The typical S&P 500 CEO is paid about $17.2 million a year, 72% of it in stock, and the CEOs of the best-performing companies earn only a little more than the rest, so a large pay figure says little about the stock. Who earns the most, how much is stock and what the numbers say about returns, from the proxy statements companies file with the SEC.
By the reported figure, Elon Musk of Tesla: $158.4 billion for fiscal 2025, 100% of it in stock and option awards. The next largest were Clayton M. Magouyrk of Oracle ($627.5 million) and George Kurtz of CrowdStrike Holdings ($247.6 million). These are the totals in each company’s summary compensation table, the standard pay table in the proxy statement it files with the SEC before its annual meeting.
A figure in the billions is not a paycheck. Companies report stock and option awards at their grant‑date fair value: the accounting value of the whole award on the day it is granted, even when the shares vest over many years and only if share‑price or business targets are met. A multi‑year grant is booked in the year it is made, so one year’s figure can jump and the next fall back, and what the CEO finally receives can be far higher or lower than the number reported.
| Company | CEO (fiscal year) | Reported pay | In stock and options | 5‑year return |
|---|---|---|---|---|
| Tesla (TSLA) | Elon Musk (2025) | $158.4 billion | 100% | +37.3% |
| Oracle (ORCL) | Clayton M. Magouyrk (2026) | $627.5 million | 99% | +68.0% |
| CrowdStrike Holdings (CRWD) | George Kurtz (2026) | $247.6 million | 98% | +330.8% |
| Palo Alto Networks (PANW) | Nikesh Arora (2025) | $99.7 million | 95% | +397.7% |
| Microsoft (MSFT) | Satya Nadella (2025) | $96.5 million | 87% | +89.2% |
| Intel (INTC) | Lip-Bu Tan (2025) | $93.0 million | 96% | +145.0% |
| Thermo Fisher Scientific (TMO) | Marc N. Casper (2025) | $79.9 million | 92% | +19.6% |
| Apple (AAPL) | Tim (2025) | $74.3 million | 77% | +141.1% |
| Howmet Aerospace (HWM) | John C. Plant (2025) | $70.5 million | 88% | +635.1% |
| Fiserv (FISV) | Michael P. Lyons (2025) | $70.3 million | 79% | −58.4% |
| Omnicom Group (OMC) | John D. Wren (2025) | $69.9 million | 99% | +19.0% |
| TKO Group Holdings (TKO) | Ariel Emanuel (2025) | $67.4 million | 65% | +241.5% |
| UnitedHealth Group (UNH) | Stephen Hemsley (2025) | $60.9 million | 99% | +1.6% |
| Cadence Design Systems (CDNS) | Anirudh Devgan (2025) | $56.7 million | 96% | +118.0% |
| Advanced Micro Devices (AMD) | Lisa T. Su (2025) | $55.2 million | 92% | +494.5% |
| Netflix (NFLX) | Ted Sarandos (2025) | $53.9 million | 77% | +14.0% |
| Cisco Systems (CSCO) | Charles H. Robbins (2025) | $52.8 million | — | +125.6% |
| ServiceNow (NOW) | William R. McDermott (2025) | $51.6 million | 84% | +7.7% |
| Adobe (ADBE) | Shantanu Narayen (2025) | $51.2 million | 89% | −58.3% |
| Salesforce (CRM) | Marc Benioff (2026) | $49.4 million | 77% | −14.1% |
| American Express (AXP) | S.J. Squeri (2025) | $46.2 million | 63% | +92.4% |
| JPMorgan Chase (JPM) | James Dimon (2025) | $43.0 million | — | +128.0% |
| Microchip Technology (MCHP) | Steve Sanghi (2026) | $40.5 million | 95% | +12.4% |
| Lam Research (LRCX) | Timothy M. Archer (2026) | $40.4 million | 83% | +506.1% |
| BlackRock (BLK) | Laurence D. Fink (2025) | $37.7 million | 65% | +40.9% |
The 25 highest reported figures in Exent’s data as of Oct 20, 2026. 5‑year total return to Sep 30, 2026.
The median S&P 500 CEO was paid $17.2 million in the latest year reported, across the 378 companies with a CEO pay figure in Exent’s data as of Oct 20, 2026. The average is $441.2 million, pulled up by the single largest figure; without it the average is $22.3 million. 19 CEOs (5% of the companies) were paid $50 million or more.
The median is the number to quote. Half of the CEOs were paid more and half less, and no single grant can move it much. An average adds every dollar together, so one very large award can lift it far above what almost any CEO received.
Most of it. For the median S&P 500 CEO, 72% of reported pay was stock and option awards, and among the highest figures in the table above the median share was 89%. Salary, cash bonus and other pay make up the rest.
Stock pay ties the CEO to the share price, which is the intent. It also has costs for shareholders: new shares issued to executives and employees dilute existing holders unless the company buys shares back, and the reported value is an estimate made on the grant date. Performance awards that miss their targets may pay nothing; awards granted before a big rise can end up worth many times the reported number.
Pay rises with returns, but only a little. CEOs of the fifth of companies with the best 5-year returns to Sep 30, 2026 (median +306.0%) had median pay of $19.7 million, 28% more than the $15.3 million of CEOs at the worst fifth (median −33.2%). The groups in between do not rise step by step.
Over the same 5 years the S&P 500 (SPY) returned +90.0%. Of the 25 highest-paid CEOs in the first table, 13 ran companies whose stock trailed the index, and 3 ran companies whose stock fell.
Part of the reason is how pay is set. Boards fix most of a year’s package at the start, benchmark it against peer companies of a similar size, and value stock grants on the grant date, so the reported number moves far less than the share price does. Returns show up later, in what the stock awards are finally worth, which this table does not measure. Companies are split into five equal groups by 5‑year total return; the pattern is an association, not proof that pay causes returns or the other way round.
Communication Services: a median of $32.8 million across 12 CEOs, against $14.1 million in Real Estate, the lowest. Sector medians also reflect company size: sectors with more very large companies tend to pay more.
| Sector | CEOs | Median pay |
|---|---|---|
| Communication Services | 12 | $32.8 million |
| Technology | 73 | $22.7 million |
| Consumer Cyclical | 42 | $19.7 million |
| Healthcare | 48 | $19.6 million |
| Financial Services | 36 | $17.5 million |
| Energy | 19 | $16.5 million |
| Industrials | 59 | $16.2 million |
| Consumer Defensive | 30 | $15.2 million |
| Basic Materials | 16 | $14.9 million |
| Utilities | 21 | $14.1 million |
| Real Estate | 22 | $14.1 million |
George Kurtz of CrowdStrike Holdings: reported pay of $247.6 million for fiscal 2026, +603% on the year before. The list covers CEOs paid $10 million or more. Big jumps usually come from a large new stock grant, often a multi‑year award, so the next year’s figure can drop back.
| Company | CEO (fiscal year) | Reported pay | Change on prior year |
|---|---|---|---|
| CrowdStrike Holdings (CRWD) | George Kurtz (2026) | $247.6 million | +603% |
| NRG Energy (NRG) | Lawrence S. Coben (2025) | $21.8 million | +299% |
| TKO Group Holdings (TKO) | Ariel Emanuel (2025) | $67.4 million | +272% |
| Omnicom Group (OMC) | John D. Wren (2025) | $69.9 million | +222% |
| Howmet Aerospace (HWM) | John C. Plant (2025) | $70.5 million | +215% |
| Jabil (JBL) | Michael Dastoor (2025) | $16.1 million | +207% |
| Fiserv (FISV) | Michael P. Lyons (2025) | $70.3 million | +196% |
| Cadence Design Systems (CDNS) | Anirudh Devgan (2025) | $56.7 million | +194% |
| American Electric Power (AEP) | William J. Fehrman (2025) | $36.6 million | +176% |
| Tractor Supply (TSCO) | Harry A. Lawton (2025) | $32.3 million | +174% |
By reported pay, Elon Musk of Tesla: $158.4 billion for fiscal 2025, 100% of it in stock and option awards (Exent data as of Oct 20, 2026). That figure is the grant-date value of stock awards, not cash; the next largest was Clayton M. Magouyrk of Oracle at $627.5 million.
The median S&P 500 CEO was paid $17.2 million in the latest reported year (378 companies, as of Oct 20, 2026). The average is $441.2 million, pulled up by the single largest figure; without it the average is $22.3 million. The median is the better guide to a typical CEO.
Pay rises with returns, but only a little. CEOs of the fifth of companies with the best 5-year returns to Sep 30, 2026 (median +306.0%) had median pay of $19.7 million, 28% more than the $15.3 million of CEOs at the worst fifth (median −33.2%). Returns differed far more than pay did.
Companies report stock and option awards at their grant-date fair value, the accounting value of the whole award on the day it is granted. A multi-year performance grant is booked in full in one year, even if it vests over many years and only when price or business targets are met, so one year’s figure can be far above what the CEO actually receives.
For the median S&P 500 CEO, 72% of reported pay was stock and option awards (proxy data as of Oct 20, 2026). Salary is usually a small part of the total.
Communication Services: a median of $32.8 million across 12 CEOs. Real Estate had the lowest median, $14.1 million (Exent data as of Oct 20, 2026).
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