US bosses’ pay is increasing at the fastest rate for at least 14 years, according to new figures which critics say illustrate how ballooning reward packages such as Elon Musk’s risk exacerbating social inequality.
So far in 2024, median chief executive pay at S&P 500 companies has risen by 12 per cent, according to ISS Corporate, part of proxy adviser Institutional Shareholder Services. That compares with a 4.1 per cent year-on-year increase in US wage growth, according to official figures.
Musk this week secured an emphatic victory in a shareholder vote on his $56bn package of stock options — the largest in US history.
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