Su Dewei (David Solomon), chief executive of Goldman Sachs Group, is using "creativity" to break the rules and increase his income.

The Wall Street Journal reported that Goldman Sachs Group's chief executive and a group of deputies are drawing profits from the company's private equity funds. This could allow these executives to earn hundreds of millions of dollars in additional income over the next few years, several times their annual salary.

But Su Dewei's perks are likely to infuriate shareholders and Goldman Sachs Group's fund managers because the money will flow out of their pockets.

As an important player in Wall Street's private equity sector, Goldman Sachs Group has $426 billion in self-owned and client funds for corporate acquisitions, investment loans, real estate and other investment funds.

Traditionally, the profits of the relevant private equity funds have been shared by the fund managers who operate the market, with a total profit distribution of 50%. But under Mr Su's new distribution mechanism, the traditional 50 per cent share of profits for fund managers will be reduced to 35 per cent; the other 10 per cent will be allocated by Goldman Sachs Group's about 400 partners; the last 5 per cent will go to Mr Su and his closest deputies (fewer than 12).

Goldman Sachs Group doubled Su Dewei's salary to $35 million in 2021 as a result of record profits from the Wall Street trading boom, according to public information. Half the peak of his predecessor, Lloyd Blankfein (Lloyd Blankfein), before 2008. Affected by Goldman Sachs Group's 1MDB scandal in Malaysia, Su Dewei earned $17.5 million in 2020, down $10 million from the previous year.

Overall, Su Dewei's salary is much lower than that of his Wall Street private equity counterparts. According to public information, the salary of Wall Street private equity co-CEO Joseph Bae reached a staggering $560 million in 2021.