The American Federation of Labor conducted a comprehensive study on executive compensation in the United States. According to the analysis, the median pay package for CEOs of S&P 500 companies reached around $18 million in 2023, an astounding 268 times the average wage of regular employees. Let's take a closer look at the top-earning US executives.
Jon Winkelried
In 2023, Jon Winkelried, CEO of private equity firm TPG Inc., emerged as the highest-paid executive in the United States. He earned nearly $200 million last year, thanks in large part to his company's strong financial performance. TPG significantly increased its assets after acquiring investment firm Angelo Gordon, boosting its total assets under management to $212 billion. The firm also achieved notable profit growth in 2023.
Harvey Schwartz
Harvey Schwartz, CEO of Carlyle Group, earned nearly $188 million last year. He took the helm in February 2023 and quickly elevated the company's performance. Under his leadership, Carlyle Group saw a significant rise in assets under management, driven by an expanded investment portfolio in high-growth sectors such as technology and energy. The firm also completed several major deals that increased its market value and attracted additional capital.
Hock E. Tan
Hock E. Tan, CEO of Broadcom, earned nearly $162 million in 2023. He has been leading the company for over a decade, during which time he has transformed Broadcom into a global leader in semiconductors and software solutions. Last year, Broadcom strengthened its market position through a strategic acquisition of VMware for $61 billion, solidifying its presence in cloud and enterprise solutions.
Nikesh Arora
Nikesh Arora, CEO of Palo Alto Networks, managed to earn approximately $151 million in 2023. Since taking over in 2018, Arora has strengthened the company’s leadership in cybersecurity and cloud solutions. Last year, Palo Alto Networks saw revenue growth, driven by rising demand for cybersecurity products and the expansion of its portfolio, including cutting-edge AI and cloud technologies.
Sue Y. Nabi
Sue Y. Nabi, CEO of Coty, rounds out the list of the top-earning executives. She earned over $149 million in 2023, making her one of the highest-paid women in the beauty industry. Since taking the helm in September 2020, Nabi has led Coty to significant market gains. The company saw strong revenue growth last year, fueled by the successful launch of the Burberry Goddess fragrance and the expansion of the Lancaster skincare line. In addition, Coty deepened its presence in the luxury segment by securing licensing agreements with fashion houses Hugo Boss and Marc Jacobs.