Goldman Sachs' Top Bosses Are in Line for $500 Million in Special Stock Awards
David Solomon is expected to receive about $100 million as Goldman’s share price outperformed most Wall Street rivals over five years.
- Goldman Sachs is preparing equity awards exceeding $500 million for senior executives, one of the largest payouts in the Wall Street bank's history.
- The bank disclosed this long-term incentive scheme in 2021 when Wall Street banks benefited from record dealmaking and a boom in "blank cheque" companies amid Covid.
- CEO David Solomon is expected to receive about $100 million in share-based awards, while President and COO John Waldron also benefits from the scheme.
- Final payouts depend on stock market performance relative to peers at the end of October, though Goldman's shares are up about 180 per cent over three years.
- After exiting loss-making retail banking, Goldman doubled down on investment banking and trading, helping the firm outperform most Wall Street rivals over five years.
16 Articles
16 Articles
Goldman Sachs' Top Bosses Are in Line for $500 Million in Special Stock Awards
Goldman Sachs awarded performance stock to its top executives back in 2021, and three years of share price gains have quietly turned those grants into something much larger than anyone publicly discussed at the time.
The incentive scheme was set at 2021, an exceptional year for investment firms
U.S. investment bank Goldman Sachs is expected to pay special stock compensation totaling over $500 million (approximately 670 billion won) to about 20 top executives. CEO David Solomon is expected to receive more than $100 million (approximately 134 billion won) of this amount. According to Bloomberg on the 8th (local time), Goldman Sachs is paying its top executives the highest ever under the long-term performance compensation system introduce…
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