Inside Wealth

The 10 Highest Paid CEOs

The Biggest CEO Paychecks

Recession, Dodd-Frank rules, and criticism from their own shareholders may have slowed the growth of corporate pay in recent years, but according to initial reports on 2011 compensation, America's chief executives are hardly going wanting. The ten highest-paid CEOs were paid an average of nearly $90 million dollars, when all of an executive’s compensation is considered. The compensation figures listed represent total calculated compensation (TCC), which includes salary, bonuses, estimated stock
Photo: Stella | Getty Images

Recession, Dodd-Frank rules, and criticism from their own shareholders may have slowed the growth of corporate pay in recent years, but according to initial reports on 2011 compensation, the chief executives of publicly traded companies are hardly going wanting.

The 10 highest-paid CEOs were paid an average of nearly $90 million dollars, when all of an executive’s compensation is considered. The compensation figures listed represent total calculated compensation (TCC), which includes salary, bonuses, estimated stock and stock option awards as well as other incentives. Note that the salary breakdown in this report displays only major sources of compensation, whereas other incentives, such as increases in retirement or pension funds, are not displayed. The information represented here is according to data from Capital IQ and analyzed by the CNBC Analytics Team.

So, who were the highest paid CEOs of the year? Read ahead to see who made the most in 2011.

By Paul O'Donnell, Giovanny Moreano & Paul Toscano
Posted 12 April 2012

10. Rupert Murdoch, News Corp (NWSA)

Total calculated compensation: $33.2 million 2011 stock performance: +22.5% Change in revenue from 2010: +1.9% Change in net income from 2010: +7.9% Murdoch's annus horribilis in the courts, Parliament and the press didn't dent his compensation or the company’s overall performance, compared to 2010. News Corp. registered a 7.9% rise in profits over last year, earning Murdoch a baronial 46.5% raise in compensation, with a $12.5 million bonus to go with his $8.1 million salary alongside $8.5 milli
Photo: Getty Images

Total calculated compensation: $33.2 million
2011 stock performance: +22.5%
Change in revenue from 2010: +1.9%
Change in net income from 2010: +7.9%

Murdoch's annus horribilis in the courts, Parliament and the press didn't dent his compensation or the company’s overall performance, compared to 2010. News Corp. registered a 7.9 percent rise in profits over last year, earning Murdoch a baronial 46.5 percent raise in compensation, with a $12.5 million bonus to go with his $8.1 million salary alongside $8.5 million in restricted stock.

9. Robert Iger, Walt Disney (DIS)

Total calculated compensation: $33.4 million 2011 stock performance: -0.03%Change in revenue from 2010: +7.4% Change in net income from 2010: +21.3% Despite a virtually flat stock performance, Iger’s 2011 total compensation was a 12.9% increase from 2010. But even with his $15.5 million bonus and nearly $13 million in stock and options to go with his base salary of $2 million, his total compensation amounts to less than 20 percent of what the company is expected to lose on "John Carter."
Photo: Bloomberg via Getty Images

Total calculated compensation: $33.4 million
2011 stock performance: -0.03%
Change in revenue from 2010: +7.4%
Change in net income from 2010: +21.3%

Despite a virtually flat stock performance, Iger’s 2011 total compensation was a 12.9% increase from 2010. But even with his $15.5 million bonus and nearly $13 million in stock and options to go with his base salary of $2 million, his total compensation amounts to less than 20 percent of what the company is expected to lose on "John Carter."

8. David Cote, Honeywell International (HON)

David Cote, Honeywell International Chairman and CEO.
Dibyangshu Sarkar | AFP | Getty Images

Total calculated compensation: $35.8 million
2011 stock performance: +2.2%
Change in revenue from 2010: +12.9%
Change in net income from 2010: +2.2%

In 2011, Cote celebrated his tenth year as CEO with an 87.8% raise, including cash compensation of $25.5 million, a grant of $9.8 million in options and the rest covered by a non-equity incentive plan.

7. Philippe Dauman, Viacom (VIAB)

Total calculated compensation: $43.1 million 2011 stock performance: +14.6% Change in revenue from 2010: +19.8% Change in net income from 2010: +87.6% Dauman was the second-highest-paid entertainment executive in the past year, with $20 million in bonus and $13.3 million in stock to go with a base salary of $3.5 million. Not bad, but bear in mind his 2011 haul is dwarfed by the $84 million he got the previous year, a drop of 49%.
Photo: Bloomberg via Getty Images

Total calculated compensation: $43.1 million
2011 stock performance: +14.6%
Change in revenue from 2010: +19.8%
Change in net income from 2010: +87.6%

Dauman was the second-highest-paid entertainment executive in the past year, with $20 million in bonus and $13.3 million in stock to go with a base salary of $3.5 million. Not bad, but bear in mind his 2011 haul is dwarfed by the $84 million he got the previous year, a drop of 49 percent.

6. John Hammergren, McKesson (MCK)

Total calculated compensation: $46.1 million 2011 stock performance: +10.7% Change in revenue from 2010: +3.1% Change in net income from 2010: -4.8% The medical supply company has paid Hammergren an average of $38 million per year for the 13 years he’s been chief, and although his 2011 compensation is higher than his average over the years, it has dropped by 15.5% from 2010. His compensation package includes $12.5 million in cash, $7.37 million in options and $12.19 in restricted stock.
Photo: Bloomberg via Getty Images

Total calculated compensation: $46.1 million
2011 stock performance: +10.7%
Change in revenue from 2010: +3.1%
Change in net income from 2010: -4.8%

The medical supply company has paid Hammergren an average of $38 million per year for the 13 years he’s been chief, and although his 2011 compensation is higher than his average over the years, it has dropped by 15.5 percent from 2010. His compensation package includes $12.5 million in cash, $7.37 million in options and $12.19 in restricted stock.

5. David Zaslav, Discovery Comm. (DISCA)

Total calculated compensation: $52.4 million 2011 stock performance: -1.8% Change in revenue from 2010: 12.2% Change in net income from 2010: 73.4% His joint venture with Oprah Winfrey on her Oprah Winfrey Network is proving tricky but overall Discovery’s revenue jumped over 12 percent in 2011, earning Zasav a vote of approval that includes over $44 million in stock and options, along with approximately $8.23 million in cash compensation.
Photo: Frederick M. Brown | Getty Images

Total calculated compensation: $52.4 million
2011 stock performance: -1.8%
Change in revenue from 2010: 12.2%
Change in net income from 2010: 73.4%

His joint venture with Oprah Winfrey on her Oprah Winfrey Network is proving tricky, but overall Discovery’s revenue jumped more than 12 percent in 2011, earning Zasav a vote of approval that includes over $44 million in stock and options, along with approximately $8.23 million in cash compensation.

4. Ronald B. Johnson, J.C. Penney (JCP)

Total calculated compensation: $53.2 million 2011 stock performance: 8.8% Change in revenue from 2010: +1.2% Change in net income from 2010: +55% JC Penney's lured its new CEO with $52.6 million in stock to compensate for unvested shares he forfeited by leaving his last post as Apple's head of retail strategy. In addition to his new stock position, Johnson was paid $624,577 in cash, along with $236,302 in other compensation. Johnson has been CEO of the company since November 2011.
Photo: Astrid Stawiarz | Getty Images

Total calculated compensation: $53.2 million
2011 stock performance: 8.8%
Change in revenue from 2010: +1.2%
Change in net income from 2010: +55%

JC Penney lured its new CEO with $52.6 million in stock to compensate for unvested shares he forfeited by leaving his last post as Apple's head of retail strategy. In addition to his new stock position, Johnson was paid $624,577 in cash, along with $236,302 in other compensation. Johnson has been CEO of the company since November 2011.

3. Larry Ellison, Oracle (ORCL)

Total calculated compensation: $77.5 million 2011 stock performance: -18.1% Change in revenue from 2010: +32.8% Change in net income from 2010: +39.3% As a symbolic move Ellison has maintained a base salary of $1 since 2010, although in the past year he took home a $14.8 million in cash bonuses and approximately $62.6 million in options. However, in 2011 Oracle’s shareholders weren’t as lucky, seeing an 18% drop in the company’s stock price, although it has rebounded marginally this year. Compar
Photo: Justin Sullivan | Getty Images

Total calculated compensation: $77.5 million
2011 stock performance: -18.1%
Change in revenue from 2010: +32.8%
Change in net income from 2010: +39.3%

As a symbolic move Ellison has maintained a base salary of $1 since 2010, although in the past year he took home $14.8 million in cash bonuses and approximately $62.6 million in options. However, in 2011 Oracle’s shareholders weren’t as lucky; they saw an 18 percent drop in the company’s stock price, although it has rebounded marginally this year. Compared to last year, Ellison’s total calculated compensation is up 10.6 percent, according to Capital IQ.

2. David Simon, Simon Property Group (SPG)

Total calculated compensation: $137.17 million 2011 stock performance: +29.6% Change in revenue from 2010: +8.8% Change in net income from 2010: +66.1% The mall builder just gave Simon a new eight-year deal that includes a $131 million swath of restricted stock. The full amount doesn’t vest until the end of the contract, but since Simon is the son of group’s founder Melvin Simon, and has his name on the door, he’ll likely be staying. Simon also received approximately $5.23 million in cash compen
Photo: Bloomberg via Getty Images

Total calculated compensation: $137.17 million
2011 stock performance: +29.6%
Change in revenue from 2010: +8.8%
Change in net income from 2010: +66.1%

The mall builder just gave Simon a new, eight-year deal that includes a $131 million swath of restricted stock. The full amount doesn’t vest until the end of the contract, but since Simon is the son of the group’s founder, Melvin Simon, and has his name on the door, he’ll likely be staying. Simon also received approximately $5.23 million in cash compensation and an options award of $4 million as a bonus.

1. Timothy Cook, Apple (AAPL)

Total calculated compensation: $377.99 million 2011 stock performance: +25.6% Change in revenue from 2010: +66% Change in net income from 2010: +85% The $376 million worth of Apple stock Cook got after being named CEO in August propelled him to the top of the list. Since all of that won't vest until he stays for 10 years, his total cash compensation of $1.8 million may be the more relevant number for the Cook household right now. For Apple investors, the most interesting figure is the 60 percent
Photo: Kevork Djansezian | Getty Images

Total calculated compensation: $377.99 million
2011 stock performance: +25.6%
Change in revenue from 2010: +66%
Change in net income from 2010: +85%

The $376 million worth of Apple stock Cook got after being named CEO in August propelled him to the top of the list. Since all of that won't vest until he puts in his 10 years, his total cash compensation of $1.8 million, may be the more relevant number for the Cook household right now. For Apple investors, the most interesting figure is the 60 percent increase in stock price since Cook became CEO, including several hundred points added since January 2012.