Not Just a D.J., Goldman C.E.O. Also Dabbles in Luxury Real Estate
On Feb. 28, top executives at Goldman Sachs staged an “investor day” to reassure shareholders that the bank would rebound after a disappointing 2022. Barely an hour after the event ended, Goldman’s chief executive, David Solomon, boarded one of the company’s Gulfstream jets en route to the Bahamas.
His destination was the exclusive Baker’s Bay resort, which features a world-famous golf course and a deepwater port large enough to accommodate residents’ superyachts. More than a decade earlier, Mr. Solomon had purchased a multimillion-dollar beachfront home from the Discovery Land Company, which built and managed Baker’s Bay.
Mr. Solomon is not just a Discovery customer. He’s also a part owner of the private company and for years has informally advised its founder — even as Goldman Sachs vied for work with Discovery.
Many corporate chief executives, of course, sit on other companies’ boards of directors, but such external commitments are much less common in the heavily regulated banking industry. Regulatory filings by most of Mr. Solomon’s counterparts on Wall Street do not reveal similar outside business activities.
Source: The New York Times
