Roblox Awards CEO Pay Package Values More Than $230 Million

Roblox Corp's boss received a $233 million salary package, and he was quickly promoted to the ranks of the country's highest-paid CEO, securities filing said.

Roblox co-founder and CEO, David Baszucki was paid only $6.8 million in 2020. Most of his 2021 packages consist of restricted stock, subject to the company achieving certain milestones. This is a common retention tool that emphasizes how some executives make large payments.

Baszucki’s package approaches that of the biggest pay package so far disclosed for 2021 for S&P 500 companies, that of the CEO of Discovery Inc, David Zaslav, at $247 million. Two other companies have also reported higher packages for their CEOs, including more than $500 million each for KKR & Co’s CEO and $308 million for Endeavor Group Holdings Inc’s CEO. 

In a regulatory filing last month Intel Corp. revealed that its CEO Pat Gelsinger received close to $180 million last year in connection with performance goals aimed at dramatically improving stock prices. 

Roblox operates a free online platform with millions of games made by its own users. Mr Baszucki started building it in the early 2000s with fellow programmer Erik Cassel and it launched in 2006.

New York has introduced a new law that requires employers to include salary ranges in job postings. Similar legislation in places like Colorado aims to level the competition for applicants. But not everyone welcomes the change.