The top-paid CEOs in the United States in 2024: The executives earning more than $50 million
The heads of Coherent, Starbucks, GE, Blackstone, Microsoft, and Apple are among the highest-paid business leaders of publicly traded companies
Most publicly traded U.S. companies have released the announcements for their shareholder meetings, including reports on executive compensation. The top executives of major U.S. companies have astronomical salaries. In addition to fixed salaries and cash bonuses, they receive incentives in the form of stock options or shares, pushing their total compensation into tens of millions of dollars.
While some major companies have yet to publish their reports, there are already more than a dozen CEOs with compensation packages exceeding $50 million. Leading the pack of chief executive officers is Jim Anderson, the new hire at Coherent, a medium-sized technology company that is not listed on the S&P 500 index, with $101.5 millions. He is followed by another high-profile hire, Brian Niccol, from Starbucks, with $95.8 million. Behind him are the CEOs of GE (Larry Culp, $88.9 million); Paramount (Bob Bakish, $87 million); Blackstone (Steve Schwarzman, $84 million); Microsoft (Satya Nadella, $79.1 million), and Apple (Tim Cook, $74.6 million). The list does not include the person who is currently the highest-paid executive in the United States in 2024, with $139 million, Tesla’s chief financial officer, Vaibhav Taneja, as he is not the company’s chief executive officer.
The ranking includes leaders of publicly traded companies who received more than $50 million in total compensation. In 2023, five executives surpassed the $100 million mark: Jon Winkelried of TPG ($198.7 million), Harvey M. Schwartz of Carlyle ($187 million), Hock E. Tan of Broadcom ($161.8 million), Nikesh Arora of Palo Alto Networks ($151.4 million), and Sue Y. Nabi of Coty ($149.4 million). So far in 2024, only one CEO has exceeded $100 million.
1. Jim Anderson (Coherent): $101.5 million
The highest-paid CEO in the United States is a complete unknown to the general public. His company is not even among the largest in the United States. He is Jim Anderson, the new head of Coherent, a technology firm that manufactures optical and semiconductor materials valued at around $11 billion. His fixed salary for 2024 was only $81,538, but he received a signing bonus of $500,000 in cash and a stock incentive package valued at $100.9 million. The company complains that the package was designed to compensate Anderson for leaving semiconductor firm Lattice and that its original value was much lower, but that when the share price skyrocketed with his signing, the calculation system required to value that incentive produced that result. “Ironically, the high value of the inducement grants reported below was driven to a large degree by the market’s favorable response to the news of Mr. Anderson’s appointment,” the company said.
2. Brian Niccol (Starbucks): $95.8 million
Brian Niccol was the corporate world’s star signing in 2024. In August, Starbucks hired him to lead the coffee chain, bringing on board the then-CEO of Chipotle, a Mexican fast-food company that he had transformed into an empire. Prior to that, he had worked at Pizza Hut and served as the head of Taco Bell. The mere announcement of his appointment sent Starbucks’ stock soaring. At 51 years old, Niccol was handsomely rewarded. Despite taking the helm in September, his total compensation amounted to $95.8 million. He signed a $10 million signing bonus — half of which was paid last year — and received stock incentives worth $90.3 million, largely to compensate for the awards he forfeited by leaving Chipotle. His salary, along with housing, legal fees, and other benefits, brought his total compensation to the reported $95.8 million.
3. Larry Culp (GE Aerospace): $88.9 million
The compensation of Larry Culp, chairman and CEO of GE Aerospace — the successor to General Electric — soared from $14 million to $88.9 million in 2024. The main reason was a special long-term stock incentive worth $49 million, tied to the company’s share price and set to vest by the end of his contract in 2027.
According to the company’s compensation report, the award agreement “provides a stronger retention incentive than simply increasing his annual compensation package would have.” To receive it, Culp must “achieve the performance target and fulfill the term of the contract.” The value of the award reflects “Mr. Culp’s exceptional past performance and his ability to lead GE Aerospace to success at this critical time,” the report adds.
Altogether, Culp earned a fixed salary of $2.25 million, a $6.8 million cash bonus, $78.3 million in stock incentives, and $1.6 million in pension and other benefits.
4. Bob Bakish (Paramount Global): $87 million
Bob Bakish, who was president and CEO of Paramount Global until last year, received $69.3 million in severance pay for stepping down as the group’s top executive and being replaced in April by a troika of executives. Thanks to his multimillion-dollar severance package, Bakish ranked among the highest-paid executives in the United States in 2024. His total compensation was $86.96 million, up from $31.3 million the previous year.
5. Steve Schwarzman (Blackstone): $84 million
For Steve Schwarzman, chairman and CEO of Blackstone, the $84 million compensation in 2024 represents a significant reduction. The executive earned $253 million in 2022 and $120 million in 2023. Blackstone’s compensation system differs from the typical corporate structure and is based on a form of success fee. His base salary is $350,000, with the rest made up of “distributions, whether cash or in-kind, in respect of profit-sharing or incentive fee allocations” tied to Blackstone’s performance plans, according to the company’s annual report. At 78 years old, Schwarzman is a co-founder and controlling shareholder of the investment firm, holding 51.8% of the capital. His salary is a small portion of his vast fortune, valued at $43 billion.
6. Satya Nadella (Microsoft): $79.1 million
Microsoft operates on an irregular fiscal year, so the compensation of its CEO, Satya Nadella, is for the fiscal year ending on June 30. Nadella, 57, born in India, has led the company since 2014 and has been its chairman since 2021. The executive’s compensation surged by 63% last year, reaching $79.1 million, in recognition of the company’s success and strong operational and stock market performance. Nadella earned a fixed salary of $2.5 million, a $5.2 million cash bonus, $71.2 million in stock incentives, and additional benefits.
7. Tim Cook (Apple): $74.6 million
Tim Cook, CEO of Apple, earned $74.6 million for the fiscal year ending on September 30, an 18% increase from the previous year, but still below the $99.4 million he received in 2022. Cook’s salary hike came in a year when Apple’s profits declined for the second consecutive year. Nonetheless, the company achieved new record highs on the stock market and closed the calendar year as the world’s most valuable company by market capitalization. Cook earned $98.7 million in 2021, which sparked criticism from investors and shareholders. In the annual meeting for that year, shareholder support for the advisory vote on executive compensation plummeted from 95% to 64%. As a result, the company decided to lower Cook’s compensation after discussions with shareholders and the executive himself.
8. Joe Bae (KKR): $73.1 million
The investment firm KKR has two co-chairmen and two joint CEOs. Together, the four top executives earned a total of $229 million in 2024. The highest-paid of them was Joe Bae, 52, born in South Korea. Similar to Blackstone, KKR compensates its executives with a performance-based commission or success fee. Bae’s base salary was $300,000, but his total compensation rose to $73.1 million due to this performance-based bonus, up from $50 million the previous year, according to the figures in the firm’s annual report.
9. David Gitlin (Carrier Global): $65.7 million
David Gitlin, 55, made his way onto the list of the highest-paid executives in the United States in 2024, despite his company, Carrier Global, not even being among the top 150 companies in the S&P 500 by market capitalization. Carrier is a multinational specializing in heating, ventilation, air conditioning, refrigeration, and fire and security systems, based in Palm Beach Gardens, Florida. Gitlin has led the company since 2019 and has chaired the board since 2021.
The company awarded him a special incentive due to “the criticality of having CEO continuity to remain on course with its ongoing transformation while delivering superior value to shareowners, and the significant concern about Mr. Gitlin’s retention against the background of numerous media speculations about the possibility of him taking on a CEO role with a different public company,” according to the company’s compensation report. Thanks to this extraordinary long-term incentive in stock and options, his compensation rose from $17.7 million in 2023 to $65.7 million in 2024.
10. Scott C. Nuttall (KKR): $64.2 million
Scott C. Nuttall is the other joint CEO of KKR. His compensation rose from $47.1 million in 2023 to $64.2 million in 2024, similar to Bae’s increase, due to the firm’s performance-based commission. Nuttall, 53, took on the day-to-day management of the company alongside Bae, while Henry Kravis and George Roberts transitioned to the roles of co-executive chairmen.
11. Ted Sarandos (Netflix): $61.9 million
The on-demand streaming platform Netflix also has two of its CEOs among the highest-paid executives in the United States. The company’s founder and architect, Reed Hastings, stepped down from day-to-day management in 2023, with Ted Sarandos and Greg Peters taking over. In 2024, both received a stock award valued at $42.7 million, which helped them join the ranks of the highest-paid executives. Sarandos earned a base salary of $3 million, a $12 million cash bonus, the aforementioned $42.7 million in stock, options worth $2.2 million, and additional compensation totaling $1.96 million.
12. Greg Peters (Netflix): $60.3 million
Greg Peters’ compensation scheme as joint CEO of Netflix is very similar to that of his colleague Ted Sarandos. He also received a base salary of $3 million, a $12 million cash bonus, and $42.7 million in stock. However, in his case, the options granted were valued at $1.95 million, and the additional compensation amounted to $613,000. In total, his compensation reached $60.3 million.
13. Nikesh Arora (Palo Alto Networks): $58.0 million
The head of technology firm Palo Alto Networks received a salary of $1 million in fiscal year 2024, a cash bonus of $1.2 million, a stock incentive of $54.1 million, and other compensation totaling $1.7 million. However, his salary of $58 million is significantly lower than in the previous fiscal year, when he earned $151.4 million, mainly thanks to a stock award.
14. Marc Benioff (Salesforce): $55.1 million
Marc Benioff’s compensation as chairman and CEO of Salesforce totaled $55.07 million in 2024, up from $39.6 million the previous year. The 60-year-old executive, who founded the company in 1999 and has been its CEO since 2001, received a salary of $1.55 million; $3.5 million in cash incentives; $28 million in stock incentives; $18.4 million in stock options; and $4.6 million in other compensation. The latter consists mainly of security costs assumed by the company and the use of the company’s private jet for personal purposes.
15. Shantanu Narayen (Adobe): $52.4 million
Shantanu Narayen’s compensation increased by 17% in 2024, reaching $52.4 million. The 61-year-old chair and CEO of Adobe, originally from India, is a long-time figure at the company. He joined in 1998 and has led the company since 2007. In 2024, Narayen received a base salary of $1.5 million, a $2.94 million cash bonus, $46.3 million in stock incentives, and $1.6 million in other compensation.
16. David M. Zaslav (Warner Bros Discovery): $51.9 million
Among the executives earning more than $50 million in 2024, David Zaslav heads the company with the smallest market capitalization. Warner Bros Discovery is valued at just around $20 billion on the stock market and is not among the top 350 companies in the S&P 500. Hundreds of CEOs of larger companies earn smaller salaries. Zaslav has been president and CEO since the merger between Discovery and WarnerMedia was completed in 2022. Previously, he was president and CEO of Discovery since 2007. In 2024, he earned $3 million in cash, $23.9 million in cash bonuses, $23.1 million in stock awards, and $1.9 million in other compensation.
17. Rajiv Ramaswami (Nutanix): 51,1 millones de dólares
Nutanix es una empresa de computación en la nube que vende software para centros de datos, valorada en menos de 20.000 millones de dólares. Su jefe, Rajiv Ramaswami, cobró en el ejercicio 2024 un sueldo fijo de 800.000 dólares y un bonus de 560.000. Lo qu disparó su retribución fue un incentivo en acciones valorado en casi 49,8 millones de dólares.
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