If Ryan Cohen took a salary in that leauge the bear thesis would still be alive and the turnaround of GameStop might never happen (or be significantly delayed). My executive chairman has other plans 🙌

  • Rozaŭtuno@lemmy.blahaj.zone
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    1 year ago

    Threy are paid wages like everybody else. And a CEO of a fortune 500 company will have special skills that nobody else has.

    You must be disconnected from reality to think like that. What incredible skills do Bezos and Musk have to gain 10000% more than all of their employees combined?

    a CEO is an asset

    Most businesses thrive despite CEOs, not thanks to them. Worker-owned cooperatives are reliably more stable.

    And these people still pay tax, and a lot of it.

    Have you heard of the Panama papers?

    • senoro@lemmy.ml
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      1 year ago

      Elon Musk and Jeff Bezos are different to people like Tim Cook and Satya Nadella. Bezos took a relatively low salary when he was CEO of Amazon, and Musk takes supposedly no salary, because they don’t earn their wealth from a salary. Tim Cook doesn’t need to be more productive than some factory worker in China making 50 iPhones a day, because if paying him $100mn a year makes Apple $110mn a year vs someone else who takes $50k a year and brings Apple $2mn. They still take Cook because the profit is $10mn vs $1.95mn. Like I said, it’s about who can make the most money for the company.

      I am very very sceptical about your claim that most businesses thrive without CEOs. Every medium to large company has a CEO, unless it’s a cooperative in which case they have a chair (and in large cooperatives, these chairs still command high salaries). John Lewis, the largest cooperative in the UK, has a chair who earns a salary of £990k.

      And finally some people do dodge tax, not everyone does. In 2016, Tim Cook was awarded a $135mn salary, on which he paid $70mn in taxes. What am I supposed to say to this point really? Some people commit tax fraud, it’s still a crime. Maybe it’s not followed as much as it should be, but it’s still illegal.