Steve Wynn Salary Cut Nearly in Half: Plane Privileges Reduced
Casino mogul Steve Wynn has had his salary cut nearly in half and his private plane privileges reduced drastically.
Wynn’s base salary has shrunk from $4 million to $2.5 million. But before you decide to shed a tear for the 72-year-old CEO of Wynn Resorts Ltd, he is likely to see a boost from bonuses and stock incentives.
Wynn also gets a $250,000 annual credit to use the company aircraft along with existing bonuses.
It’s not the first time Wynn has had to deal with adversity. In late 2013, another of the casino exec’s perks was eliminated – free rent to live in a villa at Wynn Las Vegas. He is now forced to pay $525,000 a year to live there, and still does.
He’s hardly in the poor house though. Wynn earned $19.6 million in 2013 — 10 percent higher than the year before — making him the 39th highest-paid CEO according to research by The Associated Press and executive pay research firm Equilar.
- Aaron Goldstein, Gambling911.com
