David Solomon Net Worth (2024): Source of Income, Salary, and Career

david solomon net worth

David Solomon, an American banker, DJ, and producer, was born in Hartsdale, New York, in 1962. David Solomon net worth totals $100 million. Currently, he leads Goldman Sachs as its CEO and chairman, taking on these roles in 2018 and 2019, respectively. Before this, Solomon occupied positions as president, COO, and co-head of the investment banking division.

Known by the name DJ D-Sol, Solomon indulges in recreational electronic dance music, making his debut with “Don’t Stop” in 2018. Besides his financial pursuits, he contributes to the board of directors at the Robin Hood Foundation. Previously, he shared leadership in the Investment Banking Division starting in July 2006. Solomon’s achievements encompass a seamless transition to his presidency, active engagement with clients, the firm’s reputation, and diversification in managerial selections.

David Solomon Basic information 

Real/full name David Michael Solomon
age About 62 years
Net worth $25 million
Profession Investment banker, DJ, producer
Partner Mary Solomon

Net Worth

David Solomon net worth is around $54 million as of 2024-01-02. He possesses about 140,681 units of common stock in the company. Over the past 6 years within Goldman Sachs, Solomon has liquidated holdings totaling a noteworthy $163.54M.

In 2016, he vented his New York City apartment for $24 million, simultaneously acquiring an Aspen, Colorado estate for $4 million in 2004, later listing it for $36 million in 2016. An unfortunate incident in 2018 involved his assistant pilfering approximately 500 bottles from his prized wine collection, evaluated at $1.2 million.

Concerning compensation, in 2018, David Solomon net worth accrued a total of $23 million, including a $2 million base salary. 

Early Life and Education

David Michael Solomon comes from a family with a publishing executive father, Alan Solomon, and an audiology supervisor mother, Sandra. During his college years, he found joy in playing rugby, strolling up the Hill, and assuming the chairmanship of his social fraternity, Alpha Delta Phi. His education led him to Hamilton College in Clinton, New York, where he earned a Bachelor of Arts degree in political science and government.

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popular businessman in america

Post-graduation, he sought a two-year analyst position at Goldman Sachs but faced rejection. Undeterred, he redirected his efforts toward Irving Trust, which he fondly describes as a “bank’s graduate school.”

Career

In the late ’90s, he collaborated with various Goldman Sachs managers, sparking his shift to the  company in ’99. Aged 37, he partnered with their leveraged finance team. From 2006, he led Goldman’s investment banking division for a decade. 

While Goldman Sachs didn’t disclose his total compensation, SEC and IRS filings revealed a $1.85 million base salary with restricted stock worth about $10 million in January 2015. Solomon advised students and future Goldman employees: to know how to write and speak publicly, understand accounting, and never lose sight of their passion. Under his leadership, the bank increased pay for programmers, relaxed dress codes, modernized computer systems, introduced video interviews, and established a real-time performance review system for new hires. 

Solomon received an $11.85 million compensation package in January 2017 and 2018. It was estimated he held 224,030 (0.059%) shares of Goldman Sachs Group (GS), valued at $58 million in January 2018. In March 2020, Solomon received $27.5 million in compensation, including a $2 million salary, a $7.65 million cash bonus, and a $17.85 million long-term incentive.

David Solomon Net Worth Over the years

Year Estimated David Solomon net worth
2018 $100 million
2019 $25 million
2020 $91.7m
2021 $11.3 million
2022 91.7 million dollars

Source of income

Mr. Solomon got $25 million in total pay in the year 2022 and less than $35 million in 2021. His 2022 pay had $2 million as base salary, a cash bonus of $6.9 million, and a $16.1 million stock award linked to the bank’s future performance, as per Goldman’s report to regulators.

david solomon net worth

David Solomon net worth has led Goldman Sachs as CEO since October 2018. He’s been the bank’s chairman since January 2019. Besides banking, Solomon enjoys making electronic dance music (EDM) under the name “David Solomon” previously known as DJ D-Sol. He’s entertained crowds at clubs and music fests in New York, Miami, and The Bahamas.

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Real Estate

In terms of real estate, he put his New York City apartment up for sale at $24 million in 2016 and purchased an Aspen estate for $4 million in 2004, later listing it for $36 million in the same year. 

Performance 

Solomon, a notable figure in the music scene, showcased his talent at various events. In 2017, he stole the spotlight at the Electronic Music Awards in Los Angeles. Come 2020, he graced the stage at a Sports Illustrated Super Bowl Event in Miami, sharing it with Marshmallow and Black Eyed Peas.

In a charity event organized by Hamilton College on April 9, 2018, focused on the opioid epidemic, Solomon flaunted his remix skills with a performance of “The Pink Panther Theme.”

A significant moment in his career was the release of his cover of Fleetwood Mac’s “Don’t Stop” in June 2018. This track made waves on Sirius XM’s BPM: Electronic Dance Music Hits.

Spotify featured “Don’t Stop” on the “Happy Summer Beats” playlist with a massive 263,361 followers. Solomon’s Spotify profile boasts 550,000 monthly listeners, and his debut single garnered an impressive 8 million plays. Expanding his reach, he opened a SoundCloud account for extended musical sets and live performances.

His chart performance speaks volumes:

  • “Don’t Stop”: Reached position 39 on Billboard Dance/Mix Show Airplay.
  • “Feel Alive”: Secured the 4th spot on the Billboard Dance/Mix Show Airplay.
  • “Rescue Me”: Made a mark by reaching 4th place on the Billboard Dance Club Songs and 37th on Billboard Hot Dance/Electronica.

Appearance 

american banker

Features  Description 
Height  Six feet two inches 
Hair  Bald 
Eyes  Intensely squinted 
Build  Broad shouldered 
Presence  Commanding and authoritative 

Personal Life

Solomon, hailing from Jewish roots, tied the knot with Mary Elizabeth Solomon, formerly known as Coffey, back in 1989 when both were 27 in Bernardsville, New Jersey. However, their marital journey hit a roadblock, leading to a divorce in early 2018. Beyond the complexities of his personal life, Solomon has been a steadfast figure on Hamilton College’s board of trustees since 2005. Leaping his commitment, he assumed the role of chairman of the board, effective July 1, 2021. 

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Investments 

Total investment part he owns the fifth biggest active asset with a significant stack. He also holds approximately 14068,10 shares which is valued at around 54 million. There are many reports from the NYT that he has also put some money into luxury real estate companies.

Philanthropic activities

When it comes to Philanthropic activities he has actually participated in combating poverty and he has also been a part of the Robin Hood Foundation director team. He also announced one million black women impact which were directed to the cost of around  $2.1 investment and $23 million in many other different groups of companies and projects. He is very passionate about economic empowerment and advocates mental health. He is also working towards raising awareness and supporting the initiatives. 

Controversy 

For the controversial part, he has also faced a lot of allegations related to his ignorance and his disrespect towards the graduating at the alma matter. The seniors have accused him of many dismissing concerns suggesting climate change and despite having his unique style he has faced a lot of Criticism.

His behavior goes beyond business matters and there was a $12 million settlement which was addressed by a lawsuit accusing him of bragging about his sexual prowess to male colleagues. during the time of COVID-19, many bankers have shown discontent for the resignations.

FAQ

Did David Solomon have any kids?

Yes he got married at 27 to Mary Coffey who is a PR exec from Ogilvy & Mather. They raised two daughters, and Solomon proudly shared their pictures.

What’s David Solomon famous for?

He’s the Chairman and CEO of The Goldman Sachs Group, Inc. Before this, he was President and COO, and before that, he co-ran the Investment Banking Division from 2006 to 2016.

When did David Solomon take charge as CEO?

He took over in October 2018 and drove Goldman Sachs’ stock value up by a whopping 43%. 

Conclusion 

Learning about his career, family, and successes, David Solomon net worth tells a story of resilience, smart leadership, and standout achievements in finance. As Solomon keeps excelling and chasing his creative interests, his story stands out as one of the most diverse and successful in both business and the arts.

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