Wetherspoons’s chairman Tim Martin has an extra £50m in his pocket” after selling almost 4.4 million shares in the pub chain last week, says The Daily Telegraph. The share sale has reduced his stake in the FTSE 250 pub operator to just under 21.9%, down from 25.2%, worth about £330m.

It followed a previous sale in December when he sold a stake worth £5m and a similar tranche last summer. Martin has agreed not to sell any more shares in the business until results for the year to the end of July are released in Septemeber 2021.

Goldman Sachs

Wall Street bank Goldman Sachs has cut the pay of its chief executive, David Solomon, by $10m after it was forced to pay “billions of dollars” to settle an international investigation into its role in the 1MDB affair, a political corruption scandal centred on the Malaysian company, says The Guardian.

Solomon was nevertheless granted a $15.5m bonus on top of his $2m salary for the banks bumper performance last year. He earned $27.5 m in 2019.

Source: https://moneyweek.com

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