Nikesh Arora, the Indian-born president of SoftBank Group, received a salary package of $73 million or Rs 500 crore in 2015-16, making him one of the top paid executives in the world for the second straight year, a Bloomberg report said.
As per the report, Arora's pay package stood in the same bracket as those of Apple Inc. Chief Executive Officer Tim Cook and Walt Disney Co.’s Bob Iger. In fact, Masayoshi Son, SoftBank’s founder and CEO, received compensation totaling $1.2 million.
Arora, who joined SoftBank in mid 2014 as senior vice president, had created a record of sorts then as his pay package was estimated at $150 million, which Softbank later clarified, included Arora’s joining bonus, an HT report said.
According to Bloomberg’s executive-pay analysis, Patrick Soon-Shiong is currently the highest-paid CEO, with compensation valued at $329.7 million at NantKwest Inc., a cancer-research company.
Among non-CEOs in the U.S., only Blackstone Group LP President Hamilton Evans James had a bigger pay package than Arora. By comparison, Lloyd Blankfein, Goldman Sachs Group Inc.’s CEO, was paid $33.1 million.
Arora’s compensation includes 1.56 billion yen paid by other SoftBank units, according to a proxy issued by the mobile and Internet company on Thursday. SoftBank’s Ken Miyauchi, who runs the domestic business, was awarded 317 million yen, said Bloomberg report.
Arora has led SoftBank’s investments in India’s e-commerce provider Snapdeal.com, ride-hailing service Ola Cabs, real-estate website Housing.com and hotel-booking app Oyo Rooms. In October, SoftBank led a $1 billion fundraising round for U.S.-based online lender Social Finance Inc.
With agency inputs
Published Date: May 26, 2016 19:44 PM | Updated Date: May 26, 2016 19:44 PM