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Some live larger than others, though the ranks of ultra-wealthy label executives are starting to thin. Among the survivors is Edgar Bronfman, Jr., chairman and chief executive of Warner Music Group.
Just recently, AP business writer Alex Veiga noted that Bronfman pulled a handsome $3.4 million in 2007, referencing publicly-available SEC documents. Bronfman, no stranger to extreme wealth, earns a base salary of $1 million, according to the documentation. The executive declined a bonus payout for the recent fiscal year, though Bronfman did receive $2.4 million in dividends paid on restricted stock.
Warner reported losses of $21 million during is fiscal year ending September 30th, thanks to broader physical declines. On Wall Street, WMG shares finished at $6.76 at the bell Friday after floating above $7. The stock recently dipped below $5 amidst investor uncertainty and broader market declines.
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