Who Owns Goldman Sachs?
Partners, now called managing directors. Only group with voting rights. They own 100% of the firm. These 190 people get 76% of the annual profits or losses but must keep their money in the firm. Their stakes range from approximately 0.25% to 1%. Meanwhile, they get $300,000 a year in salary, and a fixed rate of return.
Limited partners. Nonvoting. Retired managing directors who must leave the bulk of their accumulated earnings in the firm for up to 14 years. They receive a fixed rate of interest.
Sumitomo Bank and Bernice Pauahi Bishops Estate. Nonvoting. They receive about 20% of annual earnings or losses.
Senior limited partners. Nonvoting. These are institutional investors, mainly insurance companies. They receive a fixed rate of interest. Begins to mature in 2001.
Nonpartner employees. Nonvoting. Profit-sharing plan with no fixed interest rate, but receive approximately 4% of the firm's annual profits or losses.
ESTIMATED TOTAL CAPITAL (as of Dec. 1, 1997)
DATA: BUSINESS WEEK, MOODY'S INVESTORS SERVICE
Return to main story