City bonuses mean more millionaires
Howard Lake | 18 December 2000 | News
Christmas bonuses in the City of London this month could produce 200 multi-millionaires and a couple of thousand people receiving one million pounds. Some estimates suggest that at least 6,000 people will receive at least £250,000. At Goldman Sachs for example, £4.45 billion could be shared amongst 15,000 people, with the majority going to the 165 managing directors of the bank.
Some of these recipients will have received similar bonuses in the past, so these figures do not suggest new millionaires. Whether any of this income is donated to charity is not known.
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.