Goldman Sachs CEO makes over $50 million

Well, this was pretty much expected. Still, the sum staggers. Lloyd Blankfein, the CEO of Goldman Sachs has set a new pay record. The compensation committee has handed him $27.3 million in cash, $15.7 million in restricted stock and options to buy Goldman stock valued at $10.5 million. That comes out to about $54 million. Whew! Last year, he made about $38 million. Now the final figure depends on the stock price, which could always tank. But the $27.3 million in cash is, well, cash! So Morgan Stanley CEO John Mack's record lasted less than a week. Compensation critics aside, Blankfein earned his money. Goldman had another record-breaking year. The good times will likely roll into 2007, but perhaps not to the same extent. Gravity has to take hold at some point.

For more:
- here's a New York Times article