Goldman top five to share $700m
Monday 12 April 1999
GOLDMAN SACHS, the US investment bank coming to the stock market next month, will reveal today that its top five partners will pocket shares worth about $700m (pounds 435m) from the float. Details in the pathfinder prospectus will show that Hank Paulson, the chairman (pictured), will be the largest beneficiary, with a stake valued at $200m. John Thornton, the co-chief operating officer, is in line for $140m, along with the other chief operating officer, John Thain. A small portion of the equity will be handed to all Goldman's 13,000 staff.
The prospectus will also show that the indicative price of the float has been raised to $45 to $55 per share, valuing the firm at $25bn.
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