Paychecks growing fatter for Big Oil execs
Everyone is acutely aware that the price of oil is surging and gas prices break a new record almost daily. Less well-reported — yet completely unsurprising — is that the paychecks of Big Oil CEOs are also reaching new heights, according to a report by Equilar, as reported by MSN Money.
Median S&P 500 CEO compensation: $9.9 million. Big Oil CEO pay range: $15-$21.7 million (!)
Rex Tillerson, CEO of ExxonMobil, raked in an astonishing $21.7 million and is sitting on nearly $78 million of unvested stock options. (Though this is chump change compared to the obscene $500 million golden parachute his predecessor, Lee Raymond, received upon retirement. That is of course also the same amount ExxonMobil will have to pay in punitive damages for the ExxonValdez disaster, thanks to a recent wrongheaded Supreme Court decision.)
David O’Reilly, CEO of Chevron, made $15.7 million and is sitting on $26.3 million in unvested options.
James Mulva of ConocoPhillips made $15 million and has a whopping $234 million in options.