Comment on Amazon laid off 30,000 workers while CEO Andy Jassy got a 30% pay bump
otterpop@lemmy.world 1 week agoThe ultra wealthy keep their salaries low so they can avoid paying taxes. They also use this as a form of white washing their reputation that people who don’t understand how money works will buy.
There are actually special structures that aren’t even available to most people for ultra high earners called non qualified deferred compensation plans that help them avoid taxes even harder than most ordinary people can.
They do everything they can to pay as little in taxes as they can while they hoard up as much wealth as they can.
Amazon’s philosophy is that higher-ups get paid in mostly stock and their salaries are capped at pretty much what Andy’s salary is. Idea is that if you make ~300k in salary, but your stock can be worth anything from 40 to 500 million in 4 years when it vests, you’re probably motivated to work extra hard to make the company worth more.
Stock grants outweigh salaries by 3x in senior software dev roles already, the executives make roughly the same salary, but more stock.
Right, but from what “AI” told me (which to be fair could be total bullshit), he did have a large income of about $200M, but opted for a more stable salary of around the sum I mentioned, but still had about $40M of income via stocks I guess. But that’s still very much lower than what he earned just before he started as CEO.
Is there some way he’s still earning more now than before?
birdwing@lemmy.blahaj.zone 1 week ago
The more I hear about billionnaires the more I think the anarchist communists were right.