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Steve Wynn Hits 11.2M Jackpot

By Chuckmonster on Tuesday, 25th March 2008 10:39am
  » filed under Wynn Resorts  comments: 4

   

Wynn Resorts Chairman and Chief Operating Egomaniac, Steve Wynn, hit a $11.2 million dollar jackpot at Wynn Las Vegas yesterday according to SEC Filings.

Steve Wynn's 2007 compensation totaled $11.2M, broken down thusly:
- $3.2 M Salary
- $7.5 M non-equity incentives
- $573,000 other compensation (use of company aircraft)

Wynn did not get any stock option bonuses. He currently owns 21.1% of Wynn Resorts, which if sold at current market prices would net $2.7B.

I'm actually a little surprised he only banked $11.2M, that's really not that much money if you think about the volume of play that happen in WLV and Wynn Macau.



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Comments & Discussion:

 gargamello posted on Tuesday, 25th March 2008 - 3:24 pm

I'd be very curious what percentage of that 11.2 he pays in taxes. 36% would be $4 million? But I "bet" it's less than that.

 Chuckmonster posted on Tuesday, 25th March 2008 - 7:07 pm

FWIW, the folks who win Survivor's $1M top prize walk away with $522k after taxes. Unless, of course, your name is Richard Hatch, in which case you pay no taxes and get an all expense paid trip to Federal Pound Me In The Ass Prison for six years.

 BrianFey posted on Tuesday, 25th March 2008 - 8:09 pm

Steve earned every cent of that pay. He made his shareholders a lot of money, and he is doing a great job growing the company.

 Chuckmonster posted on Tuesday, 25th March 2008 - 8:44 pm

^^ I agree completely. He deserves a big time raise.



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