Goldman Sachs Group Inc. boosted Chief Executive Officer David Solomon's pay to $47 million, capping a year in which the investment bank's shares soared and its leader reasserted his control at the top.
The board handed Solomon a $2 million base salary and $45 million as bonus in the form of shares, cash and carried interest, according to a filing Friday.
That's a 21% increase from his 2024 pay, when he was awarded a $39 million package, as well as a major multiyear retention bonus.
The figure came in higher than the $43 million awarded to JPMorgan Chase & Co. CEO Jamie Dimon for 2025.
Under Solomon's leadership last year, Goldman posted record revenue in its banking and markets division and record management fees in its asset-management business.
Aided by a growing U.S. economy and lighter regulatory environment, its shares rose by nearly 54% last year, ahead of rivals Morgan Stanley and JPMorgan, though behind Citigroup Inc.
Solomon's pay package follows the announcement last year of a pair of $80 million retention awards to the CEO and John Waldron, the firm's president.
Along with Goldman's share price, the awards have already risen in value by about 50% since their grant date in January last year.
At the same time, the firm launched a program to give some of its top leaders a slice of carried interest earned on its private-markets funds run in the asset-management business.
(Credit: Al Drago/Bloomberg)
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