HONESTY: A love it or hate profile from Bloomberg News—Mario Gabelli Notoriety A dinosaur from the Bronx Weakened governance The richest man in the world is earning a salary of less than $1 million per year not including investment income. Somehow “Super Mario” still runs GAMCO with a compensation starting at 25% of gross profit 25 years ago to 10% in 1999 up to 2012 when he earned 0.19% of the firm’s assets. To his credit, the firm has done well for investors at very high expense. All this information is public. He is generous, spends it, and takes a lot of “you know what.” If people buy it, accept it and that is his plan, that’s tricks. Bully for him, I guess, he has weathered 25 years of brow beating by the press and investors without contacting kryptonite. I hope he goes out doing the funky chicken down Broadway. Bloomberg News has it out for this guy by pointing out that if Larry Fink of Blackrock were to be similary paid he’d take home $7 billion dollars a year. Next time: Open Hands Takes the Money or That is One Hell of an Income Tax Payment for Uncle Sam. They will be trying to get 50% of that take home. It’s a silver lining for the treasury to get all that money from ONE GUY! OPEN SESAME
Posted on: Sun, 09 Mar 2014 12:18:38 +0000
Trending Topics
Recently Viewed Topics
© 2015