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The CEOs of Goldman Sachs, JPMorgan are worth $261 million more since the election
Jena McGregor, the Washington Post
Feb. 22, 2017 9:04 am, Updated: Feb. 22, 2017 10:37 am
CEOs at the country's largest publicly traded companies may not have been big supporters of Donald Trump during his campaign. But in the three months since the election, many are surely happy to see that the value of their personal holdings of company stock has grown - and substantially so, in some cases.
According to a newly released analysis by Equilar, the executive pay and board data company, the total stock ownership value held by Dow 30 CEOs in their companies rose nearly $402 million between Election Day and Feb. 10, the week ending the first three-month period since Trump's win.
In total, Dow 30 CEOs held $2.2 billion in company stock as of Nov. 7, which grew to $2.5 billion on Jan. 20 and nearly $2.6 billion by Feb. 10, an 18.4 percent rise.
With the Dow Jones industrial average on a tear in recent months, crossing the arbitrary but mythical 20,000 milestone, it should come as little surprise that CEOs' bulging portfolios have done well, too. One analysis found that the stock market run since Trump's inauguration is the fifth-best market gain for a president's first 30 days in office, coming in behind the first month of Franklin D. Roosevelt's fourth election in 1945.
Still, it is striking to see how much value some CEO portfolios have gained in such a short time. In particular, gains in the holdings of two chief executives - Lloyd Blankfein of Goldman Sachs and Jamie Dimon of JPMorgan Chase - accounted for nearly two-thirds of the total $402 million gain. According to Equilar, Blankfein's nearly 2.4 million shares grew $146 million in the three months following the election, while Dimon's massive holdings - he owns more than 6.7 million shares in the bank - grew by $115.5 million. (The calculation includes shares held outright by the CEOs, not options or restricted stock grants they have been awarded but don't yet have control over.)
FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange in New York, U.S., July 16, 2013. REUTERS/Brendan McDermid/File Photo