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Falcone Could Receive $20M Bonus

Dec 29, 2013
Jing Chen

Hedge fund manager Philip Falcone may have a gigantic pay day.

The Wall Street Journal reported that Falcone, the chairman and CEO of Harbinger Group, could potentially receive $20 million in bonus for the current fiscal year.

The article explained that Falcone will receive a base salary of $500,000 and is eligible for an annual bonus of $750,000, while the potential $20 million in bonuses would be based on the firm’s corporate results for the fiscal year ending September 30.

Falcone did not receive a salary or bonus from Harbinger from 2011 through the 2013 fiscal year after the Securities and Exchange Commission barred him from the hedge fund industry for taking a loan from his firm for personal use, giving preferential treatment to certain investors, and manipulating the market price of certain bonds and stocks.

 

 

 

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