KKR bosses earn $94m
HENRY Kravis and George Roberts, the co-founders and chief executives of KKR, have each received a payout of around $94m from the private equity group.
The two 68-year-old cousins earned about $64.2m each in cash dividend payments from their combined 25 per cent stake in KKR last year, according to documents filed with the Securities and Exchange Commission yesterday.
They also earned a fixed salary of $300,000 each and $29.3m in carried interest payments – or their share of profits the firm made from its investments.
Private equity firms and hedge funds have come under fire in the US for the way their executives are able to exploit a tax break that allows carried interest payments to be treated as a capital gain – taxed at a 15 per cent rather than 35 per cent levied on salary income.