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Cantor Chief Lutnick’s $50 Million Bonus Was Undeserved, Lawsuit Says

  • Newmark directors placated chief with payout, investor claims
  • Whether Lutnick added $500 million value to unit is in dispute
Howard Lutnick

Howard Lutnick

Photographer: Scott Eisen/Bloomberg

Cantor Fitzgerald Chief Executive Officer Howard Lutnick faces allegations he improperly got a $50 million bonus after “blowing smoke” that he’d added value to the company’s Newmark commercial real-estate unit.

Newmark directors agreed in December 2021 to award the one-time bonus to Lutnick -- who serves as the unit’s principal executive officer and board chairman -- for his help in monetizing shares of the Nasdaq stock-trading platform that Newmark acquired in a 2017 spinoff, according to a lawsuit filed in Delaware.