A study published last Friday by the Associated Press stated that CEOs at public companies earned, on average, about $9.6 million each in 2011.
In case you're wondering how that compares to the average American, the median pay for a U.S. worker in 2011 was only $39, 300 last year.
The Associated Press has analyzed payouts from 2011 issued to CEOs of public companies to come to these results. The highest paid CEO was David Simon who raked in $137.2 million last year, which is 342 times the $400,000 annual salary of President Obama.
The Associated Press reports:
In fact, if you add the salaries of Obama, Vice President Joe Biden, the Cabinet, the Supreme Court justices, all the members of the Senate and House of Representatives and all 50 governors, it is less than $110 million, so Simon makes well more than government’s top 600 leaders.
Simon’s company, the Simon Property Group, is a commercial real estate group that manages properties licensed to shopping malls, where most workers make minimum wage.