David Solomon Receives a Bigger Share in Goldman Sachs Group Inc. Private Equity Profit
The Goldman Sachs GS,
According to people familiar with the plans, the CEO and a close circle of lieutenants are cutting profits from the company’s private investment funds. The perk could be worth hundreds of millions of dollars to these executives over the next few years, people said, many times their annual salary depending on how those funds perform.
The bonus risks angering both shareholders and Goldman fund managers, from whose pockets the money will come.
Goldman executives and partners can only earn the carried interest if they also invest their own money in the funds, a bank spokeswoman said. With “reasonable returns on investment,” she said, executives could not earn multiples of their annual salary.
https://www.marketwatch.com/story/goldman-sachs-ceo-david-solomon-is-getting-a-slice-of-its-private-equity-profits-11650454392?rss=1&siteid=rss Goldman Sachs CEO David Solomon receives a portion of his private equity profits