Executive compensation has skyrocketed during the pandemic, widening the wedge between CEOs and employees. These are the 5 executives who received the biggest compensation packages in 2020.
- Executive compensation has skyrocketed in 2020, according to New York Times and Equilar analysis.
- Palantir CEO Alex Karp was the highest paid public company CEO with $ 1.1 billion.
- Eight of the highest paid people received compensation worth more than $ 100 million last year.
- See more stories on the Insider business page.
For American leaders, 2020 has been a banner year.
The New York Times has partnered with executive compensation consulting firm Equilar to examine CEO compensation during the pandemic and how it compares to the average worker at the company. Data has shown that not only is the gap between employee and executive compensation widening, but executive compensation has skyrocketed in 2020.
The Times found that eight of the top earners received more than $ 100 million in compensation last year, unlike in previous years: in 2018, five executives made more than $ 100 million, and in 2019, only one earned more than $ 100 million. won.
On top of that, six of the 10 biggest executive compensation packages were handed out in 2020, according to the Times.
Here are the five highest paid executives in 2020:
1. Alex Karp, CEO of Palantir
With a salary worth $ 1.1 billion, Karp was the highest paid CEO of a publicly traded company last year, according to the Times.
Karp’s company, Palantir, officially became a public company last September via a direct listing on the New York Stock Exchange. The secret data mining company works primarily with government and law enforcement agencies around the world.
2. Tony Xu, CEO of DoorDash
DoorDash’s Tony Xu became the second highest paid executive in 2020 with a salary valued at $ 414 million.
2020 has been a pivotal year for DoorDash as the pandemic has forced people to stay home and food delivery orders have skyrocketed. DoorDash went public in a much-anticipated IPO in December.
3. Eric Wu, CEO of Opendoor
With a compensation of $ 370 million, Opendoor CEO Eric Wu was the third highest paid executive in 2020.
Opendoor is essentially a home turnaround business that uses technology to buy, renovate and sell homes. The company went public last year through a SPAC run by venture capitalist Chamath Palihapitiya.
Read more: Chamath Palihapitiya’s ego and a strategy of dispersal destroyed his venture capital firm. Now the investor has a new playbook that could put them back on top.
4. Chad Richison, CEO of Paycom
Paycom CEO Chad Richison received $ 211 million in compensation in 2020, placing him in fourth place among the highest paid executives.
Paycom provides human resource management software and pioneered the self-service approach that allows employees to sign up for benefits or check their pay stub online.
5. Joey Levin, CEO of IAC / InterActiveCorp
Joseph Levin, CEO of IAC, was the fifth highest paid executive of 2020 with $ 184 million.
IAC / InterActiveCorp owns a number of internet platforms, media and e-commerce sites, including Care.com and The Daily Beast.