Don't you think the pay structure of the CEO is unfair towards workers who work harder than CEO?
- Thread starter Claudia Love
- Start date
I love hearing about these super millionaires/billionaires. Wanna know why? See the link below.CEO pay rose a record 19% in 2021, while employees saw paltry raises
The Pandemic Made the Rich $1.7 Trillion Richer
CEO pay packages rose a record 19% in 2021
CEOs received bigger cash bonuses and stock awards as the economy rebounded.fortune.com
The Pandemic Made the Rich $1.7 Trillion Richer
While the pandemic has been hard on the vast majority of Americans, it’s been nothing but good times for the billionaire class.www.thenation.com
The Giving Pledge - Wikipedia
en.wikipedia.org
Massive amounts of money going to charity(instead of government waste).
The link is to the 99% club. It is for the 1% who give 99% away.
Cheers.
Ya its funny 2,755 billionaires and 231 made a non binding promise to give away money which they have yet to do so but get prestige for doing so. Almost as good as religion which takes all first then gives it back to you when your dead in heaven. Double funny there are far more than 2755 billionaires as illegal gangsters are removed from the list as well as state actors who fortunes remain in theory with the state.I love hearing about these super millionaires/billionaires. Wanna know why? See the link below.
The Giving Pledge - Wikipedia
Massive amounts of money going to charity(instead of government waste).
The link is to the 99% club. It is for the 1% who give 99% away.
Cheers.
Kim Jong-un is the supreme leader of North Korea who has a net worth of $5 billion . His actual worth due to his raw power is much more. There are many petty princes that fortune is tied to the country they can pillage at will but under the billion mark before pillage.
2,755 billionaires
How many billionaires are there in the world? According to Forbes's 2021 list of billionaires, there were 2,755 billionaires worldwide in 2021, for an average of . 35 billionaires per million people. This is 660 higher than 2020's number, with a record high of 493 new billionaires joining the list.
Thats OK, The others give away massive amounts too. That is why you see hospital wings named after people. Not 99% is being given away. But enough to save your life.
Thanks for the Kim Jong-un comparison in a thread about corporate CEO's being overpaid. Looks like you won the argument.
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Well you did bring it up, as he is a candidate for the wealth pledge. So far he only gives a few million a year to his pet projects
Kim Jong Un’s $2 million aid donation raises cash transfer questions | NK PRO
North Korean leader Kim Jong Un’s latest donation of $2 million worth of aid to Japanese affiliate group Chongryon has raised questions among analysts about how Pyongyang is able to transfer such large sums to Tokyo each year. Despite global sanctions prohibiting North Korea from accessing the...
www.nknews.org
An aristocrat and noble is an aristocrat no matter how they make there money.
And yes Kim has many hospital wings, towns etc named after him. The difference is that because of the tax wright off in Canada giving away money usually makes you money. A guy I know made a fortune giving away thousands to Charity of stuff to him was garbage - but a nice tax return.
That being said "noblesse oblige" is a worthy and forgotten trait. In the olden days the only reason you raised /earned money was to fun some project that needed it - often bankrupting the family in the process. And it was a life time pursuit not something just to do when your ran out of things to buy. But ya, I ll take what I can get. But praising someone for donating what to them is less than penny of personal wealth is a necessary but not pleasant evil.
And for the record Kim is a CEO of several companies and is ripped off by western standards. I mean if he fails at his job he dies. You know he is not phoning it in like Ted Rogers used to.
PS
Richard Wagoner of GM. Gm Lost 95% of stock value. He then got a raise of 64%. Eventually after many years he lost the shareholders $85 billion and only left the company as a condition of a government bail out in 2008.
Fudd, Wagoner or O'Neal the rouges gallery of negative performance getting huge bonuses for working badly is the anti-capitalist cyberpunk dream climax come true.
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I agree with this and I disagree ....I'll tell you why. Years ago i got hired to work for a charity and i quickly learned that the money being raised was not going to the cause but rather paying our salaries and bonuses I was shocked at how little was actually given to the cause . It was as though the chaity was making our group have a decent living. Once i saw the amounts on paper I quickly decided i cannot be a part of this.Now i'mnot saying all charities are scams but yes some are its like basically giving money to some to pay for there luxery cars and vacations and multi million dollar homes all because they are running a charity. I just opened a business recently and because of my experience with charities i had to find a way around it for donating to charity so for instance years ago i went homeless i had a terrible gambling addiction so i wanted to give back to the homeless for every item sold one dollar goes to the homeless.Instead of me writing a check every year and saying to the manager heres the money. I asked the manager how can he prove to me my money will go directly to those in need andhe came upwith if you donate gift cards each homeless person will receive one so i was fine with that.Itput me at ease because charitys arent scam proof either. With the amount of money cancer reaearch has revied in the past 30 years and were still doing chemo come on some things got to change.Like when i see a poor family on tv and they say if you donate a dollar a day its going to feed one child is it really?The planet hasn't cured world hunger yet! as we throw out our over flowing plates of abundance to the trash theres still millions of people starving....so where exactly are these pledges making a real difference in the world ?I love hearing about these super millionaires/billionaires. Wanna know why? See the link below.
The Giving Pledge - Wikipedia
Massive amounts of money going to charity(instead of government waste).
The link is to the 99% club. It is for the 1% who give 99% away.
Cheers.
Do the billionaires really care enough to reasearch how much of there money is actually making a difference in the world. Theres room for improvement not just with CEOS but with charity too.
Complex issues. The Star does a story on Charities based on cost to run vs actual money used for helping. Some charities spend 99% of there budgets on salaries rent etc. Others have a much better return.
Money for hunger failed - there a Star Trek reference buried here - mainly if you give away free food then farmers in the native areas go out of business making things worse the next year. Other things are being tried but its a complex issue. Blood phones are still being used as a matter of practice, we are years away from caring about that like blood diamonds. Life is complex but paying huge payout to CEO for at best moderate success and worst out right failure is not.
A CEO who can make good decisions is worth an incredible amount of money to a company. People with a record of being able to make good decisions and provide leadership are of great value, hance in demand, hence get paid a lot of money. It has nothing to do with just working hard in the traditional sense, although most do work hard.
Boards of corporations, representing shareholders, pick CEOs, and often a CEO can make or break a company.
Comparing business owners to CEOs is not a good direct comparison...most of the worlds billionaires are business owners. Being a CEO will never get you to being a billionaire (that alone anyway) as their salaries are almost never in the ballpark for that. In some cases the owner and founder of the company will be the CEO, and in those cases the salary may not matter much in comparison to their share in the business.
Boards of corporations, representing shareholders, pick CEOs, and often a CEO can make or break a company.
Comparing business owners to CEOs is not a good direct comparison...most of the worlds billionaires are business owners. Being a CEO will never get you to being a billionaire (that alone anyway) as their salaries are almost never in the ballpark for that. In some cases the owner and founder of the company will be the CEO, and in those cases the salary may not matter much in comparison to their share in the business.
For the purpose of the post we are discussing CEO's who make more money than there staff by a significant margin - most CEO's are small business owners. If you in-corp you become a CEO - I know a lot of CEO's but we don't consider them as such. Hell all Indy escorts could be CEO's if they chose to do so. But that not what we are talking about here.
Chad Richision could easily be a billionaire with his salary. Live off 1 million and the rest for investments he would make that mark in 5 or so years 10 at max.
The prospect of amassing 10-figure wealth leading a publicly traded company isn’t new. In 1998 before the financial crisis, when stock options were the rage, Coca-Cola Co.’s Roberto Goizueta became one of the first CEOs to amass a billion-dollar fortune solely from compensation.
That being said, look at owners (and sometimes CEO's) of sports teams. They make about 200 million there players 10 or less million. How more important for a professional team the once in a million players or the CEO/owner?
We might complain that players get payed to much but compared to what they do for the team and the money they generate they are grossly underpaid and the CEO's over paid.
And there are list of 100s of CEO who where paid for failure. Why pay top dollar for the same result assuming they were competent at all.
| Chad RichisonCEO | Paycom Software | 220,003,916 |
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I get it. You are jealous and want some of that money for yourself, probably indirectly from those terrible donors via government, grant, like much of society. I'll stick with Bill Gates types working on a vaccine for malaria, etc.
You might want to become a little more knowledgeable about donations if you think giving away money(assumed to mean donations) makes you money.
I'm sure whoever got money from donations by Musk is a lot more grateful than you seem to be. I say on your behalf to Elon: Thanks. And also thank you for the hundreds of thousands of good jobs you have created as well as cutting CO2 emissions. And thanks for committing your billions to help society. Don't let the angry ones bring you down.
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Just so I am clear… you were not volunteering from the start, and you did not originally understand the charity had rent to pay… utilities… or the 50 phone lines to make solicitation calls all had to be paid for… ?
It comes down to this…. You can spend a $100,000 to earn $20,000 for charity.
…. or spend $0 and make $0.
Yes, charities have people that run them, and their time deserves compensation. I hear people complain about that all the time, yet never want to volunteer 10 hours a day, 5 days a week.
It seems the more you super-wealthy give away, the more certain people hate them. Maybe it could have gone to government handouts instead, being the reason.
Anyways, a little more info on someone who is just getting started.
"Generally, Musk’s approach to donations has differed from that of many other wealthy donors, who are often accused of publicizing their gifts as a way to burnish their reputations.
About a month before donating his stock, the notoriously provocative Musk engaged in a Twitter fight with the head of the United Nations World Food Programme, who had urged billionaires to donate $6 billion on a “one time basis” to help end starvation.
Musk said he would sell $6 billion of Tesla stock and donate the proceeds to the agency if it could show how the money would solve world hunger. David Beasley, the organization's executive director, said this week that it had yet to receive a donation from the Tesla CEO.
Soskis, of the Urban Institute, has suggested that there's room for Musk to be more transparent about his gifts while still signaling his “contempt” for “elite public opinion,” as the Tesla CEO frequently does.
At times, Musk does provide transparency about his donations. Last year, he gave $50 million to St. Jude’s Children’s Research Hospital. He also donated about $30 million to a variety of public schools and nonprofits in south Texas, where SpaceX builds its rockets.
His private foundation's latest IRS filing shows he donated 11,000 Tesla shares to the charity in 2019. From July that year to June 2020, the foundation distributed $23.6 million in grants. Some of that went directly to working charities, but a large chunk — $20.7 million — went to Fidelity Charitable, a grantmaker that sponsors DAFs.
Some who have worked with Musk explain his style of philanthropy by saying he isn't focused on looking good.
Marcius Extavour, vice president of climate and energy at XPrize, which manages Musk’s $100 million prize for carbon removal, says Musk wanted the project to be focused on finding impactful solutions and didn’t want it to use his image everywhere. That's in contrast to some other donors, who, Extavour asserts, seem more concerned about invitations to speaking engagements and other events.
“It’s been pretty nice to work with the Musk Foundation as a donor who is not.. nitpicking on how we describe this or how we describe that," Extavour said. “Or making sure they get the shine or the limelight."
Anyways, a little more info on someone who is just getting started.
"Generally, Musk’s approach to donations has differed from that of many other wealthy donors, who are often accused of publicizing their gifts as a way to burnish their reputations.
About a month before donating his stock, the notoriously provocative Musk engaged in a Twitter fight with the head of the United Nations World Food Programme, who had urged billionaires to donate $6 billion on a “one time basis” to help end starvation.
Musk said he would sell $6 billion of Tesla stock and donate the proceeds to the agency if it could show how the money would solve world hunger. David Beasley, the organization's executive director, said this week that it had yet to receive a donation from the Tesla CEO.
Soskis, of the Urban Institute, has suggested that there's room for Musk to be more transparent about his gifts while still signaling his “contempt” for “elite public opinion,” as the Tesla CEO frequently does.
At times, Musk does provide transparency about his donations. Last year, he gave $50 million to St. Jude’s Children’s Research Hospital. He also donated about $30 million to a variety of public schools and nonprofits in south Texas, where SpaceX builds its rockets.
His private foundation's latest IRS filing shows he donated 11,000 Tesla shares to the charity in 2019. From July that year to June 2020, the foundation distributed $23.6 million in grants. Some of that went directly to working charities, but a large chunk — $20.7 million — went to Fidelity Charitable, a grantmaker that sponsors DAFs.
Some who have worked with Musk explain his style of philanthropy by saying he isn't focused on looking good.
Marcius Extavour, vice president of climate and energy at XPrize, which manages Musk’s $100 million prize for carbon removal, says Musk wanted the project to be focused on finding impactful solutions and didn’t want it to use his image everywhere. That's in contrast to some other donors, who, Extavour asserts, seem more concerned about invitations to speaking engagements and other events.
“It’s been pretty nice to work with the Musk Foundation as a donor who is not.. nitpicking on how we describe this or how we describe that," Extavour said. “Or making sure they get the shine or the limelight."
They worked hard (or cheated) their way to be high up; or they got connections (crooks) or they won vagina lottery; whatever it is, that’s life. Everyone has the potential to work hard and to be happy.
jealous people are nasty people.
jealous people are nasty people.
I have to laugh at the intentionally misleading people. They intentionally don't consider the federal estate tax which takes a full 40% of everything they own. Looking at a quote in an article about Warren Buffet(not from this year),:
" With Warren Buffett’s net worth hovering around $82.6 billion, he would owe about $33,040,000,000 to the United States if he died today. So there you go, a massive amount of his money going to the government. And guess what? A bunch of U.S. states have their own estate tax on top of that leading to billions more."
But I'm sure you knew that.
Now if Warren gives away 99% of it to charity like so many billionaires do(and we should encourage as many as possible to do so), that will lower the amount going to the government. Just think...cancer society or government bureaucrats. Heart/stroke foundation or another endless list of government waste.
I have had the above diseases affect family members and so have you. My preference is easy.
Here is a list of some of the saints here:
America’s Top Givers 2022: The 25 Most Philanthropic Billionaires
From Warren Buffett to newcomer Jeff Bezos, the nation's most generous billionaires have given away a collective $169 billion in their lifetimes–and are still richer than ever.
www.forbes.com
One can always try marrying a saint.
you seem to post a lot of articles yet you contribute nothing of substance to the discussion this is not cp24. please add value to the subject matter thank you. in response to your post you exist in a capitalist system stock options is a preferred method of CEO compensation. The basic tenet of this economic contract especially for publicly traded entities is idea that the CEO will attempt to achieve outstanding returns for investors. this includes growing aggregate sales net profits and maintaining a highly efficient company. if this is achieved the CEO receives what many consider outsized gains. if the company is successful the assumption is employees based on the economic merits of there task specialization will obtain commensurate monetary returns a win win for all concerned. you say CEO's get ridiculous salaries and how much are top athletes paid with base salary and endorsements. this economic contract is not based on morality or concepts of social justice its an economic reality of capitalism. when a former CEO like Steve Jobs grow's apple from a tiny computer company into a 3 trillion dollar company did not millions of investors benefit significantly.
