Goldman top five to share $700m

Sunday 11 April 1999 23:02 BST

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Goldman top five to share $700m

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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