This article describes how Tesla CEO Elon Musk's personal pay negotiations have served as a trend for global CEO pay.
What influence has Tesla CEO Elon Musk had on other CEOs, and to what detriment has astronomical CEO compensation packages had on workers and consumers?All 10 of last year’s highest-paid executives had compensation over $100 million, a first. Their average compensation was $330 million, the highest ever.
It is not a coincidence that the others who top the world’s richest people lists are or were recently also CEOs. Jeff Bezos , Bill Gates , and Larry Page follow immediately behind Musk onThe largest gap between chief executive and workers in the survey was at Amazon, where this spring a union won a battle to organize a warehouse for the first time.
US corporations spent record sums on stock buybacks in 2021. This legal form of stock manipulation artificially inflates the value of a company’s shares and the value of executives’ stock-based pay. Of the 106 firms where median worker pay did not keep pace with inflation in 2021, some 67 of these firms — two-thirds of them — spent a total of $43.7 billion buying back their own shares.
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