Stephen Schwarzman doesn't own an Apple iPhone, a Samsung Galaxy, or any smartphone for that matter.

As I was leaving the Dealbook Conference at One World Trade Center on Thursday, I ended up in an elevator with the CEO of the private equity behemoth Blackstone Group.

Schwarzman, who has an estimated net worth of $10.7 billion, pulled out a gray flip phone from his coat pocket.

I was shocked.

Business Insider has learned that the model of Schwarzman's phone is a Nokia 6350. 

He actually prefers just a regular cell phone, according to a representative. 

"Steve uses his flip phone to make and get phone calls. It does that better and more easily than any other device. He has an iPad for everything else," Schwarzman's representative told Business Insider.

Ironically, as we were leaving the building, I overheard Schwarzman mention the poor cell service in the building.

He was right the reception was terrible. I could barely make a call with my iPhone 5s (Only one went through).

Luckily, though, the Wi-Fi in the building was working great.

It's refreshing to see a billionaire who doesn't feel the need to carry a flashy smartphone. On the flip side, it's also nice knowing that it doesn't take a smartphone to make a billionaire.

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