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Gambling company CEO sees gigantic salary fall by 94 percent (but he still got $14 million)
https://www.whatjobs.com/news/business-news/gambling-company-ceo-sees-gigantic-salary-fall-by-94-percent-but-he-still-got-14-million
By Kris Paterson in Business News, posted May 5, 2022
Jason Robins, chief executive of US sports-betting Company DraftKings, raked in total compensation of $14.03m for 2021, a fall of 94 percent from the year before, says MarketWatch.
Robins was paid $236.83m in 2020, but increased competition, rising operating costs and mismanaged growth saw net losses increase to £1.12bn and his pay package shrink. The CEO's salary fell to $112,500 from $650,000 and he received no bonuses.
The value of Denise Coates, co-chief executive officer of UK gambling firm Bet365 Group, earned £300m in pay and dividends for the financial year to March 2021, making her one of the world's best-paid bosses, says Bloomberg.
READ MORE: THE VIDEO GAME CEO WHO TOOK A 99.9 PER CENT PAY CUT UNTIL ‘FRAT BOY’ CULTURE WAS WIPED OUT
She owns a majority stake in Bet365, which despite disruption from the pandemic, posted revenues of £2.8bn over the same period.
Bill Gross, CEO of solar power start-up Heliogen, pulled in a pay package for 2021 worth $37m, says Bloomberg.
Gross's award consists largely of stock options that will vest in four years' time if he can raise the shares above $9. If he makes it, he will be more highly paid than Goldman Sachs' CEO, who received a $35m package last year.
Kris Paterson is a writer for WhatJobs.com.
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