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Airbnb co-founder and CEO Brian Chesky’s total compensation topped $120 million in 2020, based on $119.88 million in stock grants he got for stewarding the company through toughest year in travel and into a blockbuster IPO, the company said in a financial filing late Friday.
The Airbnb board granted Chesky a 10-year award of 12 million restricted stock units, worth just under $120 million, in November, a month before the company’s historic initial public offering. The stock awards are performance based, meaning the Airbnb CEO only realizes them based on the company’s stock hitting pre-defined targets.
Airbnb opened at $146 per share on its first day of trading on Thursday, more than doubling the $68 per share price set for its IPO the day before. The company is going public at a time when the sector has been battered by reduced-travel trends during the public health crisis. Airbnb shares ended the |
Since early 2017, the travel industry and beyond have been speculating about an Airbnb IPO. Years later, the start-up, which debuted in 2008 when Joe Gebbia and Brian Chesky rented out air mattresses in their San Francisco apartment, has officially gone public, with a market capitalization of some $101.6 billion. Thatâs more than Expedia Group and Marriott International combined, according to
âToday signifies that we re no longer the alternative,â says Gebbia. âA lot of people used to say, âOh, thatâs the alternative booking platform.â But we ve become people s first choice.â
So what does the IPO mean to Airbnbâs guests and hosts? Not much, if you ask Gebbia. âBeing public will just allow us to keep investing in new features and capabilities for guests and hosts,â he says. âIt s not the beginning of anything, it s not the end of anything, itâs just a milestone on a much longer journey.â
Airbnb IPO Surging Higher on First Day of Trading etftrends.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from etftrends.com Daily Mail and Mail on Sunday newspapers.