CEO compensation saw a significant rebound in 2025, with the median total compensation for S&P 500 chief executives rising to $17.7 million, a 5.9% increase from 2024. This single-digit growth marks the smallest annual increase since 2022, yet it outpaced the 4.7% wage growth for the median employee, further widening the CEO-to-worker pay ratio to 200:1.
Several CEOs received compensation packages exceeding $100 million, a concentration not seen since 2021. Tesla's Elon Musk topped the list with a record-setting $132.3 billion package, entirely in long-term stock awards tied to ambitious performance targets. Other high earners included Shankh Mitra of Welltower ($821.1 million), George Kurtz of Crowdstrike ($248 million), and Hock Tan of Broadcom ($205.3 million).
Compensation for these top executives largely consisted of stock awards, often contingent on achieving specific company performance goals over several years, such as increased stock price, market value, or operating profits. For instance, Hock Tan's $205.3 million package at Broadcom is tied to increasing AI-generated revenue. Shareholder "say on pay" votes, while non-binding, typically see overwhelming support, with an average "yes" vote of around 90% in this year's survey.
Notable pay packages also included David Zaslav of Warner Bros. Discovery ($165 million) for negotiating the sale of Warner Bros., Stephen Schwarzman of Blackstone ($126 million), and David Solomon of Goldman Sachs ($119 million), whose package was boosted by a 57% gain in the company's shares. Nikesh Arora of Palo Alto Networks received $100 million despite shareholders rejecting his pay package in a non-binding vote, highlighting the continued rise in executive payouts.
