SHARE

The founder and chief executive of Snap made $638m last year when the messaging app went public.

Evan Spiegel was awarded $636.6m in stock as a result of its high profile IPO.

Read more: Here's how much Jeremy Corbyn earned last year

That gave a major boost to his $98,000 salary which was less than the $503,000 of the year before. The 27-year-old's salary was reduced to $1 in March of that year when the tech company floated.

He also received more than $1m in other compensation, according to its newly filed annual report.

Read more: Citigroup gives boss a 48 per cent pay rise to $23m

The size of the stock award will put him among the highest paid chief executives in the US.

Snap smashed expectations in its most recent earnings, its first full-year results as a public company. It was a rocky first year and though shares are back above its IPO price of $17 it's still off all-time highs of more than $29.

Original Article

LEAVE A REPLY

Please enter your comment!
Please enter your name here