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The billionaire boss of American casino operator Las Vegas Sands Corporation reportedly took home some 62.4% of the almost $39.6 million the firm recently handed out to its top five executives.
According to a report from GGRAsia, Sheldon Adelson (pictured) serves as Chairman and Chief Executive Officer for the Las Vegas-headquartered firm and is said to have pocketed approximately $24.7 million in total compensation, which had included a maximum allowable performance-related bonus of around $12.5 million.
Familial funds:
GGRAsia reported that Adelson helped to establish Las Vegas Sands Corporation 21 years ago and takes a base salary that is thought to comprise other incentives such as earnings-related bonuses and stock options. The 86-year-old and his family moreover purportedly hold about 57% of the shares in the New York-listed company, which means that they are also entitled to a stake of its annual dividends.
Bonus bonanza:
Las Vegas Sands is the parent of Macau casino operator Sands China Limited and reportedly revealed that its President and Chief Operating Officer, Robert Goldstein, had been awarded with an annual payout worth about $8.3 million. The operator purportedly used an official filing to declare that this remuneration for the 63-year-old had included $3.4 million paid ‘with respect to the company’s 2019 performance, representing 100% of his target bonus opportunity’.
Triumphant trio:
Regarding the three remaining Las Vegas Sands Corporation leaders, the source reported that the firm’s former Executive Vice-President and general counsel, Lawrence Jacobs, walked away with around $2.7 million while its Executive Vice-President and Chief Financial Officer, Patrick Dumont, was compensated to the tune of about $2.4 million. There was also Adelson’s son-in-law, Zachary Hudson, who was rewarded with $1.5 million despite only taking over from Jacobs in October.
Endangered encounter:
In related news and Las Vegas Sands Corporation recently reportedly proclaimed that it may be forced to hold its upcoming annual shareholders meeting in a ‘virtual-only format over the Internet’ owing to the ongoing public health crisis in the United States. The firm purportedly stated that the gathering was due to take place on May 14 from The Venetian Resort Las Vegas but may now be subjected to ‘additional procedures or limitations’ that could moreover involve a postponement.
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