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Suffice to say that they do not suffer.
In fact, if you thought that the CEO's salary was already extravagant, you have not seen anything yet.
According to the Times, the median of the top 200 executives received a total compensation of $ 18.6 million in 2018, up 6.3% from the previous year, about twice as much as the previous year. Average increase perceived during this "booming economy". Interestingly, economists and the Trump government have described as "robust" the 3.2% increase in regular wages last year.
The pay rise of big bosses has been attributed to increases in profits for most of their businesses and, of course, to the tax cuts granted by President Donald Trump to the wealthy. In fact, the CEO's compensation seems to be rising anyway.
Tesla chief Elon Musk is leading the pack this year. The flaming musk has decided to take no pay in 2017 to reflect the problems faced by his company to get cars on the market. Well, his advice more than made up for that self-sacrifice by giving Musk a salary package of $ 2.3 billion in 2018. That's right, billions with a "b."
And Tesla is still fighting.
Speaking of difficulties, Dara Khosrowshahi, CEO of Uber, received $ 45.3 million in 2018, but as Uber was not a public company at the time, it is not among the 200 first. Now that it has become public, we learn that the company lost $ 1 billion in the first quarter. Maybe an increase is in order? For the CEO perhaps, but not for all drivers of "independent contractors".
I had used to think that professional athletes are paid too much – $ 25 million a year to start a baseball?
But then I realized that you had to produce before you got this contract.
Dave Zweifel is Emeritus Editor of The Capital Times. [email protected], 608-252-6410 and on Twitter @DaveZweifel.
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