As it turns out, $7.5 million is a popular figure by which to bump executive compensation at Goldman. That’s the difference between Ruemmler’s 2020 and 2021 pay. And Waldron’s. And CEO David Solomon’s. The chief executive made $35 million in 2021 — $7.5 million over the $27.5 million he would have pulled in, were it not for the $10 million clawback he saw in relation to 1MDB.
Goldman announced in October it was awarding one-time stock-based incentives, worth in the tens of millions, to Solomon and Waldron. The move was meant to “ensure leadership continuity” for at least the next five years, the bank said at the time. But Goldman in January bestowed similar yet presumably smaller rewards on its approximately 400 partners.
