Forum Topics CEO Salaries
Rudyboy
2 months ago

To be honest when it's a private company what you get paid is what the company profits can afford. One good reason not to be listed or go back to Private Equity is to keep these nasty tales out of the public domain.

In Perth we have the inventor and his father that took VGW from worth bog all to over $2bn in a very few years. Laurence has three Buggatis amongst his huge car collection of purported to be over 70 cars. Have a look at the Lee collection. They are premier sponsors of Scuderia Ferrari.

The guy is a good guy who has worked hard but no doubt hit the mother load. I believe his divvy cheque last year was $160m as was his Dad's.

Do Bet365 may not be so far out of the market.

9
NewbieHK
2 months ago

“Not sensible and proportionate”

Some other choice words come to mind after reading this!

Unbelievable!


The founder and boss of gambling company Bet365 earned a salary of around $281 million (£221 million) in the last financial year – ending March 26, 2023. The figure was described as not “sensible and proportionate” by one campaign group.

Denise Coates, the joint-chief executive and majority shareholder of Bet365, also earned at least 50% of the company’s $127 million (£100 million) in dividends on top of her $281 million salary, company accounts published on Sunday show.

Her base salary is an increase of about $10 million compared to last year, even as Bet365 made pre-tax losses of around $77 million (£60.2 million). The company accounts attribute the losses to “a significant increase in costs associated with entering into new markets.”



15

Strawman
2 months ago

That does some like an egregious level of pay @NewbieHK -- especially for someone who is already worth over $3.6 Billion!

Still, it's a private company owned by the family, so I guess they can do what they like.


9

AUROPAL
2 months ago

@Strawman exactly, it's a family owned private company so they can do what they like.

I sure wouldn't want to be a minority shareholder though!

Didn't the former CEO of WeWork also pay himself some unjustifiable amount of money?

Although it is a little strage as, unless they're domiciled in a very tax friendly country, that level of pay would be hugely eaten up by tax. You'd think they'd prefer to pay it out as dividends to a trust or some other more tax effective vehicle than purely salary.

10

Karmast
4 weeks ago

It seems like a rounding error compared to the A $80 billion package Elon was awarded by the Tesla Board a few years back. Admittedly the hurdles were high and they probably didn't think he'd be eligible for that much...and fortunately a US court this week scrapped it in response to a shareholder action about the excessive nature of it!!!

10