AS YOU SOW’S 100 MOST OVERPAID CEOs OF 2023 & WHETHER THEY EARNED A B-SCHOOL DEGREE
| As You Sow Most Overpaid Rank | Company | CEO | Business Degree? | CEO Pay | Amount of
Overpay – As You Sow |
CEO:Worker
Pay Ratio |
Median
Worker Pay |
| 1 | Live Nation Entertainment, Inc. | Michael Rapino | Bachelor’s of Administration – Lakehead University | $139,005,565 | $123,765,001 | 5414:1 | $25,673 |
| 2 | Oracle Corporation | Safra A. Catz | Bachelor’s – Wharton; Lecturer in accounting at Stanford GSB | $138,192,032 | $122,500,250 | 1842:1 | $75,043 |
| 3 | Alphabet Inc. | Sundar Pichai | MBA – Wharton | $225,985,145 | $210,613,728 | 808:1 | $279,802 |
| 4 | American International Group, Inc. | Peter Zaffino | MBA – Stern | $75,314,199 | $60,519,535 | 894:1 | $84,240 |
| 5 | Western Digital Corporation | David V. Goeckeler | MBA – Haas/Columbia | $32,137,338 | $18,068,125 | 3332:1 | $9,644 |
| 6 | American Express Company | Stephen J. Squeri | MBA – Manhattan College | $48,029,631 | $32,793,343 | 972:1 | $49,409 |
| 7 | Netflix, Inc. | Reed Hastings & Ted Sarandos | No | $101,372,533 | $86,644,903 | 464:1 | $218,400 |
| 8 | Ingersoll Rand Inc. | Vicente Reynal | No | $54,505,957 | $39,080,237 | 837:1 | $65,098 |
| 9 | Simon Property Group, Inc. | David Simon | Bachelor’s; MBA – Columbia | $35,667,783 | $21,166,438 | 538:1 | $66,313 |
| 10 | Charter Communications, Inc | Thomas M. Rutledge | No | $39,213,350 | $24,382,217 | 707:1 | $55,429 |
| 11 | Prologis, Inc. | Hamid Moghadam | MBA – Stanford | $48,152,756 | $32,811,350 | 403:1 | $119,453 |
| 12 | Copart, Inc. | A. Jayson Adair & Jeffrey Liaw | Liaw: BBA Texas-Austin; MBA – Harvard … Adair: No | $31,298,740 | $15,453,717 | 751:1 | $41,662 |
| 13 | Broadcom Inc. | Hock E. Tan | MBA – Harvard | $60,606,971 | $44,545,639 | 338:1 | $179,156 |
| 14 | NVR, Inc. | Paul C. Saville | BBA – College of William & Mary; MBA – Pittsburgh | $42,887,000 | $27,506,477 | 600:1 | $71,500 |
| 15 | Equifax Inc. | Mark W. Begor | BS in Finance & Marketing; MBA – Rensselaer Polytechnic | $37,255,853 | $21,977,967 | 347:1 | $107,256 |
| 16 | Paramount Global | Robert M. Bakish | MBA – Columbia | $32,046,006 | $18,290,773 | 291:1 | $110,221 |
| 17 | Caesars Entertainment, Inc. | Thomas R. Reeg | BBA in Finance – Notre Dame | $31,349,920 | $16,480,026 | 865:1 | $36,252 |
| 18 | NIKE, Inc. | John J. Donahoe II | MBA – Stanford | $28,838,060 | $13,860,498 | 771:1 | $37,410 |
| 19 | Walmart Inc. | C. Douglas McMillon | BBA – University of Arkansas; MBA – University of Tulsa | $25,306,714 | $10,018,299 | 933:1 | $27,136 |
| 20 | Micron Technology, Inc. | Sanjay Mehrotra | Stanford GSB Executive Program | $28,840,809 | $14,037,166 | 597:1 | $48,310 |
| 21 | Apple Inc. | Timothy D. Cook | MBA – Duke | $99,420,097 | $83,231,979 | 1177:1 | $84,493 |
| 22 | Marsh & McLennan Companies, Inc. | Daniel S. Glaser | HBS Advanced Management Program | $30,924,436 | $15,410,444 | 454:1 | $68,138 |
| 23 | Estee Lauder Companies Inc. | Fabrizio Freda | Bachelor’s in Economics & Business Administration – University of Naples Federico II | $25,480,056 | $10,506,855 | 872:1 | $29,236 |
| 24 | Bath & Body Works Inc | Sarah E. Nash | No | $22,795,013 | $7,851,648 | 2137:1 | $10,669 |
| 25 | Warner Bros. Discovery, Inc. | David M. Zaslav | No | $39,288,458 | $25,348,760 | 227:1 | $172,735 |
| 26 | Norwegian Cruise Line Holdings Ltd. | Frank J. Del Rio | BS in Accounting – University of Florida | $21,209,333 | $7,261,395 | 866:1 | $24,484 |
| 27 | Lennar Corporation | Richard Beckwitt & Jonathan M. Jaffe | Beckwitt: Unknown … Jaffe: No | $60,480,031 | $44,942,913 | 578:1 | $104,556 |
| 28 | Fidelity National Information Services, Inc. | Gary A. Norcross | BS in Business Administration & Management – University of Arkansas | $45,321,374 | $31,170,441 | 724:1 | $62,591 |
| 29 | NextEra Energy, Inc. | James L. Robo | MBA – Harvard (Baker Scholar) | $40,406,018 | $25,122,359 | 286:1 | $141,446 |
| 30 | IQVIA Holdings Inc. | Ari Bousbib | MBA – Columbia | $30,135,029 | $14,698,024 | 293:1 | $102,805 |
| 31 | Bank of America Corporation | Brian T. Moynihan | No | $30,177,503 | $15,428,227 | 258:1 | $117,040 |
| 32 | TransDigm Group Incorporated | Kevin Stein | No | $21,484,504 | $5,793,195 | 365:1 | $58,837 |
| 33 | Illumina, Inc. | Francis A. deSouza | No | $26,752,197 | $12,492,511 | 205:1 | $130,653 |
| 34 | ServiceNow, Inc. | William R. McDermott | MBA – Kellogg | $38,502,528 | $22,645,470 | 174:1 | $221,433 |
| 35 | Halliburton Company | Jeffrey A. Miller | BS in Agriculture and Business – McNeese State University; MBA – Texas A&M | $23,402,317 | $9,006,161 | 290:1 | $80,638 |
| 36 | Salesforce, Inc. | Marc Benioff & Bret Taylor | Benioff: BSBA in Entrepreneurship – USC … Taylor: No | $53,585,596 | $38,543,495 | 269:1 | $199,130 |
| 37 | Booking Holdings Inc. | Glenn D. Fogel | BS in Economics & Finance – Wharton | $30,774,922 | $15,883,717 | 404:1 | $76,175 |
| 38 | Analog Devices, Inc. | Vincent Roche | No | $22,098,295 | $6,702,777 | 544:1 | $40,596 |
| 39 | Thermo Fisher Scientific Inc. | Marc N. Casper | Bachelor’s in Finance – Wesleyan; MBA – Harvard | $28,208,909 | $12,637,231 | 363:1 | $77,806 |
| 40 | Monolithic Power Systems, Inc. | Michael Hsing | No | $20,664,936 | $4,522,100 | 468:1 | $44,194 |
| 41 | D.R. Horton, Inc. | David V. Auld | BBA in Accounting – Texas Tech | $29,996,862 | $14,212,438 | 259:1 | $116,088 |
| 42 | Hilton Worldwide Holdings Inc | Christopher J. Nassetta | BS in Finance – Virginia McIntire | $23,532,938 | $8,300,522 | 539:1 | $43,702 |
| 43 | Align Technology, Inc. | Joseph M. Hogan | BS in Business and Economics – Geneva College; MBA – Robert Morris | $18,684,044 | $4,036,789 | 1026:1 | $18,215 |
| 44 | Match Group, Inc. | Bernard Kim | No | $23,921,211 | $8,254,994 | 189:1 | $129,000 |
| 45 | Biogen, Inc | Christopher A. Viehbacher | Bachelor’s in Commerce – Queen’s University | $30,488,593 | $15,889,645 | 182:1 | $186,983 |
| 46 | CVS Health Corporation | Karen S. Lynch | Bachelor’s in Accounting – Boston College; MBA – Boston University | $21,317,055 | $6,499,111 | 380:1 | $56,129 |
| 47 | PayPal Holdings, Inc. | Daniel H. Schulman | MBA – NYU Stern | $21,957,922 | $7,543,241 | 284:1 | $77,244 |
| 48 | DuPont de Nemours, Inc. | Edward D. Breen | No | $25,584,297 | $11,110,089 | 294:1 | $86,886 |
| 49 | JPMorgan Chase & Co. | James Dimon | MBA – Harvard (Baker Scholar) | $34,848,606 | $19,793,896 | 393:1 | $88,730 |
| 50 | Monster Beverage Corporation | Rodney C. Sacks & Hilton H. Schlosberg | Sacks: No … Schlosberg: No | $30,811,484 | $15,500,199 | 419:1 | $73,523 |
| 51 | Cadence Design Systems, Inc. | Anirudh Devgan | No | $32,216,034 | $15,728,495 | 292:1 | $110,482 |
| 52 | Exxon Mobil Corporation | Darren W. Woods | MBA – Kellogg | $35,909,231 | $20,894,991 | 210:1 | $171,582 |
| 53 | V.F. Corporation | Steven E. Rendle | No | $15,423,154 | $1,643,400 | 576:1 | $26,784 |
| 54 | Advanced Micro Devices, Inc. | Lisa T. Su | No | $30,219,921 | $13,274,694 | 224:1 | $134,843 |
| 55 | Texas Instruments Incorporated | Richard K. Templeton | No | $21,629,586 | $6,425,743 | 323:1 | $67,144 |
| 56 | Walgreens Boots Alliance Inc | Rosalind G. Brewer | Exec Ed programs at Booth, Stanford, Wharton | $17,287,489 | $3,082,726 | 705:1 | $24,530 |
| 57 | T-Mobile US, Inc. | Michael Sievert | No | $29,060,047 | $13,585,978 | 408:1 | $71,333 |
| 58 | CME Group Inc. | Terrence A. Duffy | No | $22,943,077 | $8,056,266 | 139:1 | $164,792 |
| 59 | Coca-Cola Company | James Quincey | No | $22,822,519 | $7,770,457 | 1883:1 | $12,122 |
| 60 | Ralph Lauren Corporation | Patrice Louvet | MBA – ESCP Europe; MBA – University of Illinois | $18,553,058 | $3,873,929 | 696:1 | $26,670 |
| 61 | Digital Realty Trust, Inc. | A. William Stein | MSIA – Carnegie Mellon Tepper | $23,695,471 | $8,886,497 | 230:1 | $103,040 |
| 62 | PepsiCo, Inc. | Ramon L. Laguarta | MBA – Esade; MiM, International Business – Thunderbird | $28,388,228 | $13,138,113 | 543:1 | $52,315 |
| 63 | Aptiv PLC | Kevin P. Clark | Bachelor’s in Finance and Master’s in Business Administration & Management – Michigan State Broad | $16,206,621 | $1,474,234 | 1991:1 | $8,139 |
| 64 | Cisco Systems, Inc. | Charles H. Robbins | No | $29,283,936 | $14,364,855 | 249:1 | $117,400 |
| 65 | Omnicom Group Inc | John D. Wren | MBA – Adelphi University | $20,679,168 | $5,722,289 | 414:1 | $50,002 |
| 66 | Microsoft Corporation | Satya Nadella | MBA – Chicago Booth | $54,946,310 | $38,982,039 | 289:1 | $190,302 |
| 67 | Global Payments Inc. | Jeffrey S. Sloan | BS in Finance – Wharton | $22,270,578 | $7,736,896 | 385:1 | $57,883 |
| 68 | Equinix, Inc. | Charles Meyers | MBA – Kellogg; MS in Engineering Management – Northwestern | $22,282,928 | $6,999,497 | 183:1 | $121,753 |
| 69 | Skyworks Solutions, Inc. | Liam K. Griffin | MBA – Boston Questrom | $16,667,162 | $1,839,293 | 552:1 | $30,180 |
| 70 | PNC Financial Services Group, Inc. | William S. Demchak | MBA – Michigan Ross | $19,473,490 | $4,757,409 | 276:1 | $70,695 |
| 71 | International Flavors & Fragrances Inc. | Franklin K. Clyburn Jr. | MBA – Arizona State | $19,271,654 | $4,896,662 | 341:1 | $56,582 |
| 72 | Keurig Dr Pepper Inc. | Ozan Dokmecioglu | BBA – Middle East Technical University | $16,663,492 | $1,487,218 | 295:1 | $56,503 |
| 73 | Cognizant Technology Solutions Corporation | Brian Humphries | BBA – University of Ulster | $17,943,894 | $3,438,942 | 571:1 | $31,450 |
| 74 | Meta Platforms, Inc. | Mark Zuckerberg | No | $27,110,418 | $12,116,455 | 91:1 | $296,320 |
| 75 | Accenture plc | Julie Sweet | No | $33,701,108 | $18,398,069 | 1506:1 | $22,381 |
| 76 | Dollar Tree, Inc. | Michael Witynski | BBA – Benedictine University | $13,975,672 | -$1,154,779 | 951:1 | $14,702 |
| 77 | The Boeing Company | David L. Calhoun | Bachelor’s in Accounting – Virginia Tech | $22,480,396 | $8,222,146 | 154:1 | $145,756 |
| 78 | ANSYS, Inc. | Ajei S. Gopal | No | $21,872,498 | $6,620,559 | 187:1 | $116,670 |
| 79 | Adobe Inc. | Shantanu Narayen | MBA – UC-Berkeley Haas | $31,600,311 | $16,288,635 | 185:1 | $170,679 |
| 80 | Molina Healthcare, Inc. | Joseph M. Zubretsky | BBA – University of Hartford | $22,131,256 | $6,341,820 | 293:1 | $75,433 |
| 81 | Cigna Corporation | David M. Cordani | BBA – Texas A&M; MBA – University of Hartford | $20,965,504 | $5,818,210 | 277:1 | $75,627 |
| 82 | Ford Motor Company | James D. Farley Jr. | MBA – UCLA Anderson | $20,996,146 | $5,919,863 | 281:1 | $74,691 |
| 83 | Ameriprise Financial, Inc. | James M. Cracchiolo | BS in Accounting and Economics and MBA – NYU Stern | $22,847,623 | $7,281,909 | 183:1 | $125,033 |
| 84 | Globe Life Inc. | Gary L. Coleman & Larry M. Hutchison | Coleman: BBA – University of Texas-Austin; Hutchison: No | $17,776,636 | $2,841,335 | 283:1 | $62,883 |
| 85 | Fortive Corp. | James A. Lico | Master in Management – Kellogg | $16,611,190 | $1,837,016 | 246:1 | $67,554 |
| 86 | CBRE Group, Inc. | Robert E. Sulentic | MBA – Harvard | $25,912,100 | $10,780,192 | 361:1 | $71,748 |
| 87 | Travelers Companies, Inc. | Alan D. Schnitzer | No | $21,072,397 | $6,022,774 | 194:1 | $108,583 |
| 88 | Abbott Laboratories | Robert B. Ford | MBA – UC-Berkeley Haas | $21,722,152 | $6,457,878 | 214:1 | $101,360 |
| 89 | BlackRock, Inc. | Laurence D. Fink | MBA – UCLA | $32,726,109 | $17,686,333 | 212:1 | $154,312 |
| 90 | Philip Morris International Inc. | Jacek Olczak | No | $15,775,108 | $760,216 | 813:1 | $19,411 |
| 91 | Visa Inc. | Alfred F. Kelly Jr. | MBA – Iona University | $28,103,602 | $12,882,029 | 184:1 | $152,395 |
| 92 | Starbucks Corporation | Kevin Johnson | BBA – New Mexico State | $16,718,154 | $1,302,708 | 1364:1 | $12,254 |
| 93 | AbbVie, Inc. | Richard A. Gonzalez | No | $26,287,185 | $11,136,825 | 224:1 | $117,189 |
| 94 | Comcast Corporation | Brian L. Roberts | Bachelor of Science – Wharton | $32,069,850 | $17,122,558 | 385:1 | $83,399 |
| 95 | Viatris Inc | Michael Goettler | Business degree – WHU Otto Besheim School of Management; MBA – Texas-Austin McCombs | $14,669,592 | $1,036,936 | 398:1 | $36,865 |
| 96 | Carnival Corporation and PLC | Arnold W. Donald | MBA – Chicago Booth | $11,144,435 | -$2,672,044 | 769:1 | $14,496 |
| 97 | Seagate Technology Holdings plc | William D. Mosley | No | $13,210,318 | -$1,680,561 | 1227:1 | $10,763 |
| 98 | Trimble Inc. | Robert G. Painter | BS in Finance – West Virginia University; MBA – Harvard | $16,134,366 | $1,051,436 | 209:1 | $77,178 |
| 99 | Fox Corporation | Lachlan K. Murdoch | No | $21,748,681 | $6,529,177 | 237:1 | $91,803 |
| 100 | Archer-Daniels-Midland Company | Juan R. Luciano | No | $24,749,178 | $9,544,980 | 362:1 | $68,383 |
Source: As You Sow Top 100 Most Overpaid CEOs, 2023. Sources for MBA info: LinkedIn, Wikipedia, various business sites |
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