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Solomon the King

Goldman Sachs just gave C.E.O. David Solomon 80 million reasons to stick around for another five years. It also provided a plan for succession—the sort of road map that is still egregiously absent among some of Goldman’s largest peers.

David Solomon
In any case, Solomon should be well compensated for the year Goldman just turned in. In 2024, Goldman generated net revenues of $53.51 billion, net earnings of $14.28 billion, diluted earnings per common share of $40.54, and a return-on-equity of 12.7 percent—one of the firm’s best years ever. Photo: Jeenah Moon/Bloomberg/Getty Images
William D. Cohan
January 23, 2025

Earlier this week, in a filing with the S.E.C., Goldman Sachs announced that C.E.O. David Solomon would be sticking around for at least another five years—when he’ll be 68, the same age that the unmovable Jamie Dimon is now. To entice Solomon to stay put, the Goldman board of directors awarded him a restricted stock package worth $80 million, but only if he remains the Goldman C.E.O. until 2030, and doesn’t do anything that would get him fired for cause.