Future economic instability has people worried right now. Rising inflation, stock prices and numerous other factors are all impacting our wallets, and many are concerned with what’s next on the horizon. While most of us are starting to feel the effects, there are a few among us right now uttering, “Ummm, what recession?” The ASX 100 has just revealed that few (grab your pitchforks), releasing a list of Australia‘s highest-paid chief executives, with the pair behind global buy now, pay later unicorn AfterPay claiming pole position. As a warning, if you’re currently struggling to afford basic needs like fuel or food, we suggest averting your eyes to the ungodly sums of money we are about to discuss.
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Afterpay Founders’ Salary
Co-chief executives and founders of the service Anthony Eisen and Nick Molnar pocketed AUD$264.2 million between them, equating to 2,800 times the average full-time wage. The duo’s gains came in August 2020 after each exercised AUD$1.5 million options, at AUD$1 per option when the share price was nearly AUD$90. Following the booming success of Afterpay’s service during the lockdown, the business partners rose a staggering 82 spots on the list since 2020.
However, the 2020 financial figures don’t show the value of the pair’s wealth. Since the recent AUD$39 billion takeover of the company by US payment giant Square, the company now has more than 16 million customers and 100,000 merchants worldwide. Thus, Molnar’s and Eisen’s fortune has skyrocketed, with their stake in Square roughly worth AUD$2.7 billion.
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The second highest-paid CEO was CSL’s Paul Perreault, earning a cool AUD$58.9 million in the last financial year. The federal government contracted the specialty biotechnology company to produce the AstraZeneca Covid vaccine in Australia at an undisclosed price. Macquarie Group chief executive Shermara Wikramanayake remains Australia’s highest-paid female and person of colour at AUD$14.6 million.
Compared to our country’s elite earners, Australia’s average full-time wage, including overtime and penalty rates, was roughly AUD$94,000 annually in 2021, according to the Australian Bureau of Statistics.
Top 10 Highest-Paid CEOs on ASX100
1. Afterpay (Buy-Now, Pay-Later Service) – AU$264.2 Million
- Anthony Eisen and Nick Molnar
2. CSL (Biotechnology Company) – AU$37.1 Million
- Paul Perreault
3. Goodman Group (Global property Experts in Logistics and Business) – AU$37.1 Million
- Greg Goodman
4. Macquarie Group (Global Financial Services Group) – AU$14.6 Million
- Shemara Wikramanayake
5. Woolworths Group (Retail Brand)– AU$11.7 Million
- Brad Banducci
6. Fortescue Metals Group (Iron Ore Mining) – AU$11.1 Million
- Elizabeth Gaines
7. BHP Group (Mining, Metals and Petroleum Company) – AU$10.4 Million
- Mike Henry
8. Mineral Resources (Iron Ore and Lithium Mining Services) – AU$9.4 Million
- Chris Ellison
9. Ansell (Industrial and Medical Glove Manufacturing) – AU$9.29 Million
- Magnus Nicolin
10. IDP Education (International Student Services) – AU$9.25 Million
- Andrew Barkla
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