CEO compensation, relative to the amount the average american is paid, has skyrocketed in the past few decades. In 1965, the average CEO pay was 18.3 times the average worker pay. By 2012, CEOs made 200 times workers pay.
In addition to huge paychecks, the nation’s biggest corporate heads are also often receiving special treatment and perks that arguably cross the line of fair compensation for work performed. Like many corporate employees, executives receive pensions and 401(k)s. But that’s frequently just the beginning.
Often, they are allowed the use of the company jet for personal use, or are issued a personal security detail. In others, they are compensated for insurance, accounting and legal fees in the tens of thousands of dollars or more. 24/7 Wall St reviewed some of the most outrageous perks that companies give their already highly-compensated CEOs.
Many of the CEOs receiving some of the more exotic fringe benefits are closely tied to the history of their company. In some cases, their names are nearly as big as the corporate brand, and they have a great deal of power in setting the direction the company takes.
This may be why founders such as Oracle’s Larry Ellison make this list. Oracle paid more than $1.5 million in 2012 alone to provide Ellison with a personal security service, justifying the expense based on his value to the company. Wynn Resorts leases founder and CEO Steve Wynn a Las Vegas villa for him.
To identify the most outrageous CEO perks, 24/7 Wall St. reviewed compensation data for the 100 highest paid CEOs provided by FindTheBest. Compensation data accounts for all proxy statements filed by publicly traded companies with the U.S. Securities and Exchange Commission through Q3 2012. Examples of compensation that reflects CEO perks was based on a review of the most recent proxies filed by the 100 companies.
These are the eight most outrageous CEO perks.