Goldman Slashes Pay Of CEO And DJ D-Sol By 30% To $25 Million

Posted by Ed 2 mths ago
"The Compensation Committee considered, among other things, the firm’s 2022 performance, both on an absolute basis and relative to peer results, as well as in comparison to the record performance delivered in 2021"

A few weeks ago, when Goldman reported dismal Q4 earnings which saw its subprime-targeting consumer finance group report very ugly numbers, we joked that while "In 2008 Goldman made a killing on subprime; in 2022/23 Goldman is getting killed by subprime"

The final joke however appears to be on the CEO himself: on Friday, Goldman announced in a regulatory filing that it paid chief executive David Solomon $25 million for 2022, down almost 30% from the year before after the Wall Street bank reported a steep drop in profits, cut thousands of jobs and slashed employee bonuses. But don't cry for the part-time DJ: in 2021 his bonus was doubled to $35 million from the year before so he probably won't starve (then again, we doubt D-Sol's predecessor Lloyd Blankfein would even bother bending over for such pittance).


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