Salary for New Vail Resorts CEO Revealed, Utah Billionaire Responds

Co-founder of the tech company Cloudflare, multi-billionaire, and Park City, Utah, resident Matthew Prince wants to buy Park City Mountain and said that as the resort’s owner, he wouldn’t take any pay.

On September 29, Vail Resorts, the current owners of Park City Mountain, shared a U.S. Securities and Exchange Commission report detailing the compensation package of its new CEO, Rob Katz. According to the report, Katz is earning a $1 million annual base salary and is eligible for a $1 million annual bonus. He’s also receiving $80,000 each year to spend at Vail Resorts’ mountains, KPCW reported.

Prince, in response to the KPCW article highlighting Katz’s compensation, wrote on X, “When I own Park City Mountain I’ll (obviously) not take any pay or dividend but, more importantly, create a profit sharing plan where 100% of annual profit goes back to employees and infrastructure upgrades.”

Vail Resorts, however, has said it isn’t interested in selling Park City Mountain. 

“Rob Katz made it very clear that Park City Mountain is not for sale in his remarks during our fiscal 2025 third quarter results in June,” John Kanaly, senior manager of communications for Park City Mountain, said in August, according to the Park Record. “That remains true today and will continue to be the case.” 

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Prince appears undeterred. Below his initial X post, in the replies section, he said he talked “with the person who put the Killington deal together,” referring to the sale in 2024 that led to independent ownership of Killington ski resort, Vermont. That conversation was “Inspiring and in part what got me to think I should do this,” Prince wrote.

In another reply, Prince, who has an estimated net worth of $6.8 billion according toForbes, doubled down on not being financially motivated in pursuing ownership of Park City Mountain. “I will take $0 out in any form. I don’t need more money,” he wrote.

Prince has previously said that if he were to become the resort’s owner, he would focus on making it a “world-class” mountain and serving the local Park City community. Prince has a personal connection to Park City Mountain, beyond living and growing up in Park City; he used to work at the resort as a ski instructor. 

Prince wouldn’t be the first tech mogul who made their name outside of skiing to get involved in the snowsports business. 

Reed Hastings, the co-founder of Netflix, became the majority owner of Powder Mountain, Utah, in 2023 after a $100 million investment. Under Hastings’ tenure, the resort has adopted a unique—and sometimes controversial—private-public model, with a portion of its slopes reserved for homeowners. 

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