JP Morgan CEO Jamie Dimon has bought 500,000 shares in the bank he runs, according to those familiar with the buy. According to the story, the purchase cost about $26 million for the 500,000 shares. But that's hardly the interesting part. Dimon received $27 million in total compensation for 2015. Broken down, it's $1.5 million in salary, $5 million in cash bonus and $20.5 million in performance share units (PSUs), according to an SEC filing.
That works out to a 35% raise from his $20 million compensation for 2014. Now central banks can't seem to find any inflation with an electron microscope. The COLA crowd got screwed again with no bump up for their cost of living by the current administration, at least the second time in eight years.
Bank stocks are down 20% since the first of the year. Official inflation, depending on whom you choose to believe, is below one percent. So Dimon's raise is about 35% greater than the inflation rate.
We bet you can't stop laughing about that one.
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