He manages a $1.4 trillion empire and wears a $140 Swiss watch. Now Stephen Schwarzman has a $400 million superyacht with a glass-bottom pool, helipad and fold-down balconies

Stephen Schwarzman oversees one of the world's biggest investment firms, yet he is often spotted wearing colourful Swatch watches that cost about $140 instead of luxury timepieces worth tens of thousands of dollars. Now the Blackstone chairman has added another high-profile possession to his portfolio, buying a custom-built superyacht estimated to cost around $400 million.

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