DraftKings CEO Jason Robins’s pay packet more than triples to nearly $50 million

Finance News

DraftKings reported $1.38 billion in losses in 2022, narrower than the $1.52 billion it lost the year before, while revenue grew 73% to $2.24 billion. 

The stock (DKNG) plunged 58.5% in 2022, compared with the S&P 500’s 19.4% decline. And in 2021, the stock tumbled 41%. So far this year, it has bounced $6.42, or 56.4%, to recover about 40% of the $16.08 it lost last year and about 18% of the $35.17 it lost over the past two years. 

The company’s 2022 proxy statement, filed with the Securities and Exchange Commission late Friday, included details of executive compensation. 

Co-founder and Chief Executive Jason Robins’s total compensation in 2022 was $47.47 million, up 238% from the $14.03 million he received in 2021. In 2020, which was the year DraftKings went public, Robins’s total compensation was $236.83 million.