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Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year
(www.thedailybeast.com)
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this post was submitted on 23 Feb 2024
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I mean, Fuck Spez and Reddit and all but the article is clickbait, he was paid about $370k salary plus a bonus and the vast majority was shares.
How is that clickbait? Calling income "a bonus" doesn't mean it isn't money being paid out by the company. When my company gives me shares, it's still income that I pay taxes on because it's something with a tangible value that can be easily converted into cash.
CEO salary being a small fraction of their total compensation is extremely common because wages are taxed higher than everything else. They structure it like this to avoid taxes. Bill Gates and Mark Zuckerberg were/are paid $1 per year base salary and they're two of the wealthiest people on the planet.
Sure, but the stock is illiquid until after the IPO, and its current value is only based on the value estimate given for the purpose of the IPO.
He will still make bank unfortunately, but its not unusual for new IPOs to give stock options to CEOs with ridiculous values that don't really mean anything until the stock is publicly trading and a true value is established by the market.
The fact that this is a common occurrence in our capitalist society in no way invalidates the fact that it's complete and utter horseshit.
Agreed 100%
The boy who cried clickbait. Stop using that as an excuse because you don't like reality.