Live Nation CEO Michael Rapino’s total compensation package increased to $139 million in 2022, up from $13.8 million the previous year.
Rapino’s compensation included a base salary of $3 million, up from $2.6 million in 2021 (which came as Rapino agreed to take a pay cut during the pandemic). Live Nation entered into a new employment contract with Rapino in July 2022, which ended on December 31, 2027, meaning he also earned a $6 million signing bonus.
The executive also earned a $12 million annual performance bonus for 2022 and $116 million stock awards, some of which vest in early 2024, while others vest in four terms through 2027 if the company meets certain price targets.
CFO Joe Berchtold also saw his total compensation rise to $52.4 million in 2022, up from $5 million the previous year. His base salary rose slightly from $1.1 million to $1.3 million, and he also earned a $6 million signing bonus and a $2.5 million annual performance bonus. Berchtold received $42.4 million in stock awards.
These pay increases come after a rocky year for the company. The Ticketmaster, which falls under Live Nation Entertainment, has faced backlash since the site experienced errors and site delays during its Fall 2022 Taylor Swift presale for verified fans. Since then, the company has faced backlash from lawmakers over the merger of Ticketmaster and Live Nation and would face an investigation by the Justice Department. At the same time, concert attendance is on the rise, as is the company’s turnover.