"The CEO of clothing retailer The Gap took home $17.2 million in total compensation in 2025 compared to $10,170 for its median worker - a ratio of 1,690-to-1."
"Those companies are some of the 13 that have joined a $4.6 million effort to sink the new tax through a rival measure, Proposition C."
"If passed, the tax measure, Proposition D, would increase the city's existing 'overpaid executive' tax by 800 percent to a maximum of 1.1 percent of gross receipts."
"'There's just something so obscene about the ultra ultra ultra wealthy coming out in force to block something that would be a step towards reducing inequality in one of the most unequal cities,' said Sarah Anderson."
The Overpaid CEO Act aims to address extreme pay disparities in San Francisco by targeting companies with CEO compensation exceeding 100 times that of their median workers. An analysis revealed that several companies, including The Gap and Williams Sonoma, have ratios significantly above this threshold. These firms are funding efforts to oppose the measure through Proposition C. If enacted, Proposition D would increase the existing 'overpaid executive' tax by 800%, affecting around 250 companies with high executive pay relative to worker wages.
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