All the news in the last few days has been about bonuses. And today is no exception.
The Evening Standard reported earlier this week that Driss Ben-Brahim, Goldman's New York-based head of prop trading, is likely to get a bonus of around $100m for his efforts this year. And that works out that he'll even make $7,142 in bonus during his daily 'rest' periods (surely even Goldman traders have to go to the can). Now that is taking a 'P'!
And ABC News has worked out what someone like Ben-Brahim could do with a $100m wad:
Immunize more than 40,000 impoverished children, throw a birthday party for your daughter and one million of her closest friends, and buy a different colour Rolls Royce for each day of the week.
Feed 800,000 children for a year, create four Tom Cruise - Katie Holmes-type weddings, buy one of Mel Gibson's private islands, and still remain a millionaire nine times over.
Pay Harvard tuition for more than 1,500 students who couldn't afford it, provide health care to over 1,000 Americans for a year, and still have enough to buy a different Brioni designer suit for every day of the year.
Take everyone in Grenada to a Broadway show, buy the most expensive apartment in New York City, and still have $15m change (over 300 times the median income of the average US household).
Buy everyone in Kansas City a pair of Manolo Blahnik shoes, and still have $40m left - more than 50 times the average doctor's salary in the US.
Purchase 1,000 tables at your favourite charity ball, provide winter blankets for 350,000 children in developing countries, pay a Chelsea soccer star's salary for 4 years, and still have change to acquire your own private Boeing jet.
Finally, with all this talk of $100m bonuses, spare a thought for Morgan Stanley CEO John Mack. Reuters reports that, according to a regulatory filing Thursday, Mack only bagged a $40m bonus this year (including stock and options). And Goldman boss Lloyd Blankfein is expected to take home just $50m for his efforts in 2006.
Sources - Reuters, ABC News, Dealbreaker
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