The 63-year-old’s pay packet is up 21% from $38 million in 2024. He was paid $31 ​million in 2023.

Solomon earned a base salary in 2025 of $2 ‌million and $45 million in annual variable compensation, Goldman said in a regulatory filing.

It means he bests JPMorgan CEO Jamie Dimon, who picked up a compensation package worth $43 million for 2025, a 10.3% increase from the previous year.

Solomon’s pay for 2025 of $47 million was released by Goldman in a regulatory filing on Friday. REUTERS

Solomon and his right-hand man, Goldman president and chief operating officer John Waldron, each agreed to $80 million stock-based retention bonuses last year to keep them at 200 West St., Goldman’s main HQ, until January 2030.

Waldron, 55, is widely tipped to take over from Solomon when he eventually decides to call it a day as the bank’s chief executive.

The announcement follows blockbuster Q4 results, boosted by a revival in M&A activity, announced at 200 West Street last week. Christopher Sadowski

A Goldman spokesperson directed The Post to statements made by the bank’s compensation committee.

Executives said they had considered several factors, but stressed that Solomon had overseen a “strong performance in support of our clients across global banking & markets and asset & wealth management.”

The Wall Street veteran also saw the price of Goldman shares increase by just over 53% in 2025.

Solomon announced financial results last week for the fourth quarter of last year that beat analysts’ expectations.

He said that he was upbeat about the prospects for M&A and IPOs this coming year, pointing to a more favorable regulatory climate under the Trump administration.

“CEOs definitely believe that ‘The Art of the Deal’ – scaled consolidation – is possible now,” the 63-year-old said on Jan. 15 in an apparent reference to President Trump’s book on business negotiations.

He joined the bank as a partner in 1999 after leaving Bear Stearns and rose through the ranks ​to eventually succeed Lloyd Blankfein, who ‍led Goldman through the 2008 financial crisis and its aftermath.

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The 34-year-old state assemblyman is aiming to become the youngest mayor in over a century in the Big Apple. 

Having already outflanked former governor Andrew Cuomo in the Democrat primary in recent months, the Uganda-born democratic socialist is well-placed to complete his rise to the top job in the biggest city in the United States. 

“When I walked the length of Manhattan just a few days before the election, hundreds of New Yorkers marched alongside me,” Mamdani said. 

“And when we strode into Times Square under a billboard with (Kalshi) odds that showed Cuomo’s chances of winning at nearly 80 percent, we knew that the so-called experts were set to get it wrong yet again.”

Mamdani continued to detail the odds on the Kalshi prediction market, which remain firmly in his favor. 

“When you see the Kalshi odds that have our chances of victory in the 90s, know this: you are reading the same things that Andrew Cuomo read when he went to sleep each night in June, believing that his victory was promised,” Mamdani said.

BREAKING: Zohran Mamdani references his Kalshi odds on stage

Kalshi is mainstream. pic.twitter.com/hLCzqLL7G2

— Kalshi (@Kalshi) October 27, 2025

President Trump warns New Yorkers against Mamdani

The Kalshi prediction market on the New York City mayor election currently gives Mamdani an 89% chance of succeeding Eric Adams to lead NYC over the next four years. 

Kalshi prediction market chart showing Mamdani leading the NYC mayoral race with 89% odds. Credit: Kalshi

Conversely, Cuomo – standing as an independent – is given just an 11% chance of landing a late shock.

If Mamdani is elected, he would become the first Muslim mayor in NYC’s history. 

His prominence and wide appeal to the electorate come from his focus on bread-and-butter issues that have resonated with New Yorkers. He has been firm and focused on cost-of-living essentials, conveying the message that he will address rent and food prices, as well as resonating on salary levels.

Cuomo has attacked his rival on matters of crime and safety, while also suggesting Mamdani does not have the requisite experience to lead New York at this stage of his career. 

Meanwhile, President Donald Trump has warned that he will not look upon Mamdani’s election favorably if that is how the vote plays out. 

He told CBS on Sunday, “It’s gonna be hard for me as the president to give a lot of money to New York, because if you have a communist running New York, all you’re doing is wasting the money you’re sending there.” 

Trump on Mamdani: “I think I’m a much better looking person than him, right? It’s gonna be hard for me as the president to give a lot of money to New York, because if you have a communist running New York, all you’re doing is wasting the money you’re sending there.” pic.twitter.com/SyS0GwHfgQ

— Aaron Rupar (@atrupar) November 3, 2025

Mamdani has rejected the Communist label applied to him by detractors. 

Beyond the main Kalshi market on the mayoral race, the same platform is running various related lines on the NYC vote. 

For Mamdani’s margin of victory, he is currently given a 23% chance of winning by 24 points or more, and a 54% chance of securing at least 50% of the vote.

Image credit: Dmitry Shein / Kalshi

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“I really hate to do that,” Ken Silver, the president of Jim’s South St., a Philadelphia institution known for its cheesesteaks, told the Associated Press when asked about raising menu prices.

“Our strategy right now is just absorbing the price and hoping that we see a reduction after the summer months are over, the grilling season and all the rest,” Silver said.

Jim’s South St. in Philadelphia is absorbing rising beef costs to keep its cheesesteaks, now $13.49, as affordable as possible. Facebook/Jim’s South Street

Silver said he is also considering a “market price” strategy whereby cheesesteaks and other menu items would be listed without a fixed cost, allowing the restaurant to adjust the price based on current ingredient costs that are subject to supply fluctuations.

Beef prices in the US have been steadily rising for years, but the pace of increase has accelerated since the pandemic, driven by a shrinking cattle supply, high production costs and persistent consumer demand.

For Silver, whose father founded the business in 1976, that has meant paying $1 more per pound for beef than he did a year ago — on top of a roughly 50% jump in prices in 2024.

Silver’s cheesesteaks currently sell for $13.49, up from $11.49 in 2022, when the business was forced to shut down for nearly two years following a fire.

The popular sandwich, typically made with thinly sliced beef, cheese and onions, remains a staple in Philadelphia’s food scene.

“Crazy,” he called it. Silver said he got hit with “sticker shock” when he reopened last year.

“The price of beef when we left was $4.68 [per pound] for our choice top round beef,” Silver told ABC News.

“And when we came back it was over $7 a pound.”

Silver said that he has been hesitant to raise prices — a decision that has eaten into his bottom line.

Owner Ken Silver says declaring a ‘market price’ for cheesesteaks is on the table as beef costs continue to rise. Facebook/Jim’s South Street

“We’ve taken a hit, profitability-wise, just to maintain what our customers would expect to get when they come to us: a reasonably priced cheesesteak of the best quality they can find,” Silver said.

Nationwide, the average price of ground beef reached $6.12 per pound last month, according to US government data. That marks an increase of nearly 12% from a year earlier. The average price for all uncooked beef steaks rose 8% over the same period, hitting $11.49 per pound.

Those numbers represent record highs — and they cap off a steady climb in beef prices since the start of the decade. In 2020, the average price of ground beef was $4.63 per pound. By 2021, that figure rose to $4.88, and by 2022, it had jumped to $5.31.

Jim’s South St. reopened in 2024 after a fire. It is now grappling with record-high beef prices amid strong customer demand. Google Maps

Despite a modest 2.3% increase in 2023, the pace picked up again in 2024, with ground beef averaging $5.71 per pound. As of mid-2025, consumers are paying between $6.12 and $6.34 per pound — a rise of approximately 36% since 2020.

Steak prices have followed a similar, though more modest, trajectory. Estimated at around $10.25 per pound in 2020, steak rose to $10.41 in 2021 and $10.64 in 2022.

Prices plateaued in 2023, then resumed climbing to $10.90 in 2024. In 2025, the average for uncooked beef steaks sits at $11.49, reflecting a 12–15% increase over five years.

Behind the surge are several intersecting factors. The US cattle herd has declined to its smallest size since 1951, slashing beef supply and pushing prices upward.

At the same time, farmers have faced higher production costs due to drought conditions, increased grain prices and rising interest rates, which have led many to reduce their herds.

Despite the price hikes, demand for beef has remained strong, particularly during the summer grilling season, which means prices are unlikely to ease in the near future. Some forecasts suggest elevated beef prices could persist into 2026 and beyond, unless herd sizes are rebuilt.

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For decades, a little-known nonprofit organization has played a central role in keeping the lights on for 65 million people in the Eastern United States.

Even some governors and lawmakers acknowledge that they were not fully aware of how much influence the organization, PJM, has on the cost and reliability of energy in 13 states. The electrical grid it manages is the largest in the United States.

But now some elected leaders have concluded that decisions made by PJM are one of the main reasons utility bills have soared in recent years. They said the organization had been slow to add new solar, wind and battery projects that could help lower the cost of electricity. And they say the grid manager is paying existing power plants too much to supply electricity to their states.

Some governors have been so incensed that they have sued PJM, drafted or signed laws to force changes at the organization, or threatened to pull their states out of the regional electric grid.

The Democratic governors of Delaware, Maryland, New Jersey and Pennsylvania sharply criticized the organization in recent interviews with The New York Times and in written statements. And the Republican governor of Virginia, Glenn Youngkin, called on the organization to fire its chief executive in a letter obtained by The Times.

“PJM has lost the plot,” Gov. Philip D. Murphy of New Jersey said in an interview. In another interview, Gov. Wes Moore of Maryland said about PJM, “I am angry.”

The elected leaders — some of whom may run for president in 2028 — and their aides said PJM’s executives, board members and committees made many important decisions in secret. And too many decisions, like whether to make it easier or harder for new power projects to join the grid, effectively benefit established energy companies at the expense of residents and businesses that use electricity.

The governors’ fury at PJM is part of broader frustrations expressed by elected officials, residents and businesses over U.S. grids. After decades of modest and gradual rate increases, the price of power has climbed relentlessly over the last several years.

The cost of electricity for residents of Delaware, Maryland, New Jersey, Pennsylvania and Virginia has increased from 23 to 40 percent over the last five years.

Energy costs rose sharply after natural gas prices spiked when Russia invaded Ukraine in 2022. But electricity rates continued to climb after that shock because energy demand is growing rapidly, driven largely by new data centers.

In addition, power outages have become more frequent because utility equipment had been poorly maintained and was not upgraded for more intense natural disasters linked to climate change.

A spokesman for PJM said the organization was sensitive to the concerns of the governors but noted that it was regulated by a federal agency.

“The opinions of our governors are very important to PJM, and we share their concern about increasing electricity prices — a phenomenon occurring across much of our country,” said the spokesman, Jeffrey P. Shields. “PJM has no profit motive, no shareholders and no share price. We are fully regulated by the Federal Energy Regulatory Commission and cannot make any major changes without that body’s approval.”

When it was formed in 1927, the organization was meant to connect the operations of three utilities in Pennsylvania and New Jersey. Utilities in Maryland were later added, forming the Pennsylvania-New Jersey-Maryland Interconnection, or PJM. Working together allowed the utilities to share resources, cutting costs.

The organization’s main job is to oversee the flow of energy over transmission lines that carry electricity from power plants to cities and towns. PJM also devises and enforces policies about when and which types of power plants are added to the grid.

Over nearly 100 years, the PJM grid has grown to encompass all or parts of 13 states and the District of Columbia, stretching roughly from Chicago to Virginia Beach.

PJM has a nine-member board of managers, all of whom have worked in the energy industry or in other senior corporate jobs. It also has more than 1,000 voting members, most of which are utilities, power plant companies, transmission line owners and energy traders.

Most of those voting members have a direct financial stake in the organization’s decisions. Members typically vote on policies and issues. Some of the meetings are public, but others, including smaller committee meetings where preliminary decisions are made, are not.

PJM is one of seven large U.S. grid operators. Each functions differently. Some are confined to single states like California and Texas, and their boards answer to state officials. California is considering expanding the authority of its grid manager to include other Western states under a PJM-style model.

Other grid managers function like PJM, as independent organizations that pick their own board members and chief executives with no input from governors.

“What the problem is at PJM is that it is controlled and influenced by the corporate energy companies that constitute its membership,” said Tyson Slocum, director of the energy program at Public Citizen, a nonprofit research and consumer group started by Ralph Nader. “It puts energy company lobbyists in the driver’s seat at PJM.”

Mr. Slocum added that the federal regulator that oversees PJM and other grid managers was too reactive to adequately police these organizations.

The Federal Energy Regulatory Commission has long pushed PJM to reform and speed up approval of new sources of electricity like wind, solar and battery projects. But progress has been slow. Critics blame PJM for that, but the organization says permitting delays, financing challenges, government decisions and other factors are more to blame.

A spokeswoman for the federal agency said it could not comment because of pending regulatory matters.

But at a meeting last week, the agency’s chairman, Mark Christie, said reforms at PJM and other regional grids were overdue. He asked if the organizations had failed and should be replaced.

“For years I’ve been saying we are heading toward a reliability crisis,” Mr. Christie said. “The crisis is really now on our doorstep.”

A 2024 report by Columbia University’s School of International and Public Affairs concluded that PJM “has experienced the most severe delays and backlog in new generation — projects entering the queue today have little chance of coming online before 2030.”

The time it takes to add new sources of electricity is critical because demand for energy is growing rapidly. PJM’s territory includes northern Virginia, which has the country’s largest collection of data centers. Technology companies want to add many data centers in other PJM states, particularly Ohio and Pennsylvania.

Mr. Shields said PJM had reduced the backlog of power projects waiting to join its grid, recently approving new capacity that can serve 40 million homes.

In response to criticism of secrecy, he said that PJM holds more than 400 stakeholder meetings each year and that the vast majority are open to the public. And the organization makes documents available to the public on its website.

But many state officials said PJM existed mainly to benefit the utility industry.

Over the last three years as electricity rates rose sharply in Maryland, a state lawmaker, Lorig Charkoudian, a Democrat, pushed for legislation that would force utilities in her state to disclose their votes at PJM. Mr. Moore signed the bill into law last month.

Ms. Charkoudian said a handful of PJM states had drafted or were working on similar legislation.

In interviews, Governor Murphy of New Jersey and Gov. Matt Meyer of Delaware — both Democrats — said they supported the legislation and were working on other efforts to reform PJM.

Other states have gone even further.

In December, Gov. Josh Shapiro of Pennsylvania sued PJM after the grid manager conducted an annual auction in which power plant owners submit the price they are offering to supply energy when demand surges, which often happens in summer. The prices set by the auction would have resulted in big price increases for electricity users. The highest bid in the auction contributes to the final price PJM sets for all generators, meaning even power plant owners willing to accept less money would be paid the higher prices.

The state and PJM reached a settlement that caps the price set by the auction. Mr. Shapiro said the deal would save Pennsylvanians $21 billion over two years.

“I do not think PJM is serving the good people of Pennsylvania well,” Mr. Shapiro said in email responses to questions. “We’ve got to re-examine whether or not Pennsylvania should be a member of PJM. We are a net energy exporter, meaning we create more energy than we actually need. That puts us in a strong position to both keep consumer prices low and also create markets in other states.”

Mr. Shields said the complaint had been supported by five of the six states affected by it. He said the settlement maintained the effectiveness of the existing market design while supporting reliability and affordability of the grid for consumers.

But the settlement angered at least one other governor.

In a February letter to the chairman of PJM’s board, Governor Youngkin of Virginia criticized PJM for not consulting other states before settling with Pennsylvania. He said the deal was part of the grid manager’s piecemeal approach to running its system that was driving up electricity costs. Mr. Youngkin also said the organization should fire its chief executive.

“Instead of seeking to resolve these fundamental issues through open and transparent dialogue with all states, including Virginia, as well as other stakeholders, PJM leadership negotiated a one-off deal with a single state that impacts rates for all PJM customers,” Mr. Youngkin wrote.

Mr. Shields said Mr. Youngkin withdrew the letter without formally submitting it to the full organization “at PJM’s request.”

Last month, PJM announced that its chief executive, Manu Asthana, would step down by year’s end. The organization said the decision had preceded Mr. Youngkin’s letter.

“We’re spending our time talking about the wrong things,” Mr. Asthana said in a statement. “Prices are up because of tightening supply and demand driven by generator retirements and data center growth, and it’s impacting consumers. We need to be working together on additional ways to bring supply onto the system rapidly.”

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Egg prices continued their upward climb in February despite some easing in overall inflation, further straining consumers seeking relief from rising prices in the grocery aisles.

Data from the Bureau of Labor Statistics released on Wednesday showed that egg prices rose 10.4 percent from the previous month, to nearly $5.90 for a dozen large Grade A eggs, as an outbreak of avian influenza continued to contribute to a nationwide shortage. That is slightly lower than the 15-percent-plus surge in January, the largest monthly increase in egg prices in a decade. But since last year, egg prices are up nearly 60 percent.

Food prices more broadly rose 0.2 percent in February, or 2.8 percent compared with the same time last year.

Eggs have driven overall increases in grocery prices in recent months. During the presidential campaign last fall, President Trump blamed the Biden administration for inflation and vowed to bring down prices. But the steep rise in consumer staples, including eggs, has complicated that promise as his tariff policies stoke further concern about inflation.

Producers have blamed the spread of avian flu, which has forced them to cull millions of hens, for tighter supplies and high prices. United Egg Producers, the industry’s trade association, has noted that in 2024, the industry lost more than 40 million egg-laying hens to the virus, while in just the first two months of this year, 31 million were killed.

The Justice Department is in the early stages of an antitrust investigation of major egg producers in the United States after advocacy groups and lawmakers called for regulators to investigate the industry’s pricing practices. Cal-Maine Foods, which is publicly traded and controls about a fifth of the market, reported an 82 percent jump in revenue for the quarter that ended in late November.

The Agriculture Department said in February that it was looking into importing more eggs and increasing funding for efforts to combat the spread of avian flu.

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