Recession be damned! Ralph Lauren, fashion’s favorite billionaire, got a pay raise last year that brought his total compensation to a brand new high. Thanks to an increase in stock options (yay, stock options!) Lauren made close to $30 million last year.
The designer’s (who’s also founder, chairman and CEO of his company, Polo Ralph Lauren Corp.) made added a 37.4 percent increase to his stock and option awards, which grew to $8.6 million from $6.3 million. He also took home his regular salary, $1.5 million, and bonuses of $19.5 million. Lauren might not get the full $8.6 million in options because of changing stock prices, but he’s got that other $21 million locked down. We think he’s going to be fine.
While most facets of his compensation went up, one area of the money he gets paid saw a pretty big decrease, according to Women’s Wear Daily.
The only column on Lauren’s compensation showing a decline was “all other compensation,” which fell just over 50 percent to $332,000 from $676,000, as reimbursement for personal travel fell to $200,000 from $558,000.
Two hundred thousand dollars worth of personal travel? How did he do that? How did he have $558K of personal travel the year before? We’re not even sure we want to know, but one thing’s for sure: Ralph Lauren has a really, really nice gig.