Vitol Group doubled the amount its staff earned last year as it notched up record profit of $15.1 billion thanks to the wild swings in energy markets caused by Russia’s invasion of Ukraine.
The trading house paid an average of just over $785,000 each in salary and bonuses to its 3,311 employees, compared with the previous year’s average of $394,000, according to the company’s audited annual accounts seen by Bloomberg News.
That’s before taking into account the shareholder payouts to the roughly 450 top executives and traders who also own the company, and received $2.5 billion in 2022 and another $2.5 billion in the first half of 2023, according to the accounts.
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