Blackstone IPO prices at $31 a share

It looks like it will be the biggest IPO in 5 years. And the founder got some big money from the deal as well. That is quite a feat to turn $400K into $7.7 billion.

For Blackstone's founders -- who launched the private equity firm in
1985 with a $400,000 investment -- the IPO will mean a big payout. Chief
Executive Stephen Schwarzman will walk away with a stake in the company worth about $7.7 billion, putting him among the richest of the rich on Wall
Street.