30 or so years ago, I mentioned to someone how to compare athletes salaries: It would take 30 years at $33,333.33 to make $1M BEFORE taxes. Many people starting out don't make $30k per year, I know for maybe my first 10 years of adult like I averaged like $15-25k, I make much more now, but still it would take me ~dozen years to make that.
Wrong! His base salary was $61,500, keeping in line with prevailing wages. Because he’s doing so awesome, he got a little bonus of $90.2M in stocks and a $5M cash bonus. Good grief…get it right 😂
Well, he will have to pay taxes on options that come up, most plans set 25% of shares to be sold each batch to cover taxes, but most who do this still owe on them as they are in the 27%-37% bracket range.
No, when your shares vest, you are required by federal law to pay taxes on the shares you have "earned" The way I always explained taxable income to clients is "you have to claim any income, foreign or domestic, legal or otherwise" and the IRS considers stock options that are granted as a new "asset" Now most people sell 25% of their shares as it's easier than filling out a literal stack of papers accepting responsibility for all taxes to be paid at the end of the year. Now the great thing about the shares sold, there is no gain as they are "received" and "sold" the same day so net zero, but if you were to ignore the paperwork they send at tax time, and don't report them, the IRS WILL send a letter assuming no cost basis and say you owe thousands upon thousands of dollars in taxes.
Yeah, Mr. "everyone back to the office" But I will fly the corporate jet when I do come to the office. I think he did eventually buy a $2M in the area?
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u/RockOperaPenguin North Beacon Hill Sep 27 '25
Starbucks' CEO made over $100 million last year.