THIS is America’s highest paid boss: Billionaire Trade Desk CEO Jeff Green, 45, raked in $830 MILLION pay packet in 2021… but vows to give 90% of his fortune away before he dies
- Jeff Green was given the eyewatering sum by California-based firm Trade Desk
- The 45-year-old, worth around $3.8bn, raked in the majority of it due to stocks
- But he may also hold billions worth of additional shares after the payout last year
- Experts said it meant he was the highest paid CEO across the 358 S&P 500 firms
The head of a digital advertising firm has been handed a staggering $830million in the biggest pay check for a CEO in America so far.
Jeff Green was given the eyewatering sum by California-based Trade Desk, which said it matched the interests of the board and shareholders.
The 45-year-old businessman, who is worth around $3.8billion, reportedly raked in the majority of the funds after a stock award became available to cash in.
But he may also now hold billions of dollars worth of additional shares following the payout last year.
Experts said the figure meant he was the highest paid CEO across all 358 S&P 500 firms that have declared pay packages so far.
It even surpassed the totals unveiled by big spending private-equity firm KKR & Co, talent agency Endeavor Group Holdings and gaming site Roblox Corp.
But Trade Desk said Mr Green signed the Giving Pledge and wants to give away 90 per cent of his wealth before he dies.
It comes as CEO pay surges to potentially record levels as annual compensation spikes at around $14million as the pandemic recedes.
The 45-year-old businessman (pictured), who is worth around $3.8billion, reportedly raked in the majority of the funds after a stock award became available to cash in
Director of Research at VerityData Ben Silverman said Mr Green’s huge pay ‘certainly stands out’.
He told the Wall Street Journal: ‘This certainly stands out in terms of the magnitude of the potential dollar amount.’
He added the businessman’s large personal investment in Trade Desk meant it was of interest to him to boost its share price, with investors left to decide on the rewards.
The cash can be broken down into his $965,000 salary, a $1million bonus, a $2.7million cash annual-incentive payment and $1.9million in tax costs.
But it could rocket into the billions if the firm’s price rises due to the number of shares he owns.
Mr Green has 49 per cent of voting power at the multinational technology company as well as 1.1 per cent of Class A shares and 97.7 per cent of lucrative Class B shares.
Trade Desk’s share price was on target or above $90 for 30 days until the middle of January, meeting the requirements for vesting.
But he may also now hold billions of dollars worth of additional shares following the payout last year
TRADE DESK SHARES OVER THE LAST DAY:
TRADE DESK SHARES OVER THE LAST MONTH:
TRADE DESK SHARES OVER THE LAST SIX MONTHS:
TRADE DESK SHARES OVER IN THE YEAR TO DATE:
The billionaire businessman co-founded Trade Desk in October 2009 and has served as its CEO since.
Two years earlier he had sold an early online advertising exchange he founded to Microsoft Corp.
Mr Green started off at Brigham Young University in his native Utah which he left with a bachelor’s in 2001.
He went on to the University of Southern California where he gained a degree in marketing communications.
After finishing his studies he joined 411 Web Interactive in Culver City, California, and served as director of operations.
From here he went on to be VP of operations and marketing at eBound, where he stayed for three and a half years.
He then set up King of Search.com, where he stayed for five years until January 2006, as well as being COO of AdECN.
He sold this to Microsoft Corp in 2007 but stayed on as COO of Ad Exchange at the firm before creating Trade Desk.
Mr Green lives in the exclusive Newbury Park in Thousand Oaks, California, which is north west from LA.
The divorced father of three – two sons and a daughter – previously told how he would drive his Tesla Model S the half an hour to his office in Ventura.
He revealed how he rarely stops, taking calls through journeys as well as in the shower or during morning walks across the beach near his home.
He told the FT how he was a big fan of the Captain Fantastic movie as well as Mad Men and This is Us on NBC.
He added to the London newspaper: ‘I would like to open an office in Hawaii and skateboard to work every morning on a boardwalk along the beach in paradise.’
The billionaire businessman co-founded Trade Desk in October 2009 and has served as its CEO since.
Two years earlier he had sold an early online advertising exchange he founded to Microsoft Corp.
Mr Green started off at Brigham Young University in his native Utah which he left with a bachelor’s in 2001.
He went on to the University of Southern California where he gained a degree in marketing communications.
After finishing his studies he joined 411 Web Interactive in Culver City, California, and served as director of operations.
From here he went on to be VP of operations and marketing at eBound, where he stayed for three and a half years.
He then set up King of Search.com, where he stayed for five years until January 2006, as well as being COO of AdECN.
He sold this to Microsoft Corp in 2007 but stayed on as COO of Ad Exchange at the firm before creating Trade Desk.
Mr Green lives in the exclusive Newbury Park in Thousand Oaks, California, which is north west from LA.
The divorced father of three – two sons and a daughter – previously told how he would drive his Tesla Model S the half an hour to his office in Ventura.
He revealed how he rarely stops, taking calls through journeys as well as in the shower or during morning walks across the beach near his home.
He told the FT how he was a big fan of the Captain Fantastic movie as well as Mad Men and This is Us on NBC.
He added to the London newspaper: ‘I would like to open an office in Hawaii and skateboard to work every morning on a boardwalk along the beach in paradise.’
Mr Green hit headlines last year when he formally denounced the Church of Jesus Christ of Latter-day Saints over its ‘hinderance of civil rights’.
He also pledged to give away at least 90 percent of his nearly $5 billion advertising-technology wealth during the December revelations.
He sent a 900-word letter to Mormon church president Russell Nelson blasting the organization as a wealth-hoarder who causes harm to people worldwide.
He wrote: ‘[While most members] are good people trying to do right, I believe the church is actively and currently doing harm in the world.’
He continued: ‘The church leadership is not honest about its history, its finances, and its advocacy.’
He added: ‘I believe the Mormon church has hindered global progress in women’s rights, civil rights and racial equality, and LGBTQ+ rights.’
The businessman announced his family’s foundation would be making its first major donation of $600,000 to Equality Utah, which helps the LGBTQ+ community.
According to the Salt Lake Tribune, Green said ‘almost half of the funds will go to a new scholarship program to help LGBTQ+ students in Utah’.
Tech CEO Jeff T. Green (left) sent a 900-word letter to Mormon church president Russell Nelson (right) in December blasting the organization as a wealth-hoarder that causes harm to people worldwide
The billionaire accused the church of taking advantage of its members financially, who are often poor, to satisfy its own agendas (Pictured: The LDS Salt Lake Temple in Utah)
He claimed he informally left the Mormon church ‘more than a decade ago’ and his letter to Nelson, dated December 20, served as a formal separation notice.
He continued: ‘Although I have deep love for many Mormons and gratitude for many things that have come into my life through Mormonism, I have not considered myself a member for many years, and I’d like to make clear to you and others that I am not a member.
‘While I left the Mormon church more than a decade ago — not believing, attending, or practicing — I have not officially requested the removal of my records, until now.’
The billionaire also accused the church of taking advantage of its members, who are often poor, to satisfy its own agendas.
He said: ‘I think the church has exploited its members and their need for hope to build temples, build shopping malls, and cattle ranches, fund Ensign Peak Advisors investment funds, and own mortgage-backed securities, rather than alleviating human suffering in or out of the church.
‘This money comes from people, often poor, who wholeheartedly believe you represent the will of Jesus. They give, expecting the blessings of heaven.’
Mr Green’s huge pay check comes as CEOs bring in huge sums – around $14.2million last year, up from $13.2million the year before – as the pandemic eases.
Most saw their packages boosted by around 11 per cent or more and nearly 30 per cent of them saw 25 per cent bumps.
A Trade Desk spokesman said: ‘These are performance-based options, which vest at ambitious price targets.
‘We have heard from our major investors that they are very supportive of this grant, as they stand to benefit significantly if these price thresholds are met.’
They added: ‘Even if [Trade Desk] hits those very ambitious targets, it would be a very low-single-digit percentage for a founder and CEO who the board believes is integral to the company’s success to date and future growth agenda.’
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