Investors lose over 50% but DraftKings Management Wins
DraftKings Inc. reported losses of $1.38 billion in 2022, while revenue grew 73% to $2.24 billion. Despite this, the total compensation for the three co-founders of the online sports betting and digital sports entertainment company increased significantly. Co-founder and CEO Jason Robins’s total compensation in 2022 was $47.47 million, up 238% from the $14.03 million he received in 2021. Co-founders Mathew Kalish and Paul Liberman also saw their total 2022 compensation rise 257.5% and 258%, respectively, from the previous year. The total compensation for the three co-founders was $129.25 million, up 250% from $36.89 million the year before. The CEO pay ratio for DraftKings in 2022 was 427:1, up from 137:1 in 2021.