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In 2021 the CEO earned 82 million total compensation according to SEC proxy statement[1], then about 7-8 million for the next two named execs. [1] https://s27.

In 2021 the CEO earned 82 million total compensation according to SEC proxy statement[1], then about 7-8 million for the next two named execs. [1] https://s27.q4cdn.com/619704647/files/doc_financials/2021/ar/2022_Proxy_Statement%5B1%5D.pdf https://s27.q4cdn.com/619704647/files/doc_financials/2021/ar...

ithkuil 4y ago
A million is not what it used to be. Jokes aside, I was surprised to learn that there are 24 million millionaires in the U.S. that's more than 10% the working-age population. It's still a minority of course, and probably most of them are people who saved enough throughout their whole career (while here we were talking about people who made multiple millions every year), but still I found it interesting
- deleted 4y ago
  [deleted]
- hnbad 4y ago
  There's a difference between having a net worth of a million dollars, ten million dollars and a hundred million dollars. There's also a world of a difference between having a million dollars and making millions of dollars every year. If you own your house, you can easily be a "millionaire" based on the total cost of ownership but that doesn't mean you have anywhere near the disposable income or institutional power as an exec making upwards of 5 million dollars per year.
  - chasd00 4y ago
    that's correct, there may be a lot of millionaires in terms of total wealth but very few can walk into a Porsche dealership and write a check for two 911 turbos.
    - blamazon 4y ago
      A check? You're gonna pass on all those credit card points?
  - TEP_Kim_Il_Sung 4y ago
    You can be paying a mortgage on a house worth 100,000 dollars, have a dead-end job, live paycheck to paycheck, with no more than 1000 dollars in savings, and still count as a net-worth millionaire.
    - 8n4vidtmkvmk 4y ago
      Huh? Wouldn't that put your net-worth at $101,000 minus the amount owing on your mortgage?
      - TEP_Kim_Il_Sung 4y ago
        Not mine, no. I have no house.
      - TEP_Kim_Il_Sung 4y ago
        I suppose some agencies count your ability to generate revenue?
        8n4vidtmkvmk 4y ago
        No. Networth is your current value, not future.
        astura 4y ago
        No they don't.
    - astura 4y ago
      No you can't, that's not what "net-worth millionaire" is. Net worth is assets minus liabilities. If you had no savings or investments and a $100,000 house with a $99,000 mortgage your net worth would be $1,000, not a million dollars.
- omgomgomgomg 4y ago
  This is indeed a remarkable number, I read 30m millionaires some place else. Do they count stocks which are held but not cashed out and do they count houses which are subject to mortgages? If no, then that is a truly impressive number, I think even Switzerland does not come close by percentage.
  - jacobsenscott 4y ago
    They certainly count home equity and stocks, which could easily have doubled in the last 5 years. But none of that is very liquid. Salaries have been losing value due to inflation - there are plenty of millionaires living paycheck to paycheck.
- FredPret 4y ago
  I always knew the USA was rich, but then I dug into the numbers. It’s actually staggering. It’s not really even about GDP per capita. What matters is accumulated wealth and existing infrastructure/social investments. Check out this report (https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-report-2022-en.pdf https://www.credit-suisse.com/media/assets/corporate/docs/ab...) net wealth of 560k per adult in North America, vs 180k in Europe, 77k in China, all the way down to 8.5k in Africa. Even the median wealth in the USA is 94k per adult, vs 26k for China and Europe. Not only is the USA ahead of the game by a ridiculous amount, they’re making progress faster. And when I travelled there and to other rich countries, all this was confirmed again; in the material weatlh, but also culturally. The numbers are in, and I think we can call a winner in the economic systems contest.
  - ad404b8a372f2b9 4y ago
    You're doing some heavy cherry-picking, net MEAN wealth is 560k in the U.S, 180 in Europe-aggregate, >400k in Denmark, >300k in France, Norway, Belgium, ... And net median wealth is 93k in the U.S, 267k in Belgium, >100k in Spain, Italy, France, ... As far as I remember, the American median salary was closer to 50k, Germany close to 45, France close to 40k. Don't have the numbers on hand, but off the top of my head.
    - FredPret 4y ago
      Why off the top of your head? Look at the report. My numbers come straight out of the comparison tables.
      - ad404b8a372f2b9 4y ago
        My numbers also come straight from the comparison tables, the point is if you pick different numbers you paint a very different picture. There are no salary numbers in your report about wealth, which is why I cited those from memory. If you want a source you can look it up, it'll change slightly depending on how you measure them (for example adjusting for PPP). Either way the broad point is that the salary numbers paint the same picture as the wealth numbers you omitted: People aren't dirt poor in Europe and walking on streets of gold in the U.S.
- nfRfqX5n 4y ago
  I'd guess baby boomers who own homes probably account for most of that population
jacobsenscott 4y ago
And if he were "laid off" he would get a years salary, bonus, and his health insurance would be covered by DO for a year.

ithkuil 4y ago

A million is not what it used to be. Jokes aside, I was surprised to learn that there are 24 million millionaires in the U.S. that's more than 10% the working-age population. It's still a minority of course, and probably most of them are people who saved enough throughout their whole career (while here we were talking about people who made multiple millions every year), but still I found it interesting

deleted 4y ago
[deleted]
hnbad 4y ago
There's a difference between having a net worth of a million dollars, ten million dollars and a hundred million dollars. There's also a world of a difference between having a million dollars and making millions of dollars every year. If you own your house, you can easily be a "millionaire" based on the total cost of ownership but that doesn't mean you have anywhere near the disposable income or institutional power as an exec making upwards of 5 million dollars per year.
- chasd00 4y ago
  that's correct, there may be a lot of millionaires in terms of total wealth but very few can walk into a Porsche dealership and write a check for two 911 turbos.
  - blamazon 4y ago
    A check? You're gonna pass on all those credit card points?
- TEP_Kim_Il_Sung 4y ago
  You can be paying a mortgage on a house worth 100,000 dollars, have a dead-end job, live paycheck to paycheck, with no more than 1000 dollars in savings, and still count as a net-worth millionaire.
  - 8n4vidtmkvmk 4y ago
    Huh? Wouldn't that put your net-worth at $101,000 minus the amount owing on your mortgage?
    - TEP_Kim_Il_Sung 4y ago
      Not mine, no. I have no house.
    - TEP_Kim_Il_Sung 4y ago
      I suppose some agencies count your ability to generate revenue?
      - 8n4vidtmkvmk 4y ago
        No. Networth is your current value, not future.
      - astura 4y ago
        No they don't.
  - astura 4y ago
    No you can't, that's not what "net-worth millionaire" is. Net worth is assets minus liabilities. If you had no savings or investments and a $100,000 house with a $99,000 mortgage your net worth would be $1,000, not a million dollars.
omgomgomgomg 4y ago
This is indeed a remarkable number, I read 30m millionaires some place else. Do they count stocks which are held but not cashed out and do they count houses which are subject to mortgages? If no, then that is a truly impressive number, I think even Switzerland does not come close by percentage.
- jacobsenscott 4y ago
  They certainly count home equity and stocks, which could easily have doubled in the last 5 years. But none of that is very liquid. Salaries have been losing value due to inflation - there are plenty of millionaires living paycheck to paycheck.
FredPret 4y ago
I always knew the USA was rich, but then I dug into the numbers. It’s actually staggering. It’s not really even about GDP per capita. What matters is accumulated wealth and existing infrastructure/social investments. Check out this report (https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-report-2022-en.pdf https://www.credit-suisse.com/media/assets/corporate/docs/ab...) net wealth of 560k per adult in North America, vs 180k in Europe, 77k in China, all the way down to 8.5k in Africa. Even the median wealth in the USA is 94k per adult, vs 26k for China and Europe. Not only is the USA ahead of the game by a ridiculous amount, they’re making progress faster. And when I travelled there and to other rich countries, all this was confirmed again; in the material weatlh, but also culturally. The numbers are in, and I think we can call a winner in the economic systems contest.
- ad404b8a372f2b9 4y ago
  You're doing some heavy cherry-picking, net MEAN wealth is 560k in the U.S, 180 in Europe-aggregate, >400k in Denmark, >300k in France, Norway, Belgium, ... And net median wealth is 93k in the U.S, 267k in Belgium, >100k in Spain, Italy, France, ... As far as I remember, the American median salary was closer to 50k, Germany close to 45, France close to 40k. Don't have the numbers on hand, but off the top of my head.
  - FredPret 4y ago
    Why off the top of your head? Look at the report. My numbers come straight out of the comparison tables.
    - ad404b8a372f2b9 4y ago
      My numbers also come straight from the comparison tables, the point is if you pick different numbers you paint a very different picture. There are no salary numbers in your report about wealth, which is why I cited those from memory. If you want a source you can look it up, it'll change slightly depending on how you measure them (for example adjusting for PPP). Either way the broad point is that the salary numbers paint the same picture as the wealth numbers you omitted: People aren't dirt poor in Europe and walking on streets of gold in the U.S.
nfRfqX5n 4y ago
I'd guess baby boomers who own homes probably account for most of that population

jacobsenscott 4y ago

And if he were "laid off" he would get a years salary, bonus, and his health insurance would be covered by DO for a year.