Goldman Sachs Gives CEO MASSIVE Pay Raise As Wall Street Demands Government Bailouts

Goldman Sachs CEO David Solomon and his top lieutenants all received massive pay raises on Friday, as Wall Street demands multi-billion dollar government bailouts because of the coronavirus.

Goldman Sachs CEO David Solomon and his top lieutenants all received massive pay raises on Friday, as Wall Street demands multi-billion dollar government bailouts because of the coronavirus.

Chief Executive David Solomon got a 19% raise in 2019, a message likely to resonate poorly among traders and bankers who saw their own bonuses cut and who are facing a long period of economic uncertainty,” The Wall Street Journal reported Friday.

Mr. Solomon earned $24.7 million in 2019, the bank said Friday, including a $7.7 million cash bonus and almost $15 million in stock. That is up from $20.7 million the year before, most of which he spent as CEO-in-waiting, and makes him Goldman’s best-paid chief since Lloyd Blankfein took home $41 million in 2008,” the newspaper reported.

His top lieutenants also received pay bumps. John Waldron, the banks’ president and chief operating officer, was paid $22 million and finance chief Stephen Scherr received $20 million,” The Journal noted.

The pay raise came as Wall Street is seeking multi-billion dollar government bailouts due to the COVID-19 coronavirus.

Baxter Dmitry

Baxter Dmitry

Baxter Dmitry is a writer at Your News Wire. He covers politics, business and entertainment. Speaking truth to power since he learned to talk, Baxter has travelled in over 80 countries and won arguments in every single one. Live without fear.
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Baxter Dmitry