Business

Goldman Sachs CEO David Solomon sorry for DJing Hamptons party during lockdown

Goldman Sachs CEO David Solomon apologized to the Wall Street bank’s board for DJing a party in the Hamptons during the height of coronavirus pandemic lockdowns — a violation of social distancing guidelines, according to a report.

Solomon, who moonlights as DJ D-Sol, apologized to Goldman’s board of directors over the incident, the Financial Times reported.

In the summer of 2020, Solomon opened for the band The Chainsmokers at a charity benefit in the Hamptons.

Revelers who attended the bash flouted social distancing rules that required people to stay at least six feet apart in an effort to mitigate the spread of the coronavirus.

The party in Southampton ignited outrage and prompted then-New York Gov. Andrew Cuomo to announce an investigation.

Goldman Sachs CEO David Solomon moonlights as DJ D-Sol.
Goldman Sachs CEO David Solomon moonlights as DJ D-Sol. Getty Images for Casamigos

When he’s not leading one of the world’s largest investment banks, Solomon performs as a DJ in music festivals, including last month’s four-day Lollapalooza extravaganza in Chicago.

Solomon has gained a reputation as a flamboyant Wall Street executive who likes to rub elbows with the rich and famous.

He recently appeared on the hit Showtime series “Billions” and he also made a cameo in a Netflix documentary about pop star Jennifer Lopez.

But Solomon’s leadership at the bank has come under scrutiny, particularly as it pertains to his so-far fruitless efforts to diversify income streams.

Under Solomon, Goldman has tried its hand at consumer banking, asset management and transaction services in order to compete with the likes of Morgan Stanley.

According to FT, Goldman has yet to turn a profit with its online banking division, Marcus, which was started up six years ago.

The company is reportedly re-evaluating spending plans related to Marcus.

Solomon most recently played a gig at the Lollapalooza music festival in Chicago last month.
Solomon most recently played a gig at the Lollapalooza music festival in Chicago last month. ["Getty Images for Safe & Sound"

In the last five years, Goldman’s share price has lagged behind Morgan Stanley. It is also neck-and-neck with another Wall Street rival JPMorgan Chase.

But much like the helm of predecessor Lloyd Blankfein, Goldman’s bread-and-butter remains trading and investment banking, according to FT.

Shortly after Solomon took over as CEO in 2018, he surprised Goldman officials by asking for a private plane, according to FT.