Steve Wynn got us$ 8.45 million in 2008 as CEO of Wynn Resorts
Wynn's pay package in 2008 totaled us$ 8.45 million, including us$ 3.25 million in salary, us$ 4.06 million in performance-based cash bonuses and us$ 1.14 million in perks, mostly for personal use of a company aircraft, Wynn Resorts reported in a proxy statement filed with the U.S. Securities and Exchange Commission.
Wynn was not granted any stock or options in 2008. His other perks included us$ 29,718 in life insurance premiums, us$ 18,518 toward a medical plan and us$ 11,795 for personal use of a driver the company employs. Wynn's compensation totaled us$ 11.2 million in 2007.
Wynn holds a 21.4 % stake, or 24 million shares, in his Las Vegas-based company, which owns casinos in Las Vegas and the Chinese gambling enclave of Macau. Kazuo Okada, the founder of Japanese pachislot and pachinko machine maker Aruze Corp., holds an even greater stake - 21.8 % of the company's outstanding shares.
Shares of Wynn Resorts dropped from us$ 109.38 on January 2, 2008 to us$ 42.21 on December 30, making Wynn's stake worth just over us$ 1 billion as of the end of the year. The stock has fallen by nearly half since then. It closed Thursday at us$ 22.70.
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