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16/06/2021

WHO’S GETTING WHAT? AstraZeneca, Ocado, Tesla

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AstraZeneca

AstraZeneca’s French chief executive Pascal Soriot received a base salary of £1.29m, an annual bonus of £2.3m and payouts under a long-term incentive scheme worth £11.1m for 2020, says the Financial Times. Future payouts could swell his £15.4m package even further after a year in which he oversaw the launch of one of the world’s most promising coronavirus vaccines. His total pay is 197 times that of the Cambridge based company’s median worker and rose by £140,000 from 2019. Soriot is also due to receive a 3% salary raise for this year.

Ocado

Ocado boss Steiner and co-founder Tim Steiner will be granted 2.45 million shares in the online supermarket, worth around £66.2m. This will be the biggest share a bonus scheme has awarded, with a total of £116m in stock to four directors after Ocado’s market value soared to £20.2bn on the back of the pandemic boom in grocery home shopping, says The Guardian. The shares have more than doubled in the past year, although the firm has never made a profit.

Tesla

Kimbal Musk has sold shares worth $25.6m in Tesla, the electric car-maker run by his older brother, Elon Musk. The younger Musk, 48, who sits on the company’s board, sold 30,000 shares at an average price of $852.12 on the 9th of February. The sale still leaves Kimbal with 599,740 shares in the business, worth around $483m, says Bloomberg. In 2020, the shares rose by 743% and they have risen by a further 14 % so far this year.

Nice work if you can get it!

The 15 highest-earning hedge-fund managers in the Bloomberg Billionaires index collectively made an estimated $23.2bn in fees in 2020, “a year that will loom large in the annals of Wall Street”, says Tom Maloney and Hema Parmar on Bloomberg. That’s more than enough money to buy GameStop, two AMCEntertainments and four Bed, Bath & Beyonds. Not shares but the entire companies. Chase Coleman of Tiger Global was the biggest winner, personally gaining $3bn in 2020, followed by Jim Simons of Renaissance with $2.6bn and Izzy Englander of Millennium with $2.2bn. That 15 people could earn so much so quickly starkly illustrates the widening rift between the ultra-rich and everyone else at a time of heightened unemployment and division over the scope of government response.

Source: moneyweek.com

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

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