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Earned 1,711 times as much as employees

Intel CEO Pat Gelsinger earned $ 178.6 million – $ 1.6 billion – since he became chief executive in February last year, according to an SEC report.

That’s a whopping 1,711 times as much as the average Intel worker.

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In 2020, former Intel CEO Bob Swan earned 217 times as much as the average worker – only one-eighth of what Gelsinger raises today. About 80 percent of Gelsinger’s compensation was shares.

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However, it is not just Intel that pays top executives well. Apple CEO Tim Cook earned 1,447 times as much as the average worker in 2021.

Apple shareholders approved the payment despite advisers warning against it. Intel shareholders will vote on Gelsinger’s remuneration at the general meeting on 12 May.

Gelsinger has launched a large-scale turnaround operation in Intel and wants to take the company back to its former glory. The company was the world’s largest chip manufacturer, but has now been taken over by Taiwan Semiconductor Manufacturing.

Last year, the share rose 6.8 per cent, while this year it has fallen 17 per cent due to difficulties in the value chain and increased competition.

The remuneration for 2021 included a one-time payment of $ 110 million for what he could offer the company of expertise. About half of this was a bonus he had waived in the previous company, according to the SEC report.

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