🎙️ Blackstone's Empire

[5 minutes to read] Plus: The hottest new job title in corporate America

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Shawn O'Malley & Matthew Gutierrez
January 29, 2024

By Matthew Gutierrez and Shawn O’Malley

Guess the new $400,000-per-year job that doesn’t require a college degree?

Walmart store managers. They act as midlevel executives because they oversee stores with roughly 350 workers and ~$100 million in annual revenue, including a rapidly growing e-commerce business.

Their annual base salary is around $128,000, but stock grants (up to $20,000) and bonuses (up to 200%) have pushed total compensation to new heights.

Noted Walmart’s CEO, who started as an hourly worker 30 years ago: “We are asking them to act like owners and to think like owners.”

— Matthew & Shawn

Here’s today’s rundown:

Today, we'll discuss the three biggest stories in markets:

  • Why Blackstone is building a data center empire

  • The hottest job in corporate America

  • What’s driving soaring childcare costs, again

All this, and more, in just 5 minutes to read.

POP QUIZ

Data centers power the modern world. How much electricity do they consume? (The answer is at the bottom of this newsletter!)

Chart of the Day

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