- CBS Corporation CEO and Chairman Leslie Moonves left the company in September after reports detailing sexual harassment and assault allegations from six women against the media executive.
- CBS announced Monday that Moonves would not receive any of his $120 million severance, the Wall Street Journal reported.
- An investigation found that Moonves violated company policies and intentionally refused to cooperate with the investigation.
- Moonves is worth an estimated $700 million and was one of the highest-paid CEOs in the US, according to Forbes.
Leslie Moonves, former CEO and Chairman of CBS Corporation who left the company in September after a wave of sexual assault and harassment allegations, will not receive any of his $120 million severance, the Wall Street Journal reported Monday.
Investigators concluded that CBS had grounds to terminate Mr. Moonves for violating company policies and intentionally not cooperating with the investigation, the CBS board of directors said in a statement obtained by the Journal.
Lawyers for the network previously said Moonves should not receive his severance because he “destroyed evidence and misled investigators” as he faced multiple sexual misconduct allegations, according to the New York Times.
The departure of Moonves from the company came after a report by The New Yorker detailing accusations against the media executive from six women. This followed CBS hiring multiple law firms to launch an investigation against Moonves in August, after six other women accused Moonves of sexual misconduct or harassment. Moonves has denied the allegations against him.
Moonves was one of the highest-paid CEOs in the US, thanks to a compensation package of cash, restricted shares and stock options worth $57 million in 2014, Forbes reported. He's worth an estimated $700 million.
CNBC had previously reported that the board was considering giving him a $100 million exit package, but CBS said in a statement that any severance benefits would be pending the results of an independent investigation.
Here's how Moonves made his $700 fortune.
Moonves worked as an actor in the 1970s, with small roles in TV series including "Gemini Man" in 1976 and "The Six Million Dollar Man" in 1977.
Source: IMDb
He went on to take over Lorimar Television in 1989, which then merged with Warner Bros. Television.
Source: CNN Money
In the early 1990s, Moonves developed hit TV shows including "ER" and "Friends" as president of Warner Bros.
Source: Money
He moved to CBS in 1995 as president of CBS Entertainment, where he helped bring in new talent including Bill Cosby.
Source: Money
He was promoted to CEO of CBS Television in 1998 and became Chairman and CEO in 2006.
Source: Money
During his time at the network, Moonves launched popular shows such as "Survivor" and "CSI: Crime Scene Investigation."
Source: CNN Money
CBS also grew its success in comedy under Moonves, with "Everybody Loves Raymond," "Two and a Half Men," and "The Big Bang Theory."
Source: CNN Money
Forbes classified him as the 15th richest Hollywood power broker in its 2015 ranking.
Source: Forbes
In 2016, Moonves made $69.6 million, and he's made at least $50 million each year since 2010, according to The Wrap.
Source: The Wrap
Moonves made $69.3 million in 2017, making him the highest-paid Hollywood executive.
Source: The Wrap
That's $20 million more than the earnings of Jeff Bewkes, the CEO of Time Warner, who made $49 million in 2017.
Source: The Wrap
Moonves lives with his wife in a 10,000 square foot Beverly Hills mansion he bought for $14 million in 2006.
Source: Money
The home includes a $500,000 personal screening room paid for by CBS, according to Crain's New York Business.
Source: Crain's New York Business
Moonves also bought a $28 million Malibu beach home from Microsoft co-founder Paul Allen in 2014.
Source: Business Insider