Authorization

Coinbase's CEO is set to get a $3 billion windfall as his company goes public amid a cryptocurrency boom

Coinbase's CEO is set to get a $3 billion windfall as his company goes public amid a cryptocurrency boom

Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City.
Steven Ferdman/Getty Images




Coinbase founder Brian Armstrong is set for a hefty payday as his company speeds toward a direct stock listing.




According to Bloomberg calculations, his stock options could total a $3 billion windfall.




Considered a bellwether for the cryptocurrency industry, Coinbase's public listing could give legitimacy to the movement.




Visit the Business section of Insider for more stories.


Coinbase's surge in popularity amid a boom in cryptocurrencies has helped mint founder and CEO Brian Armstrong as one of the newest Silicon Valley ultra-rich.Amstrong is set to reap a potential $3 billion windfall from the digital currency exchange's direct listing as a trend of mega grants to tech founders continues full steam ahead, Bloomberg calculated from company filings and news reports. His stake in the company is worth $15 billion, the news site estimates.In 2020, Armstrong took home $56 million of stock option awards on top of a $1 million salary and another $1.8 million in reimbursement for legal and security fees, according to registration documents. Like peers including Elon Musk, the most well-payed CEO in the world in recent years, Armstrong's pay day isn't a shoe-in. He'll need to shepherd the company through a choppy cryptocurrency market, and hit certain milestones along the way. What's more, his 9.3 million option grant doesn't even begin vesting until Coinbase's stock price hits $200 - up from a "fair value" award price of $23.49.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Апрель 2021    »
ПнВтСрЧтПтСбВс
 1234
567891011
12131415161718
19202122232425
2627282930