Bloomberg learned about bonuses to top managers of Goldman Sachs for $ 500 million

About 20 Goldman Sachs executives could receive special stock bonuses worth more than $500 million. The largest payment – more than $ 100 million – can go to the CEO of the Bank David Solomon. A final decision on the payments is expected later in October, Bloomberg reported, citing documents and sources.

Other contenders include Goldman President John Waldron, who is considered a likely successor to Solomon, as well as key executives Ashok Varadhan, Dan Dees and Mark Nachmann.

The shareholder value creation reward program was launched in October 2021. It was originally intended for Solomon and Waldron, but was expanded after shareholder questions. The payouts depend on Goldman's stock performance and the bank's performance compared to six competitors in five years.

During this period, the return on Goldman shares, taking into account dividend reinvestment, was about 150%. The bank outperformed most of its competitors, second only to Bank of New York Mellon, whose share yield reached 174%.

In the first quarter of 2026, Goldman Sachs increased revenue by 14% compared to the same period last year to $ 17.23 billion. Net profit rose 19% to a record $5.63 billion.

The remuneration of Goldman Sachs executives was previously adjusted downward. At the end of 2020, payments to Solomon were reduced by $ 10 million, to $ 17.5 million, due to the corruption scandal around the Malaysian 1MDB fund. John Waldron received $6 million less than a year earlier. The bank admitted its involvement in the violations and agreed to pay US authorities more than $ 2.9 billion.

Solomon took over Goldman Sachs in October 2018, succeeding Lloyd Blankfein. He has worked at the bank since 1999, and before being appointed CEO, he served as President and Chief Operating Officer.