Almost all of that was in the form of stock awards, with their actual salaries coming in at $250,000 each. Also included is the use of a chauffeured car, on which Kravis spent $99,000 and Roberts spent around $144,000.
For context, Blackstone Group boss Steven Schwarzman’s 2009 salary was $350,000. His total 2009 compensation was over $7.8 billion — almost all of which was stock awards. Leon Black of Apollo Group, on the other hand, had a 2009 salary of $100,000 and total compensation of around $787,000.
In terms of fees and carried interest compensation, KKR reports:
Cash distributions to our named executive officers in respect of their interests in the management companies of our funds for the year ended December 31, 2009 were $17.8 million to Mr. Kravis, $17.8 million to Mr. Roberts, $4.3 million to Mr. Fisher, $2.0 million to Mr. Janetschek and $2.3 million to Mr. Sorkin. Carried interest distributions to our named executive officers in respect of their interests in the general partners of our funds for the year ended December 31, 2009 were $0.5 million to Mr. Kravis, $0.5 million to Mr. Roberts and $0.1 million to Mr. Fisher.
KKR’s disclosure comes as the firm prepares to shift its public listing from Amsterdam to the New York Stock Exchange. The firm has until October to do so, after which the move is at the discretion of Amsterdam unit-holders.
Neither Kravis nor Roberts are expected to sell personal shares as part of the re-listing, and KKR reportedly may postpone plans for a separate public float that was designed to raise $500 million.