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Jay Farner, set to retire as CEO of Rocket Companies on June 1, received total compensation of $9.469 million last year, up from $1.603 million in 2021, according to a regulatory filing. So reports The Detroit News.
The almost five-fold increase in Farner’s pay came as Rocket’s annual profit plummeted 88%.
Separately, as The Detroit News also reports, United Wholesale Mortgage CEO Mat Ishbia saw his total compensation fall 10% to $6.99 million as profits tumbled 44%.