Astroworld Organizer's CEO Could Still Get A Massive Payout Even If He Quits Or Is Fired
Will he face reprecussions?
Live Nation / Christian Bertrand / Shutterstock The CEO of Live Nation, Michael Rapino, could receive a lucrative pay-out if the fall-out from the disastrous events of Astroworld festival cost him his job.
Live Nation entertainment served as one of the organizer's for Travis Scott’s Astroworld music festival that resulted in the death of eight people and hundreds more being injured.
Chief Executive Michael Rapino’s exit package is worth $168 million, including accelerated stock option awards, medical benefits, and more than $40 million in severance.
Rapino can still receive the full balance of his exit package if he quits for “good reason” or was fired “without cause.”
There is currently no indication on whether or not Rapino will quit or be forced out as investigations into the deadly music festival are still underway.
Who Is Michael Rapino?
Rapino has led Live Nation Entertainment as the Chief Executive Officer and President since 2005.
Rapino is originally from Thunder Bay, Ontario, and completed his education at Lakehead University in Canada.
He spent ten years at Labatt's Breweries of Canada, working in various marketing and entertainment roles.
Before becoming CEO of Live Nation, Rapino led several different divisions, including European Music and Live Nation International Music.
Rapino has addressed the Astroworld deaths.
Rapino posted a statement to his Twitter account in which he acknowledged the lives lost at Astroworld.
“Many families are dealing with the unimaginable right now and my heart goes out to them and the entire Astroworld community,” he wrote. “We are dedicated to doing everything we can to get the families and fans the answers and support they deserve.”
More than a dozen lawsuits have been filed against the organizers of the music festival, including Live Nation and Travis Scott.
Scott has been criticized for continuing to perform for almost 40 minutes after the mayhem in the crowd began.
There were over 50,000 people who attended the first day of Astroworld, and during Scott’s set, the crowd began to surge forward, causing people to pass out and get trampled over.
The rapper was also reported to have attended an after-party at Dave & Buster’s once the show had ended, and it was there that he began to hear of the casualties and immediately left.
Since the tragedy, more details have begun to surface around not only Scott but Live Nation as well.
Live Nation has come under fire after Astroworld.
Live Nation Entertainment, and it’s daughter company, Live Nation Worldwide, have reportedly been connected to about 200 deaths and at least 750 injuries since 2006, which is almost as long as Rapino has served as the company’s CEO.
The Live Nation-linked incidents include deaths and injuries that were committed by intruders, including the suicide bomber who attacked Ariana Grande’s Manchester, England concert in 2017, and the mass shooting at the Route 91 Harvest country music festival in Las Vegas that same year.
For Travis Scott, he is facing backlash for being known to elicit unruly crowds at multiple of his shows, as well as watching an emergency vehicle in the crowd at his Astroworld set without bothering to stop the show.
Scott has since announced that he will pay all funeral expenses for the victims, as well as launching a partnership with BetterHelp to offer attendees one month free of online therapy, although that move is being widely criticized.
Nia Tipton is a writer living in Brooklyn. She covers pop culture, social justice issues, and trending topics. Follow her on Instagram.