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Several CEOs took the lead on compensation last year, according to the Wall Street Journal.
The Journal reported Tuesday that Broadcom’s Hock Tan, Palo Alto Networks’ Nikesh Arora, Blackstone’s Stephen Schwarzman, Charter Communications’ Christopher Winfrey and Fair Isaac’s (FICO) Will Lansing are among the top five CEOs of S&P 500 companies in terms of payouts in 2023.
Journal said: The analysis We looked across hundreds of S&P 500 companies and their CEOs and ranked 415 of them by total reported 2023 cash and stock compensation.
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CEO compensation increases year on year
According to the media’s analysis, the median compensation paid to CEOs by S&P companies increased by more than 8% from a year earlier to $15.7 million in 2023.
istock inflation concept (iStock/iStock)
The S&P 500 itself is up nearly 12% since the start of the year and more than 26% over the past 12 months, while the Dow Jones Industrial Average and Nasdaq Composite are up more than 19% and 32%, respectively, over the past year.
Highest salary packages of 2023 identified by the Journal
1. Hock Tan
Broadcom Limited’s company logo is displayed outside one of its office complexes in Irvine, California, United States, on March 4, 2021.Reuters/Mike Blake (Reuters/Reuters Photo)
Tan ranked No. 1 on the Wall Street Journal’s list because Broadcom will pay him approximately $161.83 million in compensation in 2023. Only a small portion of that will be paid in cash, the outlet said, with the company tying most of it to his continued tenure as CEO and stock price movements. He reportedly received compensation worth $60.6 million the year before.
2. Nikesh Arora
Arora, who rose to second place last year with $151.43 million in compensation that is said to be heavily stock-based, has been Palo Alto Networks’ chief executive officer for about six years. The cybersecurity company announced Monday that it generated revenue of approximately $5.84 billion and net income of approximately $2.22 billion in the first three quarters of fiscal 2024.
3. Stephen Schwartzman
The Journal pegs Schwartzman’s 2023 compensation at $119.78 million. Blackstone manages more than $1 trillion in assets, and its market capitalization hovers around $154.41 billion.
Widening CEO pay gap puts New York ahead of London
4. Christopher Winfrey
This photo shows the Charter Spectrum logo displayed on the smartphone and the Charter Communications logo in the background. (Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)
Winfrey’s tenure as CEO of Charter Communications, which had approximately 101,100 full-time equivalent employees at the end of 2023, has lasted nearly a year and a half. As of 2023, most of his $89.1 million in compensation was in stocks and options with a five-year vesting period, according to the Journal. There were also reportedly regulations regarding stock performance. The median salary the company paid Charter employees was reportedly nearly $54,500.
5. Will Lansing
Winfrey’s total payment of approximately $66.35 million in 2023 includes $30 million with a five-year vesting period related to her continued leadership of the company, the Journal said. Under his watch, FICO stock has soared more than 77% over the past year.
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