In United States of America, the pay packages of leading Chief Executive Officers faced a sharp decline 2022, designated as the first sink in a decade.
According to the Wall Street Journal, upon evaluation of revenues and losses in stock awards, almost two-thirds CEOs of Standard & Poor’s 500 index received the diminished overall compensation.
Peter Kern
The stock awards of Expedia’s CEO, Peter Kern faced the compensation decline of $237 million on $295 million worth equity awards in 2021. The awards will be granted to him until 2026.
Elon Musk
Elon Musk’s lost around $10 billion owing to decrease in Tesla’s value by $9.7 billion. The decline is attributed to a performance award given to Elon Musk for a period of 10 years in 2018.
Andy Jassy
Andy Jassy, the Amazon’s CEO lost $149 million. Andy received the equity awards worth $212 million in 2021.
Moreover, the median salaries for Standard & Poor 500 index diminished to $14.5 million as compared to $14.7 million in 2021. The cash compensation was reported to be $3.7 million.
However, some CEOs also benefitted from this new method. As per the statistics, Overall, 46 Chief Executive Officers received twice the amount originally noted.
This reduction in CEOs’ pay is highly considerable as it is the first time in ten years that the compensation for top executives at leading US companies didn’t reach a new record, as stated by the Wall Street Journal.
