Goldman Sachs CEO got 30% pay cut -- but still made $25 million | CNN Business

The investment banking giant said in a Securities and Exchange Commission filing Friday that Solomon received $25 million in annual compensation last year. While that is still a very large amount of money, it’s down nearly 30% from the $35 million that Solomon raked in during 2021. Solomon’s $2 million annual salary is unchanged. But the company said that his “annual variable compensation,” paid in a mix of performance-based restricted stock units and cash, was well below 2021 levels.

Still, Goldman Sachs was hit hard by the slowdown in dealmaking last year. The company reported a 16% drop in revenue in the fourth quarter and profit plunge of 66% earlier this month, mainly due to the lack of merger activity and initial public offerings. In fact, earnings for Goldman Sachs missed Wall Street’s consensus forecasts by the widest margin since the third quarter of 2011. Solomon said in the company’s earnings release that the company faced “a challenging economic backdrop.

bet he paid no taxes either….

Isn’t this the guy who moonlights as a DJ?

Without reading the article, I'm sending the opposite of thoughts and prayers.

Big option award at the new lower strike price is usually part of the punishment. Zero is the right bonus.

90% would make it right

So CNN editors think this is punishment. Got it

Does 20 trillion in damages sound fair for the damage Chyna did to America with there virus?

this is how disgusting republicans are Florida

good

Your far too kind to him for all the crimes Goldman Sachs has participated in.

GuyAdami CNBCFastMoney MelissaLeeCNBC CNBC I’m sure Guy is good with this “punishment”. Corporate greed and stock buy backs are fueling inflation as much as anything else.

Boo hoo...only $25mn pay. Tough, really tough year. 😒

It's always a fun activity that the board, where the ceo is usually the chair, has to set the CEO's target just enough that he always makes some bonus payout even if the company misses targets and lays off thousands.

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