Top CEOs have $4.9 million saved for their retirement while many of their workers fight to live off minimum wage.
While people are distracted with arguing over whether fast food workers deserve $15/hr pay, CEO’s keep getting richer. Not only is the average CEO making up to 200x more than the median worker, a new report shows that many CEOs will continue to make more money than the median worker -- even after they are retired.
Let’s take a look at CEO David Novak, for example. Novak is the executive chairman of Yum! Brands, which owns KFC, Taco Bell and Pizza Hut. He also has the largest retirement package of any top executive’s, priced at $234 million. That means that Novak will get a $1.3 million check every month after he retires.
In comparison, many of Yum! Brand’s 537,000 employees can barley afford to save any money for retirement. In the US, only 8,828 even have any money in their 4 401(k) account.
The top 100 executives have $4.9 billion combined in retirement savings. That amount is equivalent to what 41% of American families have saved.
Not surprisingly, David Novak’s company is one of the companies that have fought minimum-wage increases. So instead of arguing that fast-food workers don’t deserve to make $15/hr, consider if these CEOs deserve to make more money than many of us will ever see -- even after they’ve retired.
-Saher K: OTG Team
The views and opinions expressed herein are those of the authors alone and do not necessarily reflect the views of Ora Media, LLC its affiliates, or its employees.
More from Jesse Ventura's Off The Grid
Jesse Ventura: How Bernie Sanders Sold Out
Jesse Ventura remembers his hero, Muhammad Ali
Jesse Ventura: Snowden performed public service & is a hero
Jesse Ventura: Why voters should listen to Gov. Gary Johnson
Jesse Ventura: Clinton will do anything to win, even pick Sanders as VP
Jesse Ventura: Here's one reason why I can’t be president
Is there hope for our economy? Most Americans don’t think so.
Jesse Ventura: I am not running for president