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Goldman Sachs CEO's 2019 compensation rises 19%

Published 03/20/2020, 09:15 PM
Updated 03/20/2020, 06:15 PM
© Reuters.

NEW YORK (Reuters) - Goldman Sachs Group Inc (N:GS) Chief Executive David Solomon's total compensation rose by 19%, or $4 million, for 2019 compared with 2018, according to a regulatory filing released on Friday.

Solomon's total compensation for 2019 was $24.7 million, up from $20.7 million in 2018, according to Goldman's proxy statement.

The disclosure comes as companies face pressure to cut payouts to investors to curb the fallout from the coronavirus outbreak.

Solomon's compensation compared to the median compensation of all other Goldman employees represented a ratio of about 178:1, according to the proxy statement.

Goldman's president, John Waldron, received total compensation of $22.3 million in 2019, up from $16.8 million in 2018, the filing showed.

Goldman for the 2019 full year reported net earnings of $8.47 billion, a decline of 19% from the prior year. The result included provisions of $1.24 billion for litigation and regulatory proceedings.

Latest comments

a disgrace period. they traitors of the american democratic way of life. while main street suffers , and thousands of honest working people loose their jobs due to the Chinese (corona virus) they are getting millions of additional dollars on the millions of dollars annual salaries. its is unamerican and plain greed... there is obsoluteley something wrong with our system. All the large banks that were bailedin 2008. used all the cheap borrowing of money to buyback shares of their stocks increasing the value of shares owned by the same CEO that take home millions in annual salaries. They took the money to stuff their pockets with millions of dollars in leu of using that cheap money to create jobs for the hard working people in this country. DISGRACE DISGRACE. YOU ARE THE TRAITORS OF WHAT AMERICA WAS FOUND. the founders of this country would turn on their graves if they knew the present modus operandi of companies like Goldman Sachs and many many others.
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