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- Carlos Ghosn, the former Nissan chairman and Renault CEO, paid one of the largest bail fees in the history of Japan — 1 billion yen, or $8.9 million — to leave jail on March 6 after 108 days.
- Back in November, the former CEO was accused of misreporting his salary and compensation.
- Ghosn, 64, amassed a $120 million net worth while he was the head-ranking official at the Nissan-Renault-Mitsubishi Motors automotive alliance over the past two decades.
Carlos Ghosn’s rise as chairman of the Renault-Nissan-Mitsubishi Alliance took years. His fall? Quicker, and greater, than any other industry executive with his caliber.
For a long time, Ghosn was known as the man who was able to usher in a new era of profitability and relevance to the automakers he helmed. Yet, to Japanese persecutors, he hid his earnings from regulators for years and used company funds to further decorate his lavish lifestyle.
On November 19, 2018, he was arrested, and on Wednesday, he was released after over three months in a Japanese jail. He has since retreated with his restricted freedom to a pre-approved residence to await a trial that remains months away.
Prosecutors in Japan have alleged that Ghosn earned a salary of about 10 billion yen, or $88.7 million, from 2011 to 2015 but reported only half of that. Ghosn, 64, could face up to 10 years in prison and a fine of up to 10 million yen if found to have committed any wrongdoing.
Ghosn started at Nissan in 1999, when "The Alliance" was formed — where Renault and Nissan each had a stake in the other. In 2016, Mitsubishi joined. The three act as separate entities, while also identifying as a global grouping.
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Ghosn was known for his cost-cutting methods — closing factories and cutting jobs while increasing profits and output. Nissan quickly surpassed Honda as the No. 2 automaker in Japan under Ghosn’s leadership …
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… for which he was greatly compensated. According to BBC’s review of company records, Ghosn made over $17 million in 2017 in salary, share options and bonuses. As company success grew, so did Ghosn’s net worth. As of 2018, his net worth was around $120 million.
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