Elon Musk – the richest man in the world – was the highest paid CEO in 2021, according to the Fortune 500. exercised certain Tesla stock options granted in a giant multi-year “moonshot” of 2018. According to the Fortune 500, it was by far the biggest salary a CEO had ever received.
In Fortune’s list of highly paid CEOs, Musk, who runs Tesla and SpaceX and may soon own Twitter, is at the top. But the others also belong to the technological and biotechnological industries. Among these leaders are Tim Cook, who is the CEO of Apple, Satya Nadella, who is the head of Microsoft, and Reed Hastings, who is the boss of Netflix.
Fortune revealed that Cook received $770.5 million in 2021 alone, which included part of a 10-year equity award worth $1.7 billion. He got the second position on the list. During his tenure, Apple’s market value has increased by $2.2 trillion, so his salary is somehow justified. Apple ranks third in the Fortune 500.
While the runner-up was cornered by Cook, Nvidia’s Jensen Huang received $561 million in compensation in 2021. A spokesperson told Fortune 500 that Huang “made approximately $507 million from expiring options that had granted in 2011 and 2012, reflecting the approximately 60-fold increase. in the company’s share price on the [past] decade.”
In fourth place is Netflix’s Reed Hastings, who recently announced several new measures to generate profits for the company which is plagued with issues, such as account sharing and disappointing content compared to rivals. . Hastings earned $453.5 million last year, according to the Fortune 500. However, a Netflix spokesperson disputed the report. “According to our proxy statement, his compensation in 2021 was $40.8 million, with $650,000 in cash and $39.7 million in stock options,” the spokesperson said.
Microsoft’s Satya Nadella landed 7th place on the list with compensation worth $309.4 million last year. He was also voted the “most underrated” CEO of 2021, earning him the title for six consecutive years. Nadella has led Microsoft since 2017.
A report by the Economic Policy Institute said that an average CEO of a “large company” earned 351 times the salary of an average worker on a realized basis in 2020. The Fortune 500 assessed the salaries of 280 CEOs from Fortune 500, who “earned a median salary”. total compensation of $15.9 million,” an increase of 30% over the previous year.