GameStop CEO Ryan Cohen could score $35 billion—if he turns things around
GameStop just offered CEO Ryan Cohen a jaw-dropping $35 billion in stock options, but there's a catch: he only gets it if he can seriously boost the company's numbers.
To cash in, GameStop needs to hit some huge goals, like reaching a $100 billion market cap and $10 billion in cumulative performance EBITDA.
The setup is pretty much all-or-nothing, taking cues from Elon Musk's Tesla deal.
Big payout despite tough times—and board is on board
Even though GameStop's revenue has dropped 35% since 2022 and its stock price is way down from its 2021 high, Cohen's package stays on the table because it depends on future success.
He can buy shares at $20.66 each if targets are met—potentially making him billions (minus a hefty exercise cost).
The board already approved the plan, but shareholders still need to sign off this spring.
After the news broke, GameStop shares actually jumped over 4%, showing investors are hopeful about Cohen steering this turnaround.