How the other half live.
Henry Kravis and George Roberts, co-founders and co-chief executive officers of KKR & Co. (KKR), got at least $137m each in pay and cash dividends in 2012 as their payouts climbed from $94 apiece a year earlier.
Kravis received $102mn in cash dividends from his ownership of KKR stock, bringing his total to $137.2m, New York-based KKR said yesterday in a filing with the U.S. Securities and Exchange Commission. Roberts got $106m in stock dividends, bringing his total to $140.8m.
The private-equity firm isn’t required by the New York Stock Exchange, where its shares are listed, to have a compensation committee because the firm is considered a limited partnership. As a result, executive compensation decisions are left to Kravis and Roberts, who are cousins and serve as co-chairmen of the company’s board of directors.
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