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2023’s CEO rich list: Who’s raking in billions?



In a world where executive compensation continues to make headlines, the year 2023 brings us a fresh update on the top earners in the corporate realm.

The latest data reveals the 20 highest-paid CEOs who are not just breaking the bank but shattering it.

Buckle up as we delve into the riveting world of corporate extravagance and jaw-dropping salaries.

As of 2023, the highest-paid CEOs in the United States are as follows:

1. Stephen Schwarzman (Blackstone) – Schwarzman, the founder of the private equity firm Blackstone, received a total compensation of approximately $253 million in 2022.

2. Sundar Pichai (Alphabet) – Pichai, the CEO of Google’s parent company Alphabet, earned around $226 million in 2022, including significant stock rewards.

3. Stephen Scherr (Hertz) – As the CEO of Hertz, Scherr’s total yearly compensation was about $182 million.

4. Barry McCarthy (Peloton) – McCarthy, who joined Peloton during its struggling phase, was offered compensation of $168 million.

5. Michael Rapino (Live Nation) – The CEO of Live Nation, a global entertainment powerhouse, Rapino’s total compensation in the last fiscal year was $139 million.

6. Safra Catz (Oracle) – The highest-paid female executive at Oracle, Catz’s current compensation is an impressive $138 million.
7. **Douglas Ingram** (Sarepta Therapeutics) – Ingram, the highest-paid pharma executive, received a total compensation of around $125 million.

But amidst the staggering numbers, a burning question arises: Is there a moral dilemma in the world of corporate compensation? As the wealth gap widens, should CEOs be entitled to such colossal paychecks, or is it time for a more equitable distribution? Join us as we unpack this thought-provoking issue.

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AI pushes the Nasdaq to a record-breaking close



The Nasdaq achieved a record-breaking close, surpassing its previous record high of 16,057.44, which was established on November 21, 2021.

Artificial assistance

Artificial intelligence-related technology stocks, such as Nvidia (NVDA.O) and Microsoft (MSFT.O), have greatly boosted the index.

The Nasdaq Composite has increased by almost 7.2% this year.

The tech-focused index surged 43% in 2023, and as chipmakers gained traction and confidence increased that the Fed might achieve a soft landing—that is, curb inflation without inciting a recession—stocks surged strongly by year-end.

In contrast, Nvidia increased by 1.9% on Thursday, bringing its total gain from a year ago to around 250%.

Market boom

Every S&P 500 subs sector saw a gain at the end of the month.

Analysts at Deutsche Bank report that the index has now increased for 16 of the past 18 weeks, matching the record most winning weeks last attained in 1971.

Bitcoin also moved closer to its all-time high.

The price of the virtual currency momentarily surpassed $64,000 as spot bitcoin ETFs helped drive it to heights last seen in 2021.

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Disney sign off on mega merger with India’s largest conglomerate



India’s top conglomerate Reliance Industries and Walt Disney announced the merger of their India TV and streaming media assets, forming an $8.5 billion entertainment juggernaut.

Disney, Reliance sign non-binding agreement for India’s largest media conglomerate

Reliance, led by Asia’s richest man, Mukesh Ambani, will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake, with Disney owning the rest, the companies said in a joint statement.

Mukesh Ambani, Reliance’s multimillionaire CEO

Media rivals

With two streaming platforms and 120 TV channels, the combined company will be a formidable opponent for competitors like Netflix and Sony of Japan in the $28 billion media and entertainment market, which is expected to grow to $100 billion by the end of the decade.

Disney’s lengthy battle to stop users from leaving its collapsing Indian streaming service and the financial burden resulting from billion-dollar payments for Indian cricket rights before the deal, providing yet another illustration of how difficult it can be for Western companies to expand in India.

Ultimate alliance

“The combined entity will create a sports behemoth in India,” stated Jinesh Joshi, an analyst at Prabhudas Lilladher in India.

“This merger will give Reliance great bargaining power when it comes to negotiating advertisement contracts … For Disney, coming together with a bigger player, in terms of (financial) pockets, will give it a cash cushion,” he continued.

According to the corporations, the combined company will serve the approximately 750 million viewers in India as well as the Indian diaspora worldwide.

According to Disney CEO Bog Iger’s statement, “Reliance has a deep understanding of the Indian market and consumer,” and the acquisition will enable “us to better serve consumers with a broad portfolio of digital services, entertainment, and sports.”

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Warner Bros Discovery plans to shutdown popular NZ news network



One of New Zealand’s two free-to-air television networks claimed it will be shutting down all newsroom operations, television news broadcasts and website from June 30, with the loss of up to 200 media jobs.

The once-thriving network, which had been a staple in the New Zealand entertainment industry, is now facing financial turmoil, sending shockwaves through the media landscape.

Warner Bros Discovery, who own the NZ news network, stated the decision comes following further attempts to reduce costs and that meant major changes including the planned shut down of the newsroom.

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