Top Earning CEOs in the World
One may expect famous people like Warren Buffet, Bill Gates, and other billionaires to be among the top-earning chief executive officers in the world. Surprisingly, the most famous CEOs are not the highest paid. Although their net worth is higher than others considering their stock options and other assets, their monthly pay slips are way below some of the CEOs for top companies. Figuring out the top earning CEOs in the world is not straight forward as different countries have different rules surrounding the disclosure of executive pays. Private companies do not have an obligation to publish the information. The complex structure used in the calculation of compensation makes it even more complicated to determine the highest paid individuals. Most of the top earning CEOs work for America and Europe’s top companies. Some of the top earning CEOs include:
J. Michael Pearson
Valeant Pharmaceutical International is a multinational company based in Laval, Quebec. It develops and manufactures a wide range of medical products, especially in dermatology and optical health. J. Michael Pearson, its former CEO, was the highest paid CEO in the world in 2015 to 2016 financial year with a net pay of $182 million. Pearson joined the company in 2008 steering it to higher profit levels by eliminating risky and inefficient research and development. By 2013, the company was the largest pharmaceutical company in Canada. The company returned more than 2,300% in shares making it the most valuable and the best performer in Toronto Stock Exchange. Pearson was deposed from his position following several controversies including pricing and accounting tactics.
Joe Kiani is an Iranian-American entrepreneur and the founder of Masimo, a medical technology firm. He founded the company in 1989 with the company currently publicly traded. The company has over 3,000 employees worldwide and uses its technology to monitor over 100 million patients every year. Masimo Company is known for the pulse oximetry which is a common monitoring technology used in healthcare. Kiani is actively involved in the reformation of the US healthcare system and also encourages medical innovation. He promotes activities that improve the safety of patients and deliver advanced healthcare. In 2013, he founded the Safety Patient Movement Foundation which aims at reducing the high number of preventable patient deaths. Masimo Corporation pays Joe Kiani $119 million per annum.
Lyndon Rive is the CEO and one of the founders of SolarCity, a company that provides clean energy services. He co-founded the company with his brother Peter in 2006. SolarCity has its main office in San Mateo, California and is the largest solar energy service provider in the country. The company has developed from about 400 MW of solar panels installed in 2009 to over 6,000 MW in 2014. It has diversified with the aim of reducing cost and improving sales. Rive, who has steered the company to such a growth level, started his first company at the age of 17. He also co-foundered a software company known as Everdream which was acquired by Dell. He is one of the world’s top innovators under the age of 35 years. Rive earned a net pay of over $77 million in 2015.