Cheniere Energy Inc. CEO Charif Souki received compensation valued at $142 million in 2013, most of it in stock rewards tied to performance milestones.
The Wall Street Journal said it may be the richest CEO pay package for 2013, according to Equilar Inc., a firm that tracks executive pay.
Houston-based Cheneire is developing facilities to liquefy and export natural gas from the U.S. Gulf Coast.
About $133 million of his 2013 pay came from stock awards.
In 2012, Souki, 61, was paid $57.5 million.
Shares in Cheniere sold for less than $2 five years ago but now trade at more than $55.
Cheniere’s market value based on its stock price is now $12.48 billion, the report said.
“It has lost money every year since its founding in 1996, according to Standard & Poor’s Capital IQ,” the WSJ said.
Cheniere estimates its contracts will bring in at least $2.3 billion a year by 2017, the report said.
In 2013, Cheniere reported revenue of $267 million and a loss of $507 million.
In 2012, the company raised $1.5 billion from private equity firm Blackstone.
“By comparison, Exxon Mobil Corp., the largest U.S. energy company with a market capitalization 35 times as large as Cheniere, paid its top five executives combined compensation valued at $76 million last year, including $28 million to its CEO,” the Wall Street Journal said.
Karim Souki, the CEO’s brother, collects about $40,000 a month for consulting services he provides to Cheniere, the report said.
His 2013 annual bonus was $600,000.
“Tarek Souki, the CEO’s son, is employed as a vice president by a Cheniere subsidiary and based in London, where he receives a car and living allowance. His base salary, paid in British pounds, was raised 3% to the equivalent of about $300,000,” the WSJ said.
Since 2012, CEO Souki has sold Cheniere shares worth $55 million.
He still owns almost 3% of the company’s shares.
