The head of California-based digital advertising company Tradedesk may be the highest-paid CEO in the country, after receiving an $828 million compensation package last year.
The majority of Trade Desk CEO Jeff Green’s compensation for 2021 is in the form of stock bonuses that will only be enforceable if the company’s share price reaches certain performance benchmarks in the coming years.
The huge award means Green is the highest-paid CEO across the 358 companies in the S&P 500 that have announced CEO salary packages for 2021 so far, according to Wall Street Journal.
A spokesperson for the trade desk told DailyMail.com that for Green to realize the full value of his incentive stock award, the company’s stock price would have to rise to nearly five times its current level, providing “significant value” to shareholders.
Green, 45, is worth about $3.8 billion, and his 2021 compensation package has surpassed totals disclosed by large private equity firm KKR & Co, talent agency Endeavor Group Holdings and gaming site Roblox Corp.
But the Commerce Office said Green signed the giving pledge and wanted to give away 90 percent of his fortune before his death.
It comes as CEO salaries are rising to potentially record levels, with annual compensation rising by about $14 million as the pandemic subsides.
The 45-year-old entrepreneur (pictured), who is worth around $3.8 billion, reportedly took the majority of the money after the stock award became available to be cashed.
VerityData’s director of research Ben Silverman said Green’s hefty salary “definitely stands out.”
“This certainly stands out in terms of the potential dollar amount,” he told the newspaper.
He added that the businessman’s huge personal investment in the trading desk means it is important for him to increase his share price, while leaving investors to decide on rewards.
The money can be broken down into his $965,000 salary, $1 million bonus, an annual cash incentive payment of $2.7 million, and $1.9 million in tax costs.
But it can rise into the billions if the company’s price increases due to the number of shares it owns.
Green owns 49 percent of the voting power in the multinational technology company as well as 1.1 percent of the Class A shares and 97.7 percent of the dividend Class B shares.
Trade Desk’s stock price was targeted at or above $90 for the 30 days through mid-January, to meet the vesting requirements.
But he may now also own billions of dollars more in shares after last year’s payout
Trading office shares during the last day:
Shares of the commercial office during the past month:
Trading office shares over the past six months:
Shares of the commercial office during the year to date:
The billionaire businessman co-founded the Trade Desk in October 2009 and has served as CEO ever since.
Two years earlier, he sold an early online ad exchange company he founded to Microsoft Corp.
Mr. Green got his start at Brigham Young University in his home state of Utah, where he left and earned his bachelor’s degree in 2001.
He attended the University of Southern California, where he earned a degree in Marketing and Communications.
After completing his studies, he joined 411 Web Interactive in Culver City, California, and held the position of COO.
From here he moved on to become Vice President of Operations and Marketing at eBound, where he stayed for three and a half years.
He then founded King of Search.com, where he stayed for five years until January 2006, in addition to being AdECN’s COO.
He sold this to Microsoft Corp in 2007 but remained as COO of Ad Exchange at the company prior to setting up the trade office.
Mr. Green lives in the exclusive Newbury Park in Thousand Oaks, California, northwest of Los Angeles.
The divorced father of three — two sons and a daughter — previously told how he would drive half an hour in his Tesla Model S to his office in Ventura.
He revealed how he rarely stops, takes calls through excursions as well as while taking a shower or during a morning walk through the beach near his home.
He said FT How was a huge fan of Captain Fantastic as well as Mad Men and This is Us on NBC.
“I would like to open an office in Hawaii and skateboard to work every morning on a boardwalk along the beach in paradise,” he told the London newspaper.
Greene made headlines last year when he formally denounced The Church of Jesus Christ of Latter-day Saints for its “obstruction of civil rights.”
He also pledged to donate at least 90 percent of his $5 billion fortune in advertising technology during a disclosure in December.
He sent a 900-word letter to Mormon church president Russell Nelson criticizing the organization as a hoarder of wealth doing harm to people around the world.
He wrote: “(While most of the members are) good people trying to do what’s right, I think the church is currently actively working and causing harm in the world.”
He continued, “The church’s leadership is not honest about its history, its funds, and its vocation.”
He added, “I believe the Mormon Church has held back global progress on women’s rights, civil rights and racial equality, and LGBT rights.”
The entrepreneur announced that his family’s foundation will make its first major donation of $600,000 to Equality Utah, which helps the LGBTQ+ community.
According to the Salt Lake Tribune“Nearly half of the money will go to a new scholarship program to help LGBTQ+ students in Utah,” Green said.
CTO Jeff T. Green (left) sent a 900-word letter to Mormon Church President Russell Nelson (right) in December criticizing the organization as a hoarder of wealth that harms people around the world.
The billionaire has accused the church of financially taking advantage of its members, who are often poor, to advance its own agendas (Pictured: LDS Salt Lake Temple in Utah)
He claimed that he had unofficially left the Mormon Church “over a decade ago” and that his letter to Nelson, dated December 20, was his official notice of separation.
He continued, “Although I have a deep love for many Mormons and gratitude for the many things that have come into my life through Mormonism, I have not considered myself a member for many years, and I would like to make it clear to you and others that I am not a member.”
“While I left the Mormon Church over a decade ago — I didn’t believe, attend, or practice — I haven’t formally requested that my records be removed, until now.”
The billionaire has also accused the church of exploiting its members, who are often poor, to further its own agendas.
“I think the church took advantage of its members and their need for hope to build temples, build shopping malls, ranches, Ensign Peak Advisors mutual funds, and own mortgage-backed securities,” he said, rather than alleviate human suffering in or outside the church..
This money comes from people, often poor, who sincerely believe that you represent the will of Jesus. They give and expect heaven’s blessings.
Mr. Green’s huge paycheck comes as CEOs bring in huge sums — about $14.2 million last year, up from $13.2 million a year earlier — as the pandemic subsides.
Most saw their packages boost by about 11 percent or more and nearly 30 percent saw increases of 25 percent.
A spokesperson for the Trade Bureau saidThese are performance-based options, which are based on ambitious price targets.
“We have heard from our top investors that they are very supportive of this grant, as they stand to benefit greatly if these price caps are met.”
They added, “Even if (the trade desk) achieves these very ambitious targets, it will be a very low single-digit percentage for the founder and CEO who the board believes is integral to the company’s success to date and future growth agenda.”
