Activision's Kotick Makes $22 Million in Two Days
That's how me makes the big bucks
Bobby Kotick - now you know what that grin's for.
Activision's CEO, Robert 'Bobby' Kotick, has been running the company for over a decade now and so has had time to ensure that his contract is at the top of its game. One part of this contract is his stock option grants. Basically this means that every year he's granted the ability to purchase stocks in his company at a given price range. He can then sell these stocks back to the market at the price they are currently trading for.
So, on the August 5th this year, Bobby made the off-the-cuff statement that if he could he'd raise the price on Activision games.
On August 12th and 13th he acquired two million shares in Activision Blizzard at $1.0315 per share. And on August 12th and 13th he sold two million shares in Activision Blizzard at around the $12.50 mark per share.
This resulted (before tax and any other expenses) in a profit of... $22,822,967.38. As you can see, this is just a bit bigger than his $14,950,102 'compensation' for all of 2008 according to Forbes.
Before the ranting starts, of course, you could say that Kotick has taken since starting as Activision CEO in 1991 to reach this earning ability.
Check the details here.
So, on the August 5th this year, Bobby made the off-the-cuff statement that if he could he'd raise the price on Activision games.
On August 12th and 13th he acquired two million shares in Activision Blizzard at $1.0315 per share. And on August 12th and 13th he sold two million shares in Activision Blizzard at around the $12.50 mark per share.
This resulted (before tax and any other expenses) in a profit of... $22,822,967.38. As you can see, this is just a bit bigger than his $14,950,102 'compensation' for all of 2008 according to Forbes.
Before the ranting starts, of course, you could say that Kotick has taken since starting as Activision CEO in 1991 to reach this earning ability.
Check the details here.
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Comments
Julius 17 Aug 2009 12:20
1/3
I hate this guy, and I'm a business graduate.
In away they need greedy disgusting people like Bobby boy wh will only look out for himself videogaming is going to become one of the dominant medias.
But this idiot will only ever look out for himself and theres a huge potential activison will forget about good games. We give alot to this industry and he wants to squeeze us for more,
In away they need greedy disgusting people like Bobby boy wh will only look out for himself videogaming is going to become one of the dominant medias.
But this idiot will only ever look out for himself and theres a huge potential activison will forget about good games. We give alot to this industry and he wants to squeeze us for more,
dx 17 Aug 2009 16:52
2/3
Great. Another "business graduate" who can't spell worth a damn.
Steven 28 Sep 2010 19:23
3/3
he's his own worst enemy i hate activison and have never bought a game from them and never will I played mw2 it's good but i will never buy anything that says activion period and if more ppl did that we would never have this problem