David M. Solomon Bio, Salary, House, Religion, Goldman Sachs

David M. Solomon photo
David M. Solomon photo

Last updated on Nov 3, 2022 at 12:24 AM

Originally published at FamousIntel.com

David M. Solomon Biography and Wiki

David M. Solomon is a US-based investment banker who serves as CEO of Goldman Sachs, a position he has held since October 2018. Additionally, he has served as the chairman of the bank since January 2019. From January 2017 to September 2018, Solomon served. President and Chief Operating Officer. From July 2006 to December 2016, he shared leadership of the Investment Banking Division. From January 2017 to September 2018, Solomon served as CEO. On October 1, 2018, Solomon officially took over as CEO, replacing the retired Lloyd Blankfein. After Blankfein left, Solomon was named president.

David M. Solomon Education

Before working as a camp counselor in New Hampshire, Solomon attended Edgemont Junior-Senior High School and did some part-time work at nearby Baskin-Robbins. Before graduating, he earned a Bachelor of Arts degree in political science and government from Hamilton College in Clinton, New York. He participated in rugby while attending college, loved hill climbing, and served as president of his social fraternity, Alpha Delta Phi. He applied for a two-year analyst position at Goldman Sachs after graduating but was turned down. This prompted him to submit an application to the Irving Trust, which he describes as a “graduate school”. [a] Bank.”

David M. Solomon Age and Birthday

Solomon is 60 years old by 2022. He was born as David Michael Solomon in 1962 in Hartsdale, New York, the United States of America.

David M. Solomon Nationality and Ethnicity

Solomon is of American nationality by birth. He was born in Hartsdale, New York, United States. He is of Jewish heritage. Also read: Oscar Munoz

David M. Solomon Parents

Solomon’s mother, Sandra, worked as an audiology supervisor, and his father, Alan Solomon, was an executive vice president of a small publishing company.

David M. Solomon Wife

Solomon married Mary Elizabeth Solomon (aka Coffey) in 1989 in Barnardsville, New Jersey. In early 2018, they got divorced.

David M. Solomon Height

Solomon stands at an average height of 6 feet 2 inches (188 cm).

David M. solomon net worth

Solomon has an estimated net worth of $58 million.

David M. Solomon House

Since 2002, Solomon has been a resident of The San Remo on Manhattan’s Upper West Side. In May 2016, he put the apartment up for sale for $24 million. He paid $4 million for a 13,000-square-foot property in Aspen, Colorado in 2004 and listed it in July 2016 for $36 million.

David M. Solomon Dharma

Solomon is Jewish.

David M. Solomon Salary

Solomon’s total compensation for 2021 will be $35 million. The $17.5 million he was awarded for 2020 is more than double that amount.

David M. Solomon Goldman Sachs

As a result of his conversations with various Goldman Sachs managers in the late 1990s, he joined the company in 1999 at the age of 37 to join its leveraged finance team as a partner. His departure from Bear Stearns “shocked” his contemporaries as they felt he was “on the lead in Bear.” In 2006 he was promoted to the position of Division Head of Investment Banking at Goldman, where he served for the next ten years. In a meeting where the suit was required to “throw everyone away”, he achieved Lululemon Athletica’s initial public offering (IPO) in July 2007, while wearing a maroon blazer and sweatpants, a sample of the brand’s clothing. .

To “pick out under-performers,” they implemented “year-end compensation roundtables,” where they’d grill executives with inquiries about their corporate strategies. After his departure, the investment banking department was credited with becoming more professional, with profit margins increasing from 11% to 22% and sales increasing by 70%. He received an offer in April 2014 from Drexel Burnham client Sheldon Adelson to give Solomons operational control over the Las Vegas Sands casino. Adelson was “unwilling to relinquish day-to-day control, and [he] Not wanting to be a student, according to Solomon, who turned down the offer.

Goldman Sachs did not disclose Solomon’s total compensation package, but according to SEC and IRS filings, he received a basic salary of $1.85 million in January 2015 and a restricted stock award of about $10 million. In December 2016, Solomon and Harvey Schwartz were promoted to president and co-chief operating officer after then-President of the United States, Donald Trump, leaving Gary Cohn’s Goldman. Solomon in a series of interviews in October 2017 provided advice for students and potential Goldman employees: Become proficient in accounting, learn to write and speak publicly, and never lose sight of your passion.

Programmer salaries have been increased, dress codes have been relaxed, computer systems have been modernized, video interviews have been implemented, and a “real-time performance review” system developed for new employees at the bank under Solomon’s leadership Has been. In January 2017 and January 2018, Solomon received a compensation package totaling $11.85 million. Solomon reportedly owns 224,030 (0.05%) of Goldman Sachs Group (GS) shares, which were valued at $58 million in January 2018. Solomon received approximately $27.5 million in compensation in March 2020. This was made up of his base salary of $2 million, which made up his basic salary and a cash bonus of $7.65 million. He also received a long-term incentive payment of $17.85 million on top of this.

Schwartz, the company’s co-chief operating officer and chairman, announced his resignation on March 12, 2018, leaving Solomon as next-in-command. Several hours after the announcement, national and international media outlets formally named Solomon as Lloyd Blankfein’s sole successor. On February 21, 2018, Blankfein expressed interest and priority in succeeding Solomon at a board meeting. Solomon has often argued in favor of changing the corporate culture at Goldman. When not actively involved in closing a deal, he expressed interest in reducing the maximum hours worked during normal business days from about 90 to about 70 to 75 hours per week.

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He oversaw the work of his subordinates before taking over as the company’s president and frequently intervened to send workers home. Solomon was appointed CEO of the company on October 1, 2018 and has held the position since then. Solomon’s compensation was to be reduced by 36% in 2020, after Goldman Sachs admitted his involvement in the 1MDB scam in 2021. As a result, Goldman had to pay nearly $3 billion to four governments in October 2020 to end investigations into his work. Done for 1MDB. Solomon was compensated with a package of $27.5 million in 2019 and a package of $17.5 million in 2020.

The Hong Kong Democracy Council claims that Solomon’s appearance at the Global Financial Leaders Investment Summit in November 2022, along with other financial officials, will confirm how the Hong Kong government is covering up the loss of independence in the region. The presence of US financial officials would only legitimize the Chinese Communist Party’s quick destruction of Hong Kong’s autonomy, free press and rule of law, according to several members of Congress who advised them against attending the summit.

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