'He has a level as long as he can say - "that's why I can't sit with T20". Luckily he's not just Malaysian.'
Intel Corp Chief Executive Officer (CEO) Pat Gelsinger earns a salary of 1,711 times more than the average salary of workers at the chip-making company based in the United States (US).
More surprisingly, Gelsinger, who was only 11 months with Intel in February last year, overcame the salary of Bob Swan, the former CEO who earned only 217 times more than the average worker in 2020.
Based on the estimates made, Gelsinger earned US$178.6 million in 2021 with an award of 79% of the share of his share.
The payoff includes one-time new-hire equity awards, which are expected to have a target value of $110 million.
This implies that the Intel CEO will earn 698% higher salary than Swan in 2020.
In comparison, Apple Inc CEO Tim Cook earned only 1,447 times the average salary of his employees at the smartphone company in 2021.
Tracing the record, after Gelsinger took over from Swan, he has launched a recovery strategy to regain corporate control in the semiconductor industry which is currently being pursued by Taiwan Semiconductor Manufacturing Co.
As a knowledge enhancer, Gelsinger served as CEO at VMWare Inc before returning to Intel in 2021.
Meanwhile, Intel's stock, which fell nearly 17% in 2020, saw it recover 6.8% the following year after the company triumphed over a manufacturing and competitive crisis.
In addition, earlier this month Intel unveiled the first details of its $88 billion investment plan covering 6 European Union countries including a massive German smelter.
Is this a sign that the throne of a CEO who is famous for the crypto currency 'dog' will be sued? We look forward to it together!
