Hess CEO Buys $2 Million of Goldman Stock
One of Goldman Sachs Group’s newest directors just bought a large block of shares of the bank on the open market.
Goldman stock has dropped 11% this year, compared with a 10% drop in the S&P 500. The bank’s shares had been down less than 2% in 2025 until President Donald Trump unveiled a raft of tariffs on April 2, sending Goldman shares and the market in general lower.
John Hess, the CEO of Hess Corp., paid $2 million on April 15 for 3,904 Goldman shares, an average price of $511.68 each, according to a form he filed with the Securities and Exchange Commission. It is his first insider stock buy since joining Goldman’s board in June 2024. Those shares represent his Goldman holdings in a personal account.
Hess Corp. didn’t immediately respond to a request to make its CEO available for comment.
Hess wasn’t required to buy the stock. Goldman’s latest corporate governance guidelines state “that each director must maintain beneficial ownership of at least 5,000 shares of the Company’s common stock and/or fully vested restricted stock units at all times during his or her tenure on the Board.” The guidelines note that new nonemployee directors “have up to seven years of service on the Board to meet this ownership requirement.” Goldman directors receive an annual retainer of $100,000 in RSUs or cash, and an annual grant of $350,000 in RSUs, according to its latest proxy.
Goldman has 14 directors on its board. Two joined after Hess.