Howard Stern - Rich Guy
I really haven't been paying much attention to Howard Stern's success at Sirius, but at the moment it is all over the news that Stern got an $83m bonus through stock compensation - 
Firstly, I didn't know that his contract was for 5 years for a total amount of compensation of $500m. 500 MILLION! To my knowledge this amount is separate from the $83m bonus payment.
Apparently, according to the article, the number of Sirius subscribers totalled 600,000 when Stern signed. They also agreed to a bonus if the number of subscribers at the end of 2006 eclipsed analyst expectations by 2 million - in the end, Sirius subscribers have increased ten fold over the course of the past two years. This is an unbelievably phenomenal growth rate over ten years or longer let alone two.
This is what I call results-based compensation. Its fairly obvious that Stern has affected Sirius in a major way - not so obvious for Goldman Sachs' CEO, who just got a $52m bonus.
Still though - Howard Stern is becoming one of the richest entertainers in the world in a relatively quiet manner - people make a lot less of a fuss over his compensation than corporate officers.
Firstly, I didn't know that his contract was for 5 years for a total amount of compensation of $500m. 500 MILLION! To my knowledge this amount is separate from the $83m bonus payment.
Apparently, according to the article, the number of Sirius subscribers totalled 600,000 when Stern signed. They also agreed to a bonus if the number of subscribers at the end of 2006 eclipsed analyst expectations by 2 million - in the end, Sirius subscribers have increased ten fold over the course of the past two years. This is an unbelievably phenomenal growth rate over ten years or longer let alone two.
This is what I call results-based compensation. Its fairly obvious that Stern has affected Sirius in a major way - not so obvious for Goldman Sachs' CEO, who just got a $52m bonus.
Still though - Howard Stern is becoming one of the richest entertainers in the world in a relatively quiet manner - people make a lot less of a fuss over his compensation than corporate officers.