The boss of Universal Music received the highest remuneration in the history of the Netherlands

Lucian Grainge, chairman and CEO of Universal Music Group, on January 24, 2020 in Santa Monica, California.

According to the daily "De Volkskrant", Lucian Grainge, earned more than 274 million euros in 2021. Getty Images via AFP - JESSE GRANT

Text by: RFI Follow

1 min

It's a little bomb dropped by the Dutch press.

The daily

reports that the CEO of Universal Music Group, the American Lucian Grainge, received more than 274 million euros in 2021.

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With our correspondent in Brussels

,

It was the IPO of Universal Music Group that allowed Lucian Grainge to receive the highest remuneration in the history of the Netherlands.

When the group is

last September, success is at the rendezvous.

With its extraordinary catalog featuring Bob Marley, the Beatles and even Bob Dylan, the label attracts investors, and at the same time ensures the income of its boss.

Lucian Grainge first receives a bonus of nearly 195 million euros after this successful IPO.

There will be added three other bonuses of respectively 17.5 million euros, 20.9 million euros and 24.7 million euros.

Figures that make you dizzy and to which must be added a base salary of nearly 13.2 million euros as well as three million euros of "other benefits" according to the annual report of the Universal group.

Total therefore: 274 million euros.

At the head of the largest music label in the world since 2011… Lucian Grainge is associated with several years of growth for Universal, in particular thanks to the development of links with streaming platforms such as Spotify.

It was Universal's parent company - France's Vivendi - still a major shareholder in the group, which paid the extras, saying it wanted to reward the CEO for increasing Universal's value from $6 billion to $55 billion during the IPO. 

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