David Solomon also received a 26% hike in his compensation for 2024 that pushed his salary to $39 million |World Economic Forum|CC BY-NC-SA 2.0
Goldman Sachs awarded CEO David Solomon a $80 million stock bonus to have him lead the company for the next five years. The bank’s COO also received the same retention bonus.
The bonuses will vest in five years.
Apart from the bonus, Solomon also received a 26% hike in his compensation for 2024, pushing his salary to $39 million, marking a turnaround for a leader who was under scrutiny after the company’s unsuccessful entry into consumer banking.
The move comes days after Goldman announced that it doubled its profits in the last quarter of 2024 compared to the year earlier.