Michael Rapino, chief executive of Live Nation Entertainment Inc., earned more than $70 million last year, making him one of the highest-compensated executives in the U.S.—even though the concert company he runs isn’t big enough to rank in the S&P 500.
The outsize pay package came amid a boom in the live-events business that Live Nation dominates. The company is the world’s largest concert promoter and the parent of Ticketmaster, hawking tickets to Taylor Swift’s Reputation tour and exporting the U.K.’s Creamfields festival to China.
Mr. Rapino’s total compensation in 2017 was $70.6 million, including $58.6 million in stock awards that vest over several years. That made him the highest-paid CEO among 1,000 U.S. public companies outside the S&P 500, according to a Wall Street Journal analysis of executive pay at companies in the small-cap S&P 600 and mid-cap S&P 400.
That payday ranked Mr. Rapino second among CEOs at S&P 1,500 companies who served the full year, based on data available through April 30. No. 1 is Hock Tan, CEO of Broadcom Ltd. , who made $103 million. The pay figures were compiled by MyLogIQ LLC, a provider of public-company data and analysis.