us dollar bills blow near the andalusian capital of seville in this photo illustration taken on november 16 2014 reutersmarcelo del pozo new york aug 24 reuters  the billionaire daniel och on wednesday sued sculptor capital management inc accusing the asset manager he helped found of letting its chief executive officer wield his power over its board to extract everescalating pay despite subpar performance in a complaint filed in delaware chancery court och said james levin was paid 1458 million in 2021 more than most other ceos including apples aaplo tim cook goldman sachs david solomon and jpmorgan chases jpmn jamie dimon och said sculptors annual revenue of 626 million cannot possibly justify making his protege the countrys 14th highestpaid ceo while the firms stock price lags many peers and its funds suffer from less than mediocre performance according to the complaint by och and four of sculptors other original and largest shareholders levins pay was 177 times the median of sculptors peers as measured by proxy advisory firm institutional shareholder services the lawsuit seeks books and records concerning levins pay to assess whether there were breaches of fiduciary duty related to mismanagement and waste and whether sculptors board was truly independent according to an april regulatory filing levin and och are among sculptors largest shareholders and controlled a respective 202 and 144 of its voting power sculptor said levin deserved pay that is more competitive with that of privately held alternative asset managers sculptor and an outside spokesman were not immediately available for comment after market hours the lawsuit was reported earlier by the financial times och is worth 39 billion according to forbes magazine once known as ochziff capital management sculptor is one of only a handful of publicly traded hedge fund companies overseeing about 368 billion of assets as of july 1 its stock price has fallen 56 this year leaving it with a market value of about 552 million according to refinitiv levin who is known as jimmy joined sculptor in 2006 and became ceo last year he is also the new yorkbased firms chief investment officer one sculptor director morgan rutman resigned early this year in protest over levins pay read more sculptor changed its name in 2019 three years after ochziff reached a 412 million settlement of us probes into alleged bribery to win business in five african countries the case is och et al v sculptor capital management inc delaware chancery court no 20220748 reporting by jonathan stempel in new york editing by leslie adler