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Study: CEOs earn 614 times more than workers at 100 low‑pay firms

financeAug 27, 2026385,422

The Institute for Policy Studies found that in 2025 the average CEO at the 100 S&P 500 corporations with the lowest median worker pay received $17.5 million, 614 times the firms’ median worker pay of $36,571. Between 2019 and 2025 CEO compensation at those companies rose 41.4 percent, unadjusted for inflation, while median worker pay at the same firms rose 20.7 percent and inflation rose 25.9 percent. The CEO-to-worker pay ratio among the low-wage 100 increased 8.4 percent between 2019 and 2025. The report says these firms spent $108.6 billion on stock buybacks in 2025 and $718 billion on buybacks from 2019 through 2025, with Walmart alone repurchasing $8.1 billion in 2025. The analysis links the wealth of at least 36 billionaires to these companies, naming Walmart’s eight Walton family members, Amazon’s Jeff Bezos and Mackenzie Scott, and Carvana co-founders Ernie Garcia II and Ernie Garcia III. The report notes the low-wage 100 employ 1,282 registered federal lobbyists and that many did not denounce aggressive immigration enforcement affecting their workforce. Sarah Anderson, lead author and director of the Global Economy Project at the Institute for Policy Studies, said the gap shows CEOs are living on a remote economic planet from their employees. The report proposes policy responses including a corporate tax on firms whose CEOs earn more than 50 times their median worker, higher taxes on stock buybacks, and conditioning government contracts and subsidies on buyback restrictions.

Robert Reich
@rbreich.bsky.social

At the 100 lowest-paying major corporations — including Walmart, DoorDash, and Amazon — CEO pay averaged $17.5M in 2025. Median worker pay was just $36,571, a ratio of 614 to 1. Those same 100 companies spent $108.6B on stock buybacks last year. How can anyone defend this?

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