Surging after a slight decline during the COVID-19 pandemic, as companies showered leaders with stock awards and cash bonuses, median pay for top U.S. CEOs rose 31% last year to a record $20 million, a new study found.
Chief executives receiving big pay increases included the leaders of tech giant Apple and semiconductor manufacturer Broadcom Inc,, according to the study released Monday by research firm Equilar.
It covered the 100 largest U.S. companies by revenue that filed proxy statements by March 31. The same study a year ago found median CEO pay was $15.5 million, 2% lower than in 2020.
The trends also pushed up the ratio of CEO pay to the pay of companies’ median workers to 254:1 from 238:1 a year ago, Equilar’s study said.
It cited executives like Apple CEO Tim Cook, who received $98.7 million last year, up from $14.8 million in 2020, including a major stock award.
Investors cast 64% of votes in favor of the pay at the company’s March 4 annual meeting, a low level of support.
MacDailyNews Take: Keeping up with the pace of inflation, barely.
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Reportedly, many NYC Fruit Stand Worker Party members have been seen walking around aimlessly, shouting angrily and heard saying “yeah but” repeatedly after reading this article. Their hourly wage demand has now been increased from $30/hr to $75, for fairness.
Meanwhile, back in Realville the majority of citizens struggle with the 40-year high cost of inflation, soaring prices and stagnant wages courtesy of the most economically clueless administration in generations…
High inflation and high fuel prices have nothing to with the current US administration. I live in NZ, we have the same 30 year high inflation and high fuel prices. We pay $2.60 per litre. That is $9.84 NZ and $6.67 US. This a worldwide problem caused by supply constraints due to Covid and the war in Ukraine. Just because Donald Trump blames Biden, it doesn’t make it true.
And just then, you woke up…
Republicans along with two corporate owned Democrats have blocked all attempts to reverse the income redistribution from the middle class to the rich that began with Reagan. Unchecked corporate profits based on price increases rationalized by early supply constraints is one of the main contributors to inflation. The record employment gains, increased worker wages, and huge GNP gains are all being used as excuses for gouging consumers.
delusional
Characterized by or holding false beliefs or judgments about external reality that are held despite incontrovertible evidence to the contrary, typically as a symptom of a mental condition. ‘hospitalization for schizophrenia and delusional paranoia’
Time to reread the real economic reason for inflation. Your narrative is clouding your vision, as it relates, especially to your currentinterest.
You have likely heard that about 30% of ALL US currency was created in the last two years?