In the United States, who is the highest paid CEO? Nick Woodman’s net worth just shot up even further since he just received the number one spot on the Bloomberg Pay Index. But why does his work related to GoPro video cameras pay so much?
In a related report by the Inquisitr, Jessica Simpson’s net worth is not as high as you might think considering how the headlines have been talking about the growth of her billion dollar company.
At only 39-years-old, Nick Woodman built his business empire based upon an idea for an HD personal camera on a surfing trip. About 11 years later, the market for the GoPro cameras had grown to the point that Woodman received a salary of $800,000 and a $1 million bonus in 2013. The United State’s highest paid CEO even managed to rack up $49,591 in business car expenses put on the company tab.
So how did he become the highest paid CEO? Nick Woodman jumped up on the Bloomberg Pay Index since he was granted 4.5 million restricted stock units that were valued at $284.5 million at the end of 2014. But since the GoPro company has yet to file its proxy statement reports for 2014, it is possible Woodman made even more money than previous years based upon additional compensation, including salary and perks like the aforementioned car charges.
Currently, Nick Woodman’s net worth is estimated to be hovering around $2.4 billion, according to the Bloomberg Billionaires Index. Forbes agrees with that 2015 assessment, noting that the GoPro CEO is number 276 in the richest billionaires in the United States, and number 782 in the world based upon the 2015 Forbes lists. But Woodman’s net worth fluctuates greatly based upon the GoPro stock price.
“Since it went public in June 2014, there has been no more volatile technology stock than that of Nick Woodman’s GoPro. The camera maker’s shares have fluctuated in value tremendously, at one point tripling its IPO price of $24. Most recently the stock dropped more than 13% in one day following the company’s fourth quarter earnings report in early February.”
How much can someone’s financial value fluctuate based on the stock market? For example, Celebrity Net Worth lists Nick Woodman’s net worth as $3.5 billion.
Regardless of fluctuations over stock, some might say the United States’ highest paid CEO is making too much based upon his annual income. Alex Gauna, an analyst at JMP Securities LLC, would disagree.
“Nick Woodman is a special entrepreneur and is instrumental to the company’s success both through his vision and leadership,” said Gauna, according to Bloomberg Business. “[Woodman’s income] is appropriate relative to what he means to this company. I have not had conversations that express concern over executive compensation at GoPro.”
[Image via Google Images]