Categories: Stories

Fancy $45 000 an hour!

This is not a scam. This is what Oracle chief executive officer Lawrence Ellison was paid last year. He actually earned an average of $45 790 an hour and netted just over $96 million for the year.

Oracle is a technology company which engineers hardware and software.

A new study shows that the daily pay of CEO in the United States now exceeds the annual salary of a worker.

(Larry’s hourly wage is more than the annual salary of middle managers in our part of the continent)

Nearly 50 years ago the average salary of a CEO in the United States was 20 times higher than that of the average worker. Today it is 273 times higher.

 

 

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Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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