SoftBank Group Corp Chief Executive Masayoshi Son’s remuneration for the past business year fell by 52 percent to 100 million yen ($915,000) including basic pay.
Son, who has spoken of the need to pay top dollar to attract talent, received the modest pay package just as his fortune was lifted by recovery in the group’s share price after a $23 billion buyback program which also boosted his ownership.
The entrepreneur’s stake in the company he founded is worth around $38 billion at Wednesday’s closing price of 8,274 yen, Reuters reported.
Simon Segars, CEO of Britain-based chip designer Arm, received the largest disclosed remuneration of 1.9 billion yen. SoftBank agreed to sell Arm to U.S. chip firm Nvidia in November in a $40 billion deal that is yet to receive regulatory approval.
A filing from the Japanese conglomerate did not reveal numeration for top SoftBank executives including Vision Fund chief Rajeev Misra and Chief Operating Officer Marcelo Claure who left the group’s board in November, as their pay after that point was not disclosed.
Misra’s disclosed remuneration was 931 million yen ($8.5 million) – down 42 percent when compared with the year prior, when he sat on the board for the full 12 months. Claure’s remuneration fell 15 percent to roughly 1.8 billion yen, with his package including the cost of his relocation to the United States.
In total eight executives received $64 million, including former strategy chief Katsunori Sago who has since left the firm.
SoftBank announced further changes to its board last week including the nomination of a gaming industry executive Keiko Erikawa, chair of Koei Tecmo Holdings.
A veteran stock picker who has known Son for many years, Erikawa owns SoftBank shares worth around $7 million.
