Number of CEOs Making $50M+ Climbs
May have been higher than ever last year
By Evann Gastaldo,  Newser Staff
Posted Mar 22, 2012 7:05 AM CDT
Updated Mar 22, 2012 8:07 AM CDT
Occidental Petroleum Chairman and CEO Dr. Ray Irani made $80.4 million last year, easily placing him in the $50 Million Club.   (AP Photo/Occidental Petroleum, file)

(Newser) – Two more executives last year joined what USA Today calls the "$50 Million Club," the group of executives who—you guessed it—make $50 million or more per year. Annual proxy statements filed this week show that compensation for Occidental Petroleum's Ray Irani was valued at $80.4 million; Gilead Sciences' John Martin made about $54.5 million. Looks like 2011 was a particularly good year for CEO pay, thanks to improving stock prices and corporate profits, and there may even be an "unprecedented" number of members in the club.

Some who have already reported:

  • Tyco International's Ed Breen, $68.9 million
  • Starbucks' Howard Schultz, $68.8 million
  • Walt Disney's Robert Iger, $52.8 million
  • Apple's Tim Cook made a whopping $378 million. All but $2 million of that is from restricted stock after Cook replaced Steve Jobs, half of which vests in five years and the remainder in 2021.

 

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