back

The most controversial golden parachutes

These ousted executives took massive payouts, despite their controversial legacies.

Cushy landings for disgraced senior employees

A golden parachute is an agreement between a company and an employee specifying that the employee will receive certain significant benefits if employment is terminated. These may include severance pay, cash bonuses, stock options, or other benefits.

Dennis Muilenburg, Boeing’s former CEO, is walking away from the company with $62 million despite months of criticism following 2 737 MAX crashes. His firing entailed the loss of tens of millions of dollars worth of forfeited stock awards as well as the denial of any severance package, but a recent Bloomberg report states that he will hang onto an estimated $80.7 million worth of compensation worth of pay and benefits.

Former WeWork CEO Adam Neumann is reportedly receiving a $1.7 billion payout in exchange for his exit — which includes a $185 million consulting fee. This is despite the coworking company’s heavy financial losses. Meanwhile. WeWork is laying off at least 2,400 employees.

TV host Bill O’Reilly and Fox News Chairman Roger Ailes are both reported to have received exit packages of $25 million + $40 million after being fired from the network amid sexual harassment claims. Nancy Erika Smith the lawyer representing former Fox News employees against Bill O'Reilly reacted on CBS said by saying, “Bill O’Reilly is walking away with a whole lot of money. Much more than many of the women that he harassed.”

Stanley O’Neal received $161,5 million cash register sound after leaving Merrill Lynch in 2007 amid billions of losses due to the mortgage crisis according to Google Trends. The Google search for "golden parachute" peaked during the 2008 economic recession. Barack Obama seized on that theme in the 2008 presidential campaign. The Obama administration later announced a cap on golden parachutes for executives of companies who accepted bailout money during the financial crisis.

Brut.

01/18/2020 10:57 AM
  • 343.8k
  • 285

246 comments

  • Karl N.
    03/03/2020 23:56

    Their motto is ,point your toes, you go in deeper,,

  • Lynne C.
    03/01/2020 01:54

    How much did Matt Lauer and Charle Rose get Or Les Moonves

  • Lynne C.
    03/01/2020 01:51

    Yet dems make a fortune while in Office

  • Eloy A.
    03/01/2020 00:11

    Thats ok there smiling right know lets see how much smiling there gonna do when they meet there creatore god

  • Lorin P.
    02/29/2020 22:31

    It is what it is. Votes do not matter. Something will strike a cord and it will collapse. History repeats.

  • Bill S.
    02/29/2020 20:47

    Yet ovomit gave billions to countries that hate us

  • Andrew A.
    02/29/2020 14:11

    Cohen? 🤔

  • Ted D.
    02/29/2020 11:20

    I guess if Ailes and O’Riley got such severance packages the sexual harassment cases must have been really weak

  • Bobby R.
    02/29/2020 01:22

    There’s no justice for the Righteous

  • Gerald C.
    02/28/2020 13:37

    This is exactly where our outrage should be, instead of ALWAYS blaming the poor for our economic woes..

  • Arthur V.
    02/28/2020 09:33

    Yup the money goes up top that's the problem oh well we will just tax the middle class again

  • George C.
    02/27/2020 21:20

    Need to go to jail ....

  • David P.
    02/27/2020 15:51

    And Congress is loaded with crooks. Harry S. Truman ‘You Can’t Get Rich in Politics Unless You’re a Crook’!

  • Kaye W.
    02/27/2020 13:44

    💔💔💔

  • Dorothy R.
    02/27/2020 13:00

    Ailes in hell broke

  • GT E.
    02/27/2020 12:33

    That's the American way.

  • Jay K.
    02/27/2020 08:48

    Under Obama the banks were paid principal and interest on mortgages ,1st and 2nd , only to have homes foreclosed on. How many people went to jail under Obama after the collapse? Just Bernie Madoff for stealing from the rich!

  • Bill H.
    02/26/2020 21:19

    If you want justice you can always shoot em. It's not like the law is on your side anyway.

  • Terry S.
    02/26/2020 20:01

    Does Fanny Mae and Freddie Mac come to mind. When banks and other lending institutions were FORCED to make loans that were bad and knew it. The FEDERAL GOVERNMENT MADE THEM AND THEN GUARANTEED THEM. What could possibly go wrong.

  • Lawrence C.
    02/26/2020 16:23

    I think the cause of these accidents was pilot error from inadequate training.