New York, August 15 (RHC)-- A new study finds that corporate CEOs in the United States have seen their income grow exponentially over the past four decades, while ordinary workers’ salaries have largely stagnated.
The Economic Policy Institute found income for top U.S. executives has increased by nearly 1,000% since 1978 — even when adjusted for inflation. A typical worker’s salary increased by less than 12% during the same period. CEOs at the 350 largest U.S. companies have salaries that are 278 times higher than the average worker.
Among the biggest beneficiaries: the Walton family, heirs to the Walmart fortune. Bloomberg reports the family’s combined wealth has reached $191 billion, with the Waltons earning $70,000 per minute, $4 million per hour, or $100 million per day.