Bill Gates says people get paid too much

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Bill Gates says people get paid too much

Bill Gates is only worth $40 billion this year, according to the latest Forbes report – down $18 billion but once again the world’s richest man.

So perhaps it was somewhat unwise of him to tell folks attending a charity gig in New York yesterday that Wall Street compensation is “often too high”.

According to Bloomberg, Bill Gates said that this is a “tough problem to solve”, questioning whether government initiatives to sert salary caps of $500,000 was counterproductive.

The restriction would be bypassed by giving the executives share options instead.

So what do top execs earn? Intel’s Paul Otellini earns $1,000,000 a year and also collected a bonus of $3,873,300.  Steve Ballmer, the successor to Gates as CEO, has a salary of $665,833 and a bonus of $600,000. Gates himself, chairman of the board, only collects $616,667 and a bonus of $350,000.

Mark Hurd, chairman, president and CEO of Hewlett Packard, picks up $1,437,500 in salary and a bonus of $1,386,000.