Doug Parker Net Worth – Currently serving as Chairman and Chief Executive Officer of American Airlines Group, Inc., the primary subsidiary company of American Airlines since 2013, Doug Parker is a successful businessman from the United States.
He began his career with Northwest Airlines in 1991, and in 1995, he was appointed Chief Financial Officer of America West Airlines. Previously, he had positions in finance, sales, and operations before being appointed Chairman and CEO in 2001, just ten days before the terrorist atrocities on September 11th.
He was the first person to receive a federal loan guarantee following the September 11th attacks, which helped to save the airline from going bankrupt a second time. When American West Airlines and US Airways combined, he continued in his role as CEO.
Doug Parker was appointed CEO of the world’s largest airline in 2013, following the merger of American Airlines parent companies AMR Corporation and US Airways, which took place in 2013.
The salary and overall pay that Doug receives in a regular year is approximately $19 million. He also holds over 1.8 million shares of AA, which are currently valued at approximately $60 million. Parker has received numerous honours, including the following:
Entrepreneur of the Year for the Southwest region by Ernst & Young in 2015.
On May 10, 2013, the Owen Graduate School of Management at Vanderbilt University delivered the commencement address.
In 2017, he was awarded the Tony Jannus Award for remarkable achievement in the commercial air transportation industry.
Parker allegedly got $11,571,714 in total salary in 2019, which is comparable to the compensation received by other airline CEOs in the same year. According to Forbes, Oscar Munoz, the previous CEO of United Airlines, earned around $12,643,005, while Delta Airlines CEO Ed Bastian made $17,291,985 during his tenure as CEO.
Parker, in addition to being well-known for his big compensation, made news in 2015 when he demanded that the board of directors of American Airlines compensate him with restricted stock, according to USA Today. It goes without saying that a percentage of “its value [would be] connected to the airline’s success.”
During that period, Parker was one of only four CEOs who accepted shares in exchange for a wage, which resulted in him receiving a salary of $1 or less each month. Those CEOs were identified by USA Today, with two of them being Mark Zuckerberg and Larry Page.
Parker has had a number of high-profile posts over the previous two decades, and he has earned a respectable salary each year during that time. As reported by Wallmine, United Airlines CEO Doug Parker has a net worth of $71.4 million, according to estimates.
Besides his $11.5 million income, Parker apparently holds more than 50,000 units of American Airlines Inc. stock, which is worth around $39,475,333, in addition to his $11.5 million compensation.
Parker is said to have sold shares of AAL stock in the last 16 years, netting a total of around $20,374,918 in profit.
Doug Parker Net Worth
$50M