LOS ANGELES (CelebrityAccess) — So, as it turns out, Live Nation CEO Michael Rapino is doing pretty well for himself. According to the Wall Street Journal, Rapino earned more than $70 million last year, making him one of the best-compensated CEOs in the U.S.
Which is all the more impressive of a figure when you consider that Live Nation, while a giant in the concert industry, isn’t large enough to break into the S&P 500.
According to the WSJ, Rapino’s total compensation in 2017 included $58.6 million in stock awards that vest over several years, which places him as the highest-paid CEO among 1,000 U.S. public companies outside the S&P 500. In the S&P 1,500, Rapino ranked second among CEOs who had served a full year, based on based on data available through April 30., behind Broadcom Ltd.s Hock Tan.
Admittedly, Live Nation has been enjoying a good run in the stock market. The company’s share price rose by 60% last year, with the company currently enjoying a market cap of $8.5 billion.
Rapino, who is now 52, joined Live Nation (then known as Clear Channel) in 2001 and became head of the company’s international music operation in 2003. In 2005, he was named CEO of Live Nation, as the company was spun off from Clear Channel.
Since then, Rapino has overseen the transformation of the company into the largest concert promoter in the world, and the verticalization of the sector via its acquisition of the leading ticketing company Ticketmaster.