David Solomon, an influential American figure, has an estimated net worth of $200 million. His career spans both the high-powered investment banking world and the vibrant electronic dance music (EDM). Currently serving as the CEO of Goldman Sachs, Solomon has made a significant impact on the company, particularly after taking the helm in 2018. He has also held the role of chairman since 2019. Beyond his leadership at Goldman Sachs, Solomon is a recreational DJ, producing and performing under the alias DJ D-Sol.
A Career Rooted in Investment Banking
David Solomon’s rise in the financial sector began in the late 1980s. After graduating from Hamilton College with a degree in political science, he started his professional journey at Irving Trust. Following a brief stint there, Solomon moved to Drexel Burnham in 1986, where he worked his way up from selling paper to specializing in junk bonds. This experience proved valuable and led to his next role at Bear Stearns, where he ran the junk bonds division.
In 1999, Solomon joined Goldman Sachs at the age of 37, becoming a partner. His deep understanding of leveraged finance made him a vital asset to the firm. Over the next decade, he transformed Goldman’s investment banking division, doubling its profit margins and boosting sales significantly. Solomon’s reputation within the firm led to his promotion to president and co-COO in 2016. By 2018, Solomon was named CEO, marking the culmination of a long career at Goldman Sachs.
Financial Earnings and Stock Holdings
David Solomon’s compensation package reflects his prominent position at Goldman Sachs. His base salary stands at $2 million annually, but with bonuses, stock options, and other benefits, his earnings typically range between $20 million to $30 million per year. For example, in 2018, his total compensation amounted to $23 million, which increased to $27.5 million in 2019.
In addition to his salary, Solomon holds a significant amount of Goldman Sachs stock. He directly owns 147,000 shares and has an additional 240,000 unvested shares, making his total stock holdings approximately 387,000 shares. Based on the fluctuating stock prices of Goldman Sachs, his stake is worth between $80 million and $175 million before taxes.
A Passion for Music: DJ D-Sol
Outside of his corporate responsibilities, David Solomon is an avid lover of electronic dance music. He performs as DJ D-Sol, a moniker that allows him to pursue his passion for music in his spare time. Solomon’s debut single, “Don’t Stop,” was released in 2018 and quickly garnered significant attention, amassing millions of streams. He has performed at numerous high-profile events, including festivals in cities like New York, Miami, and the Bahamas. His music is available on platforms such as Spotify, where he has built a solid following with over 550,000 listeners.
Solomon’s music ventures extend beyond performance, as he founded Payback Records in 2018 in collaboration with Big Beat/Atlantic Records. The label exclusively releases his work, and all proceeds from the label are donated to charity, focusing on causes like addiction recovery, hunger relief, and COVID-19 support.
Real Estate Ventures
David Solomon has also made significant investments in real estate. In 2005, he purchased an 80-acre estate in Aspen, Colorado, for $4 million. Over a decade later, he listed the property for sale at $36 million, ultimately splitting it into two parcels. The first parcel, featuring a 13,000-square-foot mansion, was sold for $19.5 million, while the second vacant lot fetched $7 million in 2020.
In New York, Solomon owned an apartment in the prestigious San Remo building, which he put on the market in 2016 for $24 million. After a quick sale, the apartment went for $21 million.
Early Life and Education
David Solomon was born in 1962 in Hartsdale, New York, to Alan and Sandra Solomon. His father worked as an executive vice president in a publishing company, while his mother was an audiology supervisor. Solomon grew up in nearby Scarsdale, attending Edgemont Junior-Senior High School. He later pursued higher education at Hamilton College in Clinton, where he earned a degree in political science.
Following graduation, Solomon’s first attempt to join Goldman Sachs was unsuccessful. Instead, he secured a position at Irving Trust, where he worked before moving on to Drexel Burnham in 1986. His career trajectory shifted further when he joined Bear Stearns before making the pivotal decision to join Goldman Sachs in 1999.
Rise Through Goldman Sachs
David Solomon’s early years at Goldman Sachs were marked by rapid advancement. At just 37 years old, he became a partner in the firm. His deep expertise in leveraged finance proved invaluable as he led the division through a period of significant growth. During his time as the head of Goldman Sachs’ investment banking division, Solomon was credited with substantially improving profitability and boosting sales.
In 2016, Solomon’s role expanded when he became president and co-COO of Goldman Sachs, working alongside Harvey Schwartz. When Schwartz resigned in 2018, Solomon assumed the role of CEO. Under his leadership, Goldman Sachs continued to expand and navigate challenges in the financial sector.
DJ D-Sol’s Notable Performances
When not overseeing the operations of Goldman Sachs, David Solomon is busy performing as DJ D-Sol. His musical journey has taken him to notable events such as the Electronic Music Awards in 2017 and the Super Bowl Event in Miami in 2020, where he shared the stage with major acts like Marshmello and the Black Eyed Peas.
One of his standout performances occurred in 2018 when he participated in a charity event at Hamilton College, raising awareness for the opioid epidemic. Solomon also appeared in the Showtime series Billions in 2020, portraying a version of himself. Additionally, his performance at the Lollapalooza music festival in 2022 garnered attention, with all the proceeds going to charity.
Music Career and Charitable Efforts
David Solomon’s contributions to the music industry include collaborations with well-known artists like Kool & the Gang and remixes of popular tracks like Jennifer Lopez’s “On My Way.” His single “Don’t Stop” made it to #39 on the Billboard Dance/Mix Show Airplay chart, and “Feel Alive” reached #4. Other tracks like “Rescue Me” and “Someone Like You” also made waves on various Billboard charts.
His charitable work is integral to his music career, with all proceeds from his music and performances directed toward causes close to his heart. This includes efforts to combat addiction, provide hunger relief, and support COVID-19 recovery.
