David Solomon, a renowned investment banker, businessman, and DJ, has made a significant impact in the financial and music industries. As the Chief Executive Officer of Goldman Sachs, he oversees one of the world’s largest investment banks. Additionally, under his DJ alias DJ D-Sol, Solomon has built a name in the electronic dance music scene. As of 2024, his net worth is estimated to be $200 million, accumulated through his executive roles, stock holdings, and music career.
Early Life and Education
Born in 1962 in Hartsdale, New York, David Michael Solomon grew up in Scarsdale, New York. His father, Alan Solomon, worked as an executive vice president at a small publishing company, while his mother, Sandra Solomon, was an audiology supervisor. Solomon attended Edgemont Junior-Senior High School before enrolling at Hamilton College in Clinton, New York, where he earned a Bachelor of Arts degree in political science and government.
After graduating, Solomon applied for an analyst position at Goldman Sachs but was rejected. Instead, he began his career at Irving Trust, marking the first step toward his future success in finance.
Career in Investment Banking
Early Banking Career
David Solomon worked at Drexel Burnham Lambert in 1986, selling high-yield debt (junk bonds). He quickly gained experience in the industry and transitioned to Bear Stearns, where he led the junk bonds division.
Rise at Goldman Sachs
In 1999, Solomon joined Goldman Sachs as a partner in the leveraged finance division. His decision to leave Bear Stearns shocked many, as he was seen as a rising leader within the firm. Over the next two decades, Solomon climbed the ranks at Goldman Sachs:
- 2006: Became head of investment banking, leading a transformation that doubled profit margins.
- 2016: Appointed President and Co-Chief Operating Officer, working alongside Harvey Schwartz.
- 2018: Became CEO of Goldman Sachs after Schwartz resigned.
- 2019: Named Chairman of Goldman Sachs.
Solomon played a crucial role in modernizing Goldman Sachs’ business model, focusing on consumer banking, technology investments, and asset management.
Net Worth and Salary Breakdown
David Solomon’s net worth stands at approximately $200 million, with significant earnings coming from his role at Goldman Sachs and investments.
Goldman Sachs Compensation
Solomon’s base salary is $2 million per year, but his total annual earnings range from $20 million to $35 million due to stock awards and bonuses. Here’s a breakdown of his earnings in recent years:
- 2018: $23 million
- 2019: $27.5 million
- 2020: $17.5 million (due to a $10 million pay cut over the 1MDB scandal)
- 2022: $35 million
- 2023: $25 million
Stock Holdings
David Solomon directly owns 147,000 shares of Goldman Sachs and has 240,000 unvested shares. Depending on stock prices, his stake is worth:
- At $200 per share: $80 million
- At $450 per share: $175 million
Real Estate Investments
David Solomon has been active in luxury real estate investments, buying and selling multi-million-dollar properties:
- Aspen, Colorado (2005): Purchased an 80-acre estate for $4 million. In 2020, he sold two parcels separately:
- 45-acre property with a mansion: Sold for $19.5 million
- 38-acre vacant lot: Sold for $7 million
- New York City (2016): Listed his San Remo apartment for $24 million and sold it for $21 million within a month.
DJ D-Sol: The Music Career of David Solomon
Apart from finance, Solomon is a successful electronic dance music DJ under the alias DJ D-Sol. He started producing music in 2018 and has performed at major music festivals and nightclubs worldwide.
Music Achievements
- 2018: Released debut single “Don’t Stop”, which amassed 8 million+ streams.
- 2020: Partnered with Big Beat/Atlantic Records to launch Payback Records, donating profits to charities focused on hunger relief, addiction recovery, and COVID-19 aid.
- 2022: Performed at Lollapalooza and Bottle Rock’s Silent Disco.
Billboard Chart Success
Several of Solomon’s tracks have charted on Billboard’s Dance/Mix Show Airplay:
- “Don’t Stop” – Peaked at #39
- “Feel Alive” – Reached #4
- “Rescue Me” – Hit #4 on Dance Club Songs and #37 on Hot Dance/Electronic Songs
- “Someone Like You” – Peaked at #4
High-Profile Performances
- 2017: Electronic Music Awards, Los Angeles
- 2020: Super Bowl Event with Marshmello and the Black Eyed Peas
- 2020: Opened for The Chainsmokers at a charity concert for COVID-19 relief
- 2022: Performed at Lollapalooza and Bottle Rock Festival
Personal Life and Philanthropy
David Solomon married Mary Elizabeth Solomon in 1989, but they separated in 2018. He has served on the Hamilton College Board of Trustees since 2005 and became Chairman in 2021. Additionally, he serves on the Board of Directors for the Robin Hood Foundation, which works to combat poverty in New York City.
Future Outlook
Solomon continues to be a dominant figure in both finance and music. His leadership at Goldman Sachs has modernized the firm, while his DJ career has brought him a new level of global recognition. With an estimated net worth of $200 million, he is expected to continue expanding his wealth through stock investments, music endeavors, and real estate holdings.