Per Share and Stockholders' Equity	14. Earnings Per Share and Stockholders’ Equity Earnings Per Share Basic and diluted net income per share of common stock for the three and nine months ended September 30, 2023 and 2022 was calculated as follows: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Net Income for Per Share of Common Stock Calculations Net Income Attributable to Blackstone Inc., Basic and Diluted  $ 551,994  $ 2,296  $ 1,239,080  $ 1,189,777 Shares/Units Outstanding Weighted-Average Shares of Common Stock Outstanding, Basic 757,958,602 742,345,646 754,211,390 739,963,370 Weighted-Average Shares of Unvested Deferred Restricted Common Stock 87,494 149,886 244,936 308,877 Weighted-Average Shares of Common Stock Outstanding, Diluted  758,046,096  742,495,532  754,456,326  740,272,247 Net Income Per Share of Common Stock Basic  $ 0.73  $ —  $ 1.64  $ 1.61 Diluted  $ 0.73  $ —  $ 1.64  $ 1.61 Dividends Declared Per Share of Common Stock (a)  $ 0.79  $ 1.27  $ 2.52  $ 4.04 (a) Dividends declared reflects the calendar date of the declaration for each distribution. In computing the dilutive effect that the exchange of Blackstone Holdings Partnership Units would have on Net Income Per Share of Common Stock, Blackstone considered that net income available to holders of shares of common stock would increase due to the elimination of non-controlling non-controlling The following table summarizes the anti-dilutive securities for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Weighted-Average Blackstone Holdings Partnership Units 460,160,593 465,522,745 461,549,778 466,703,389 Share Repurchase Program On December 7, 2021, Blackstone’s board of directors authorized the repurchase of up to $2.0 billion of common stock and Blackstone Holdings Partnership Units. Under the repurchase program, repurchases may be made from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing and the actual numbers repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions. The repurchase program may be changed, suspended or discontinued at any time and does not have a specified expiration date. During the three and nine months ended September 30, 2023, Blackstone repurchased 1.3 million and 3.3 million shares of common stock at a total cost of $134.3 million and $310.4 million, respectively. During the three and nine months ended September 30, 2022, Blackstone repurchased 2.0 million and 3.9 million shares of common stock at a total cost of $196.6 million and $392.0 million, respectively. As of September 30, 2023, the amount remaining available for repurchases under the program was $797.6 million. Shares Eligible for Dividends and Distributions As of September 30, 2023, the total shares of common stock and Blackstone Holdings Partnership Units entitled to participate in dividends and distributions were as follows: Shares/Units Common Stock Outstanding 718,442,863 Unvested Participating Common Stock 39,338,248 Total Participating Common Stock 757,781,111 Participating Blackstone Holdings Partnership Units 459,651,045  1,217,432,156

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2023
Equity-Based Compensation	15. Equity-Based Compensation Blackstone has granted equity-based compensation awards to Blackstone’s senior managing directors, non-partner non-professionals For the three and nine months ended September 30, 2023, Blackstone recorded compensation expense of $260.0 million and $797.8 million, respectively, in relation to its equity-based awards with corresponding tax benefits of $49.1 million and $132.2 million, respectively. For the three and nine months ended September 30, 2022, Blackstone recorded compensation expense of $206.6 million and $636.5 million, respectively, in relation to its equity-based awards with corresponding tax benefits of $54.6 million and $127.5 million, respectively. As of September 30, 2023, there was $2.2 billion of estimated unrecognized compensation expense related to unvested awards, including compensation with performance conditions where it is probable that the performance condition will be met. This cost is expected to be recognized over a weighted-average period of 3.4 years. Total vested and unvested outstanding shares, including common stock, Blackstone Holdings Partnership Units and deferred restricted shares of common stock, were 1,217,472,540 as of September 30, 2023. Total outstanding phantom shares were 94,466 as of September 30, 2023. A summary of the status of Blackstone’s unvested equity-based awards as of September 30, 2023 and of changes during the period January 1, 2023 through September 30, 2023 is presented below: Blackstone Holdings Blackstone Inc. Equity Settled Awards Cash Settled Awards Weighted- Weighted- Weighted- Average Deferred Average Average Partnership Grant Date Restricted Shares Grant Date Phantom Grant Date Unvested Shares/Units Units Fair Value of Common Stock Fair Value Shares Fair Value Balance, December 31, 2022 11,029,996 $ 38.02 31,001,563 $ 82.94 48,886 $ 85.04 Granted — — 15,541,313 85.15 69,267 93.20 Vested (5,974,487 ) 37.49 (8,362,042 ) 73.81 (10,204 ) 99.50 Forfeited (48,299 ) 42.65 (602,684 ) 89.92 (18,866 ) 68.63 Balance, September 30, 2023 5,007,210 $ 38.69 37,578,150 $ 85.82 89,083 $ 104.62 Shares/Units Expected to Vest The following unvested shares and units, after expected forfeitures, as of September 30, 2023, are expected to vest: Weighted- Average Service Period Shares/Units in Years Blackstone Holdings Partnership Units 4,916,949 1.1 Deferred Restricted Shares of Common Stock 32,867,925 3.1 Total Equity-Based Awards   37,784,874 2.9 Phantom Shares 73,413 3.2

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions	16. Related Party Transactions Affiliate Receivables and Payables Due from Affiliates and Due to Affiliates consisted of the following: September 30, December 31, 2023 2022 Due from Affiliates Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated  $ 3,555,322  $ 3,344,813 Due from Certain Non-Controlling 764,012 741,319 Accrual for Potential Clawback of Previously Distributed Performance Allocations 78,999 60,575  $ 4,398,333  $ 4,146,707 September 30, December 31, 2023 2022 Due to Affiliates Due to Certain Non-Controlling  $ 1,628,268  $ 1,602,933 Due to Non-Consolidated 106,972 157,982 Due to Certain Non-Controlling 230,713 198,875 Accrual for Potential Repayment of Previously Received Performance Allocations 222,271 158,691  $ 2,188,224  $ 2,118,481 Interests of the Founder, Senior Managing Directors, Employees and Other Related Parties The Founder, senior managing directors, employees and certain other related parties invest on a discretionary basis in the consolidated Blackstone Funds both directly and through consolidated entities. These investments generally are subject to preferential management fee and performance allocation or incentive fee arrangements. As of September 30, 2023 and December 31, 2022, such investments aggregated $1.7 billion and $1.6 billion, respectively. Their share of the Net Income Attributable to Redeemable Non-Controlling Non-Controlling Contingent Repayment Guarantee Blackstone and its personnel who have received Performance Allocation distributions have guaranteed payment on a several basis (subject to a cap) to the carry funds of any clawback obligation with respect to the excess Performance Allocation allocated to the general partners of such funds and indirectly received thereby to the extent that either Blackstone or its personnel fails to fulfill its clawback obligation, if any. The Accrual for Potential Repayment of Previously Received Performance Allocations represents amounts previously paid to Blackstone Holdings and non-controlling Tax Receivable Agreements Blackstone used a portion of the proceeds from the IPO and other sales of shares to purchase interests in the predecessor businesses from the predecessor owners. In addition, holders of Blackstone Holdings Partnership Units may exchange their Blackstone Holdings Partnership Units for shares of Blackstone common stock on a one-for-one Blackstone has entered into tax receivable agreements with each of the predecessor owners and additional tax receivable agreements have been executed, and will continue to be executed, with senior managing directors and others who acquire Blackstone Holdings Partnership Units. The agreements provide for the payment by the corporate taxpayer to such owners of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax that the corporate taxpayers actually realize as a result of the aforementioned increases in tax basis and of certain other tax benefits related to entering into these tax receivable agreements. For purposes of the tax receivable agreements, cash savings in income tax will be computed by comparing the actual income tax liability of the corporate taxpayers to the amount of such taxes that the corporate taxpayers would have been required to pay had there been no increase to the tax basis of the tangible and intangible assets of Blackstone Holdings as a result of the exchanges and had the corporate taxpayers not entered into the tax receivable agreements. Assuming no future material changes in the relevant tax law and that the corporate taxpayers earn sufficient taxable income to realize the full tax benefit of the increased amortization of the assets, the expected future payments under the tax receivable agreements (which are taxable to the recipients) will aggregate $1.6 billion over the next 15 years. The after-tax pre-IPO Amounts related to the deferred tax asset resulting from the increase in tax basis from the exchange of Blackstone Holdings Partnership Units to shares of Blackstone common stock, the resulting remeasurement of net deferred tax assets at the Blackstone ownership percentage at the balance sheet date, the due to affiliates for the future payments resulting from the tax receivable agreements and resulting adjustment to partners’ capital are included as Acquisition of Ownership Interests from Non-Controlling Non-Cash Other Blackstone does business with and on behalf of some of its Portfolio Companies; all such arrangements are on a negotiated basis. Additionally, please see Note 17. “Commitments and Contingencies — Contingencies — Guarantees” for information regarding guarantees provided to a lending institution for certain loans held by employees.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies	17. Commitments and Contingencies Commitments Investment Commitments Blackstone had $4.8 billion of investment commitments as of September 30, 2023 representing general partner capital funding commitments to the Blackstone Funds, limited partner capital funding to other funds and Blackstone principal investment commitments, including loan commitments. The consolidated Blackstone Funds had signed investment commitments of $173.6 million as of September 30, 2023, which includes $59.2 million of signed investment commitments for portfolio company acquisitions in the process of closing. Contingencies Guarantees Certain of Blackstone’s consolidated real estate funds guarantee payments to third parties in connection with the ongoing business activities and/or acquisitions of their Portfolio Companies. There is no direct recourse to Blackstone to fulfill such obligations. To the extent that underlying funds are required to fulfill guarantee obligations, Blackstone’s invested capital in such funds is at risk. Total investments at risk in respect of guarantees extended by consolidated real estate funds was $22.5 million as of September 30, 2023. The Blackstone Holdings Partnerships provided guarantees to a lending institution for certain loans held by employees either for investment in Blackstone Funds or for members’ capital contributions to The Blackstone Group International Partners LLP. The amount guaranteed as of September 30, 2023 was $75.2 million. Strategic Ventures In December 2022 and January 2023, Blackstone entered into long-term as of the subscription dates, including any appreciation or dividends received by Blackstone in respect thereof. Pursuant to the strategic venture, Blackstone is entitled to receive an incremental 5% cash 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 connection with the above arrangements. As of September 30, 2023, the fair value of the assets pledged was $1.2 billion and the total liability recognized was $260.2 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 Over the objection of the Blackstone Defendants and others, in December 2020, the Circuit Court permitted the Attorney General of the Commonwealth of Kentucky (the “AG”) to intervene in the Mayberry Action. In December 2022, the Mayberry Action was stayed pending resolution of an interlocutory appeal in which the Blackstone Defendants and others argued that the Circuit Court did not have jurisdiction to continue the Mayberry Action after the ruling of the Kentucky Supreme Court. In April 2023, the Kentucky Court of Appeals agreed with the defendants’ position, holding that the Circuit Court exceeded its authority in permitting the AG’s intervention despite the Kentucky Supreme Court’s instruction to dismiss. Accordingly, the Kentucky Court of Appeals vacated all orders entered by the Circuit Court other than the order dismissing the original derivative complaint in the Mayberry Action. In July 2023, the AG filed a motion for discretionary review of the Court of Appeals’ decision by the Kentucky Supreme Court, which is pending. Additionally, around the time the AG moved to intervene in 2020, the AG separately filed an additional back-up largely the same defendants as the Mayberry Action, including Stephen A. Schwarzman, J. Tomilson Hill and Blackstone Inc. (the “July 2020 Action”). The AG did not pursue the July 2020 Action until August 2023, when the AG served a substantially identical amended complaint which, in September 2023, the named defendants moved to dismiss. Concurrently, out of an abundance of caution, BLP filed a motion to dismiss and a motion to strike references to BLP as a purported defendant, even though the July 2020 Action, as amended, does not name BLP as a defendant. We believe that the July 2020 Action—initiated some nine years after BLP was engaged by KRS—is even more clearly barred by the statute of limitations than the Mayberry Action. 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 in the Mayberry Action, and in July 2021 they amended their complaint to add class action allegations. Defendants removed Taylor I to the U.S. District Court for the Eastern District of Kentucky, and in March 2022, the District Court stayed Taylor I pending the resolution of the AG’s suit in the Mayberry Action. In August 2021, a group of KRS members—including those that filed Taylor I—filed a new action in Franklin County Circuit Court (“Taylor II”), against the Blackstone Defendants, other defendants named in the Mayberry Action, and other KRS officials. The filed complaint is substantially similar to that filed in Taylor I and the Mayberry Action. Motions to dismiss are pending. The Blackstone Defendants believe they have strong defenses on statute of limitations grounds, among others, to both Taylor I and Taylor II. In May 2022, the presiding judge recused himself from the Mayberry Action and Taylor II, and the cases were reassigned to another judge in the Franklin County Circuit Court. In April 2021, the AG filed an action (the “Declaratory Judgment Action”) against BLP and the other fund manager defendants from the Mayberry Action in Franklin County Circuit Court. The action sought to have certain provisions in the subscription agreements between KRS and the fund managers declared to be in violation of the Kentucky Constitution. In March 2022, the Circuit Court granted summary judgment to the AG. BLP’s appeal is currently pending. Blackstone continues to believe that the preceding lawsuits against Blackstone are totally without merit and intends to defend them vigorously. In July 2021, BLP filed a breach of contract action against defendants affiliated with KRS alleging that the Mayberry Action and the Declaratory Judgment Action breach the parties’ subscription agreements governing KRS’s investment with BLP. The action seeks damages, including legal fees and expenses incurred in defending against the above actions. In April 2022, the Circuit Court dismissed BLP’s complaint without prejudice to refiling, on the grounds that the action was not yet ripe for adjudication. On May 19, 2023, the Court of Appeals affirmed the Circuit Court’s dismissal, without prejudice, of BLP’s complaint on ripeness grounds. On August 7, 2023, BLP filed a motion with the Kentucky Supreme Court for discretionary review, to which defendants affiliated with KRS objected. That motion 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: September 30, 2023 December 31, 2022 Current and Current and Blackstone Former Blackstone Former Segment Holdings Personnel (a) Total (b) Holdings Personnel (a) Total (b) Real Estate  $ 87,842  $ 54,506  $ 142,348  $ 78,644  $ 51,771  $ 130,415 Private Equity 38,384 24,235 62,619 19,279 8,569 27,848 Credit & Insurance 204 258 462 223 205 428 Hedge Fund Solutions 17,399 (557 ) 16,842 — — —  $ 143,829  $ 78,442  $ 222,271  $ 98,146  $ 60,545  $ 158,691 (a) The split of clawback between Blackstone Holdings and Current and Former Personnel is based on the performance of individual investments held by a fund rather than on a fund by fund basis. (b) Total is a component of Due to Affiliates. See Note 16. “Related Party Transactions — Affiliate Receivables and Payables — Due to Affiliates.” During the nine months ended September 30, 2023, the Blackstone general partners paid an interim cash clawback obligation of $6.5 million, primarily related to a Real Estate segment fund, of which $4.2 million was paid by Blackstone Holdings and $2.3 million by current and former Blackstone personnel. For Private Equity, Real Estate, and certain Credit & Insurance Funds, a portion of the Performance Allocations paid to current and former Blackstone personnel is held in segregated accounts in the event of a cash clawback obligation. These segregated accounts are not included in the Condensed Consolidated Financial Statements of Blackstone, except to the extent a portion of the assets held in the segregated accounts may be allocated to a consolidated Blackstone fund of hedge funds. At September 30, 2023, $1.1 billion was held in segregated accounts for the purpose of meeting any clawback obligations of current and former personnel if such payments are required. In the Credit & Insurance segment, payment of Performance Allocations to Blackstone by the majority of the stressed/distressed, mezzanine and credit alpha strategies funds are substantially deferred under the terms of the partnership agreements. This deferral mitigates the need to hold funds in segregated accounts in the event of a cash clawback obligation. If, at September 30, 2023, all of the investments held by Blackstone’s carry funds were deemed worthless, a possibility that management views as remote, the amount of Performance Allocations subject to potential clawback would be $6.3 billion, on an after-tax

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2023
Segment Reporting	18. Segment Reporting Blackstone conducts its alternative asset management businesses through four segments: • Real Estate – Blackstone’s Real Estate segment primarily comprises its management of opportunistic real estate funds, Core+ real estate funds, and real estate debt and credit strategies. • Private Equity – Blackstone’s Private Equity segment includes its management of flagship corporate private equity funds, sector and geographically-focused corporate private equity funds, core private equity funds, an opportunistic investment platform, a secondary fund of funds business, infrastructure-focused funds, a life sciences investment platform, a growth equity investment platform, a multi-asset investment program for eligible high net worth investors and a capital markets services business. • Credit & Insurance – Blackstone’s Credit & Insurance segment consists principally of Blackstone Credit, which is organized into two overarching strategies: private credit (which includes mezzanine and direct lending funds, private placement strategies, stressed/distressed strategies and energy strategies) and liquid credit (which consists of CLOs, closed-ended funds, open-ended funds and separately managed accounts). In addition, the segment includes an insurer-focused platform, an asset-based finance platform and publicly traded master limited partnership investment platform. • Hedge Fund Solutions – The largest component of Blackstone’s Hedge Fund Solutions segment is Blackstone Alternative Asset Management, which manages a broad range of commingled and customized hedge fund of fund solutions. The segment also includes a GP Stakes business and investment platforms that invest directly, as well as investment platforms that seed new hedge fund businesses and create alternative solutions through daily liquidity products. These business segments are differentiated by their various investment strategies. Each of the segments primarily earns its income from management fees and investment returns on assets under management. Segment Distributable Earnings is Blackstone’s segment profitability measure used to make operating decisions and assess performance across Blackstone’s four segments. Segment Distributable Earnings represents the net realized earnings of Blackstone’s segments and is the sum of Fee Related Earnings and Net Realizations for each segment. Blackstone’s segments are presented on a basis that deconsolidates Blackstone Funds, eliminates non-controlling Non-Recurring Non-Recurring non-recurring non-recurring period-to-period For segment reporting purposes, Segment Distributable Earnings is presented along with its major components, Fee Related Earnings and Net Realizations. Fee Related Earnings is used to assess Blackstone’s ability to generate profits from revenues that are measured and received on a recurring basis and not subject to future realization events. Net Realizations is the sum of Realized Principal Investment Income and Realized Performance Revenues less Realized Performance Compensation. Performance Allocations and Incentive Fees are presented together and referred to collectively as Performance Revenues or Performance Compensation. Segment Presentation The following tables present the financial data for Blackstone’s four segments for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 697,561   $ 457,008   $ 333,828   $ 131,346   $ 1,619,743 Transaction, Advisory and Other Fees, Net 10,686 21,780 10,362 1,783 44,611 Management Fee Offsets (7,616 ) (1,982 ) (898 ) (18 ) (10,514 ) Total Management and Advisory Fees, Net 700,631 476,806 343,292 133,111 1,653,840 Fee Related Performance Revenues 127,841 — 146,710 — 274,551 Fee Related Compensation (199,384 ) (145,987 ) (148,056 ) (46,496 ) (539,923 ) Other Operating Expenses (83,074 ) (78,547 ) (76,147 ) (26,677 ) (264,445 ) Fee Related Earnings 546,014 252,272 265,799 59,938 1,124,023 Realized Performance Revenues 17,419 299,272 14,349 6,900 337,940 Realized Performance Compensation (7,813 ) (117,814 ) (5,451 ) (2,917 ) (133,995 ) Realized Principal Investment Income 1,565 22,497 29,213 2,225 55,500 Total Net Realizations 11,171 203,955 38,111 6,208 259,445 Total Segment Distributable Earnings   $ 557,185   $ 456,227   $ 303,910   $ 66,146   $ 1,383,468 Three Months Ended September 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 610,606   $ 466,474   $ 312,663   $ 138,818   $ 1,528,561 Transaction, Advisory and Other Fees, Net 54,342 24,313 10,629 581 89,865 Management Fee Offsets (1,842 ) (3,634 ) (1,323 ) (57 ) (6,856 ) Total Management and Advisory Fees, Net 663,106 487,153 321,969 139,342 1,611,570 Fee Related Performance Revenues 260,003 — 112,128 — 372,131 Fee Related Compensation (239,572 ) (142,381 ) (135,420 ) (40,895 ) (558,268 ) Other Operating Expenses (74,701 ) (76,138 ) (68,696 ) (26,599 ) (246,134 ) Fee Related Earnings 608,836 268,634 229,981 71,848 1,179,299 Realized Performance Revenues 142,794 309,326 12,459 4,430 469,009 Realized Performance Compensation (33,464 ) (164,531 ) (4,992 ) (3,237 ) (206,224 ) Realized Principal Investment Income 45,297 38,015 46,993 9,460 139,765 Total Net Realizations 154,627 182,810 54,460 10,653 402,550 Total Segment Distributable Earnings   $ 763,463   $ 451,444   $ 284,441   $ 82,501   $ 1,581,849 The following tables present the financial data for Blackstone’s four segments as of September 30, 2023 and for the nine months ended September 30, 2023 and 2022: September 30, 2023 and the Nine Months Then Ended Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 2,112,925   $ 1,351,630   $ 995,915   $ 399,429   $ 4,859,899 Transaction, Advisory and Other Fees, Net 58,313 85,389 33,815 5,539 183,056 Management Fee Offsets (26,380 ) (4,058 ) (3,055 ) (49 ) (33,542 ) Total Management and Advisory Fees, Net 2,144,858 1,432,961 1,026,675 404,919 5,009,413 Fee Related Performance Revenues 279,888 — 409,645 — 689,533 Fee Related Compensation (536,000 ) (463,293 ) (480,289 ) (138,120 ) (1,617,702 ) Other Operating Expenses (229,204 ) (229,713 ) (231,760 ) (82,782 ) (773,459 ) Fee Related Earnings 1,659,542 739,955 724,271 184,017 3,307,785 Realized Performance Revenues 148,236 945,770 181,874 92,009 1,367,889 Realized Performance Compensation (80,571 ) (413,389 ) (79,794 ) (34,635 ) (608,389 ) Realized Principal Investment Income 3,719 59,353 15,866 12,792 91,730 Total Net Realizations 71,384 591,734 117,946 70,166 851,230 Total Segment Distributable Earnings   $ 1,730,926   $ 1,331,689   $ 842,217   $ 254,183   $ 4,159,015 Segment Assets   $ 13,683,819   $ 14,152,032   $ 6,683,449   $ 2,516,441   $ 37,035,741 Nine Months Ended September 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 1,802,543   $ 1,321,405   $ 911,697   $ 428,941   $ 4,464,586 Transaction, Advisory and Other Fees, Net 141,801 64,522 27,143 5,500 238,966 Management Fee Offsets (3,491 ) (53,933 ) (4,107 ) (166 ) (61,697 ) Total Management and Advisory Fees, Net 1,940,853 1,331,994 934,733 434,275 4,641,855 Fee Related Performance Revenues 1,017,027 (648 ) 260,410 — 1,276,789 Fee Related Compensation (858,307 ) (446,053 ) (399,799 ) (145,993 ) (1,850,152 ) Other Operating Expenses (229,033 ) (227,115 ) (189,745 ) (75,849 ) (721,742 ) Fee Related Earnings 1,870,540 658,178 605,599 212,433 3,346,750 Realized Performance Revenues 2,943,430 882,448 122,175 40,540 3,988,593 Realized Performance Compensation (1,154,897 ) (428,614 ) (54,487 ) (14,320 ) (1,652,318 ) Realized Principal Investment Income 128,388 112,357 76,793 22,831 340,369 Total Net Realizations 1,916,921 566,191 144,481 49,051 2,676,644 Total Segment Distributable Earnings   $ 3,787,461   $ 1,224,369   $ 750,080   $ 261,484   $ 6,023,394 Reconciliations of Total Segment Amounts The following tables reconcile the Total Segment Revenues, Expenses and Distributable Earnings to their equivalent GAAP measure for the three and nine months ended September 30, 2023 and 2022 along with Total Assets as of September 30, 2023: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Revenues Total GAAP Revenues   $ 2,541,285   $ 1,058,114   $ 6,737,821   $ 6,813,614 Less: Unrealized Performance Revenues (a) 63,209 771,637 708,146 2,946,255 Less: Unrealized Principal Investment (Income) Loss (b) (84,780 ) 996,105 233,638 1,172,635 Less: Interest and Dividend Revenue (c) (113,904 ) (57,462 ) (362,245 ) (178,090 ) Less: Other Revenue (d) (63,748 ) (198,546 ) (17,850 ) (427,069 ) Impact of Consolidation (e) (20,389 ) 23,373 (139,784 ) (79,124 ) Transaction-Related and Non-Recurring (420 ) (1,264 ) (3,093 ) (2,714 ) Intersegment Eliminations 578 518 1,932 2,099 Total Segment Revenue (g)   $ 2,321,831   $ 2,592,475   $ 7,158,565   $ 10,247,606 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Expenses Total GAAP Expenses   $ 1,374,905   $ 961,361   $ 4,039,560   $ 3,902,496 Less: Unrealized Performance Allocations Compensation (h) (11,866 ) 359,590 247,228 1,273,849 Less: Equity-Based Compensation (i) (255,616 ) (190,197 ) (773,505 ) (587,386 ) Less: Interest Expense (j) (110,014 ) (80,312 ) (321,353 ) (216,339 ) Impact of Consolidation (e) (43,172 ) (14,125 ) (140,725 ) (33,325 ) Amortization of Intangibles (k) (7,357 ) (13,238 ) (26,110 ) (47,326 ) Transaction-Related and Non-Recurring (6,670 ) (10,511 ) (20,192 ) (62,435 ) Administrative Fee Adjustment (l) (2,425 ) (2,460 ) (7,285 ) (7,421 ) Intersegment Eliminations 578 518 1,932 2,099 Total Segment Expenses (m)   $ 938,363   $ 1,010,626   $ 2,999,550   $ 4,224,212 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Other Income Total GAAP Other Income (Loss)   $ (49,078 )   $ 1,178   $ 104,373   $ (51,524 ) Impact of Consolidation (e) 49,078 (1,178 ) (104,373 ) 51,524 Total Segment Other Income   $ —   $ —   $ —   $ — Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Income Before Provision for Taxes Total GAAP Income Before Provision for Taxes   $ 1,117,302   $ 97,931   $ 2,802,634   $ 2,859,594 Less: Unrealized Performance Revenues (a) 63,209 771,637 708,146 2,946,255 Less: Unrealized Principal Investment (Income) Loss (b) (84,780 ) 996,105 233,638 1,172,635 Less: Interest and Dividend Revenue (c) (113,904 ) (57,462 ) (362,245 ) (178,090 ) Less: Other Revenue (d) (63,748 ) (198,546 ) (17,850 ) (427,069 ) Plus: Unrealized Performance Allocations Compensation (h) 11,866 (359,590 ) (247,228 ) (1,273,849 ) Plus: Equity-Based Compensation (i) 255,616 190,197 773,505 587,386 Plus: Interest Expense (j) 110,014 80,312 321,353 216,339 Impact of Consolidation (e) 71,861 36,320 (103,432 ) 5,725 Amortization of Intangibles (k) 7,357 13,238 26,110 47,326 Transaction-Related and Non-Recurring 6,250 9,247 17,099 59,721 Administrative Fee Adjustment (l) 2,425 2,460 7,285 7,421 Total Segment Distributable Earnings   $ 1,383,468   $ 1,581,849   $ 4,159,015   $ 6,023,394 As of  September 30,  2023 Total Assets Total GAAP Assets   $ 41,663,823 Impact of Consolidation (e) (4,628,082 ) Total Segment Assets   $ 37,035,741 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 and Non-Recurring (a) This adjustment removes Unrealized Performance Revenues on a segment basis. (b) This adjustment removes Unrealized Principal Investment Income (Loss) on a segment basis. (c) This adjustment removes Interest and Dividend Revenue on a segment basis. (d) This adjustment removes Other Revenue on a segment basis. For the three months ended September 30, 2023 and 2022, Other Revenue on a GAAP basis was $63.8 million and $199.4 million, and included $63.2 million and $198.4 million of foreign exchange gains (losses), respectively. For the nine months ended September 30, 2023 and 2022, Other Revenue on a GAAP basis was $18.0 million and $427.8 million, and included $16.4 million and $426.7 million of foreign exchange gains (losses), respectively. (e) This adjustment reverses the effect of consolidating Blackstone Funds, which are excluded from Blackstone’s segment presentation. This adjustment includes the elimination of Blackstone’s interest in these funds, the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling (f) This adjustment removes Transaction-Related and Non-Recurring Non-Recurring non-recurring non-recurring period-to-period (g) Total Segment Revenues is comprised of the following: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Total Segment Management and Advisory Fees, Net   $ 1,653,840   $ 1,611,570   $ 5,009,413   $ 4,641,855 Total Segment Fee Related Performance Revenues 274,551 372,131 689,533 1,276,789 Total Segment Realized Performance Revenues 337,940 469,009 1,367,889 3,988,593 Total Segment Realized Principal Investment Income 55,500 139,765 91,730 340,369 Total Segment Revenues   $ 2,321,831   $ 2,592,475   $ 7,158,565   $ 10,247,606 (h) This adjustment removes Unrealized Performance Allocations Compensation. (i) This adjustment removes Equity-Based Compensation on a segment basis. (j) This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement. (k) This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation. (l) This adjustment adds an amount equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units. The administrative fee is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation. (m) Total Segment Expenses is comprised of the following: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Total Segment Fee Related Compensation   $ 539,923   $ 558,268   $ 1,617,702   $ 1,850,152 Total Segment Realized Performance Compensation 133,995 206,224 608,389 1,652,318 Total Segment Other Operating Expenses 264,445 246,134 773,459 721,742 Total Segment Expenses   $ 938,363   $ 1,010,626   $ 2,999,550   $ 4,224,212 Reconciliations of Total Segment Components The following tables reconcile the components of Total Segments to their equivalent GAAP measures, reported on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Management and Advisory Fees, Net GAAP   $ 1,655,443   $ 1,617,754   $ 5,023,128   $ 4,654,877 Segment Adjustment (a) (1,603 ) (6,184 ) (13,715 ) (13,022 ) Total Segment   $ 1,653,840   $ 1,611,570   $ 5,009,413   $ 4,641,855 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 GAAP Realized Performance Revenues to Total Segment Fee Related Performance Revenues GAAP Incentive Fees   $ 158,801   $ 110,776   $ 454,754   $ 314,863 Investment Income - Realized Performance Allocations 453,690 725,888 1,602,668 4,946,043 GAAP 612,491 836,664 2,057,422 5,260,906 Total Segment Less: Realized Performance Revenues (337,940 ) (469,009 ) (1,367,889 ) (3,988,593 ) Segment Adjustment (b) — 4,476 — 4,476 Total Segment   $ 274,551   $ 372,131   $ 689,533   $ 1,276,789 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 GAAP Compensation to Total Segment Fee Related Compensation GAAP Compensation   $ 700,268   $ 600,273   $ 2,153,570   $ 1,942,790 Incentive Fee Compensation 65,432 50,355 192,940 136,737 Realized Performance Allocations Compensation 168,620 313,930 670,610 2,067,447 GAAP 934,320 964,558 3,017,120 4,146,974 Total Segment Less: Realized Performance Compensation (133,995 ) (206,224 ) (608,389 ) (1,652,318 ) Less: Equity-Based Compensation - Fee Related Compensation (252,928 ) (187,873 ) (764,527 ) (580,029 ) Less: Equity-Based Compensation - Performance Compensation (2,688 ) (2,324 ) (8,978 ) (7,357 ) Segment Adjustment (c) (4,786 ) (9,869 ) (17,524 ) (57,118 ) Total Segment   $ 539,923   $ 558,268   $ 1,617,702   $ 1,850,152 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 GAAP General, Administrative and Other to Total Segment Other Operating Expenses GAAP   $ 279,186   $ 270,369   $ 827,614   $ 800,331 Segment Adjustment (d) (14,741 ) (24,235 ) (54,155 ) (78,589 ) Total Segment   $ 264,445   $ 246,134   $ 773,459   $ 721,742 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Performance Revenues GAAP Incentive Fees   $ 158,801   $ 110,776   $ 454,754   $ 314,863 Investment Income - Realized Performance Allocations 453,690 725,888 1,602,668 4,946,043 GAAP 612,491 836,664 2,057,422 5,260,906 Total Segment Less: Fee Related Performance Revenues (274,551 ) (372,131 ) (689,533 ) (1,276,789 ) Segment Adjustment (b) — 4,476 — 4,476 Total Segment   $ 337,940   $ 469,009   $ 1,367,889   $ 3,988,593 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Performance Compensation GAAP Incentive Fee Compensation  $ 65,432  $ 50,355  $ 192,940  $ 136,737 Realized Performance Allocation Compensation 168,620 313,930 670,610 2,067,447 GAAP 234,052 364,285 863,550 2,204,184 Total Segment Less: Fee Related Performance Compensation (e) (97,369 ) (155,737 ) (246,183 ) (544,509 ) Less: Equity-Based Compensation - Performance Compensation (2,688 ) (2,324 ) (8,978 ) (7,357 ) Total Segment  $ 133,995  $ 206,224  $ 608,389  $ 1,652,318 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Principal Investment Income GAAP  $ 94,313  $ 193,228  $ 257,206  $ 743,493 Segment Adjustment (f) (38,813 ) (53,463 ) (165,476 ) (403,124 ) Total Segment  $ 55,500  $ 139,765  $ 91,730  $ 340,369 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 and Non-Recurring (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 and Non-Recurring (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

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events	19. Subsequent Events There have been no events since September 30, 2023 that require recognition or disclosure in the Condensed Consolidated Financial Statements.

Summary of Significant Accoun_2

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

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Intangible Assets, Net	Intangible Assets, Net consists of the following: September 30, December 31, 2023 2022 Finite-Lived Intangible Assets/Contractual Rights $ 1,769,372 $ 1,745,376 Accumulated Amortization (1,559,162 ) (1,528,089 ) Intangible Assets, Net $ 210,210 $ 217,287

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Investments	Investments consist of the following: September 30, December 31, 2023 2022 Investments of Consolidated Blackstone Funds $ 5,224,104 $ 5,136,966 Equity Method Investments Partnership Investments 5,588,222 5,530,419 Accrued Performance Allocations 11,606,901 12,360,684 Corporate Treasury Investments 763,515 1,053,540 Other Investments 4,157,115 3,471,642 $  27,339,857 $  27,553,251
Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in Condensed Consolidated Statements of Operations	The following table presents the Realized and Net Change in Unrealized Gains (Losses) on investments held by the consolidated Blackstone Funds and a reconciliation to Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities in the Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Gains (Losses) $ (2,624 ) $ 17,083 $ 18,184 $ 128,952 Net Change in Unrealized Gains (Losses) (19,145 ) (30,603 ) 21,805 (216,198 ) Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds (21,769 ) (13,520 ) 39,989 (87,246 ) Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds (27,309 ) 14,698 62,497 34,974 Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities $ (49,078 ) $ 1,178 $ 102,486 $ (52,272 )
Performance Fees Allocated to Funds	Accrued Performance Allocations to Blackstone were as follows: Real Private Credit & Hedge Fund Estate Equity Insurance Solutions Total Accrued Performance Allocations, December 31, 2022 $ 5,334,117 $ 6,037,575 $ 569,898 $ 419,094 $ 12,360,684 Performance Allocations as a Result of Changes in Fund Fair Values (771,235 ) 1,441,800 169,754 85,859 926,178 Foreign Exchange Loss (512 ) — — — (512 ) Fund Distributions (686,861 ) (701,561 ) (204,937 ) (86,090 ) (1,679,449 ) Accrued Performance Allocations, September 30, 2023 $ 3,875,509 $ 6,777,814 $ 534,715 $ 418,863 $ 11,606,901
Realized and Net Change in Unrealized Gains (Losses) on Investments	The following table presents the Realized and Net Change in Unrealized Gains (Losses) on these investments: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Losses $ (2,283 ) $ (2,857 ) $ (2,206 ) $ (23,474 ) Net Change in Unrealized Gains (Losses) (7,425 ) (16,196 ) 1,161 (63,779 ) $ (9,708 ) $ (19,053 ) $ (1,045 ) $ (87,253 )
Realized and Net Change in Unrealized Gains in Other Investments	The following table presents Blackstone’s Realized and Net Change in Unrealized Gains (Losses) in Other Investments: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Gains (Losses) $ 2,305 $ 83,269 $ (13,880 ) $ 200,610 Net Change in Unrealized Gains (Losses) 149,851 (970,654 ) (5,334 ) (1,121,924 ) $ 152,156 $ (887,385 ) $ (19,214 ) $ (921,314 )

Net Asset Value as Fair Value (

Net Asset Value as Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
Summary of Fair Value by Strategy Type Alongside Consolidated Funds of Hedge Funds' Remaining Unfunded Commitments and Ability to Redeem Such Investments	A summary of fair value by strategy type and ability to redeem such investments as of September 30, 2023 is presented below: Redemption Frequency Redemption Strategy (a) Fair Value  (if currently eligible)  Notice Period Equity $ 447,923 (b) (b) Real Estate 115,850 (c) (c) Credit Driven 5,758 (d) (d) Commodities 1,038 (e) (e) Diversified Instruments 16 (f) (f) $    570,585 (a) As of September 30, 2023, Blackstone had no unfunded commitments. (b) The Equity category includes investments in hedge funds that invest primarily in domestic and international equity securities. Investments representing 39% 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 61% of the fair value of the investments in this category are redeemable as of the reporting date. (c) The Real Estate category includes investments in funds that primarily invest in real estate assets. All investments in this category are redeemable as of the reporting date. (d) The Credit Driven category includes investments in hedge funds that invest primarily in domestic and international bonds. All investments in this category may not be redeemed at, or within three months of, the reporting date. (e) The Commodities category includes investments in commodities-focused funds that primarily invest in futures and physical-based commodity driven strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date. (f) Diversified Instruments include investments in funds that invest across multiple strategies. All investments in this category may not be redeemed at, or within three months of, the reporting date.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments	The table below summarizes the aggregate notional amount and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts. September 30, 2023 December 31, 2022 Assets Liabilities Assets Liabilities Fair Fair Fair Fair Notional Value Notional Value Notional Value Notional Value Freestanding Derivatives Blackstone Interest Rate Contracts  $ 768,990  $ 213,737  $ 604,200  $ 119,274  $ 789,540  $ 188,043  $ 621,700  $ 83,331 Foreign Currency Contracts 140,256 3,328 427,596 10,042 541,238 8,040 190,774 3,542 Credit Default Swaps 3,108 589 3,748 616 2,007 384 8,768 1,309 Total Return Swaps 31,916 4,349 — — 42,233 6,210 — — Equity Options — — 1,155,320 260,167 — — 996,592 48,581 944,270 222,003 2,190,864 390,099 1,375,018 202,677 1,817,834 136,763 Investments of Consolidated Blackstone Funds Interest Rate Contracts 819,679 73,120 — — 931,752 74,926 — — Foreign Currency Contracts — — — — — — 5,133 284 819,679 73,120 — — 931,752 74,926 5,133 284  $  1,763,949  $  295,123  $  2,190,864  $  390,099  $  2,306,770  $  277,603  $  1,822,967  $  137,047
Summary of Impact of Derivative Financial Instruments to Condensed Consolidated Statements of Operations	The table below summarizes the impact to the Condensed Consolidated Statements of Operations from derivative financial instruments: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Freestanding Derivatives Realized Gains (Losses) Interest Rate Contracts $ 2,213 $ 7,740 $ 2,360 $ 13,018 Foreign Currency Contracts (3,072 ) (2,206 ) 6,951 (6,981 ) Credit Default Swaps — (115 ) (413 ) 13 Total Return Swaps 3,436 — 14,461 — 2,577 5,419 23,359 6,050 Net Change in Unrealized Gains (Losses) Interest Rate Contracts (3,148 ) 113,623 (371 ) 221,300 Foreign Currency Contracts (3,375 ) (22,626 ) (11,213 ) (25,232 ) Credit Default Swaps 2 131 366 (289 ) Total Return Swaps 884 526 (1,293 ) 526 Equity Options (38,710 ) — (211,586 ) — (44,347 ) 91,654 (224,097 ) 196,305 $  (41,770 ) $   97,073 $  (200,738 ) $   202,355

Fair Value Option (Tables)

Fair Value Option (Tables)	9 Months Ended
	Sep. 30, 2023
Summary of Financial Instruments for Which Fair Value Option Has Been Elected	The following table summarizes the financial instruments for which the fair value option has been elected: September 30, December 31, 2023 2022 Assets Loans and Receivables $ 79,339 $ 315,039 Equity and Preferred Securities 2,530,474 1,868,192 Debt Securities 63,776 24,784 Assets of Consolidated CLO Vehicles Corporate Loans 189,111 — $   2,862,700 $   2,208,015 Liabilities CLO Notes Payable $ 225,396 $ — Corporate Treasury Commitments 1,558 8,144 $ 226,954 $ 8,144
Realized and Net Change in Unrealized Gains (Losses) on Financial Instruments on Financial Instruments on Which Fair Value Option was Elected	The following tables present the Realized and Net Change in Unrealized Gains (Losses) on financial instruments on which the fair value option was elected: Three Months Ended September 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (520 ) $ 406 $ (3,246 ) $ 1,050 Equity and Preferred Securities 406 11,538 3,719 (45,301 ) Debt Securities — (904 ) (5,056 ) (4,418 ) Assets of Consolidated CLO Vehicles Corporate Loans 47 703 — — $ (67 ) $ 11,743 $ (4,583 ) $ (48,669 ) Liabilities CLO Notes Payable $ — $ (907 ) $ — $ — Corporate Treasury Commitments — 2,213 — (1,175 ) $ — $ 1,306 $ — $ (1,175 ) Nine Months Ended September 30, 2023 2022 Net Change Net Change Realized in Unrealized Realized in Unrealized Gains (Losses) Gains (Losses) Gains (Losses) Gains (Losses) Assets Loans and Receivables $ (6,515 ) $ 4,330 $ (6,663 ) $ (4,309 ) Equity and Preferred Securities (776 ) (6,763 ) 16,020 (58,239 ) Debt Securities — (3,611 ) (9,423 ) (32,627 ) Assets of Consolidated CLO Vehicles Corporate Loans (6,152 ) 5,335 — — $ (13,443 ) $ (709 ) $ (66 ) $ (95,175 ) Liabilities CLO Notes Payable $ — $ 16 $ — $ — Corporate Treasury Commitments — 6,586 — (9,236 ) $ — $ 6,602 $ — $ (9,236 )
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: September 30, 2023 December 31, 2022 For Financial Assets For Financial Assets Past Due (a) Past Due (a) (Deficiency) Excess (Deficiency) Excess of Fair Value Fair of Fair Value of Fair Value Fair of Fair Value Over Principal   Value   Over Principal Over Principal   Value   Over Principal Loans and Receivables $ (466 ) $ — $ — $ (2,861 ) $ — $ — Debt Securities (54,292 ) — — (48,670 ) — — Assets of Consolidated CLO Vehicles Corporate Loans (7,303 ) 1,338 — — — — $ (62,061 ) $ 1,338 $ — $ (51,531 ) $ — $ — (a) Assets are classified as past due if contractual payments are more than 90 days past due.

Fair Value Measurements of Fi_2

Fair Value Measurements of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Financial Assets and Liabilities at Fair Value	The following tables summarize the valuation of Blackstone’s financial assets and liabilities by the fair value hierarchy: September 30, 2023 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents  $ 127,047  $ —  $ —  $ —  $ 127,047 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 7,855 130,881 4,237,717 563,773 4,940,226 Debt Instruments — 199,567 11,191 — 210,758 Freestanding Derivatives — 73,120 — — 73,120 Total Investments of Consolidated Blackstone Funds 7,855 403,568 4,248,908 563,773 5,224,104 Corporate Treasury Investments 76,838 678,552 8,125 — 763,515 Other Investments 1,458,415 2,247,894 70,191 6,812 3,783,312 Total Investments 1,543,108 3,330,014 4,327,224 570,585 9,770,931 Accounts Receivable - Loans and Receivables — — 79,339 — 79,339 Other Assets - Freestanding Derivatives 754 216,900 4,349 — 222,003  $ 1,670,909  $ 3,546,914  $ 4,410,912  $ 570,585  $ 10,199,320 Liabilities Loans Payable - CLO Notes Payable  $ —  $ 225,396  $ —  $ —  $ 225,396 Accounts Payable, Accrued Expenses and Other Liabilities Freestanding Derivatives (b) 49 129,883 260,167 — 390,099 Contingent Consideration (c) — — 800 — 800 Corporate Treasury Commitments (d) — — 1,558 — 1,558 Securities Sold, Not Yet Purchased 3,789 — — — 3,789 Total Accounts Payable, Accrued Expenses and Other Liabilities 3,838 129,883 262,525 — 396,246  $ 3,838  $ 355,279  $ 262,525  $ —  $ 621,642 December 31, 2022 Level I Level II Level III NAV Total Assets Cash and Cash Equivalents  $ 1,134,733  $ —  $ —  $ —  $ 1,134,733 Investments Investments of Consolidated Blackstone Funds Equity Securities, Partnerships and LLC Interests (a) 12,024 149,689 4,195,859 596,708 4,954,280 Debt Instruments — 53,787 53,973 — 107,760 Freestanding Derivatives — 74,926 — — 74,926 Total Investments of Consolidated Blackstone Funds 12,024 278,402 4,249,832 596,708 5,136,966 Corporate Treasury Investments 116,266 931,406 5,868 — 1,053,540 Other Investments 1,473,611 1,597,696 51,155 5,985 3,128,447 Total Investments 1,601,901 2,807,504 4,306,855 602,693 9,318,953 Accounts Receivable - Loans and Receivables — — 315,039 — 315,039 Other Assets - Freestanding Derivatives 279 196,188 6,210 — 202,677  $ 2,736,913  $ 3,003,692  $ 4,628,104  $ 602,693  $ 10,971,402 Liabilities Accounts Payable, Accrued Expenses and Other Liabilities Consolidated Blackstone Funds - Freestanding Derivatives  $ —  $ 284  $ —  $ —  $ 284 Freestanding Derivatives (b) 21 88,161 48,581 — 136,763 Corporate Treasury Commitments (d) — — 8,144 — 8,144 Securities Sold, Not Yet Purchased 3,825 — — — 3,825 Total Accounts Payable, Accrued Expenses and Other Liabilities 3,846 88,445 56,725 — 149,016  $ 3,846  $ 88,445  $ 56,725  $ —  $ 149,016 LLC Limited Liability Company. (a) Equity Securities, Partnership and LLC Interest includes investments in investment funds. (b) Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility. (c) Level III contingent consideration liabilities are valued using a discounted cash flow model where the significant inputs include the discount rates. (d) Corporate Treasury Commitments are measured using third party pricing.
Summary of Quantitative Inputs and Assumptions for Items Categorized in Level III of Fair Value Hierarchy	The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of September 30, 2023. Consistent with presentation in these Notes to Condensed Consolidated Financial Statements, this table presents the Level III Investments only of Consolidated Blackstone Funds and therefore does not reflect any other Blackstone Funds. Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted- Impact to Financial Assets Investments of Consolidated Blackstone Funds Equity Securities, Partnership and LLC Interests $ 4,237,717 Discounted Cash Flows Discount Rate 2.5% - 36.0% 7.9% Lower Exit Multiple - EBITDA 4.0x - 30.6x 14.9x Higher Exit Capitalization Rate 1.6% - 13.0% 5.0% Lower Transaction Price n/a Debt Instruments 11,191 Other n/a Total Investments of Consolidated Blackstone Funds 4,248,908 Corporate Treasury Investments 8,125 Third Party Pricing n/a Loans and Receivables 79,339 Discounted Cash Flows Discount Rate 10.1% - 12.4% 10.7% Lower Other Investments (b) 74,540 Third Party Pricing n/a $ 4,410,912 The following table summarizes the quantitative inputs and assumptions used for items categorized in Level III of the fair value hierarchy as of December 31, 2022: Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted- Impact to Financial Assets Investments of Consolidated 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 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 September 30, 2023 and December 31, 2022, Other Investments includes Level III Freestanding Derivatives. For the nine months ended September 30, 2023, there have been no changes in valuation techniques within Level II and Level III that have had a material impact on the valuation of financial instruments.
Summary of Changes in Financial Assets Measured at Fair Value for Which Level III Inputs Were Used	The following tables summarize the changes in financial assets and liabilities measured at fair value for which Blackstone has used Level III inputs to determine fair value and does not include gains or losses that were reported in Level III in prior years or for instruments that were transferred out of Level III prior to the end of the respective reporting period. These tables also exclude financial assets and liabilities measured at fair value on a non-recurring Level III Financial Assets at Fair Value Three Months Ended September 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period  $ 4,439,851  $ 76,861  $ 73,612  $ 4,590,324  $ 2,791,812  $ 534,105  $ 38,603  $ 3,364,520 Transfer Into Level III (b) 12,858 — — 12,858 2,466 — 1,610 4,076 Transfer Out of Level III (b) (11,544 ) — (649 ) (12,193 ) (6,293 ) — (4,043 ) (10,336 ) Purchases 43,208 28,823 4,913 76,944 195,133 229,502 1,124 425,759 Sales (51,735 ) (23,312 ) (1,573 ) (76,620 ) (2,280 ) (217,173 ) (51 ) (219,504 ) Issuances — — — — — 6,437 — 6,437 Settlements (c) — (4,117 ) (3,389 ) (7,506 ) — (12,688 ) 566 (12,122 ) Changes in Gains (Losses) Included in Earnings (183,730 ) 1,084 3,332 (179,314 ) (158,059 ) 3,214 1,577 (153,268 ) Balance, End of Period  $ 4,248,908  $ 79,339  $ 76,246  $ 4,404,493  $ 2,822,779  $ 543,397  $ 39,386  $ 3,405,562 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date  $ (88,307 )  $ (52 )  $ (1,891 )  $ (90,250 )  $ (53,588 )  $ (3,010 )  $ 1,591  $ (55,007 ) Level III Financial Assets at Fair Value Nine Months Ended September 30, 2023 2022 Investments Investments of Loans Other of Loans Other Consolidated and Investments Consolidated and Investments Funds Receivables (a) Total Funds Receivables (a) Total Balance, Beginning of Period  $ 4,249,832  $ 315,039  $ 30,971  $ 4,595,842  $ 1,200,315  $ 392,732  $ 43,987  $ 1,637,034 Transfer In Due to Consolidation and Acquisition — — — — 1,535,171 — — 1,535,171 Transfer Out Due to Deconsolidation (3,837 ) — — (3,837 ) — — — — Transfer Into Level III (b) 26,856 — 898 27,754 2,518 — 2,517 5,035 Transfer Out of Level III (b) (16,608 ) — (3,374 ) (19,982 ) (111,824 ) — (4,043 ) (115,867 ) Purchases 214,076 200,791 56,589 471,456 522,941 674,286 8,622 1,205,849 Sales (173,442 ) (459,825 ) (3,258 ) (636,525 ) (169,710 ) (522,198 ) (2,864 ) (694,772 ) Issuances — 57,008 — 57,008 — 30,336 — 30,336 Settlements (c) — (57,205 ) (8,086 ) (65,291 ) — (34,706 ) 566 (34,140 ) Changes in Gains (Losses) Included in Earnings (47,969 ) 23,531 2,506 (21,932 ) (156,632 ) 2,947 (9,399 ) (163,084 ) Balance, End of Period  $ 4,248,908  $ 79,339  $ 76,246  $ 4,404,493  $ 2,822,779  $ 543,397  $ 39,386  $ 3,405,562 Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date  $ (48,875 )  $ 2,391  $ 2,869  $ (43,615 )  $ (41,596 )  $ (10,940 )  $ (9,476 )  $ (62,012 ) (a) Represents freestanding derivatives, corporate treasury investments and Other Investments. (b) Transfers in and out of Level III financial assets and liabilities were due to changes in the observability of inputs used in the valuation of such assets and liabilities. (c) For Freestanding Derivatives included within Other Investments, Settlements includes all ongoing contractual cash payments made or received over the life of the instrument.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2023
Maximum Exposure to Loss Relating to Non-Consolidated VIEs	Blackstone’s maximum exposure to loss relating to non-consolidated September 30, December 31, 2023 2022 Investments  $ 3,286,386  $ 3,326,669 Due from Affiliates 184,778 189,240 Potential Clawback Obligation 72,058 384,926 Maximum Exposure to Loss  $  3,543,222  $  3,900,835 Amounts Due to Non-Consolidated  $ 24  $ 6

Repurchase Agreements (Tables)

Repurchase Agreements (Tables)	9 Months Ended
	Sep. 30, 2023
Schedule of Repurchase Agreements Obligation by Type of Collateral Pledged	The following table provides information regarding Blackstone’s Repurchase Agreements December 31, 2022 Remaining Contractual Maturity of the Agreements Overnight Greater and Up to 30 - 90 than Continuous 30 Days Days 90 days Total Repurchase Agreements Loans  $ —  $ 70,776  $ —  $ 19,168  $ 89,944 Gross Amount of Recognized Liabilities for Repurchase Agreements in Note 11. “Offsetting of Assets and Liabilities”  $ 89,944 Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. “Offsetting of Assets and Liabilities”  $ —

Offsetting of Assets And Liab_2

Offsetting of Assets And Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Offsetting of Assets	The following tables present the offsetting of assets and liabilities as of September 30, 2023 and December 31, 2022: September 30, 2023 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives  $ 295,123  $ 194,042  $ 86,991  $ 14,090 September 30, 2023 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 129,931 $ 120,633 $ 616 $ 8,682 Repurchase Agreements — — — — $ 129,931 $ 120,633 $ 616 $ 8,682
Offsetting of Liabilities	December 31, 2022 Gross and Net Amounts of Gross Amounts Not Offset Assets Presented in the Statement of in the Statement Financial Condition of Financial Financial Cash Collateral Condition Instruments (a) Received Net Amount Assets Freestanding Derivatives $ 277,603 $ 165,897 $ 96,436 $ 15,270 December 31, 2022 Gross and Net Amounts of Liabilities Gross Amounts Not Offset Presented in the in the Statement of Statement of Financial Condition Financial Financial Cash Collateral Condition Instruments (a) Pledged Net Amount Liabilities Freestanding Derivatives $ 88,182 $ 85,366 $ 1,345 $ 1,471 Repurchase Agreements 89,944 89,944 — — $ 178,126 $ 175,310 $ 1,345 $ 1,471 (a) Amounts presented are inclusive of both legally enforceable master netting agreements, and financial instruments received or pledged as collateral. Financial instruments received or pledged as collateral offset derivative counterparty risk exposure, but do not reduce net balance sheet exposure.
Other Assets	The following table presents the components of Other Assets: September 30, December 31, 2023 2022 Furniture, Equipment and Leasehold Improvements  $ 908,676  $ 748,334 Less: Accumulated Depreciation (372,231 ) (336,621 ) Furniture, Equipment and Leasehold Improvements, Net 536,445 411,713 Prepaid Expenses 190,392 165,079 Freestanding Derivatives 222,003 202,677 Other 23,229 20,989  $   972,069  $   800,458

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2023
Carrying Value and Fair Value of Blackstone Issued Notes	The following table presents each of Blackstone’s borrowings as of September 30, 2023 and December 31, 2022, as well as their carrying value and fair value. The borrowings are included in Loans Pa ya September 30, 2023 December 31, 2022 Carrying Fair Carrying Fair Description Value Value Value Value Blackstone Operating Borrowings Senior Notes (a) 4.750%, Due 2/15/2023  $ —  $ —  $ 399,838  $ 399,776 2.000%, Due 5/19/2025 321,745 305,197 325,292 305,754 1.000%, Due 10/5/2026 635,870 578,320 642,968 568,525 3.150%, Due 10/2/2027 298,381 272,340 298,101 271,284 5.900%, Due 11/3/2027 595,147 600,144 594,381 606,450 1.625%, Due 8/5/2028 645,167 536,621 644,456 530,933 1.500%, Due 4/10/2029 638,389 543,816 645,819 532,043 2.500%, Due 1/10/2030 493,328 407,660 492,604 405,965 1.600%, Due 3/30/2031 496,332 363,495 495,990 365,380 2.000%, Due 1/30/2032 788,978 585,423 788,082 589,407 2.550%, Due 3/30/2032 495,553 380,395 495,207 390,370 6.200%, Due 4/22/2033 891,740 896,382 891,277 907,965 3.500%, Due 6/1/2034 499,022 459,952 504,695 452,934 6.250%, Due 8/15/2042 239,385 229,193 239,176 251,480 5.000%, Due 6/15/2044 489,906 408,990 489,704 441,355 4.450%, Due 7/15/2045 344,655 260,946 344,549 287,242 4.000%, Due 10/2/2047 291,095 205,593 290,935 227,946 3.500%, Due 9/10/2049 392,391 252,984 392,259 275,588 2.800%, Due 9/30/2050 394,067 217,988 393,958 237,552 2.850%, Due 8/5/2051 543,278 304,695 543,162 323,527 3.200%, Due 1/30/2052 987,333 599,690 987,131 646,880 10,481,762 8,409,824 10,899,584 9,018,356 Other (b) Secured Borrowing, Due 10/27/2033 19,966 19,966 — — Secured Borrowing, Due 1/29/2035 20,000 20,000 — — 10,521,728 8,449,790 10,899,584 9,018,356 Borrowings of Consolidated Blackstone Funds Blackstone Fund Facilities (c) 1,364,253 1,364,253 1,450,000 1,450,000 CLO Notes Payable (d) 225,396 225,396 — — 1,589,649 1,589,649 1,450,000 1,450,000  $ 12,111,377  $ 10,039,439  $ 12,349,584  $ 10,468,356 (a) Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy. (b) The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.66% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72%. Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing. (c) Blackstone Fund Facilities represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Borrowings bear interest at spreads to market rates or at stated fixed rates that can vary over the borrowing term. Interest may be subject to the performance of the assets within the fund and therefore, the stated interest rate and effective interest rate may differ. (d) CLO Notes Payable are due 10/15/2029 and have an effective interest rate of 7.90% as of September 30, 2023.
Scheduled Principal Payments for Borrowings	Scheduled principal payments for borrowings as of September 30, 2023 were as follows: Blackstone  Borrowings of  Operating  Borrowings  Consolidated Blackstone Funds Total  Borrowings  2023  $ 34  $ —  $ 34 2024 — — — 2025 325,413 — 325,413 2026 640,427 — 640,427 2027 911,572 — 911,572 Thereafter 8,777,120 1,685,566 10,462,686  $ 10,654,566  $ 1,685,566  $ 12,340,132

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Schedule of Major Filing Jurisdictions and Open Period Subject to Examinations	As of September 30, 2023, the following are the major filing jurisdictions and their respective earliest open tax period subject to examination: Jurisdiction Year Federal 2019 New York City 2009 New York State 2016 United Kingdom 2011

Earnings Per Share and Stockh_2

Earnings Per Share and Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Basic and Diluted Net Income Per Common Stock	Earnings Per Share Basic and diluted net income per share of common stock for the three and nine months ended September 30, 2023 and 2022 was calculated as follows: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Net Income for Per Share of Common Stock Calculations Net Income Attributable to Blackstone Inc., Basic and Diluted  $ 551,994  $ 2,296  $ 1,239,080  $ 1,189,777 Shares/Units Outstanding Weighted-Average Shares of Common Stock Outstanding, Basic 757,958,602 742,345,646 754,211,390 739,963,370 Weighted-Average Shares of Unvested Deferred Restricted Common Stock 87,494 149,886 244,936 308,877 Weighted-Average Shares of Common Stock Outstanding, Diluted  758,046,096  742,495,532  754,456,326  740,272,247 Net Income Per Share of Common Stock Basic  $ 0.73  $ —  $ 1.64  $ 1.61 Diluted  $ 0.73  $ —  $ 1.64  $ 1.61 Dividends Declared Per Share of Common Stock (a)  $ 0.79  $ 1.27  $ 2.52  $ 4.04 (a) Dividends declared reflects the calendar date of the declaration for each distribution.
Summary of Anti-Dilutive Securities	The following table summarizes the anti-dilutive securities for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Weighted-Average Blackstone Holdings Partnership Units 460,160,593 465,522,745 461,549,778 466,703,389
Schedule of Shares Eligible For Dividends and Distribution	As of September 30, 2023, the total shares of common stock and Blackstone Holdings Partnership Units entitled to participate in dividends and distributions were as follows: Shares/Units Common Stock Outstanding 718,442,863 Unvested Participating Common Stock 39,338,248 Total Participating Common Stock 757,781,111 Participating Blackstone Holdings Partnership Units 459,651,045  1,217,432,156

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Summary of Status of Partnership's Unvested Equity-Based Awards	A summary of the status of Blackstone’s unvested equity-based awards as of September 30, 2023 and of changes during the period January 1, 2023 through September 30, 2023 is presented below: Blackstone Holdings Blackstone Inc. Equity Settled Awards Cash Settled Awards Weighted- Weighted- Weighted- Average Deferred Average Average Partnership Grant Date Restricted Shares Grant Date Phantom Grant Date Unvested Shares/Units Units Fair Value of Common Stock Fair Value Shares Fair Value Balance, December 31, 2022 11,029,996 $ 38.02 31,001,563 $ 82.94 48,886 $ 85.04 Granted — — 15,541,313 85.15 69,267 93.20 Vested (5,974,487 ) 37.49 (8,362,042 ) 73.81 (10,204 ) 99.50 Forfeited (48,299 ) 42.65 (602,684 ) 89.92 (18,866 ) 68.63 Balance, September 30, 2023 5,007,210 $ 38.69 37,578,150 $ 85.82 89,083 $ 104.62
Unvested Shares and Units, After Expected Forfeitures	The following unvested shares and units, after expected forfeitures, as of September 30, 2023, are expected to vest: Weighted- Average Service Period Shares/Units in Years Blackstone Holdings Partnership Units 4,916,949 1.1 Deferred Restricted Shares of Common Stock 32,867,925 3.1 Total Equity-Based Awards   37,784,874 2.9 Phantom Shares 73,413 3.2

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2023
Due from Affiliates and Due to Affiliates	Due from Affiliates and Due to Affiliates consisted of the following: September 30, December 31, 2023 2022 Due from Affiliates Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated  $ 3,555,322  $ 3,344,813 Due from Certain Non-Controlling 764,012 741,319 Accrual for Potential Clawback of Previously Distributed Performance Allocations 78,999 60,575  $ 4,398,333  $ 4,146,707 September 30, December 31, 2023 2022 Due to Affiliates Due to Certain Non-Controlling  $ 1,628,268  $ 1,602,933 Due to Non-Consolidated 106,972 157,982 Due to Certain Non-Controlling 230,713 198,875 Accrual for Potential Repayment of Previously Received Performance Allocations 222,271 158,691  $ 2,188,224  $ 2,118,481

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2023
Clawback Obligations by Segment	The following table presents the clawback obligations by segment: September 30, 2023 December 31, 2022 Current and Current and Blackstone Former Blackstone Former Segment Holdings Personnel (a) Total (b) Holdings Personnel (a) Total (b) Real Estate  $ 87,842  $ 54,506  $ 142,348  $ 78,644  $ 51,771  $ 130,415 Private Equity 38,384 24,235 62,619 19,279 8,569 27,848 Credit & Insurance 204 258 462 223 205 428 Hedge Fund Solutions 17,399 (557 ) 16,842 — — —  $ 143,829  $ 78,442  $ 222,271  $ 98,146  $ 60,545  $ 158,691 (a) The split of clawback between Blackstone Holdings and Current and Former Personnel is based on the performance of individual investments held by a fund rather than on a fund by fund basis. (b) Total is a component of Due to Affiliates. See Note 16. “Related Party Transactions — Affiliate Receivables and Payables — Due to Affiliates.”

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2023
Financial Data of Segments	The following tables present the financial data for Blackstone’s four segments for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 697,561   $ 457,008   $ 333,828   $ 131,346   $ 1,619,743 Transaction, Advisory and Other Fees, Net 10,686 21,780 10,362 1,783 44,611 Management Fee Offsets (7,616 ) (1,982 ) (898 ) (18 ) (10,514 ) Total Management and Advisory Fees, Net 700,631 476,806 343,292 133,111 1,653,840 Fee Related Performance Revenues 127,841 — 146,710 — 274,551 Fee Related Compensation (199,384 ) (145,987 ) (148,056 ) (46,496 ) (539,923 ) Other Operating Expenses (83,074 ) (78,547 ) (76,147 ) (26,677 ) (264,445 ) Fee Related Earnings 546,014 252,272 265,799 59,938 1,124,023 Realized Performance Revenues 17,419 299,272 14,349 6,900 337,940 Realized Performance Compensation (7,813 ) (117,814 ) (5,451 ) (2,917 ) (133,995 ) Realized Principal Investment Income 1,565 22,497 29,213 2,225 55,500 Total Net Realizations 11,171 203,955 38,111 6,208 259,445 Total Segment Distributable Earnings   $ 557,185   $ 456,227   $ 303,910   $ 66,146   $ 1,383,468 Three Months Ended September 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 610,606   $ 466,474   $ 312,663   $ 138,818   $ 1,528,561 Transaction, Advisory and Other Fees, Net 54,342 24,313 10,629 581 89,865 Management Fee Offsets (1,842 ) (3,634 ) (1,323 ) (57 ) (6,856 ) Total Management and Advisory Fees, Net 663,106 487,153 321,969 139,342 1,611,570 Fee Related Performance Revenues 260,003 — 112,128 — 372,131 Fee Related Compensation (239,572 ) (142,381 ) (135,420 ) (40,895 ) (558,268 ) Other Operating Expenses (74,701 ) (76,138 ) (68,696 ) (26,599 ) (246,134 ) Fee Related Earnings 608,836 268,634 229,981 71,848 1,179,299 Realized Performance Revenues 142,794 309,326 12,459 4,430 469,009 Realized Performance Compensation (33,464 ) (164,531 ) (4,992 ) (3,237 ) (206,224 ) Realized Principal Investment Income 45,297 38,015 46,993 9,460 139,765 Total Net Realizations 154,627 182,810 54,460 10,653 402,550 Total Segment Distributable Earnings   $ 763,463   $ 451,444   $ 284,441   $ 82,501   $ 1,581,849 The following tables present the financial data for Blackstone’s four segments as of September 30, 2023 and for the nine months ended September 30, 2023 and 2022: September 30, 2023 and the Nine Months Then Ended Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 2,112,925   $ 1,351,630   $ 995,915   $ 399,429   $ 4,859,899 Transaction, Advisory and Other Fees, Net 58,313 85,389 33,815 5,539 183,056 Management Fee Offsets (26,380 ) (4,058 ) (3,055 ) (49 ) (33,542 ) Total Management and Advisory Fees, Net 2,144,858 1,432,961 1,026,675 404,919 5,009,413 Fee Related Performance Revenues 279,888 — 409,645 — 689,533 Fee Related Compensation (536,000 ) (463,293 ) (480,289 ) (138,120 ) (1,617,702 ) Other Operating Expenses (229,204 ) (229,713 ) (231,760 ) (82,782 ) (773,459 ) Fee Related Earnings 1,659,542 739,955 724,271 184,017 3,307,785 Realized Performance Revenues 148,236 945,770 181,874 92,009 1,367,889 Realized Performance Compensation (80,571 ) (413,389 ) (79,794 ) (34,635 ) (608,389 ) Realized Principal Investment Income 3,719 59,353 15,866 12,792 91,730 Total Net Realizations 71,384 591,734 117,946 70,166 851,230 Total Segment Distributable Earnings   $ 1,730,926   $ 1,331,689   $ 842,217   $ 254,183   $ 4,159,015 Segment Assets   $ 13,683,819   $ 14,152,032   $ 6,683,449   $ 2,516,441   $ 37,035,741 Nine Months Ended September 30, 2022 Real Private Credit & Hedge Fund Total Estate Equity Insurance Solutions Segments Management and Advisory Fees, Net Base Management Fees   $ 1,802,543   $ 1,321,405   $ 911,697   $ 428,941   $ 4,464,586 Transaction, Advisory and Other Fees, Net 141,801 64,522 27,143 5,500 238,966 Management Fee Offsets (3,491 ) (53,933 ) (4,107 ) (166 ) (61,697 ) Total Management and Advisory Fees, Net 1,940,853 1,331,994 934,733 434,275 4,641,855 Fee Related Performance Revenues 1,017,027 (648 ) 260,410 — 1,276,789 Fee Related Compensation (858,307 ) (446,053 ) (399,799 ) (145,993 ) (1,850,152 ) Other Operating Expenses (229,033 ) (227,115 ) (189,745 ) (75,849 ) (721,742 ) Fee Related Earnings 1,870,540 658,178 605,599 212,433 3,346,750 Realized Performance Revenues 2,943,430 882,448 122,175 40,540 3,988,593 Realized Performance Compensation (1,154,897 ) (428,614 ) (54,487 ) (14,320 ) (1,652,318 ) Realized Principal Investment Income 128,388 112,357 76,793 22,831 340,369 Total Net Realizations 1,916,921 566,191 144,481 49,051 2,676,644 Total Segment Distributable Earnings   $ 3,787,461   $ 1,224,369   $ 750,080   $ 261,484   $ 6,023,394
Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes	The following tables reconcile the Total Segment Revenues, Expenses and Distributable Earnings to their equivalent GAAP measure for the three and nine months ended September 30, 2023 and 2022 along with Total Assets as of September 30, 2023: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Revenues Total GAAP Revenues   $ 2,541,285   $ 1,058,114   $ 6,737,821   $ 6,813,614 Less: Unrealized Performance Revenues (a) 63,209 771,637 708,146 2,946,255 Less: Unrealized Principal Investment (Income) Loss (b) (84,780 ) 996,105 233,638 1,172,635 Less: Interest and Dividend Revenue (c) (113,904 ) (57,462 ) (362,245 ) (178,090 ) Less: Other Revenue (d) (63,748 ) (198,546 ) (17,850 ) (427,069 ) Impact of Consolidation (e) (20,389 ) 23,373 (139,784 ) (79,124 ) Transaction-Related and Non-Recurring (420 ) (1,264 ) (3,093 ) (2,714 ) Intersegment Eliminations 578 518 1,932 2,099 Total Segment Revenue (g)   $ 2,321,831   $ 2,592,475   $ 7,158,565   $ 10,247,606 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Expenses Total GAAP Expenses   $ 1,374,905   $ 961,361   $ 4,039,560   $ 3,902,496 Less: Unrealized Performance Allocations Compensation (h) (11,866 ) 359,590 247,228 1,273,849 Less: Equity-Based Compensation (i) (255,616 ) (190,197 ) (773,505 ) (587,386 ) Less: Interest Expense (j) (110,014 ) (80,312 ) (321,353 ) (216,339 ) Impact of Consolidation (e) (43,172 ) (14,125 ) (140,725 ) (33,325 ) Amortization of Intangibles (k) (7,357 ) (13,238 ) (26,110 ) (47,326 ) Transaction-Related and Non-Recurring (6,670 ) (10,511 ) (20,192 ) (62,435 ) Administrative Fee Adjustment (l) (2,425 ) (2,460 ) (7,285 ) (7,421 ) Intersegment Eliminations 578 518 1,932 2,099 Total Segment Expenses (m)   $ 938,363   $ 1,010,626   $ 2,999,550   $ 4,224,212 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Other Income Total GAAP Other Income (Loss)   $ (49,078 )   $ 1,178   $ 104,373   $ (51,524 ) Impact of Consolidation (e) 49,078 (1,178 ) (104,373 ) 51,524 Total Segment Other Income   $ —   $ —   $ —   $ — Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Income Before Provision for Taxes Total GAAP Income Before Provision for Taxes   $ 1,117,302   $ 97,931   $ 2,802,634   $ 2,859,594 Less: Unrealized Performance Revenues (a) 63,209 771,637 708,146 2,946,255 Less: Unrealized Principal Investment (Income) Loss (b) (84,780 ) 996,105 233,638 1,172,635 Less: Interest and Dividend Revenue (c) (113,904 ) (57,462 ) (362,245 ) (178,090 ) Less: Other Revenue (d) (63,748 ) (198,546 ) (17,850 ) (427,069 ) Plus: Unrealized Performance Allocations Compensation (h) 11,866 (359,590 ) (247,228 ) (1,273,849 ) Plus: Equity-Based Compensation (i) 255,616 190,197 773,505 587,386 Plus: Interest Expense (j) 110,014 80,312 321,353 216,339 Impact of Consolidation (e) 71,861 36,320 (103,432 ) 5,725 Amortization of Intangibles (k) 7,357 13,238 26,110 47,326 Transaction-Related and Non-Recurring 6,250 9,247 17,099 59,721 Administrative Fee Adjustment (l) 2,425 2,460 7,285 7,421 Total Segment Distributable Earnings   $ 1,383,468   $ 1,581,849   $ 4,159,015   $ 6,023,394 As of  September 30,  2023 Total Assets Total GAAP Assets   $ 41,663,823 Impact of Consolidation (e) (4,628,082 ) Total Segment Assets   $ 37,035,741 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 and Non-Recurring (a) This adjustment removes Unrealized Performance Revenues on a segment basis. (b) This adjustment removes Unrealized Principal Investment Income (Loss) on a segment basis. (c) This adjustment removes Interest and Dividend Revenue on a segment basis. (d) This adjustment removes Other Revenue on a segment basis. For the three months ended September 30, 2023 and 2022, Other Revenue on a GAAP basis was $63.8 million and $199.4 million, and included $63.2 million and $198.4 million of foreign exchange gains (losses), respectively. For the nine months ended September 30, 2023 and 2022, Other Revenue on a GAAP basis was $18.0 million and $427.8 million, and included $16.4 million and $426.7 million of foreign exchange gains (losses), respectively. (e) This adjustment reverses the effect of consolidating Blackstone Funds, which are excluded from Blackstone’s segment presentation. This adjustment includes the elimination of Blackstone’s interest in these funds, the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling (f) This adjustment removes Transaction-Related and Non-Recurring Non-Recurring non-recurring non-recurring period-to-period (g) Total Segment Revenues is comprised of the following: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Total Segment Management and Advisory Fees, Net   $ 1,653,840   $ 1,611,570   $ 5,009,413   $ 4,641,855 Total Segment Fee Related Performance Revenues 274,551 372,131 689,533 1,276,789 Total Segment Realized Performance Revenues 337,940 469,009 1,367,889 3,988,593 Total Segment Realized Principal Investment Income 55,500 139,765 91,730 340,369 Total Segment Revenues   $ 2,321,831   $ 2,592,475   $ 7,158,565   $ 10,247,606 (h) This adjustment removes Unrealized Performance Allocations Compensation. (i) This adjustment removes Equity-Based Compensation on a segment basis. (j) This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement. (k) This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation. (l) This adjustment adds an amount equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units. The administrative fee is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation. (m) Total Segment Expenses is comprised of the following: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Total Segment Fee Related Compensation   $ 539,923   $ 558,268   $ 1,617,702   $ 1,850,152 Total Segment Realized Performance Compensation 133,995 206,224 608,389 1,652,318 Total Segment Other Operating Expenses 264,445 246,134 773,459 721,742 Total Segment Expenses   $ 938,363   $ 1,010,626   $ 2,999,550   $ 4,224,212
Reconciliation of Total Segments to Reported on the Consolidated Statements of Operations	The following tables reconcile the components of Total Segments to their equivalent GAAP measures, reported on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Management and Advisory Fees, Net GAAP   $ 1,655,443   $ 1,617,754   $ 5,023,128   $ 4,654,877 Segment Adjustment (a) (1,603 ) (6,184 ) (13,715 ) (13,022 ) Total Segment   $ 1,653,840   $ 1,611,570   $ 5,009,413   $ 4,641,855 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 GAAP Realized Performance Revenues to Total Segment Fee Related Performance Revenues GAAP Incentive Fees   $ 158,801   $ 110,776   $ 454,754   $ 314,863 Investment Income - Realized Performance Allocations 453,690 725,888 1,602,668 4,946,043 GAAP 612,491 836,664 2,057,422 5,260,906 Total Segment Less: Realized Performance Revenues (337,940 ) (469,009 ) (1,367,889 ) (3,988,593 ) Segment Adjustment (b) — 4,476 — 4,476 Total Segment   $ 274,551   $ 372,131   $ 689,533   $ 1,276,789 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 GAAP Compensation to Total Segment Fee Related Compensation GAAP Compensation   $ 700,268   $ 600,273   $ 2,153,570   $ 1,942,790 Incentive Fee Compensation 65,432 50,355 192,940 136,737 Realized Performance Allocations Compensation 168,620 313,930 670,610 2,067,447 GAAP 934,320 964,558 3,017,120 4,146,974 Total Segment Less: Realized Performance Compensation (133,995 ) (206,224 ) (608,389 ) (1,652,318 ) Less: Equity-Based Compensation - Fee Related Compensation (252,928 ) (187,873 ) (764,527 ) (580,029 ) Less: Equity-Based Compensation - Performance Compensation (2,688 ) (2,324 ) (8,978 ) (7,357 ) Segment Adjustment (c) (4,786 ) (9,869 ) (17,524 ) (57,118 ) Total Segment   $ 539,923   $ 558,268   $ 1,617,702   $ 1,850,152 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 GAAP General, Administrative and Other to Total Segment Other Operating Expenses GAAP   $ 279,186   $ 270,369   $ 827,614   $ 800,331 Segment Adjustment (d) (14,741 ) (24,235 ) (54,155 ) (78,589 ) Total Segment   $ 264,445   $ 246,134   $ 773,459   $ 721,742 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Performance Revenues GAAP Incentive Fees   $ 158,801   $ 110,776   $ 454,754   $ 314,863 Investment Income - Realized Performance Allocations 453,690 725,888 1,602,668 4,946,043 GAAP 612,491 836,664 2,057,422 5,260,906 Total Segment Less: Fee Related Performance Revenues (274,551 ) (372,131 ) (689,533 ) (1,276,789 ) Segment Adjustment (b) — 4,476 — 4,476 Total Segment   $ 337,940   $ 469,009   $ 1,367,889   $ 3,988,593 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Performance Compensation GAAP Incentive Fee Compensation  $ 65,432  $ 50,355  $ 192,940  $ 136,737 Realized Performance Allocation Compensation 168,620 313,930 670,610 2,067,447 GAAP 234,052 364,285 863,550 2,204,184 Total Segment Less: Fee Related Performance Compensation (e) (97,369 ) (155,737 ) (246,183 ) (544,509 ) Less: Equity-Based Compensation - Performance Compensation (2,688 ) (2,324 ) (8,978 ) (7,357 ) Total Segment  $ 133,995  $ 206,224  $ 608,389  $ 1,652,318 Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Realized Principal Investment Income GAAP  $ 94,313  $ 193,228  $ 257,206  $ 743,493 Segment Adjustment (f) (38,813 ) (53,463 ) (165,476 ) (403,124 ) Total Segment  $ 55,500  $ 139,765  $ 91,730  $ 340,369 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 and Non-Recurring (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 and Non-Recurring (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

Organization - Additional Infor

Organization - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 Segment	Sep. 30, 2022 Segment	Sep. 30, 2023 Segment Person	Sep. 30, 2022 Segment
Organization [Line Items]
Number of business segments | Segment	4	4	4	4
Number of Blackstone founders managing the Partnership | Person			1

Intangible Assets, Net (Detail)

Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets/Contractual Rights	$ 1,769,372	$ 1,745,376
Accumulated Amortization	(1,559,162)	(1,528,089)
Intangible Assets, Net	$ 210,210	$ 217,287

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets [Line Items]
Amortization Expense	$ 9,000	$ 14,900	$ 31,073	$ 52,288
Expected amortization of intangibles, 2023	40,100		40,100
Expected amortization of intangibles, 2024	35,900		35,900
Expected amortization of intangibles, 2025	35,900		35,900
Expected amortization of intangibles, 2026	35,700		35,700
Expected amortization of intangibles, 2027	$ 34,600		$ 34,600
Intangible assets expected to amortize over a weighted-average period	6 years 4 months 24 days		6 years 4 months 24 days

Investments (Detail)

Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Investments	$ 27,339,857	$ 27,553,251
Partnership Investments
Schedule of Investments [Line Items]
Investments	5,588,222	5,530,419
Accrued Performance Allocations
Schedule of Investments [Line Items]
Investments	11,606,901	12,360,684
Other Investments
Schedule of Investments [Line Items]
Investments	4,157,115	3,471,642
Consolidated Blackstone Funds
Schedule of Investments [Line Items]
Investments	5,224,104	5,136,966
Corporate Treasury Investments
Schedule of Investments [Line Items]
Investments	$ 763,515	$ 1,053,540

Investments - Additional Inform

Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Schedule of Investments [Line Items]
Investments	$ 27,339,857		$ 27,339,857		$ 27,553,251
Recognized net gains (losses) related to equity method investments	48,100	$ 19,800	208,600	$ 217,400
Equity investments, carrying value	380,200		$ 380,200
Investment Maturity Terms			five years
Consolidated Blackstone Funds | Blackstone
Schedule of Investments [Line Items]
Investments	$ 266,300		$ 266,300		$ 393,900

Reconciliation of Realized and

Reconciliation of Realized and Net Change in Unrealized Gains (Losses) to Other Income (Loss) - Net Gains (Losses) from Fund Investment Activities in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gain (Loss) on Securities [Line Items]
Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds	$ 554,139	$ (922,218)	$ 893,865	$ 1,247,055
Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds	109,133	52,420	348,123	168,980
Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities	(49,078)	1,178	102,486	(52,272)
Consolidated Blackstone Funds
Gain (Loss) on Securities [Line Items]
Realized Gains (Losses)	(2,624)	17,083	18,184	128,952
Net Change in Unrealized Gains (Losses)	(19,145)	(30,603)	21,805	(216,198)
Realized and Net Change in Unrealized Gains (Losses) from Consolidated Blackstone Funds	(21,769)	(13,520)	39,989	(87,246)
Interest and Dividend Revenue and Foreign Exchange Gains Attributable to Consolidated Blackstone Funds	(27,309)	14,698	62,497	34,974
Other Income (Loss) – Net Gains (Losses) from Fund Investment Activities	$ (49,078)	$ 1,178	$ 102,486	$ (52,272)

Performance Fees Allocated to F

Performance Fees Allocated to Funds (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	$ 27,553,251
Ending Balance	27,339,857
Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	12,360,684
Performance Allocations as a Result of Changes in Fund Fair Values	926,178
Foreign Exchange Loss	(512)
Fund Distributions	(1,679,449)
Ending Balance	11,606,901
Real Estate Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	5,334,117
Performance Allocations as a Result of Changes in Fund Fair Values	(771,235)
Foreign Exchange Loss	(512)
Fund Distributions	(686,861)
Ending Balance	3,875,509
Private Equity Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	6,037,575
Performance Allocations as a Result of Changes in Fund Fair Values	1,441,800
Fund Distributions	(701,561)
Ending Balance	6,777,814
Credit & Insurance Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	569,898
Performance Allocations as a Result of Changes in Fund Fair Values	169,754
Fund Distributions	(204,937)
Ending Balance	534,715
Hedge Fund Solutions Segment | Performance Fees
Schedule of Performance Fees and Allocations to the General Partner [Line Items]
Beginning Balance	419,094
Performance Allocations as a Result of Changes in Fund Fair Values	85,859
Fund Distributions	(86,090)
Ending Balance	$ 418,863

Realized and Net Change in Unre

Realized and Net Change in Unrealized Gains (Losses) on Investments Held by Blackstone's Treasury Cash Management Strategies (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gain (Loss) on Securities [Line Items]
Total realized and net change in unrealized gains (losses)	$ 554,139	$ (922,218)	$ 893,865	$ 1,247,055
Corporate Treasury Investments
Gain (Loss) on Securities [Line Items]
Realized Losses	(2,283)	(2,857)	(2,206)	(23,474)
Net Change in Unrealized Gains (Losses)	(7,425)	(16,196)	1,161	(63,779)
Total realized and net change in unrealized gains (losses)	$ (9,708)	$ (19,053)	$ (1,045)	$ (87,253)

Realized and Net Change in Un_2

Realized and Net Change in Unrealized Gains (Losses) in Other Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gain (Loss) on Securities [Line Items]
Total Investment Income (Loss)	$ 554,139	$ (922,218)	$ 893,865	$ 1,247,055
Other Investments
Gain (Loss) on Securities [Line Items]
Realized Gains (Losses)	2,305	83,269	(13,880)	200,610
Net Change in Unrealized Gains (Losses)	149,851	(970,654)	(5,334)	(1,121,924)
Total Investment Income (Loss)	$ 152,156	$ (887,385)	$ (19,214)	$ (921,314)

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	Sep. 30, 2023 USD ($)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 570,585
Equity
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	447,923
Real Estate
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	115,850
Credit Driven
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	5,758
Commodities
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	1,038
Diversified Instruments
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value	$ 16

Summary of Fair Value by Stra_2

Summary of Fair Value by Strategy Type Alongside Consolidated Funds of Hedge Funds' Remaining Unfunded Commitments and Ability to Redeem Such Investments (Parenthetical) (Detail) - Equity	Sep. 30, 2023
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of investments unable to be redeemed at, or within 3 months of reporting date	39%
Percentage of investments redeemable as of reporting date	61%

Summary of Aggregate Notional A

Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	$ 1,763,949	$ 2,306,770
Derivative Liabilities, Notional	2,190,864	1,822,967
Derivative Assets, Fair Value	295,123	277,603
Derivative Liabilities, Fair Value	390,099	137,047
Freestanding Derivatives
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	819,679	931,752
Derivative Liabilities, Notional		5,133
Derivative Assets, Fair Value	73,120	74,926
Derivative Liabilities, Fair Value		284
Freestanding Derivatives | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	944,270	1,375,018
Derivative Liabilities, Notional	2,190,864	1,817,834
Derivative Assets, Fair Value	222,003	202,677
Derivative Liabilities, Fair Value	390,099	136,763
Freestanding Derivatives | Blackstone | Total Return Swaps
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	31,916	42,233
Derivative Assets, Fair Value	4,349	6,210
Freestanding Derivatives | Blackstone | Credit Default Swap
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	3,108	2,007
Derivative Liabilities, Notional	3,748	8,768
Derivative Assets, Fair Value	589	384
Derivative Liabilities, Fair Value	616	1,309
Freestanding Derivatives | Foreign Currency Contracts | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	140,256	541,238
Derivative Liabilities, Notional	427,596	190,774
Derivative Assets, Fair Value	3,328	8,040
Derivative Liabilities, Fair Value	10,042	3,542
Freestanding Derivatives | Foreign Currency Contracts | Consolidated Blackstone Funds
Derivatives, Fair Value [Line Items]
Derivative Liabilities, Notional		5,133
Derivative Liabilities, Fair Value		284
Freestanding Derivatives | Interest Rate Contracts | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	768,990	789,540
Derivative Liabilities, Notional	604,200	621,700
Derivative Assets, Fair Value	213,737	188,043
Derivative Liabilities, Fair Value	119,274	83,331
Freestanding Derivatives | Interest Rate Contracts | Consolidated Blackstone Funds
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	819,679	931,752
Derivative Assets, Fair Value	73,120	74,926
Freestanding Derivatives | Equity Options | Blackstone
Derivatives, Fair Value [Line Items]
Derivative Liabilities, Notional	1,155,320	996,592
Derivative Liabilities, Fair Value	$ 260,167	$ 48,581

Summary of Impact of Derivative

Summary of Impact of Derivative Financial Instruments to Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Unrealized Gain (Loss) on Derivatives and Commodity Contracts	$ (41,770)	$ 97,073	$ (200,738)	$ 202,355
Freestanding Derivatives
Derivative [Line Items]
Realized Gains (Losses)	2,577	5,419	23,359	6,050
Net Change in Unrealized Gains (Losses)	(44,347)	91,654	(224,097)	196,305
Freestanding Derivatives | Total Return Swaps
Derivative [Line Items]
Realized Gains (Losses)	3,436		14,461
Net Change in Unrealized Gains (Losses)	884	526	(1,293)	526
Freestanding Derivatives | Credit Default Swap
Derivative [Line Items]
Realized Gains (Losses)		(115)	(413)	13
Net Change in Unrealized Gains (Losses)	2	131	366	(289)
Freestanding Derivatives | Interest Rate Contracts
Derivative [Line Items]
Realized Gains (Losses)	2,213	7,740	2,360	13,018
Net Change in Unrealized Gains (Losses)	(3,148)	113,623	(371)	221,300
Freestanding Derivatives | Foreign Currency Contracts
Derivative [Line Items]
Realized Gains (Losses)	(3,072)	(2,206)	6,951	(6,981)
Net Change in Unrealized Gains (Losses)	(3,375)	$ (22,626)	(11,213)	$ (25,232)
Freestanding Derivatives | Equity Options
Derivative [Line Items]
Net Change in Unrealized Gains (Losses)	$ (38,710)		$ (211,586)

Summary of Financial Instrument

Summary of Financial Instruments for Which Fair Value Option Has Been Elected (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans and Receivables	$ 79,339	$ 315,039
Assets	2,862,700	2,208,015
Liabilities	226,954	8,144
Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments	63,776	24,784
Equity and Preferred Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments	2,530,474	1,868,192
Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	189,111	0
CLO Notes Payable
Fair Value, Option, Quantitative Disclosures [Line Items]
Liabilities	225,396	0
Corporate Treasury Commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Liabilities	$ 1,558	$ 8,144

Realized and Net Change in Un_3

Realized and Net Change in Unrealized Gains (Losses) on Financial Instruments on Financial Instruments on Which Fair Value Option was Elected (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Realized Gains (Losses) | Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments		$ (5,056)		$ (9,423)
Realized Gains (Losses) | Assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	$ (67)	(4,583)	$ (13,443)	(66)
Realized Gains (Losses) | Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(520)	(3,246)	(6,515)	(6,663)
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	406	3,719	(776)	16,020
Realized Gains (Losses) | Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	47		(6,152)
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	(904)	(4,418)	(3,611)	(32,627)
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	11,743	(48,669)	(709)	(95,175)
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	406	1,050	4,330	(4,309)
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	1,306	(1,175)	6,602	(9,236)
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	11,538	(45,301)	(6,763)	(58,239)
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	703		5,335
Net Change In Unrealized Gains (Losses) | CLO Notes Payable
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	(907)		16
Net Change In Unrealized Gains (Losses) | Corporate Treasury Commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Realized and net change in unrealized gains (losses) on financial instruments	$ 2,213	$ (1,175)	$ 6,586	$ (9,236)

Information for Financial Instr

Information for Financial Instruments on Which Fair Value Option was Elected (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
(Deficiency) of fair value over uncollected principal	$ (62,061)	$ (51,531)
Fair value of financial instruments more than one day past due	1,338
Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
(Deficiency) of fair value over uncollected principal	(7,303)	0
Fair value of financial instruments more than one day past due	1,338	0
Debt Securities
Fair Value, Option, Quantitative Disclosures [Line Items]
(Deficiency) of fair value over uncollected principal	(54,292)	(48,670)
Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
(Deficiency) of fair value over uncollected principal	(466)	(2,861)
Fair value of financial instruments more than one day past due	$ 0	$ 0

Fair Value Option - Additional

Fair Value Option - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of financial instruments more than one day past due	$ 1,338
Corporate Loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of financial instruments more than one day past due	1,338	$ 0
Loans and Receivables
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value of financial instruments more than one day past due	0	0
Fair value of financial instruments with non-accrual status	$ 0	$ 0

Financial Assets and Liabilitie

Financial Assets and Liabilities at Fair Value (Detail) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts Receivable - Loans and Receivables		$ 79,339	$ 315,039
Assets		2,862,700	2,208,015
Loans Payable - CLO Notes Payable		12,111,377	12,349,584
Corporate Treasury Commitments		$ 226,954	$ 8,144
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other Assets	Other Assets
Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives assets		$ 295,123	$ 277,603
Derivatives liabilities		129,931	88,182
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		4,410,912	4,628,104
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents		127,047	1,134,733
Total Investments		9,770,931	9,318,953
Accounts Receivable - Loans and Receivables		79,339	315,039
Assets		10,199,320	10,971,402
Loans Payable - CLO Notes Payable		225,396
Securities Sold, Not Yet Purchased		3,789	3,825
Contingent Consideration	[1]	800
Total Accounts Payable, Accrued Expenses and Other Liabilities		396,246	149,016
Liabilities		621,642	149,016
Fair Value, Measurements, Recurring | Corporate Treasury Commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate Treasury Commitments	[2]	1,558	8,144
Fair Value, Measurements, Recurring | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	390,099	136,763
Total Accounts Payable, Accrued Expenses and Other Liabilities			284
Fair Value, Measurements, Recurring | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		3,783,312	3,128,447
Fair Value, Measurements, Recurring | Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		570,585	602,693
Assets		570,585	602,693
Fair Value, Measurements, Recurring | Net Asset Value | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		6,812	5,985
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		5,224,104	5,136,966
Derivatives assets		222,003	202,677
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		73,120	74,926
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	4,940,226	4,954,280
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		210,758	107,760
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		563,773	596,708
Fair Value, Measurements, Recurring | Consolidated Blackstone Funds | Net Asset Value | Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	563,773	596,708
Fair Value, Measurements, Recurring | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		763,515	1,053,540
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents		127,047	1,134,733
Total Investments		1,543,108	1,601,901
Assets		1,670,909	2,736,913
Securities Sold, Not Yet Purchased		3,789	3,825
Total Accounts Payable, Accrued Expenses and Other Liabilities		3,838	3,846
Liabilities		3,838	3,846
Fair Value, Measurements, Recurring | Level 1 | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	49	21
Fair Value, Measurements, Recurring | Level 1 | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		1,458,415	1,473,611
Fair Value, Measurements, Recurring | Level 1 | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		7,855	12,024
Derivatives assets		754	279
Fair Value, Measurements, Recurring | Level 1 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	7,855	12,024
Fair Value, Measurements, Recurring | Level 1 | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		76,838	116,266
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		3,330,014	2,807,504
Assets		3,546,914	3,003,692
Loans Payable - CLO Notes Payable		225,396
Total Accounts Payable, Accrued Expenses and Other Liabilities		129,883	88,445
Liabilities		355,279	88,445
Fair Value, Measurements, Recurring | Level 2 | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	129,883	88,161
Total Accounts Payable, Accrued Expenses and Other Liabilities			284
Fair Value, Measurements, Recurring | Level 2 | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		2,247,894	1,597,696
Fair Value, Measurements, Recurring | Level 2 | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		403,568	278,402
Derivatives assets		216,900	196,188
Fair Value, Measurements, Recurring | Level 2 | Consolidated Blackstone Funds | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		73,120	74,926
Fair Value, Measurements, Recurring | Level 2 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	130,881	149,689
Fair Value, Measurements, Recurring | Level 2 | Consolidated Blackstone Funds | Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		199,567	53,787
Fair Value, Measurements, Recurring | Level 2 | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		678,552	931,406
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		4,327,224	4,306,855
Accounts Receivable - Loans and Receivables		79,339	315,039
Assets		4,410,912	4,628,104
Contingent Consideration	[1]	800
Total Accounts Payable, Accrued Expenses and Other Liabilities		262,525	56,725
Liabilities		262,525	56,725
Fair Value, Measurements, Recurring | Level 3 | Corporate Treasury Commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate Treasury Commitments	[2]	1,558	8,144
Fair Value, Measurements, Recurring | Level 3 | Freestanding Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives liabilities	[3]	260,167	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		70,191	51,155
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		4,248,908	4,249,832
Derivatives assets		4,349	6,210
Assets		4,248,908	4,249,832
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments	[4]	4,237,717	4,195,859
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Debt Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		11,191	53,973
Fair Value, Measurements, Recurring | Level 3 | Corporate Treasury Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments		$ 8,125	$ 5,868
[1]Level III contingent consideration liabilities are valued using a discounted cash flow model where the significant inputs include the discount rates.[2]Corporate Treasury Commitments are measured using third party pricing.[3]Level III freestanding derivatives are valued using an option pricing model where the significant inputs include the expected return and expected volatility.[4]Equity Securities, Partnership and LLC Interest includes investments in investment funds.

Summary of Quantitative Inputs

Summary of Quantitative Inputs and Assumptions for Items Categorized in Level III of Fair Value Hierarchy (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 2,862,700	$ 2,208,015
Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,410,912	4,628,104
Fair Value, Measurements, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		10,199,320	10,971,402
Fair Value, Measurements, Recurring | Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,410,912	4,628,104
Fair Value, Measurements, Recurring | Level 3 | Loans and Receivables | Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 79,339	$ 315,039
Fair Value, Measurements, Recurring | Level 3 | Minimum | Loans and Receivables | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate		10.10%	7.60%
Fair Value, Measurements, Recurring | Level 3 | Maximum | Loans and Receivables | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate		12.40%	11.50%
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Loans and Receivables | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate	[1]	10.70%	9.80%
Fair Value, Measurements, Recurring | Level 3 | Other Investments | Transaction Price Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets	[2]		$ 57,365
Fair Value, Measurements, Recurring | Level 3 | Other Investments | Third Party Pricing Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets	[2]	$ 74,540
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		4,248,908	4,249,832
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Discounted Cash Flows
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 4,237,717	$ 4,195,859
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Minimum | EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA		4	4
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Minimum | Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate		1.60%	2.60%
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		2.50%	4.10%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Maximum | EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA		30.6	30.6
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Maximum | Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate		13%	14.40%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Maximum | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate		36%	34.50%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Weighted Average | EBITDA Multiple Market
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Multiple - EBITDA	[1]	14.9	14.7
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Weighted Average | Measurement Input, Cap Rate [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Exit Capitalization Rate	[1]	5%	4.70%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Equity Securities, Partnerships and LLC Interests | Weighted Average | Discounted Cash Flows | Measurement Input, Discount Rate
Fair Value, Option, Quantitative Disclosures [Line Items]
Unobservable inputs, rate	[1]	7.90%	8.80%
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Debt Instruments | Transaction Price Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets			$ 53,973
Fair Value, Measurements, Recurring | Level 3 | Consolidated Blackstone Funds | Debt Instruments | Other
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 11,191
Fair Value, Measurements, Recurring | Level 3 | Corporate Treasury Investments | Third Party Pricing Valuation Technique
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value assets		$ 8,125	$ 5,868
[1]Unobservable inputs were weighted based on the fair value of the investments included in the range.[2]As of September 30, 2023 and December 31, 2022, Other Investments includes Level III Freestanding Derivatives.

Summary of Changes in Financial

Summary of Changes in Financial Assets Measured at Fair Value for Which Level III Inputs Were Used (Detail) - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	$ 4,590,324	$ 3,364,520	$ 4,595,842	$ 1,637,034
Transfer In Due to Consolidation and Acquisition				1,535,171
Transfer Out Due to Deconsolidation			(3,837)
Transfer Into Level III	12,858	4,076	27,754	5,035
Transfer Out of Level III	(12,193)	(10,336)	(19,982)	(115,867)
Purchases	76,944	425,759	471,456	1,205,849
Sales	(76,620)	(219,504)	(636,525)	(694,772)
Issuances		6,437	57,008	30,336
Settlements	(7,506)	(12,122)	(65,291)	(34,140)
Changes in Gains (Losses) Included in Earnings	(179,314)	(153,268)	(21,932)	(163,084)
Balance, End of Period	4,404,493	3,405,562	4,404,493	3,405,562
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	(90,250)	(55,007)	(43,615)	(62,012)
Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	73,612	38,603	30,971	43,987
Transfer Into Level III		1,610	898	2,517
Transfer Out of Level III	(649)	(4,043)	(3,374)	(4,043)
Purchases	4,913	1,124	56,589	8,622
Sales	(1,573)	(51)	(3,258)	(2,864)
Settlements	(3,389)	566	(8,086)	566
Changes in Gains (Losses) Included in Earnings	3,332	1,577	2,506	(9,399)
Balance, End of Period	76,246	39,386	76,246	39,386
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	(1,891)	1,591	2,869	(9,476)
Loans and Receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	76,861	534,105	315,039	392,732
Purchases	28,823	229,502	200,791	674,286
Sales	(23,312)	(217,173)	(459,825)	(522,198)
Issuances		6,437	57,008	30,336
Settlements	(4,117)	(12,688)	(57,205)	(34,706)
Changes in Gains (Losses) Included in Earnings	1,084	3,214	23,531	2,947
Balance, End of Period	79,339	543,397	79,339	543,397
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	(52)	(3,010)	2,391	(10,940)
Consolidated Blackstone Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance, Beginning of Period	4,439,851	2,791,812	4,249,832	1,200,315
Transfer In Due to Consolidation and Acquisition				1,535,171
Transfer Out Due to Deconsolidation			(3,837)
Transfer Into Level III	12,858	2,466	26,856	2,518
Transfer Out of Level III	(11,544)	(6,293)	(16,608)	(111,824)
Purchases	43,208	195,133	214,076	522,941
Sales	(51,735)	(2,280)	(173,442)	(169,710)
Changes in Gains (Losses) Included in Earnings	(183,730)	(158,059)	(47,969)	(156,632)
Balance, End of Period	4,248,908	2,822,779	4,248,908	2,822,779
Changes in Unrealized Gains (Losses) Included in Earnings Related to Financial Assets Still Held at the Reporting Date	$ (88,307)	$ (53,588)	$ (48,875)	$ (41,596)

Maximum Exposure to Loss Relati

Maximum Exposure to Loss Relating to Non-Consolidated VIEs (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
VIE Assets	$ 41,663,823	$ 42,524,227
VIE Liabilities	22,853,102	22,843,160
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	3,543,222	3,900,835
Variable Interest Entity, Not Primary Beneficiary | Potential Clawback Obligation
Variable Interest Entity [Line Items]
VIE Liabilities	72,058	384,926
Variable Interest Entity, Not Primary Beneficiary | Amounts Due to NonConsolidated VIEs
Variable Interest Entity [Line Items]
VIE Liabilities	24	6
Variable Interest Entity, Not Primary Beneficiary | Investments
Variable Interest Entity [Line Items]
VIE Assets	3,286,386	3,326,669
Variable Interest Entity, Not Primary Beneficiary | Due from Affiliates
Variable Interest Entity [Line Items]
VIE Assets	$ 184,778	$ 189,240

Repurchase Agreements - Additio

Repurchase Agreements - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Securities Financing Transaction [Line Items]
Pledged securities with carrying value to collateralize its repurchase agreements	$ 0	$ 89,900
Amounts Related to Agreements Not Included in Offsetting Disclosure in Note 11. "Offsetting of Assets and Liabilities"	$ 0	$ 0

Schedule of Repurchase Agreemen

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

Offsetting of Assets and Liab_3

Offsetting of Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Offsetting Assets and Liabilities [Line Items]
Repurchase agreements gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	$ 0	$ 89,944
Repurchase agreements gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	0	89,944
Repurchase agreements gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	0	0
Repurchase agreements Net Amount	0	0
Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	129,931	178,126
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	120,633	175,310
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	616	1,345
Net Amount	8,682	1,471
Freestanding Derivatives
Offsetting Assets and Liabilities [Line Items]
Derivatives gross and Net Amounts of Assets Presented in the Statement of Financial Condition	295,123	277,603
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	194,042	165,897
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	86,991	96,436
Derivatives Net Amount	14,090	15,270
Derivatives gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition	129,931	88,182
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	120,633	85,366
Derivatives gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Received	616	1,345
Derivatives Net Amount	$ 8,682	$ 1,471

Offsetting Of Assets And Liab_4

Offsetting Of Assets And Liabilities - Additional Information (Detail) - Cash Pooling Arrangement $ in Millions	Sep. 30, 2023 USD ($)
Offsetting Assets [Line Items]
Aggregate cash balance on deposit relating to the cash pooling arrangement	$ 995.4
Overdraft facility	$ 995.3

Components of Other Assets (Det

Components of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Other Assets [Line Items]
Furniture, Equipment and Leasehold Improvements	$ 908,676	$ 748,334
Less: Accumulated Depreciation	(372,231)	(336,621)
Furniture, Equipment and Leasehold Improvements, Net	536,445	411,713
Prepaid Expenses	190,392	165,079
Freestanding Derivatives	222,003	202,677
Other	23,229	20,989
Total Other Assets	$ 972,069	$ 800,458

Borrowings - Additional Informa

Borrowings - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2023
Liabilities Of Consolidated Clo Vehicles Notes Payable [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 15, 2029
Debt instrument, interest rate	7.90%
Secured Borrowings One [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 27, 2033	[1]
Debt instrument, interest rate	7.66%
Secured Borrowings Two [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 29, 2035	[1]
Debt instrument, interest rate	3.72%
[1]The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.66% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72%. Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing.

Carrying Value and Fair Value o

Carrying Value and Fair Value of Blackstone Issued Notes (Detail) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Carrying Value		$ 12,111,377	$ 12,349,584
Debt instrument, fair value		10,039,439	10,468,356
Senior Secured Notes
Debt Instrument [Line Items]
Carrying Value	[1]	10,481,762	10,899,584
Debt instrument, fair value	[1]	8,409,824	9,018,356
Other [Member]
Debt Instrument [Line Items]
Carrying Value	[2]	10,521,728	10,899,584
Debt instrument, fair value	[2]	8,449,790	9,018,356
Borrowings of Consolidated Blackstone Funds [Member]
Debt Instrument [Line Items]
Carrying Value		1,589,649	1,450,000
Debt instrument, fair value		1,589,649	1,450,000
Borrowings of Consolidated Blackstone Funds [Member] | Liabilities Of Consolidated Clo Vehicles Notes Payable [Member]
Debt Instrument [Line Items]
Carrying Value	[3]	225,396	0
Debt instrument, fair value	[3]	225,396	0
Borrowings of Consolidated Blackstone Funds [Member] | Blackstone Fund Facilities [Member]
Debt Instrument [Line Items]
Carrying Value	[4]	1,364,253	1,450,000
Debt instrument, fair value	[4]	1,364,253	1,450,000
4.750% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	0	399,838
Debt instrument, fair value	[1]	0	399,776
2.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	321,745	325,292
Debt instrument, fair value	[1]	305,197	305,754
1.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	635,870	642,968
Debt instrument, fair value	[1]	578,320	568,525
3.150% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	298,381	298,101
Debt instrument, fair value	[1]	272,340	271,284
5.900% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	595,147	594,381
Debt instrument, fair value	[1]	600,144	606,450
1.625% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	645,167	644,456
Debt instrument, fair value	[1]	536,621	530,933
1.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	638,389	645,819
Debt instrument, fair value	[1]	543,816	532,043
2.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	493,328	492,604
Debt instrument, fair value	[1]	407,660	405,965
1.600% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	496,332	495,990
Debt instrument, fair value	[1]	363,495	365,380
2.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	788,978	788,082
Debt instrument, fair value	[1]	585,423	589,407
2.550% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	495,553	495,207
Debt instrument, fair value	[1]	380,395	390,370
6.200% Note
Debt Instrument [Line Items]
Carrying Value	[1]	891,740	891,277
Debt instrument, fair value	[1]	896,382	907,965
3.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	499,022	504,695
Debt instrument, fair value	[1]	459,952	452,934
6.250% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	239,385	239,176
Debt instrument, fair value	[1]	229,193	251,480
5.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	489,906	489,704
Debt instrument, fair value	[1]	408,990	441,355
4.450% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	344,655	344,549
Debt instrument, fair value	[1]	260,946	287,242
4.000% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	291,095	290,935
Debt instrument, fair value	[1]	205,593	227,946
3.500% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	392,391	392,259
Debt instrument, fair value	[1]	252,984	275,588
2.800% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	394,067	393,958
Debt instrument, fair value	[1]	217,988	237,552
2.850% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	543,278	543,162
Debt instrument, fair value	[1]	304,695	323,527
3.200% Notes
Debt Instrument [Line Items]
Carrying Value	[1]	987,333	987,131
Debt instrument, fair value	[1]	599,690	646,880
Secured Borrowings One [Member] | Other [Member]
Debt Instrument [Line Items]
Carrying Value	[2]	19,966	0
Debt instrument, fair value	[2]	19,966	0
Secured Borrowings Two [Member] | Other [Member]
Debt Instrument [Line Items]
Carrying Value	[2]	20,000	0
Debt instrument, fair value	[2]	$ 20,000	$ 0
[1]Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy.[2]The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.66% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72%. Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing.[3]CLO Notes Payable are due 10/15/2029 and have an effective interest rate of 7.90% as of September 30, 2023.[4]Blackstone Fund Facilities represents borrowing facilities for the various consolidated Blackstone Funds used to meet liquidity and investing needs. Such borrowings have varying maturities and may be rolled over until the disposition or refinancing event. Borrowings bear interest at spreads to market rates or at stated fixed rates that can vary over the borrowing term. Interest may be subject to the performance of the assets within the fund and therefore, the stated interest rate and effective interest rate may differ.

Carrying Value and Fair Value_2

Carrying Value and Fair Value of Blackstone Issued Notes (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2023
4.750% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.75%	[1]
Debt instrument, maturity date	Feb. 15, 2023	[1]
2.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2%	[1]
Debt instrument, maturity date	May 19, 2025	[1]
1.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1%	[1]
Debt instrument, maturity date	Oct. 05, 2026	[1]
3.150% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.15%	[1]
Debt instrument, maturity date	Oct. 02, 2027	[1]
5.900% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	5.90%	[1]
Debt instrument, maturity date	Nov. 03, 2027	[1]
1.625% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.625%	[1]
Debt instrument, maturity date	Aug. 05, 2028	[1]
1.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.50%	[1]
Debt instrument, maturity date	Apr. 10, 2029	[1]
2.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.50%	[1]
Debt instrument, maturity date	Jan. 10, 2030	[1]
1.600% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	1.60%	[1]
Debt instrument, maturity date	Mar. 30, 2031	[1]
2.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2%	[1]
Debt instrument, maturity date	Jan. 30, 2032	[1]
2.550% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.55%	[1]
Debt instrument, maturity date	Mar. 30, 2032	[1]
6.200% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	6.20%	[1]
Debt instrument, maturity date	Apr. 22, 2033	[1]
3.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.50%	[1]
Debt instrument, maturity date	Jun. 01, 2034	[1]
6.250% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	6.25%	[1]
Debt instrument, maturity date	Aug. 15, 2042	[1]
5.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	5%	[1]
Debt instrument, maturity date	Jun. 15, 2044	[1]
4.450% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.45%	[1]
Debt instrument, maturity date	Jul. 15, 2045	[1]
4.000% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4%	[1]
Debt instrument, maturity date	Oct. 02, 2047	[1]
3.500% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.50%	[1]
Debt instrument, maturity date	Sep. 10, 2049	[1]
2.800% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.80%	[1]
Debt instrument, maturity date	Sep. 30, 2050	[1]
2.850% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	2.85%	[1]
Debt instrument, maturity date	Aug. 05, 2051	[1]
3.200% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	3.20%	[1]
Debt instrument, maturity date	Jan. 30, 2052	[1]
Secured Borrowings One [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	7.66%
Debt instrument, maturity date	Oct. 27, 2033	[2]
Secured Borrowings Two [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	3.72%
Debt instrument, maturity date	Jan. 29, 2035	[2]
[1]Fair value is determined by broker quote and these notes would be classified as Level II within the fair value hierarchy.[2]The Secured Borrowing, Due 10/27/2033 has an interest rate of 7.66% and the Secured Borrowing, Due 1/29/2035 has an interest rate of 3.72%. Principal on these borrowings will be paid over the term with repayment amounts dependent on the performance of the underlying assets securing each borrowing.

Scheduled Principal Payments fo

Scheduled Principal Payments for Borrowings (Detail) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
2023	$ 34
2024	0
2025	325,413
2026	640,427
2027	911,572
Thereafter	10,462,686
Total	12,340,132
Operating Borrowings
Debt Instrument [Line Items]
2023	34
2024	0
2025	325,413
2026	640,427
2027	911,572
Thereafter	8,777,120
Total	10,654,566
Blackstone Fund Facilities CLO Vehicles
Debt Instrument [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Thereafter	1,685,566
Total	$ 1,685,566

Summary of Earliest Tax Years t

Summary of Earliest Tax Years that Remain Subject to Examination in Major Jurisdictions (Detail)	9 Months Ended
	Sep. 30, 2023
Federal | Tax Year 2019
Income Tax Contingency [Line Items]
Open Tax Year	2019
New York City | Tax Year 2009
Income Tax Contingency [Line Items]
Open Tax Year	2009
New York State | Tax Year 2016
Income Tax Contingency [Line Items]
Open Tax Year	2016
United Kingdom | Tax Year 2011
Income Tax Contingency [Line Items]
Open Tax Year	2011

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Line Items]
Net Income Attributable to Blackstone Inc., Basic and Diluted		$ 551,994	$ 2,296	$ 1,239,080	$ 1,189,777
Weighted-Average Shares of Common Stock Outstanding, Basic		757,958,602	742,345,646	754,211,390	739,963,370
Weighted-Average Shares of Unvested Deferred Restricted Common Stock		87,494	149,886	244,936	308,877
Weighted-Average Shares of Common Stock Outstanding, Diluted		758,046,096	742,495,532	754,456,326	740,272,247
Net Income Per Share of Common Stock, Basic		$ 0.73	$ 0	$ 1.64	$ 1.61
Net Income Per Share of Common Stock, Diluted		0.73	0	1.64	1.61
Dividends Declared Per Share of Common Stock	[1]	$ 0.79	$ 1.27	$ 2.52	$ 4.04
[1]Dividends declared reflects the calendar date of the declaration for each distribution.

Summary of Anti-Dilutive Securi

Summary of Anti-Dilutive Securities (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Blackstone Partnership Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-Average Units	460,160,593	465,522,745	461,549,778	466,703,389

Schedule of Shares Eligible For

Schedule of Shares Eligible For Dividends and Distribution (Detail)	Sep. 30, 2023 shares
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	757,781,111
Shares eligible for dividends and distributions	1,217,432,156
Common Stock [Member]
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	718,442,863
Unvested Participating Common Stock [Member]
Stockholders Equity [Line Items]
Common stock eligible for dividends and distributions	39,338,248
Participating Partnership Units [Member]
Stockholders Equity [Line Items]
Participating Blackstone Holdings Partnership Units	459,651,045

Earnings Per Share and Stockh_3

Earnings Per Share and Stockholder's Equity - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 07, 2021
Stockholders Equity [Line Items]
Amount remaining available for repurchases	$ 797.6		$ 797.6
Common Stock
Stockholders Equity [Line Items]
Common stock repurchased, units	1,300,000	2,000,000	3,300,000	3,900,000
Amount authorized to repurchase under unit repurchase program					$ 2,000
Common stock repurchased, cost	$ 134.3	$ 196.6	$ 310.4	$ 392

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Partnership grant units					172,161,191
Compensation expense in relation to equity-based awards	$ 260,000	$ 206,600	$ 797,762	$ 636,454
Tax benefits in relation to equity-based awards	49,100	$ 54,600	132,200	$ 127,500
Estimated unrecognized compensation expense related to unvested awards	$ 2,200,000		$ 2,200,000
Weighted-average period for recognized compensation expense related to unvested awards, years			3 years 4 months 24 days
Total vested and unvested outstanding units	1,217,472,540		1,217,472,540
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total outstanding unvested phantom units	94,466		94,466

Summary of Status of Partnershi

Summary of Status of Partnership's Unvested Equity-Based Awards (Detail)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Blackstone | Blackstone Partnership Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance | shares	11,029,996
Vested (Units) | shares	(5,974,487)
Forfeited (Units) | shares	(48,299)
Ending Balance | shares	5,007,210
Beginning Balance | $ / shares	$ 38.02
Vested (Weighted-Average Grant Date Fair Value) | $ / shares	37.49
Forfeited (Weighted-Average Grant Date Fair Value) | $ / shares	42.65
Ending Balance | $ / shares	$ 38.69
Blackstone Group Inc. [Member] | Equity Settled Awards Deferred Restricted Shares Of Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance | shares	31,001,563
Granted (Units) | shares	15,541,313
Vested (Units) | shares	(8,362,042)
Forfeited (Units) | shares	(602,684)
Ending Balance | shares	37,578,150
Beginning Balance | $ / shares	$ 82.94
Granted (Weighted-Average Grant Date Fair Value) | $ / shares	85.15
Vested (Weighted-Average Grant Date Fair Value) | $ / shares	73.81
Forfeited (Weighted-Average Grant Date Fair Value) | $ / shares	89.92
Ending Balance | $ / shares	$ 85.82
Blackstone Group Inc. [Member] | Cash Settled Awards Phantom Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance | shares	48,886
Granted (Units) | shares	69,267
Vested (Units) | shares	(10,204)
Forfeited (Units) | shares	(18,866)
Ending Balance | shares	89,083
Beginning Balance | $ / shares	$ 85.04
Granted (Weighted-Average Grant Date Fair Value) | $ / shares	93.2
Vested (Weighted-Average Grant Date Fair Value) | $ / shares	99.5
Forfeited (Weighted-Average Grant Date Fair Value) | $ / shares	68.63
Ending Balance | $ / shares	$ 104.62

Unvested Shares and Units, Afte

Unvested Shares and Units, After Expected Forfeitures (Detail)	9 Months Ended
	Sep. 30, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Blackstone Holdings Partnership Units	4,916,949
Deferred Restricted Shares of Common Stock	32,867,925
Total Equity-Based Awards	37,784,874
Phantom Shares	73,413
Blackstone Holdings Partnership Units (Weighted-Average Service Period in Years)	1 year 1 month 6 days
Deferred Restricted Shares of Common Stock (Weighted-Average Service in Years)	3 years 1 month 6 days
Total Equity-Based Awards (Weighted-Average Service Period in Years)	2 years 10 months 24 days
Phantom Shares (Weighted-Average Service Period in Years)	3 years 2 months 12 days

Due from Affiliates and Due to

Due from Affiliates and Due to Affiliates (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Management Fees, Performance Revenues, Reimbursable Expenses and Other Receivables from Non-Consolidated Entities and Portfolio Companies	$ 3,555,322	$ 3,344,813
Due from Certain Non-Controlling Interest Holders and Blackstone Employees	764,012	741,319
Accrual for Potential Clawback of Previously Distributed Performance Allocations	78,999	60,575
Due from Affiliates, total	4,398,333	4,146,707
Due to Certain Non-Controlling Interest Holders in Connection with the Tax Receivable Agreements	1,628,268	1,602,933
Due to Non-Consolidated Entities	106,972	157,982
Due to Certain Non-Controlling Interest Holders and Blackstone Employees	230,713	198,875
Accrual for Potential Repayment of Previously Received Performance Allocations	222,271	158,691
Due to Affiliates, total	2,188,224	2,118,481
Related Party [Member]
Related Party Transaction [Line Items]
Due from Affiliates, total	4,398,333	4,146,707
Due to Affiliates, total	$ 2,188,224	$ 2,118,481

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Investments	$ 27,339,857		$ 27,339,857		$ 27,553,251
Cash saving in tax receivable agreements, percentage			85%
Expected future payments under the tax receivable agreements	1,600,000		$ 1,600,000
Expected future payments under the tax receivable agreements in years			15 years
After-tax net present value estimated payments	$ 510,000		$ 510,000
After-tax net present value discount rate assumption	15%		15%
Founder, senior managing directors, employees and certain other related parties
Related Party Transaction [Line Items]
Net Income Attributable to Non-Controlling Interests	$ 13,400	$ (10,000)	$ 67,800	$ (20,400)
Founder, senior managing directors, employees and certain other related parties | Consolidated Blackstone Funds
Related Party Transaction [Line Items]
Investments	$ 1,700,000		$ 1,700,000		$ 1,600,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Schedule Of Commitments And Contingencies [Line Items]
General partner capital funding	$ 4,800
Total investments at risk in respect of guarantees extended	$ 22.5
Contingent obligations currently anticipated to expire end	2032
Provision for cash clawback	$ 1,100
Contingent Obligations (Clawback)	6,300
Loss contingency accrual, payments	6.5
Blackstone Real Estate Investment Trust or BREIT [Member]
Schedule Of Commitments And Contingencies [Line Items]
Common stock, value, subscriptions		$ 4,500
Investments Pledged fair value	$ 1,200	1,100
Percentage of incremental cash payment In excess of target return	5%
Security owned and pledged as collateral, associated liabilities, fair value	$ 260.2
Blackstone Real Estate Investment Trust or BREIT [Member] | University of California [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage of targeted annualized net return	11.25%
Cost of the investment		$ 4,500
Blackstone Holdings
Schedule Of Commitments And Contingencies [Line Items]
Loans held By employees for investment guaranteed	$ 75.2
Contingent Obligations (Clawback)	5,900
Loss contingency accrual, payments	4.2
Current And Former Blackstone Personnel
Schedule Of Commitments And Contingencies [Line Items]
Loss contingency accrual, payments	2.3
Consolidated Blackstone Funds
Schedule Of Commitments And Contingencies [Line Items]
Funds signed investment commitments	173.6
Consolidated Blackstone Funds | Portfolio Company Acquisition
Schedule Of Commitments And Contingencies [Line Items]
Signed investment commitments for portfolio company acquisitions in process of closing	$ 59.2

Clawback Obligations by Segment

Clawback Obligations by Segment (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Product Liability Contingency [Line Items]
Clawback obligations	[1]	$ 222,271	$ 158,691
Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		143,829	98,146
Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	78,442	60,545
Hedge Fund Solutions
Product Liability Contingency [Line Items]
Clawback obligations	[1]	16,842	0
Hedge Fund Solutions | Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		17,399	0
Hedge Fund Solutions | Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	(557)	0
Real Estate Segment
Product Liability Contingency [Line Items]
Clawback obligations	[1]	142,348	130,415
Real Estate Segment | Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		87,842	78,644
Real Estate Segment | Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	54,506	51,771
Private Equity Segment
Product Liability Contingency [Line Items]
Clawback obligations	[1]	62,619	27,848
Private Equity Segment | Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		38,384	19,279
Private Equity Segment | Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	24,235	8,569
Credit & Insurance
Product Liability Contingency [Line Items]
Clawback obligations	[1]	462	428
Credit & Insurance | Blackstone Holdings
Product Liability Contingency [Line Items]
Clawback obligations		204	223
Credit & Insurance | Current And Former Blackstone Personnel
Product Liability Contingency [Line Items]
Clawback obligations	[2]	$ 258	$ 205
[1]Total is a component of Due to Affiliates. See Note 16. “Related Party Transactions — Affiliate Receivables and Payables — Due to Affiliates.”[2]The split of clawback between Blackstone Holdings and Current and Former Personnel is based on the performance of individual investments held by a fund rather than on a fund by fund basis.

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Number of business segments	4	4	4	4

Financial Data of Segments (Det

Financial Data of Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Fee Related Performance Revenues	$ 274,551	$ 372,131	$ 689,533	$ 1,276,789
Realized Performance Revenues	612,491	836,664	2,057,422	5,260,906
Realized Performance Compensation	234,052	364,285	863,550	2,204,184
Operating Segments
Segment Reporting Information [Line Items]
Base Management Fees	1,619,743	1,528,561	4,859,899	4,464,586
Transaction, Advisory and Other Fees, Net	44,611	89,865	183,056	238,966
Management Fee Offsets	(10,514)	(6,856)	(33,542)	(61,697)
Total Management and Advisory Fees, Net	1,653,840	1,611,570	5,009,413	4,641,855
Fee Related Performance Revenues	274,551	372,131	689,533	1,276,789
Fee Related Compensation	(539,923)	(558,268)	(1,617,702)	(1,850,152)
Other Operating Expenses	(264,445)	(246,134)	(773,459)	(721,742)
Fee Related Earnings	1,124,023	1,179,299	3,307,785	3,346,750
Realized Performance Revenues	337,940	469,009	1,367,889	3,988,593
Realized Performance Compensation	(133,995)	(206,224)	(608,389)	(1,652,318)
Realized Principal Investment Income	55,500	139,765	91,730	340,369
Total Net Realizations	259,445	402,550	851,230	2,676,644
Total Segment Distributable Earnings	1,383,468	1,581,849	4,159,015	6,023,394
Segment Assets	37,035,741		37,035,741
Operating Segments | Real Estate Segment
Segment Reporting Information [Line Items]
Base Management Fees	697,561	610,606	2,112,925	1,802,543
Transaction, Advisory and Other Fees, Net	10,686	54,342	58,313	141,801
Management Fee Offsets	(7,616)	(1,842)	(26,380)	(3,491)
Total Management and Advisory Fees, Net	700,631	663,106	2,144,858	1,940,853
Fee Related Performance Revenues	127,841	260,003	279,888	1,017,027
Fee Related Compensation	(199,384)	(239,572)	(536,000)	(858,307)
Other Operating Expenses	(83,074)	(74,701)	(229,204)	(229,033)
Fee Related Earnings	546,014	608,836	1,659,542	1,870,540
Realized Performance Revenues	17,419	142,794	148,236	2,943,430
Realized Performance Compensation	(7,813)	(33,464)	(80,571)	(1,154,897)
Realized Principal Investment Income	1,565	45,297	3,719	128,388
Total Net Realizations	11,171	154,627	71,384	1,916,921
Total Segment Distributable Earnings	557,185	763,463	1,730,926	3,787,461
Segment Assets	13,683,819		13,683,819
Operating Segments | Private Equity Segment
Segment Reporting Information [Line Items]
Base Management Fees	457,008	466,474	1,351,630	1,321,405
Transaction, Advisory and Other Fees, Net	21,780	24,313	85,389	64,522
Management Fee Offsets	(1,982)	(3,634)	(4,058)	(53,933)
Total Management and Advisory Fees, Net	476,806	487,153	1,432,961	1,331,994
Fee Related Performance Revenues	0	0	0	(648)
Fee Related Compensation	(145,987)	(142,381)	(463,293)	(446,053)
Other Operating Expenses	(78,547)	(76,138)	(229,713)	(227,115)
Fee Related Earnings	252,272	268,634	739,955	658,178
Realized Performance Revenues	299,272	309,326	945,770	882,448
Realized Performance Compensation	(117,814)	(164,531)	(413,389)	(428,614)
Realized Principal Investment Income	22,497	38,015	59,353	112,357
Total Net Realizations	203,955	182,810	591,734	566,191
Total Segment Distributable Earnings	456,227	451,444	1,331,689	1,224,369
Segment Assets	14,152,032		14,152,032
Operating Segments | Hedge Fund Solutions Segment
Segment Reporting Information [Line Items]
Base Management Fees	131,346	138,818	399,429	428,941
Transaction, Advisory and Other Fees, Net	1,783	581	5,539	5,500
Management Fee Offsets	(18)	(57)	(49)	(166)
Total Management and Advisory Fees, Net	133,111	139,342	404,919	434,275
Fee Related Performance Revenues	0	0	0	0
Fee Related Compensation	(46,496)	(40,895)	(138,120)	(145,993)
Other Operating Expenses	(26,677)	(26,599)	(82,782)	(75,849)
Fee Related Earnings	59,938	71,848	184,017	212,433
Realized Performance Revenues	6,900	4,430	92,009	40,540
Realized Performance Compensation	(2,917)	(3,237)	(34,635)	(14,320)
Realized Principal Investment Income	2,225	9,460	12,792	22,831
Total Net Realizations	6,208	10,653	70,166	49,051
Total Segment Distributable Earnings	66,146	82,501	254,183	261,484
Segment Assets	2,516,441		2,516,441
Operating Segments | Credit & Insurance Segment
Segment Reporting Information [Line Items]
Base Management Fees	333,828	312,663	995,915	911,697
Transaction, Advisory and Other Fees, Net	10,362	10,629	33,815	27,143
Management Fee Offsets	(898)	(1,323)	(3,055)	(4,107)
Total Management and Advisory Fees, Net	343,292	321,969	1,026,675	934,733
Fee Related Performance Revenues	146,710	112,128	409,645	260,410
Fee Related Compensation	(148,056)	(135,420)	(480,289)	(399,799)
Other Operating Expenses	(76,147)	(68,696)	(231,760)	(189,745)
Fee Related Earnings	265,799	229,981	724,271	605,599
Realized Performance Revenues	14,349	12,459	181,874	122,175
Realized Performance Compensation	(5,451)	(4,992)	(79,794)	(54,487)
Realized Principal Investment Income	29,213	46,993	15,866	76,793
Total Net Realizations	38,111	54,460	117,946	144,481
Total Segment Distributable Earnings	303,910	$ 284,441	842,217	$ 750,080
Segment Assets	$ 6,683,449		$ 6,683,449

Reconciliation of Total Segment

Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes and Total Assets (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Revenues		$ 2,541,285	$ 1,058,114	$ 6,737,821	$ 6,813,614
Less: Unrealized Principal Investment (Income) Loss		69,340	(1,069,697)	(257,988)	(1,496,226)
Total Expenses		1,374,905	961,361	4,039,560	3,902,496
Total Other Income (Loss)		(49,078)	1,178	104,373	(51,524)
Total Other Income		0	0	0	0
Total GAAP Income Before Provision for Taxes		1,117,302	97,931	2,802,634	2,859,594
Less: Unrealized Principal Investment (Income) Loss		69,340	(1,069,697)	(257,988)	(1,496,226)
Total Assets		41,663,823		41,663,823		$ 42,524,227
Operating Segments
Segment Reporting Information [Line Items]
Total Revenues	[1]	2,321,831	2,592,475	7,158,565	10,247,606
Total Expenses	[2]	938,363	1,010,626	2,999,550	4,224,212
Total Segment Distributable Earnings		1,383,468	1,581,849	4,159,015	6,023,394
Total Assets		37,035,741		37,035,741
Consolidation Adjustments and Reconciling Items
Segment Reporting Information [Line Items]
Less: Unrealized Performance Revenues	[3]	63,209	771,637	708,146	2,946,255
Less: Unrealized Principal Investment (Income) Loss	[4]	(84,780)	996,105	233,638	1,172,635
Less: Interest and Dividend Revenue	[5]	(113,904)	(57,462)	(362,245)	(178,090)
Less: Other Revenue	[6]	(63,748)	(198,546)	(17,850)	(427,069)
Impact of Consolidation	[7]	(20,389)	23,373	(139,784)	(79,124)
Transaction-Related and Non-Recurring Items	[8]	(420)	(1,264)	(3,093)	(2,714)
Less: Unrealized Performance Allocations Compensation	[9]	(11,866)	359,590	247,228	1,273,849
Less: Equity-Based Compensation	[10]	(255,616)	(190,197)	(773,505)	(587,386)
Less: Interest Expense	[11]	(110,014)	(80,312)	(321,353)	(216,339)
Impact of Consolidation	[7]	(43,172)	(14,125)	(140,725)	(33,325)
Amortization of Intangibles	[12]	(7,357)	(13,238)	(26,110)	(47,326)
Transaction-Related and Non-Recurring Items	[8]	(6,670)	(10,511)	(20,192)	(62,435)
Administrative Fee Adjustment	[13]	2,425	2,460	7,285	7,421
Less: Unrealized Performance Revenues	[3]	63,209	771,637	708,146	2,946,255
Less: Unrealized Principal Investment (Income) Loss	[4]	(84,780)	996,105	233,638	1,172,635
Less: Interest and Dividend Revenue	[5]	(113,904)	(57,462)	(362,245)	(178,090)
Less: Other Revenue	[6]	(63,748)	(198,546)	(17,850)	(427,069)
Plus: Unrealized Performance Allocations Compensation	[9]	11,866	(359,590)	(247,228)	(1,273,849)
Plus: Equity-Based Compensation	[10]	255,616	190,197	773,505	587,386
Plus: Interest Expense	[11]	110,014	80,312	321,353	216,339
Amortization of Intangibles	[12]	7,357	13,238	26,110	47,326
Transaction-Related and Non-Recurring Items	[8]	6,250	9,247	17,099	59,721
Administrative Fee Adjustment	[13]	2,425	2,460	7,285	7,421
Segment Adjustment
Segment Reporting Information [Line Items]
Intersegment Eliminations		578	518	1,932	2,099
Intersegment Eliminations		578	518	1,932	2,099
Impact of Consolidation
Segment Reporting Information [Line Items]
Total Other Income		49,078	(1,178)	(104,373)	51,524
Impact of Consolidation	[7]	71,861	$ 36,320	(103,432)	$ 5,725
Total Assets	[7]	$ (4,628,082)		$ (4,628,082)
[1]Total Segment Revenues is comprised of the following:[2]Total Segment Expenses is comprised of the following:[3]This adjustment removes Unrealized Performance Revenues on a segment basis.[4]This adjustment removes Unrealized Principal Investment Income (Loss) on a segment basis.[5]This adjustment removes Interest and Dividend Revenue on a segment basis.[6]This adjustment removes Other Revenue on a segment basis. For the three months ended September 30, 2023 and 2022, Other Revenue on a GAAP basis was $63.8 million and $199.4 million, and included $63.2 million and $198.4 million of foreign exchange gains (losses), respectively. For the nine months ended September 30, 2023 and 2022, Other Revenue on a GAAP basis was $18.0 million and $427.8 million, and included $16.4 million and $426.7 million of foreign exchange gains (losses), respectively.[7]This adjustment reverses the effect of consolidating Blackstone Funds, which are excluded from Blackstone’s segment presentation. This adjustment includes the elimination of Blackstone’s interest in these funds, the removal of revenue from the reimbursement of certain expenses by the Blackstone Funds, which are presented gross under GAAP but netted against Management and Advisory Fees, Net in the Total Segment measures, and the removal of amounts associated with the ownership of Blackstone consolidated operating partnerships held by non-controlling interests.[8]This adjustment removes Transaction-Related and Non-Recurring Items, which are excluded from Blackstone’s segment presentation. Transaction-Related and Non-Recurring Items arise from corporate actions including acquisitions, divestitures, Blackstone’s initial public offering and non-recurring gains, losses, or other charges, if any. They consist primarily of equity-based compensation charges, gains or 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, gains or losses associated with these corporate actions and non-recurring gains, losses or other charges that affect period-to-period comparability and are not reflective of Blackstone’s operational performance.[9]This adjustment removes Unrealized Performance Allocations Compensation.[10]This adjustment removes Equity-Based Compensation on a segment basis.[11]This adjustment adds back Interest Expense on a segment basis, excluding interest expense related to the Tax Receivable Agreement.[12]This adjustment removes the amortization of transaction-related intangibles, which are excluded from Blackstone’s segment presentation.[13]This adjustment adds an amount equal to an administrative fee collected on a quarterly basis from certain holders of Blackstone Holdings Partnership Units. The administrative fee is accounted for as a capital contribution under GAAP, but is reflected as a reduction of Other Operating Expenses in Blackstone’s segment presentation.

Reconciliation of Total Segme_2

Reconciliation of Total Segments to Income (Loss) Before Provision for Taxes and Total Assets (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total Segment Fee Related Performance Revenues		$ 274,551	$ 372,131	$ 689,533	$ 1,276,789
Total Segment Realized Performance Revenues		612,491	836,664	2,057,422	5,260,906
Total Segment Realized Performance Compensation		(234,052)	(364,285)	(863,550)	(2,204,184)
Total Segment Other Operating Expenses		63,769	199,382	17,951	427,839
Foreign exchange gains (losses)		63,200	198,400	16,400	426,700
Operating Segments
Segment Reporting Information [Line Items]
Total Segment Management and Advisory Fees, Net		1,653,840	1,611,570	5,009,413	4,641,855
Total Segment Fee Related Performance Revenues		274,551	372,131	689,533	1,276,789
Total Segment Realized Performance Revenues		337,940	469,009	1,367,889	3,988,593
Total Segment Realized Principal Investment Income		55,500	139,765	91,730	340,369
Total Revenues	[1]	2,321,831	2,592,475	7,158,565	10,247,606
Total Segment Fee Related Compensation		539,923	558,268	1,617,702	1,850,152
Total Segment Realized Performance Compensation		133,995	206,224	608,389	1,652,318
Total Segment Other Operating Expenses		264,445	246,134	773,459	721,742
Total Expenses	[2]	$ 938,363	$ 1,010,626	$ 2,999,550	$ 4,224,212
[1]Total Segment Revenues is comprised of the following:[2]Total Segment Expenses is comprised of the following:

Reconciliation of Total Segme_3

Reconciliation of Total Segments to Reported on the Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	[1]	$ (1,603)	$ (6,184)	$ (13,715)	$ (13,022)
Investment Income - Realized Performance Allocations		453,690	725,888	1,602,668	4,946,043
Realized Performance Revenues		274,551	372,131	689,533	1,276,789
Compensation and Benefits Compensation		700,268	600,273	2,153,570	1,942,790
Incentive Fee Compensation		65,432	50,355	192,940	136,737
Realized Performance Allocations Compensation		168,620	313,930	670,610	2,067,447
Realized Performance Revenues		612,491	836,664	2,057,422	5,260,906
Segment Adjustment	[2]	0	4,476	0	4,476
Total Compensation and Benefits		934,320	964,558	3,017,120	4,146,974
General, Administrative and Other		279,186	270,369	827,614	800,331
General, Administrative and Other	[3]	(14,741)	(24,235)	(54,155)	(78,589)
Investment Income - Realized Performance Allocations		453,690	725,888	1,602,668	4,946,043
Realized Performance Revenues		612,491	836,664	2,057,422	5,260,906
Realized Performance Compensation		234,052	364,285	863,550	2,204,184
Investment Income Realized		94,313	193,228	257,206	743,493
Investment Income Realized	[4]	(38,813)	(53,463)	(165,476)	(403,124)
Segment Adjustment	[5]	(4,786)	(9,869)	(17,524)	(57,118)
Less: Fee Related Performance Compensation	[6]	(97,369)	(155,737)	(246,183)	(544,509)
Total Segment		(234,052)	(364,285)	(863,550)	(2,204,184)
Management and Advisory Fees, Net
Segment Reporting Information [Line Items]
Revenues		1,655,443	1,617,754	5,023,128	4,654,877
Incentive Fees
Segment Reporting Information [Line Items]
Revenues		158,801	110,776	454,754	314,863
Operating Segments
Segment Reporting Information [Line Items]
Revenues		1,653,840	1,611,570	5,009,413	4,641,855
Realized Performance Revenues		274,551	372,131	689,533	1,276,789
Realized Performance Revenues		337,940	469,009	1,367,889	3,988,593
Realized Performance Revenues		(274,551)	(372,131)	(689,533)	(1,276,789)
General, Administrative and Other		264,445	246,134	773,459	721,742
Realized Performance Revenues		337,940	469,009	1,367,889	3,988,593
Less: Realized Performance Revenues		(337,940)	(469,009)	(1,367,889)	(3,988,593)
Realized Performance Compensation		(133,995)	(206,224)	(608,389)	(1,652,318)
Investment Income Realized		55,500	139,765	91,730	340,369
Less: Equity-Based Compensation - Operating Compensation		(252,928)	(187,873)	(764,527)	(580,029)
Less: Equity-Based Compensation - Performance Compensation		(2,688)	(2,324)	(8,978)	(7,357)
Total Compensation and Benefits		539,923	558,268	1,617,702	1,850,152
Less: Equity-Based Compensation - Performance Compensation		(2,688)	(2,324)	(8,978)	(7,357)
Total Segment		133,995	206,224	608,389	1,652,318
Operating Segments | Management and Advisory Fees, Net
Segment Reporting Information [Line Items]
Revenues		$ 1,653,840	$ 1,611,570	$ 5,009,413	$ 4,641,855
[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 and Non-Recurring Items 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.