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☆ The typical CEO makes nearly 200 times more than their workers
  + stars: | 2024-06-05 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com   time to read: +3 min
Typical compensation packages for chief executives who run companies in the S&P 500 rose nearly 13% last year, the AP reports . Median CEO pay hit $16.3 million in 2023, or nearly 200 times the typical worker's wages for the year, according to data analyzed for The Associated Press by Equilar . In 2022, CEOs made roughly 185 times their typical worker; with the jump in 2023 numbers, CEOs now make roughly 196 times their employees. CEO pay is generally decided on by shareholders, who in the last four years have overwhelmingly voted in support of executive compensation plans, according to Equilar data. CEO pay has increased by 1,209% since 1978, compared with an 15% bump for the typical worker over this time period, according to the left-leaning Economic Policy Institute.
Persons: haven't, Lawrence Mishel, Amit Batish, aren't, Batish, Sarah Anderson, Anderson Organizations: Associated Press, Equilar, Federal Trade Commission, CNBC, Institute for Policy Studies, AP Locations: Equilar
☆ Elon Musk trial opens to decide fate of his $56 billion Tesla pay
  + stars: | 2022-11-14 | by ( Tom Hals | Thomson Reuters | Award-Winning Reporter With More Than Two Decades Of Experience In International News | ) www.reuters.com   time to read: +3 min
They argued the pay package did what it aimed to do -- ensure the entrepreneur successfully guided Tesla through a critical period which helped drive the stock 10-fold higher. The Tesla shareholder lawsuit argues that the pay package should have required Musk to work full time at Tesla. In all, 19 witnesses are scheduled, including directors and executives from 2018, compensation experts and advisors who helped craft the pay package. Tesla has hit 11 of the 12 targets as its value ballooned briefly to more than $1 trillion from $50 billion, according to court papers. A decision will likely take around three months after the trial and could be appealed to the Delaware Supreme Court.
☆ As Musk focuses on Twitter, his $56 billion Tesla pay goes to trial
  + stars: | 2022-11-07 | by ( Tom Hals Hyunjoo Jin | Tom Hals | Hyunjoo Jin | ) www.reuters.com   time to read: +5 min
[1/2] SpaceX Chief Engineer Elon Musk gestures during a joint news conference with T-Mobile CEO Mike Sievert at the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022. REUTERS/Adrees LatifCompanies Twitter Inc FollowTesla Inc FollowWILMINGTON, Del., Nov 7 (Reuters) - As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. The disputed pay package allows Musk to buy 1% of Tesla's stock at a deep discount each time escalating performance and financial targets are met; otherwise Musk gets nothing. Does Elon Musk work for the board or does the board work for Elon Musk," said Minor Myers, a professor at UConn School of Law. Myers said if the pay package is rescinded, the board could simply create a new one and do so with McCormick's ruling to guide them.
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