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Reddit CEO pay was $190M Company exists simply to extract money for the CEO. You'd have to be insane to buy any shares.
by everfrustrated 3y ago
Reddit CEO pay was $190M
Company exists simply to extract money for the CEO. You'd have to be insane to buy any shares.
- TheDong 3y agoThe source for this figure: https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm https://www.sec.gov/Archives/edgar/data/1713445/000162828024... CEO pay for 2023: 341,346 (cash salary) + 98,332,716 (stock) + 93,776,049 (options) + 792,000 (cash bonus) It's hard to really value the 190M of stock+options, though it seems like it'll be enought to buy some really nice avocado toast. Anyway though, shouldn't we be celebrating this? Isn't it the hacker news dream, creating a startup that creates zero real physical products, contributes to climate change, drives youths to addiction and worse, all while becoming filthy rich along the way.
- jdamon96 3y agoyes, we should be celebrating this. also, 1) cash comp was $1m and the $190m equity grant vests over 10 years, 2) see the comment posters username - are we surprised by this take? lol re (1): https://x.com/eshear/status/1761483016936046596?s=20 https://x.com/eshear/status/1761483016936046596?s=20
- Workaccount2 3y agoThe ultimate irony of HN is that it is full of people complaining about the very things that they themselves leverage to fuel their livelihood.
- everfrustrated 3y agoTrue. I'm impressed with the share audacity of it. But I would hope that we hold public companies to a better standard. Putting in place a 10 year options scheme before IPO so future public shareholders can't vote it down just smells.
- yread 3y agoWait, so if the ipo works out and the company's market cap is 748$ then the ceo will own (98+93)/748 25% of the company?
- deleted 3y ago[deleted]