Why there’s renewed interest in David Solomon’s DJ hobby on Wall Street

Goldman Sachs CEO’s DJ Aspirations Under Scrutiny

Recently, there’s been some talk about whether David Solomon, the CEO of Goldman Sachs, might want to return to his DJing roots. Wall Street is keen to minimize this chatter.

A few years ago, Solomon grabbed headlines for his side gig as DJ D-Sol, mixing electronic dance music at upscale parties in the Hamptons. At 64, he has been with Goldman since 1999 and took the CEO role in 2018, all while balancing his musical pursuits.

However, in 2023, he chose to step back from DJing, citing that the attention on his hobby had become a “distraction,” especially during the COVID-19 lockdown. This decision stirred some concern among fellow bankers and a few members of the company’s already-stretched board.

Interestingly, Solomon also penned an editorial for The New York Times discussing artificial intelligence. He claimed that AI was generating more jobs than it was destroying. A bit of a controversial take, perhaps? He mentioned that while there may be challenges ahead, tech has a history of driving economic growth.

As I read through the editorial, I couldn’t help but notice that Solomon’s bio notes him as both the owner of Goldman Sachs and an electronic dance music producer. Quite the dual identity!

Curiosity led me to contact Goldman’s public relations team, hoping for some insight into whether Solomon might return to the DJ booth. A representative assured me that nothing had changed regarding his break from DJing, noting Solomon didn’t even request a DJ mention in his biography.

Tony Flatt, Goldman’s communications head, clarified that the Times did not consult him about Solomon’s biography before it was published, which raised some eyebrows.

It’s been three years since Solomon last made music, and while he isn’t performing at public events anymore, he still makes private appearances. His last update on his DJ Instagram account was from November 2022.

Honestly, it’s baffling why Solomon’s weekend activities stirred such controversy in a major investment bank. I mean, who was really being harmed? Yet, the ongoing negative buzz seemed to make some in Wall Street question if he’d hold onto his CEO position.

Since Solomon officially stepped away from DJing in October 2023, Goldman’s stock has surged nearly 250%, significantly outpacing JPMorgan’s performance and even the broader market.

Shareholders at Goldman likely have a lot to celebrate. The company’s stock has risen over 60% in the past year, while JPMorgan’s shares climbed a mere 15%, and the S&P gained about 26%.