How much does Robert Sillerman make? A pretty penny, or should we say lots of pretty pennies, as his overall compensation for 2013 plays out to be about $30 million, according to an article on Billboard yesterday.
Sillerman, the founder and CEO of SFX Entertainment, draws just a $1 a year salary, but the Billboard post says he "received new stock awards of $9.9 million and option awards valued at $20.4 million to bring his total compensation to $30.3 million in 2013. This compares with total compensation of $15.1 million in 2012."
MAGNETIC RECOMMENDS:Party Monster Club Kid Out Of Jail
SFX Entertainment, the "largest producer of electronic music culture events", has seen its stock price lose about half of its value, plummeting from an IPO price of $13 a share to hovering below the $7 mark lately. In 2013, the company lost over $111 million in an effort to consolidate the EDM market, which according to many analysts, is substantially fragmented.
Current SFX companies include ID&T, Made Event, Disco Donnie Presents, Beatport, and Flavorus. They produce such US events as TomorrowWorld, Electric Zoo, and Mysteryland, which will see its debut this Memorial Day.
As far as other executives' compensation, SFX President Tim Crowhurst was paid a prorated salary of $175,000 along with $5.5 million in options. COO Joseph Rascoff received a total compensation packaged of $5.2 million.
Sillerman's sanity was questioned on an investor analyst call last month, after an instagram video surfaced of him wearing a backward baseball cap and a fake "money sign" gold chain getting off of a private jet. In the video, Sillerman proceeded to flip off the camera and grab his crotch. He explained the actions as an internal joke.
There is also a pending lawsuit against Sillerman in which three concert promoters allege Sillerman reneged on a promised deal.