This CEO Earned $96 Million For Four Months Of Work In 2024 – Not Tim Cook Or Sundar Pichai

New Delhi: Corporate pay packages in 2024 are making headlines with some executives earning eye-popping sums. While Tim Cook of Apple and Sundar Pichai of Google each took home around 75 million dollars for the year, Starbucks' new CEO, Brian Niccol has grabbed attention for a truly extraordinary compensation.

Niccol’s pay for just four months of work in 2024 nearly reached 100 million dollars which placed him among the highest-paid CEOs in America. Niccol in the year 2024 made 96 million dollars for just four months of work in 2024, as reported by Bloomberg.

Breaking Down Brian Niccol’s $96 Million Pay

A breakdown of Brian Niccol’s salary reveals that nearly 94 per cent of his pay came from stock awards. Most of it tied to performance and some based on a time-based schedule, vesting over three years. Niccol, who started at Starbucks in early September 2024 also received a 5 million dollars sign-on bonus after his first month, according to a company filing.

The January 24 filing further showed that his compensation included more than 143,000 dollars for housing expenses, nearly half of which covered tax-related costs. Further, Niccol had 72,000 dollars for travel between his southern California home and Starbucks’ headquarters in Seattle, along with about 19,000 dollars for personal use of company aircraft, as reported by Bloomberg.//

Brian Niccol Ranks Among Top 20 Highest-Paid CEOs

According to the Bloomberg Pay Index, Brian Niccol is now ranked among the top 20 highest-paid CEOs in the U.S. The report estimates his total annual compensation at approximately 113 million dollars, which includes stock awards given to replace those he lost when leaving his previous role at Chipotle.

Reason Behind Starbucks' Choice of Brian Niccol as CEO

Niccol was appointed CEO of Starbucks following the departure of Laxman Narasimhan whose time at the company ended due to falling sales and challenges like global boycott calls and union movements in the U.S. Niccol, the former CEO of Chipotle, was chosen for his leadership skills and proven ability to turn businesses around.

To help him settle in, Starbucks made special arrangements and allowed him to work remotely which covered housing costs, and provided access to a company jet. In their filing, Starbucks praised Niccol as a "highly sought-after, effective leader with a proven track record," confident that he would drive growth for the company.