David Solomon, the CEO of Goldman Sachs, has chosen to step away from his DJ career, announcing he will no longer make public appearances as DJ D-Sol, due to mounting criticism.
End of DJing era
Solomon, who had embraced the role of a disk jockey under the pseudonym DJ D-Sol in recent years, has decided to scale back his hobby after facing a barrage of criticism from various quarters. The decision ended his dual life as a high-powered banker and a DJ, which had garnered attention and controversy.
High-profile DJ gigs
One of his high-profile DJ appearances took place last year at Lollapalooza, the renowned four-day music festival in Chicago. Solomon had marked a significant presence by sharing the stage with musical legends like Metallica, Dua Lipa, and Green Day. At the time, a post on his personal Instagram account captured his excitement, with a caption that read: “Lolla was full of special moments, but this was the best,” referring to his own performance of the song “Learn To Love Me.”
Backlash and criticism
Critics of Solomon’s dual role had argued that it posed a distraction to his primary role as the leader of one of Wall Street's most prestigious financial institutions. The backlash extended even to Goldman Sachs' board of directors, with some expressing discomfort regarding Solomon's 2019 appearance at Tomorrowland, a Belgian music festival known for its association with drug-taking.
Solomon was also compelled to issue an apology after participating in a charity concert in the Hamptons, New York, with The Chainsmokers, during the pandemic's peak.
In response to the news, a spokesperson for Goldman Sachs stated: “This is not news. David hasn’t publicly DJed an event in well over a year, which we have confirmed multiple times in the past. Music was not a distraction from David’s work. The media attention became a distraction.”
Solomon was famously referred to as DJ D-Sol during a cameo appearance on the US TV show Billions. However, he later reverted to performing under his real name, David Solomon.
Challenges for David Solomon and Goldman Sachs
Solomon has faced a challenging period in recent months, marked by high-profile resignations within Goldman Sachs and critical media reports questioning his leadership of the bank. The institution has seen declining profits for over a year, primarily due to an unfortunate bet on consumer lending that resulted in substantial losses. Additionally, Goldman's share price has lagged behind that of its competitors since Solomon assumed the CEO role in 2018.
What lies ahead for Goldman Sachs
As the banking giant continues to face these challenges, Goldman Sachs is set to report its third-quarter results later today. It remains to be seen how the company will navigate the complex financial landscape and regain its footing under Solomon's leadership.