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I just saw some pretty interesting numbers about CEO compensation in large corporations. Larry Fink, the head of BlackRock, is a perfect example of this.
Look, in 2022 this guy received over $32.7 million in total compensation. We're talking about $1.5 million in base salary, $7.25 million in bonuses, more than $23 million in stock awards, and other benefits. The crazy part is that his salary was 212 times the company's average employee that year, according to AFL-CIO.
But that's not even half. His true wealth comes from the shares he owns. In the SEC filing from February 2024, he held 414,146 shares of BlackRock. With the stock price at $761.28, that position alone is worth over $315 million.
And if we add everything up, Larry Fink's net worth reaches $1.1 billion according to Forbes (data from May 1, 2024). So when we talk about someone like Fink's net worth, we're not just looking at numbers on paper, but the actual concentration of wealth in the hands of corporate executives.
This is the reality of how compensation is distributed in mega-corporations. The numbers speak for themselves.