The highest paid CEOs in Canada had a roaringly successful 2020 while the rest of the country had to rely on government support to get by, according to the Toronto Star.
In 2020, the top 100 highest paid CEOs had their second best year in history in terms of income. These CEOs earned an average of $10.9 million.
"Despite the pandemic being a pretty bad year for most Canadians, particularly on the unemployment front, it wasn’t really that bad for Canada’s richest CEOs," said the report that detailed this research.
This report was released to the public on Tuesday. Meanwhile, during the year of 2020, many Canadians were made unemployed by the lockdown, and many small businesses were not allowed to operate.
The $10.9 million figure was an increase of $95 thousand compared to 2019. Having said this, the highest year on record was 2018 where CEOs made an average of $11.8 million.
Much of this income derives from bonuses, which made up as much as 80 percent of their total income.
"This only happens in bad times," said the report. "When things go badly for the company, CEOs are protected in many cases. When things go well for the company, the sky’s the limit."
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
