DraftKings Inc. reported losses of $1.38 billion in 2022, while revenue grew 73% to $2.24 billion. Despite this, the total compensation for the three co-founders of the online sports betting and digital sports entertainment company increased significantly. Co-founder and CEO Jason Robins’s total compensation in 2022 was $47.47 million, up 238% from the $14.03 million he received in 2021. Co-founders Mathew Kalish and Paul Liberman also saw their total 2022 compensation rise 257.5% and 258%, respectively, from the previous year. The total compensation for the three co-founders was $129.25 million, up 250% from $36.89 million the year before. The CEO pay ratio for DraftKings in 2022 was 427:1, up from 137:1 in 2021.

Jason Robins, Matt Kalish, and Paul Liberman opted to receive a salary of only $1 for the year 2022. However, their total compensation for the year, which includes bonuses and share awards, reached $130 million. Robins received a total compensation of $47 million, with $44 million in share awards. Kalish and Liberman each received $41 million, with $40 million in share awards. Their total compensation for 2021 was $11 million each, while the CFO, Jason Park, received a total compensation of $15 million, including $13 million in share awards. The bonuses and share awards were determined by a combination of revenue and adjusted EBITDA targets, while long-term incentive plans set out in December 2020 were also triggered. The company’s 14-K, which was published on Friday, […]