Interestingly, the five highest paid CEOs (Chief Executive Officer) in the world are all from the United States, and they all head businesses in the same country.
Being the chairman of an enterprise is a challenging and demanding task, which is usually associated with a high salary. But even among CEOs, there are huge differences in annual compensation schemes.
Here are the five highest paid CEOs in the world according to the latest Forbes ranking:
5. David Cote: Honeywell
63-year-old David Cote is the CEO of Honeywell, a large American conglomerate. He presently earns a staggering $55.8 million per year. Before joining Honeywell, he worked with General Electric and TRW.
4. Richard Kinder: Kinder Morgan Energy Partners
Born in 1944, Richard Kinder is the Chairman and CEO of Kinder Morgan Energy Partners, the fourth largest energy company in North America. He is presently worth $8.2 billion and earns an annual compensation of $60.9 million. Before starting Kinder Morgan with his friend William Morgan in 1996, he was the president of Enron Corporation.
3. Michael Fascitelli: Vornado Realty
A graduate of the University of Rhode Island, 58-year old Michael Fascitelli took over as CEO of Vornado Realty from billionaire Steven Roth in 2011. He is one of the world's highest paid CEOs, with a one-year total compensation of $64.4 million.
2. Ralph Lauren: Ralph Lauren Corp.
Born Ralph Lifshitz in 1939, the American billionaire fashion designer and entrepreneur is famous worldwide for his fashion design collections. With a net worth of $7.5 billion and a salary of $67m, he is the second highest-paid CEO of the year.
1. John Hammergren: McKesson
John Hammergen, 56, has been the CEO of California medical supply firm, McKesson since 2001. According to Forbes, he is presently the highest paid CEO in the world with total remuneration in excess of $130 million, mostly in stock options.