this post was submitted on 28 Feb 2024
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I just read yesterday that Spez was paid $193M last year. Idk if that's accurate (it seems very high), but if it is, y'all might start looking there for the missing money
The $193 million figure is misleading because the majority of it is stock, so that number isn't cash and is just an estimate of value since there isn't even an open market for the stock. The IPO will show how much it's really worth I guess.
He was paid a little over a mil in actual salary + bonus, which is still too much but not nearly as ridiculous.
That's an enormous stock package. Stock carries real value, and when the stock IPOs he could have considerably more value than the current estimate. Even huge companies with billions in profits don't generally give their CEO such a large compensation package for a single year. The decision to award that to him certainly raises questions about management's competence. Well, it raises additional questions, since I don't think anyone doesn't already have questions about their competence.
From what I understand, a relatively small part it is his actual salary, and most of it is deferred compensation.