There are many ways to approach income and wealth disparities in the U.S. Here’s one that isn’t considered often enough. From Bloomberg Business (that wild and crazy socialist publication):
The retirement savings accumulated by just 100 chief executives are equal to the entire retirement accounts of 41 percent of U.S. families — or more than 116 million people, a new study finds.
In a report scheduled for release today, the Center for Effective Government and Institute for Policy Studies found that the 100 largest chief executive retirement funds are worth an average of about $49.3 million per executive, or a combined $4.9 billion. David C. Novak, the recently departed chief executive officer of Yum! Brands Inc., is at the top of the list, with total retirement savings of $234.2 million.
In recent years, pay and income inequality across different income groups have received increasing attention in the U.S. Significantly less attention has been focused on the growing gulf in retirement savings, a lack of focus that the study’s authors say they are attempting to address.
The complete article, “Top 100 CEO Retirement Savings Equals 41% of U.S Families,” can be found here.
And here’s a little CEO spare change if you get depressed after reading the article:
UP@NIGHT 