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Ken Lewis Net Worth: What the Public Records Actually Show

No reliable current figure for former Bank of America CEO Ken Lewis’s net worth is established. Public records show historical compensation and selected retirement-related estimates, not a full accounting of his wealth.
From TheFinanceBase Team2 min to read
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No reliable, current public figure for Ken Lewis’s net worth has been established. Bank of America filings disclose his compensation in specific years, and 2009 reporting estimated selected retirement-related benefits and stock. None of those figures is a complete accounting of his assets and debts.

Is Ken Lewis’s net worth publicly known?

Not from the available public records. Net worth is assets minus liabilities at a particular point in time. The sources cited here do not provide a current balance sheet for Kenneth D. Lewis, the former Bank of America chairman, president, and CEO. They do not establish his other assets, liabilities, taxes, or investment performance since leaving the bank.

Celebrity Net Worth currently publishes an estimate of $75 million, but its calculation and underlying current financial evidence are not transparently established. Treat that as an unverified third-party estimate, not a confirmed figure: Celebrity Net Worth’s Ken Lewis estimate.

What did Bank of America report as his compensation?

Bank of America’s 2010 proxy statement reported these annual total compensation figures for Lewis. They are compensation totals for the specified years, not measures of his net worth.

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Year Reported total compensation
2007 $23,646,455
2008 $9,857,723
2009 $4,209,666

Source: Bank of America 2010 proxy statement. The bank’s 2009 proxy reported a different 2008 total—$9,959,076—under that filing’s presentation. The two filings therefore should not be silently combined; the table above consistently uses the 2010 proxy’s three-year sequence. Bank of America 2009 proxy statement.

What was estimated when Lewis retired?

Bank of America said Lewis, who became CEO and president in April 2001, would retire as CEO and director at the end of 2009. The company’s 2009 announcement establishes the timing of his departure, not his wealth.

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A contemporaneous Los Angeles Times report estimated $68.8 million in selected pension, deferred-compensation, and stock items around his departure. The estimate included a $53.2 million lump-sum pension, $10.6 million in deferred compensation, and roughly $5 million in restricted stock valued at the then-cited share price. These were historical estimates of particular items in 2009—not a calculation of his total assets, liabilities, or present net worth. Los Angeles Times report on Lewis’s departure benefits.

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Does the 2014 settlement reveal his wealth?

No. ProPublica reported that Lewis agreed to a $10 million settlement payment provided by Bank of America and a temporary bar from serving as a public-company executive or director. That is legal context, not evidence of his personal net worth. ProPublica’s 2014 settlement report.

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