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BlackRock Boosts Fink's Pay 21% to $36 Million for Last Year
The last payroll employment report noted that wages were going up.
Full disclosure: I have some BlackRock funds. This is money I'm not receiving.
Bloomberg
BlackRock Boosts Fink’s Pay 21% to $36 Million for Last Year
Annie Massa
Thu, April 14, 2022, 4:42 PM
(Bloomberg) -- BlackRock Inc. raised Chief Executive Officer Larry Fink’s total pay to $36 million for 2021, a 21% increase over the previous year. ... Fink, 69, received a $1.5 million base salary, $11.3 million bonus, $18.4 million of long-term incentive awards and deferred equity of $4.9 million, the New York-based money-manager said Thursday in its annual proxy filing.
The firm’s assets rose to a record at year-end, surpassing $10 trillion, making it the first publicly traded asset manager to reach that level. Total assets dipped to $9.6 trillion at the end of the first quarter.
The five male executives atop the world’s largest asset manager all saw their compensation packages increase by at least 15% for the year, according to the filing.
Rich Kushel, 55, who took over as head of BlackRock’s portfolio management group in a 2020 reorganization, replaced head of corporate strategy Mark Wiedman, 51, in the latest proxy lineup of named executive officers. Kushel received $11.8 million of compensation for 2021, an 18% increase from a year earlier.
(Updates with Kushel’s compensation in fifth paragraph.)
BlackRock Boosts Fink’s Pay 21% to $36 Million for Last Year
Annie Massa
Thu, April 14, 2022, 4:42 PM
(Bloomberg) -- BlackRock Inc. raised Chief Executive Officer Larry Fink’s total pay to $36 million for 2021, a 21% increase over the previous year. ... Fink, 69, received a $1.5 million base salary, $11.3 million bonus, $18.4 million of long-term incentive awards and deferred equity of $4.9 million, the New York-based money-manager said Thursday in its annual proxy filing.
The firm’s assets rose to a record at year-end, surpassing $10 trillion, making it the first publicly traded asset manager to reach that level. Total assets dipped to $9.6 trillion at the end of the first quarter.
The five male executives atop the world’s largest asset manager all saw their compensation packages increase by at least 15% for the year, according to the filing.
Rich Kushel, 55, who took over as head of BlackRock’s portfolio management group in a 2020 reorganization, replaced head of corporate strategy Mark Wiedman, 51, in the latest proxy lineup of named executive officers. Kushel received $11.8 million of compensation for 2021, an 18% increase from a year earlier.
(Updates with Kushel’s compensation in fifth paragraph.)