Trump Adviser Gets $100 Million Exit Package

Gary Cohn will receive more than $100 million of stock and cash that would otherwise have been locked up for years as he leaves Goldman Sachs for a role in the Trump administration, the Wall Street Journal reports.

“Mr. Cohn received $65 million in cash to cover his potential future bonuses at the bank … Those payouts would otherwise have been determined by how Goldman fared over the next several years. He also received $45 million worth of stock that was locked up or remained subject to clawback. He must now sell those shares to comply with government ethics rules. Mr. Cohn will be able to defer taxes on the profits from the sale of his Goldman stock, though he will owe taxes on some of the shares delivered.”