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Actually, do you need a US$595 million salary yeah?

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Who earns a salary of US$595 million (RM2,538 billion)? Well, only one man currently. Let’s have the details later. However, I actually wanted to ask if there should be any CEO who should earn so much money, even assuming his company is REALLY so profitable… Think a little yeah. If he earns 2% lower which is RM5 billion lower, this RM5 billion divided by 1,000 staffs for one year is equal to nearly RM500,000 salary per staff per year! With this 2% gone, he gets 98% of the remaining. Well, perhaps only the person could decide then. Okay, details as below:

Article in straitstimes.com.sg Mr Elon Musk has just earned a pay-day of US$595 million and this made him the highest-paid chief executive in the United States. Mr. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin. He owns about a fifth of Tesla’s outstanding stock and this gives him a US$70.5 billion fortune. His majority ownership of closely held SpaceX accounts for about US$15 billion.

Mr Mike Novogratz, the long-time money manager who now runs digital currency investor Galaxy Digital Holdings has warned that valuations of technology companies are getting way too high and that small investors should get out of the market before it crashes. He gave this assessment, “We are in irrational exuberance – this is a bubble.” Here are the top 10 billionaires list:

1. Jeff Bezos US$189 billion (US, tech)

2. Bill Gates US$116b (US, tech)

3. Mark Zuckerberg US$93.0b (US, tech)

4. Bernard Arnault US$92.6b (France, consumer)

5. Steve Ballmer US$76.8b (US, tech)

6. Larry Page US$72.7b (US, tech)

7. Elon Musk US$70.5b (US, tech)

8. Sergey Brin US$70.4b (US, tech)

9. Mukesh Ambani US$70.2b (India, energy)

10. Warren Buffett US$69.2b (US, diversified)

For full article please read: Article in straitstimes.com.sg

Everyone knows the richest will get ever richer and the poorer, well stays poor. However, a salary of US$500 million a year? The company did not get to where it was because of one person and even assuming it’s really due to that one person, perhaps a small portion of the salary (as calculated above) could have gone to all the people in the company who has worked as hard if not harder so that the vision of the founder could be achieved. Happy following all these news of ever richer multi-billionaires.

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