Northlake Mall Company's CEO Makes How Much?
David Simon of Simon Property Group, which includes Northlake Mall, was the highest paid CEO in the United States in 2011. And he got the biggest raise. How much? Read on.
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I was clicking through a feature on Daily Finance yesterday, looking at the highest paid CEOs in the nation last year. It's a relatively unsurprising roster of characters.
The guy who runs The Walt Disney Co.
Les Moonves of CBS.
The guy who runs Ford Motor Co. Etc., etc.
Then I get to No. 1.
It says it's a guy named David Simon of Simon Property Group. Which didn't immediately mean anything to me until I read the company is the United States' largest mall operator.
As it turns out, that includes our Northlake Mall.
It's a mall that people in our community seem to have varied opinions about. I figured the company CEO's salary might be of some interest.
So, how much did Mr. Simon make last year?
From the story:
In addition to being the highest-paid CEO in the U.S., Simon also got the biggest raise. In 2011, he brought home $137.2 million, a 458% increase over his previous year's salary. Shares in Simon Property Group (SPG) -- America's largest mall operator -- went up by 22% last year, a promising trend in a business that has long been facing declining sales.
So, what's your take on Simon's take last year? Is it surprising? Is it excessive? Or is it irrelevant?
Tell us in the comments section below.
Jim Kinney
11:17 pm on Monday, May 28, 2012
Maybe he could afford to get the outside of the Northlake Mall building pressure washed. It's looking grungy after 30 years.
t
7:08 am on Tuesday, May 29, 2012
What any CEO or business makes is irrelevant unless you have a vested interest in the company. If you don’t like the way he runs the company or want the buildings washed, whip out your checkbook and buy the company or property. Or are you suggesting the educated elite of government should step in?
larry english
8:17 am on Tuesday, May 29, 2012
how is it that he makes more than jobs [past], gates, zuckerberg?
serious question
surely those 3 companies are worth about 1000x simon properties
how do they get paid?
what about the koch brothers?
wle
Crystal Huskey
10:33 am on Tuesday, May 29, 2012
A law was passed last year that allowed shareholders to vote on whether the CEOs would receive these exorbitant compensation packages. (The decision would be non-binding.) The majority of Simon's was in stock awards. Shareholders actually voted "no" for his compensation, which the company said they would take into account, but that they would probably pay him anyway. More info here: http://www.indystar.com/article/20120526/BUSINESS04/305260002/Simon-Property-Group-s-David-Simon-tops-CEO-pay-137-million?odyssey=tab%7Ctopnews%7Ctext%7CIndyStar.com