Ruslan Kogan Will Either Get Paid $50k/Year for Next 5 Years or Make at Least $50m+

neil on 21/09/2026 - 18:20

I thought this was a very creative pay deal. Saw that Kogan.com is calling for a Notice of Extraordinary General Meeting to

consider proposed new remuneration arrangements for Kogan.com’s Founder and CEO, Mr Ruslan Kogan, and CFO and COO, Mr David Shafer.

What's fascinating is this huge bet that Ruslan is betting on.

Basically, if Kogan's share price hasn't risen by 100% in 5 years to at least $7.44 (currently $3.72), then Ruslan will only earn $50,000 per year (min. wage) for the 5 years. All of that will be donated to charity, which is great.

But, if the share price does hit $7.44 or more, he'll earn at least $50.1m (or whatever the price of the shares are).

Looking at the last 5 years in share price:

  • Sept 19, 2025 $3.65
  • Sept 20, 2024 $5
  • Sept 20, 2023 $5.12
  • Sept 20, 2022 $3.46
  • Sept 20, 2021 $9.50

Optimistic? Would you as a shareholder approve this pay deal?

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  • Clear on 21/09/2026 - 18:41

    The quality of Kogan's selections and deals have gone downhill a lot. It's why you haven't seen a deal from me in ages. They used to have some very price competitive weekly deals and now nothing.

    Also remember that time when I was a Kogan rep for a brief time? They outsourced their marketing department to some agency who had no concept of influencer/affiliate marketing at all, so their phone interview was a breeze.

    I had really big plans and ideas to grow their business, but they (and Kogan) had no interest whatsoever. "Let's post <random crappy product> because it's bulky and taking up warehouse space" instead of "let's repost this highly successful, thousands of clicks deal". No wonder they ditched me in favour of another yes man rep.

    Now let's see what strategies they'll follow to gain 14.9% annual growth to reach the target.

    • 17
    • ihbh on 21/09/2026 - 19:55

      Their current business model seems to be:

      • Identify trendy, sort of useful, cheap things
      • Sell at very low 1-2 day trial price to get lots of 5 star reviews (at the dirt cheap price)
      • Sell same item for ridiculously high price to the people who don't know how to Google and are lured by the 5 star reviews
      • 3
      • Clear on 21/09/2026 - 21:15

        Identify trendy, sort of useful, cheap things

        Except they seem to be failing at that lately or they're not advertising it as much as they used to. Pushing the more expensive stuff and Kogan Mobile (where they're probably making good money).

        • 0
    • Mokr on 28/09/2026 - 15:03

      They outsourced their marketing department to some agency who had no concept of influencer/affiliate marketing at all

      They have a walled garden concept, sort of a lmct type thing going on. They dont want to get the public but just aim for those people who are in the club.

      • 0
  • bargaino on 21/09/2026 - 18:37

    Kogan peaked at $25 in covid times.
    Doubling now would be a $320 market cap gain, of which Ruslan would get 15%.
    But he already owns $50m in stock, so would be up $50m without the bonus.

    Seems crazy. Does he think he is Elon Musk?

    • 4
    • fantombloo on 21/09/2026 - 22:07

      I think he wants to be Australia's version.

      • 1
  • Wiadro on 21/09/2026 - 20:13

    kogan is so dodgy, horrible products

    • 4
  • Davo1111 on 22/09/2026 - 11:16

    My company has short term KPIs, so management are only interested in short term gains. (fixing bugs is next years problem - then they are surprised [shocked_pikachu.gif] when our clients go elsewhere)

    At least with a 5 year KPI they might actually do some investing/R&D etc

    • 2
    • weezlebub on 22/09/2026 - 16:25

      Yeah, I think it's fantastic, have bonus' tied directly into performance for the top of the corporate structure and you'll see a lot more buy in and engagement at all levels of the business - great way to have dedicated and competent people leading the companies

      • 0
  • scotty on 22/09/2026 - 14:24

    Just need another Pandemic to force people to work from home, and the stock price of ecommerce companies will shoot to the moon again! Let me call Ruslan about this idea…

    • 2
    • whyisave on 23/09/2026 - 18:35

      Just need another Pandemic to force people to work from home

      It may happen, if there is a fuel shortage, and governments force people to be indoors or stop flying, etc.

      • 0
  • Satchimo on 21/09/2026 - 18:36

    I read that as Mr David Shafter. Now I can't unsee that.

    • 1
  • Kongzi on 21/09/2026 - 18:41

    Can't remember the last time I shopped there. Only Kogan mobile has good pricing

    • 1
    • jv on 21/09/2026 - 19:08

      Can't remember the last time I shopped there.

      same…

      • 2
    • zuuutoootuuu on 21/09/2026 - 20:35

      July 2017 for me

      • 0
  • Danstar on 22/09/2026 - 08:28

    I use Kogan quite a bit, especially for work. Deliveries come quite quick (usually with 2 days) and quality is decent for most things (office desks, chairs, bought a few Kogan branded fridges)

    • 1
  • happydude on 21/09/2026 - 19:19

    It's performance rights, not cash.

    What's the risk to holders? Nothing. They either get 100% share price increase or pay the man $50k a year. I'd be voting for it.

    • 0
    • freefall101 on 21/09/2026 - 20:24

      The risk is they miss an opportunity to fire the guy who is underperforming.

      They won't anyway, he's a major shareholder and institutions (who can really influence the board) have little interest in Kogan. But he hasn't really taken the company in any good directions. Still a decent dividend share over the years though.

      • 3
    • cloudy on 22/09/2026 - 10:43

      If you don't know the risk don't invest dude.

      If you can't imagine how kogan can (profanity) you over you should probably stick to ETFs.

      • -1
  • plmko on 22/09/2026 - 00:33

    $3.60 seems to be a good share price if you consider how much of a train wreck Australian retail has become and also consumer confidence in general right.

    $7+ seems to be fairly achievable in 5 years time. Once interest rates drop and tax incentives for property/rentals pick up there will spending again to fuel furniture/household purchases which Kogan will be a beneficiary.

    • 0
  • kaybrr on 22/09/2026 - 10:51

    Wasn't he launched into space? I didn't know he was still on earth.

    • 0
  • subwoofer on 26/09/2026 - 16:47

    The minute the government dropped the GST 1K exemption, Kogan, Catch, Ebay were doomed

    • 0
  • AlienC on 23/09/2026 - 22:28

    Kogan the Bogan needs another Slogan.

    Hulk Hogan. Joe Rogan.

    • -2
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