Million Dollar 60th Birthday Parties With Private Concerts Are Still Hot On Wall Street

Lavish 60th birthday bashes are still a hot trend in the private equity and hedge fund world.

Page Six reports that hedge funder Thomas Kempner, Jr., who runs Davidson Kempner Capital Management, celebrated his birthday on Wednesday night at the Museum of Natural History complete with a Billy Joel concert.

Joel played for the audience of financial heavy-hitters, which included Dan Loeb and Blackstone's Tony James, for an hour and a half, the report said. The Post estimates that the performance costs up to $2 million.

In 2011, Apollo Management's Leon Black celebrated his 60th with a huge bash in the Hamptons. The guest list included Julian Robertson, Michael Milken, Lloyd Blankfein and Steve Schwarzman. At his party, Elton John gave an hour-and-a-half performance that cost at least $1 million, according to Dealbook.

The trend really goes back before the financial crisis with private equity billionaire Steve Schwarzman's 60th birthday celebration.

Back in 2007, Schwarzman celebrated the occasion with a party at the Seventh Regiment Armory on Park Avenue, Dealbook reported. His guest list included big names such as Donald and Melania Trump, Maria Bartiromo and Barbara Walters. Musician Rod Stewart headlined the event.

According to the Post, Joel played "Allentown" for Kempner's guests. Here's the music video.