Skip to main content

Home  »  Employment News   »   WHO’S GETTING WHAT? David Beckham, WeWork, AMC Entertainment

WHO’S GETTING WHAT? David Beckham, WeWork, AMC Entertainment

WHO’S GETTING WHAT?

Who is getting what pay?

David Beckham

Former England footballer David Beckham has netted a £4.5m paper profit as Cellular Goods, the cannabis company that he has backed, soared on its stock market debut, says The Times. Beckham had paid £250,000 for his 5% stake at the end of January, paying 1p a share. The shares were priced before the initial public offering at 5p but closed 280% higher after their first day of trading at 19p.

WeWork

Adam Neumann, the co-founder and former chief executive of WeWork the shared office space provider, is set to reap an extra $50m special payout and receive a five-year extension to a $430m loan made to him in 2019 by WeWork's majority shareholder, Softbank according to The Wall Street Journal. The proposed agreement would end a bitter dispute involving Neumann and Softbank, which will see Softbank buy around $1.5bn of stock including almost $500m from Neumann.

AMC Entertainment

US cinema chain AMC Entertainment, one of the stocks at the centre of the Reddit share buying frenzy at the end of January, has approved a $3.75m bonus for its chief executive, Adam Aron, says Reuters. Other senior executives are also entitled to bonuses from $173,000 to $507,000 as a means to preserve stockholder value during the pandemic. The Kansas based company avoided bankruptcy through a debt restructuring deal last year.

Nice work if you can get it!

Sundar Pichai, boss of Google's parent company Alphabet, has topped a list of America's 100 most "overpaid" chief executives after earning $280.6m in 2019, says Keith Griffith in the Daily Mail. The rankings, released by non-profit shareholder advocacy group As You Sow, compares executive compensation to a company's shareholder return over the past five years to determine "excess" pay. In 2019, Pichai earned 1,085 times the median employee's pay at Alphabet.

As You Sow calculates that around 95% of that is "excessive". David Zaslav of broadcaster Discovery was second on the list, earning $45.8m; CVS Health Corporation's Larry J. Merlo was third with $36.5m. Discovery, Disney and Comcast were singled out as the worst of the "repeat offenders", paying high sums despite consistently underperforming their CEO pay increased by 14% in 2019 from the previous year to an average of $21.3m.

Source: moneyweek.com

Kris Paterson is a writer for www.whatjobs.com the global job search engine