This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Goldman Doubles David Solomon’s Pay to $35 Million
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Markets > Goldman Doubles David Solomon’s Pay to $35 Million
Markets

Goldman Doubles David Solomon’s Pay to $35 Million

Editorial Board Published January 28, 2022
Share
Goldman Doubles David Solomon’s Pay to  Million
SHARE

David Solomon, chief executive of Goldman Sachs, got a one-time stock award of about $30 million last fall.

Photo: Bryan van der Beek/Bloomberg News

By

Charley Grant

Updated Jan. 28, 2022 5:12 pm ET

Goldman Sachs Group Inc. GS 1.75% doubled Chief Executive Officer David Solomon’s pay in 2021 after the Wall Street firm posted a record annual profit.

Mr. Solomon received a $35 million pay package for 2021, the bank said in a securities filing Friday. That is up from $17.5 million in 2020, when Goldman cut his pay by $10 million following the bank’s admission that it broke U.S. laws in its dealings with an investment fund at the heart of a global corruption ring.

In October 2020, Goldman agreed to pay nearly $3 billion to government officials in four countries to end an investigation into work it performed for 1MDB, a Malaysian fund that prosecutors had alleged was used to pay bribes to politicians in Malaysia and the Middle East. The bank said at the time that it would take a total of $174 million in compensation from current and former executives.


Newsletter Sign-up

Markets

A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data.


Mr. Solomon’s 2021 pay package consisted of a $2 million base salary, a cash bonus of about $10 million and a $23.1 million stock award that is tied to how well the bank performs in the next few years.

Mr. Solomon got a one-time stock award of about $30 million in October. The award, the bank said at the time, was designed to keep him atop the firm and a nod to “the rapidly increasing war for talent in the current environment.”

Higher compensation expenses across the board sent Goldman’s fourth-quarter profit down after a string of big gains. The bank’s compensation spending rose $4.4 billion in 2021. Still, the bank generated record revenue and profit for the year, and its return on equity, a measure of how profitably it uses shareholder money, was at its highest level since 2007.

Other banks recently rewarded executives for strong results. Morgan Stanley awarded CEO James Gorman $35 million in 2021 compensation, a 6% increase. JPMorgan Chase & Co. paid CEO Jamie Dimon $34.5 million for his work last year, up from $31.5 million in 2020.

Write to Charley Grant at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

TAGGED:MarketsPAIDWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Elon Musk’s Decision to Slow New Tesla Models Risks Holding Up Growth Elon Musk’s Decision to Slow New Tesla Models Risks Holding Up Growth
Next Article ‘Tiger King’ Joe Exotic resentenced to 21 years in prison ‘Tiger King’ Joe Exotic resentenced to 21 years in prison

Editor's Pick

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Studying Time: 3 minutes The View co-host Alyssa Farah Griffin is pregnant! On ‘The View,’ Alyssa Farah Griffin breaks the…

By Editorial Board 3 Min Read
Danielle Fishel Rebuffs Whitney Leavitt After ‘DWTS’ Gaffe
Danielle Fishel Rebuffs Whitney Leavitt After ‘DWTS’ Gaffe

Studying Time: 2 minutes Did Danielle Fishel simply put Whitney Leavitt in…

4 Min Read
Map: See the place California FAIR Plan seeks house insurance coverage fee hikes
Map: See the place California FAIR Plan seeks house insurance coverage fee hikes

The FAIR Plan, California’s last-resort insurance coverage program for owners needing fireplace…

5 Min Read

Oponion

Full Recovery in Global Labor Market Could Take Years

Full Recovery in Global Labor Market Could Take Years

It will take at least two years before global unemployment…

January 17, 2022

Greatest approach to rating a job with Trump? Be a racist web troll.

Did you hear concerning the man…

August 20, 2025

World’s Smallest Coronary heart Pump ‘A Recreation-changer’ in Retaining Failing Hearts Going With out Main Surgical procedure

Impella 5.5® with SmartAssist® Pump –…

February 16, 2025

Texas flash floods hit residents and campers in a deluge “nobody saw” coming. Here is what to know.

Flash floods in Texas killed greater…

July 7, 2025

Overcome Internet hosting Nervousness—Therapists Share Learn how to Keep Calm and Have Enjoyable

2025 is the yr I’m getting…

March 16, 2025

You Might Also Like

Jamie Dimon warns of main market threat in subsequent few years
Markets

Jamie Dimon warns of main market threat in subsequent few years

CPA and market analyst Dan Geltrude joins ‘Mornings with Maria’ to interrupt down the record-setting rally fueled by synthetic intelligence,…

4 Min Read
Meme inventory mania 2.0
Markets

Meme inventory mania 2.0

Pacer ETFs President Sean O’Hara discusses the advantages of ETFs and lays out his favourite investments on ‘The Claman Countdown.’…

4 Min Read
Traders have fun Japan’s ‘Iron Lady’ election win
Markets

Traders have fun Japan’s ‘Iron Lady’ election win

Federated Hermes CIO Stephen Auth weighs in on Japan's first elected feminine prime minister and provides an concept on what…

3 Min Read
Tesla teases Tuesday announcement with social media movies
Markets

Tesla teases Tuesday announcement with social media movies

Niles Funding Administration founder and portfolio Dan Niles discusses Tesla’s potential $1 trillion compensation plan for Elon Musk on ‘The…

5 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?