Edgar Bronfman’s First Cash (But Not His Last) From Warner Music Group Sale: $5,960,000
No wonder he's smiling. Trusts controlled by Warner Music Group CEO Edgar Bronfman Jr. were sold for $5.96 million on May 27, May 31 and June 1 according to an SEC filing on June 1st. But this is not the last cash that Bronfman can take from WMG in the wake of the music group's sale to Access Industries.
In addition to reportedly keeping his well paid job running WMG, Bronfman has direct ownership of 6.8 million shares of the company, according to the SEC filing. At the $8.25 a share winning bid by Access Industries, Bronfman's shares are worth $56.1 million. There is also the possibility that more shares held in other trusts by Bronfman and members of his family.