Finance

Goldman Gives CEO Solomon $80 Million to Stay Put, Raises Pay by 26%

Retention bonuses are second such awards given in recent years
Bank boosts Solomon’s annual pay by 26% to $39 million

Chief Executive Officer David Solomon — Chief Executive Officer David Solomon
Photographer: Jeenah Moon/Bloomberg

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By Todd Gillespie

January 17, 2025 at 2:18 PM UTC

Updated on

January 17, 2025 at 4:35 PM UTC

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Goldman Sachs Group Inc. handed its top two executives retention awards valued at $80 million each and launched a program to give its leaders a slice of carried interest earned on private equity funds as it tries to compete on pay with top alternative-asset managers.

The retention awards are the second in just over three years given to Chief Executive Officer David Solomon and President John Waldron, who is also the chief operating officer. They “reflect the Board’s desire to retain the current CEO and COO as a senior leadership team,” according to a filing Friday.