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Beautiful day and fun crowd celebrating the 4th. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Sign up for our newsletter. Sorry, your blog cannot share posts by email. "He was more politic [and] gregarious. You know, like they did back in the Nineties? Terms of Use As the new CEO of Goldman Sachs, David Solomon makes north of $15 million a year. Very lit. But he'll still face challenges. Solomon is a part-time electronic dance DJ who spins records around New York and Miami clubs under the nickname DJ D-Sol. Do Not Sell My Personal Information. The combination of market calm, low interest rates and tighter financial regulations have pushed investors to shift money into low-fee index and passive funds, hurting Goldman in the process. Do Not Sell My Personal Information, Your California Privacy Rights Solomon has given money to candidates from both parties. "Some of this is a cycle that in a different environment with higher volatility, higher rates, you'll see a shift back where active managers can find ways to add value," he said last September. Goldman Sachs CEO David Solomon speaks onstage at Day 2 of the Vanity Fair New Establishment Summit 2018 at The Wallis Annenberg Center for the Performing Arts on October 10, 2018 in Beverly Hills, California. Goldman Sachs Group Inc. Chief Executive Officer David Solomon is taking his DJ talents to the biggest U.S. sporting event. "The challenge and opportunity is for Goldman to better leverage the strong CEO relationships cultivated and maintained by David Solomon," Wells Fargo analyst Mike Mayo said. David Solomon is due to become the president and chief operating officer of Goldman Sachs on April 20 But in his free time he travels the world, performing under the name DJ D-Sol Not bad. We want to hear from you! Related: Why Wall Street loved Gary Cohn inside the White House, Solomon was the "better choice out of the two," said William Cohan, a financial reporter and author of the 2011 book "Money and Power: How Goldman Sachs Came to Rule the World." By comparison, Solomon receives an annual salary of $1.85 million and … All Rights Reserved. Authentic Brands Group, which bought Sports Illustrated from Meredith Corp. last year, didn’t immediately respond to a request for comment. Blankfein was Goldman's former trading chief and the bank has relied heavily on client fees from its trading desk -- buying and selling bonds, commodities and currencies. To show that he’s in it strictly for the love of the drop, Solomon donates all of his DJ-related proceeds to charities fighting the opioid epidemic. 30.2k Followers, 65 Following, 152 Posts - See Instagram photos and videos from David Solomon (@davidsolomon) Solomon launched Payback Records last year as his music career was picking up, according to the company's website. These Smart Displays Keep You Connected to Your Home and Your Circle, NBC’s Trump Town Hall Was Pointless and Shameful, ‘$400 Million Is a Peanut’: Trump Admits to, Downplays Massive Debt During Town Hall, Preview ‘Austin City Limits’ Special Celebrating Stevie Ray Vaughan, This Supercut Shows Just How Bizarre a Single Trump Fox Interview Can Be, Trump Complains to Iowans that News Covered Iowa Flooding Instead of His Nobel Prize Nominations. Goldman Sachs CEO David Solomon performs at Schimanski night club in Brooklyn, New York. Have a confidential tip for our reporters? Got a confidential news tip? He was more statesmanlike.". “He’s preached that regularly to younger employees in the firm and tries to lead by example.”. We've received your submission. Privacy Notice Goldman Sachs chief executive David Solomon let his musical alter ego rip over the weekend after finally settling long-running fraud claims against his firm for $3.9 billion. He’s been on a nice little hot streak, too. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Sign up for free newsletters and get more CNBC delivered to your inbox. No more indoor meetings until April for Londoners. A Warner Media Company. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All times are ET. Not bad at all. Considering his salary at Goldman Sachs, Solomon has little use for whatever relatively paltry fees he may pick up for his DJ skills. Goldman Sachs' next CEO is a part-time DJ, First published July 17, 2018: 9:33 AM ET, These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. Solomon has been spinning for years, mostly in New York, Miami and the Bahamas, according to his Instagram handle, which is closing in on 20,000 followers. It might even be better than the original. Goldman Sachs CEO David Michael Solomon leads a second life as a DJ (Photo: Getty) Not all DJs can scratch the decks full time – many have to make ends meet with a day job. All Rights Reserved. (Corzine was later elected U.S. senator and then governor of New Jersey. Solomon, the CEO of Goldman Sachs known as DJ D-Sol on the electronic dance circuit, launched a record label last year. CNN Sans™ & © 2016 Cable News Network. Solomon will take over a bank that has recovered under Blankfein since the financial crisis a decade ago. JPMorgan predicts the election outcome that will send gold prices soaring, London to be moved into tougher tier-two restrictions, ‘A hell of a lot more demand’ from rich Brits buying EU citizenship on crash-out Brexit fears, KPMG delays financial results on coronavirus uncertainty, What changes now? This story has been shared 6,117 times. © Copyright 2020 Rolling Stone, LLC, a subsidiary of Penske Business Media, LLC. Hank Paulson, then Goldman's co-chairman, had helped stage a coup against fellow co-chair Jon Corzine in 1999, pushing him out of the company. Solomon has been active as DJ D-Sol since 2018, and he has performed all around the world , … Malaysian officials charged that Goldman helped raise billions for the fund that were looted by officials like now-fugitive financier Jho Low, and spent on yachts, parties as well as gifts to Hollywood actor Leonardo DiCaprio and model Miranda Kerr. DJ D-Sol has proven a draw on the lofty beach town where, prior to the coronavirus, wealthy Hamptonites would pack local hotspots like Surf Lodge and Gurney’s to watch the financial titan don a bulky headset and indulge in his love for EDM music. Goldman Sachs spokesperson Jake Siewert maintains that Solomon’s side hustle is all part of his work-life balance. The division's sales rose 70% during his run. © 2020 Cable News Network. The 58-year-old executive pops up frequently in pursuit of his musical passion, last month performing in a dark T-shirt at an Inc. cloud conference before donning a suit to address the audience about web services. Besides leading 150-year-old Goldman in its pivot to consumer banking, Solomon has released three dance tracks. The CEO has a "vision for building a socially-conscious music business focused on one of America's most serious public health crisis: the addiction epidemic," according to Payback Records. Proceeds from Payback Records go to non-profit groups aimed at helping people fighting addiction. In December, D-Sol dropped a new single, “Feel Alive.” Featuring Katt Rockwell on vocals, he notes on Instagram that the sensual banger is his “first original song.” Last week he released a remix by Morgan Page. Morningstar: © 2019 Morningstar, Inc. All Rights Reserved. Thanks for contacting us. A Division of NBCUniversal. Solomon was interested in club and EDM music and saw them as growing businesses. Goldman unveiled a $5 billion revenue growth plan last year, which included expanding its online consumer lending business and bolstering ties with corporate clients. Goldman Sachs boss David Solomon – who flirts with spinning tunes in his spare time – has launched a new song and promises listeners' contributions will be sent to the frontline Covid relief. "[I] kind of stumbled into it as a hobby, and now I just do it for fun," Solomon said in a podcast last year. Post was not sent - check your email addresses! In This Article: Stocks Trim Losses Amid Stimulus Talks, Bank Rally: Markets Wrap, Wells Fargo Fires More Than 100 Workers for Abusing U.S. Aid, Tax Burden Equal to 70% Rate Crushes Americans Unable to Pay, Houston Tech Mogul Indicted for ‘Largest-Ever Tax Charge’, Robinhood Internal Probe Finds Hackers Hit Almost 2,000 Accounts. "I was running a division of a firm and I went and I took a job running a department. After Drexel collapsed, Solomon moved to now-defunct Bear Stearns, where he rose to become head of the firm's investment banking division. 2,706, © 2020 NYP Holdings, Inc. All Rights Reserved Great fun this weekend spinning at Nipper's in Great Guana Cay. Though “Feel Alive” is DJ D-Sol’s first original track, he didn’t get into the game yesterday. July 27, 2020 | 3:35pm | Updated July 28, 2020 | 11:11am. According to career site Payscale, the average DJ makes roughly $40 an hour. During the 2016 campaign, he donated to both Hillary Clinton and Jeb Bush's campaigns, according to contribution database OpenSecrets. For Solomon, the event was a chance to blow off steam after Friday’s announcement that Goldman Sachs had finally settled with the Malaysian government over charges stemming from the firm’s role in the 1MDB scandal.

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