"For example, CEOs that 60 years ago might have been making four to six times more than what the workers are receiving, the last figure I saw, it's 600 times more than what average workers are receiving," he said."
"Pope Leo went on to cite Tesla's recent announcement that it would pay Musk up to about $1 trillion, making him the first (publicly known) trillionaire in the world. "What does that mean and what's that about? If that is the only thing that has value anymore, then we're in big trouble," Pope Leo said."
"Tesla's board recently approved a performance-based compensation plan for Musk, the company's CEO, that would pay him around $975 billion if he can drive Tesla's revenue up from where to stands today, at about $1 trillion, to $8.5 trillion. Musk would have to achieve various other milestones to get the full payout."
Pope Leo XIV criticized the growing gap between working-class incomes and the earnings of the wealthiest, noting CEO pay ratios have ballooned from roughly four-to-six times to about 600 times average worker pay. He cited Tesla's announcement that could make Elon Musk a publicly known trillionaire and questioned the societal value of such compensation concentrations. Tesla's board approved a performance-based plan that could pay Musk roughly $975 billion if revenue rises from about $1 trillion to $8.5 trillion and additional milestones are met. Brookings fellow Darrell West described US income inequality as out of control and at its worst in a century, while Pope Francis previously warned that global wealth coexists with swelling poverty.
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