Even as the US stock market continued its free-fall due to the coronavirus pandemic, the top banker at Goldman Sachs got a pay raise of $2 million a year, a $7.65 million cash bonus, plus stock options worth $17.85 million.
His compensation package is the biggest for a Goldman Sachs CEO since Lloyd Blankfein took home $41 million in 2007, right before the mortgage collapse. It was was reported on Friday, after the US stock markets closed on yet another abysmal week, amid the economic downturn brought on by the fear of Covid-19.
Millions of US companies have shuttered, some permanently, as New York and California went into lockdowns and all mass gatherings across the US were canceled, with no end in sight.
News of Solomon’s big payday was not particularly well received by Americans quarantined across the nation. Reactions ranged from anger – that this was just “asking for riots” – to snark about hoarding wealth the way some panicked shoppers hoarded toilet paper.