"Reflecting on why the world was so polarised, he said one significant factor was the continuously wider gap between the income levels of the working class and the money that the wealthiest receive. CEOs that 60 years ago might have been making four to six times more than what the workers are receiving 600 times more [now], the pontiff said in excerpts of the interview conducted by Elise Ann Allen, a senior correspondent with the Catholic newspaper Crux as part of a forthcoming biography."
"Earlier this month, the board of the electric car maker Tesla said it had proposed a new trillion-dollar pay package for Musk, its chief executive and largest shareholder, if he hit targets set by the company. Outlining the incentive package, which is unprecedented in corporate history, in a stock market update, the company said: Yes, you read that correctly. Musk, who also owns X.com and SpaceX, will have to increase the value of Tesla from just over $1tn now to $8.5tn over 10 years."
"Yesterday [there was] the news that Elon Musk is going to be the first trillionaire in the world. What does that mean and what's that about? If that is the only thing that has value any more, then we're in big trouble."
Income inequality has widened dramatically, with CEO pay now roughly 600 times worker earnings compared with four-to-six times six decades ago. Executive incentive packages have reached unprecedented scales, raising concerns about societal polarization and shifting value priorities. A proposed Tesla pay package would tie massive rewards to aggressive growth targets, requiring an increase in Tesla's value from just over $1tn to $8.5tn over ten years. Elon Musk may become the world's first trillionaire under such proposals. Concentrated wealth and compensation models risk deepening divisions and misaligning perceived sources of economic value.
Read at www.theguardian.com
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