HomeFinancial MarketsSalesforce is Paying Matthew McConaughey $10 Million Annually Despite Cost-Cutting Efforts

Salesforce is Paying Matthew McConaughey $10 Million Annually Despite Cost-Cutting Efforts

San Francisco-based cloud giant Salesforce jumped on the wave of layoffs in the tech sector back in January and said goodbye to around 8,000 workers. While this was considered a cost-cutting effort at the time, it appears that the company isn’t shy about spending the money for other purposes.

A recent report by Wall Street Journal revealed that despite layoffs, Salesforce kept its most famous employee in Academy Award-winning actor Matthew McConaughey. According to WSJ, McConaughey serves as a creative adviser and TV pitchman for the company and is getting $10 million annually for the work he does.

McConaughey, who appeared in a Super Bowl ad for Salesforce during LVI, reportedly receives his compensation in cash and equity. He is also a private friend of Salesforce CEO Marc Benioff, although the latter insists the actor’s involvement with the company is unrelated to that.

Despite the controversy, Salesforce is coming off a successful quarter. According to Wednesday’s Q4 results, the company had $8.38 billion in revenue compared to the $8 billion expected while also beating Wall Street’s adjusted earnings per share estimates with $1.68 versus the $1.37 expected.

The promising results have helped Salesforce stock to make a significant jump on Wednesday. After closing at $167.35 per share, the stock surged by 15.5% in after-hours trading.

Warren Buffett to Step Down as Berkshire Hathaway CEO at the End of 2025

Warren Buffett is ready to step down as the CEO of multinational conglomerate Berkshire Hathaway. Buffet announced his decision while speaking at the company’s...

Microsoft Stock Soars on Better-Than-Expected Q3 Earnings

Microsoft reported better-than-expected third-quarter earnings on Wednesday, which caused the company's stock to soar by more than 8% in after-hours trading. Microsoft reported $3.46 in...

Gold Continues to Drop From Record Highs, Dollar Ends Its Slide

After reaching fresh record highs at the beginning of last week, gold has been in the midst of a continuous drop. Meanwhile, the U.S....