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President Trump just gutted the government services your family relies on to give CEOs another $489,000 each.

The average CEO took home a $1.24 million raise last year while working families struggled to make ends meet.

 

Average CEO Pay is Growing and Fueling Economic Inequality

In 2024, CEO pay at S&P 500 companies increased 7% from the previous year—to an average of $18.9 million in total compensation.

The average CEO-to-worker pay ratio was 285-to-1 for S&P 500 Index companies in 2024. The median employee would have had to start working in 1740 to earn what the average CEO received in 2024.

View CEO Pay Data   View Company Pay Ratios

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Tesla’s $1 Trillion Pay Package for Elon Musk

 

Tesla has proposed to give its CEO Elon Musk a record-breaking $1 trillion pay package over the next 10 years40. While Musk must achieve ambitious performance goals for these shares to vest, the overall amount of Musk’s potential compensation is staggering. 

Just how much is $1 trillion? It’s more than the annual total compensation of:

  • The entire military and civilian workforce of the federal government.41
  • All state and local government teachers and educators in the United States.42
  • Ten times more than all motor vehicle manufacturing workers in the United States.43
  • One hundred times more than all other S&P 500 company CEOs combined.44
  • 17 million times more than the median Tesla employee.45

Musk’s unprecedented pay package will increase economic inequality not just by further enriching the world’s wealthiest individual, but will lead to CEO pay inflation as other companies benchmark their CEO’s target pay against Tesla. No wonder many of Tesla’s shareholders have called for a vote against Musk’s outrageous pay package.46


 

ceos-stats


 

S&P 500 Index Company CEO Pay Increased $6.5 Million Over the Past Decade

CEO Pay Increase


 

Trump’s Tax Cuts Will Further Enrich CEOs

By reducing income tax rates for the wealthy, the Republican One Big Beautiful Bill Act disproportionately benefits corporate CEOs. The average CEO of an S&P 500 company will enjoy a $489,118 tax cut—639 times more than the median U.S. worker.


Who Benefits from Reducing Marginal Tax Rates1

 S&P 500 Company CEOsU.S. Median Worker
2024 Average Total Compensation$18,902,953$49,500
Trump Tax Cut$489,118$765

 

Average Income Tax Savings from Trump’s ‘One Big Beautiful Bill Act2

In 2023, commodity prices that companies pay fell by 3% while consumer prices rose 3%, boosting corporate profits and CEO pay.


 

Who Will Pay for Trump’s Tax Cuts for the Wealthy? Working People.

To pay for President Trump’s tax cuts for the wealthy, the Republicans' One Big Beautiful Bill Act will cut health care and food assistance for millions of working people. According to one study, these budget cuts will result in an estimated loss of more than 1 million jobs nationwide.3

The House version of the bill contained a gift to Big Tech companies—a 10-year ban on the ability of states to protect workers from the harms of artificial intelligence (AI). Fortunately, the Senate rejected this dangerous measure by a vote of 99–1 and this outrageous overreach was removed from the bill.

CEOs listed in Executive Paywatch will save a combined $738 million in income tax cuts, thanks to the One Big Beautiful Bill Act. This lost tax revenue could pay for:

  • Medicaid health care for 81,028 working people.4
  • SNAP food assistance for 328,877 working people.5
  • School lunches for 925,508 students.6

 


 

Companies That Are Supporting Trump

Wealthiest CEOs in America

Many of the wealthiest CEOs in America had a front row seat at the inauguration ceremony of Donald Trump on Jan. 20, 2025. They included the Meta CEO Mark Zuckerberg, Amazon Executive Chair Jeff Bezos, Alphabet and Google CEO Sundar Pichai, and Tesla and SpaceX CEO Elon Musk.

Amazon

Amazon

Amazon contributed $1 million to President Trump’s inauguration following a private dinner at Mar-a-Lago between Trump and Jeff Bezos, Amazon’s founder and executive chair.7 Before the 2024 election, Bezos directed The Washington Post’s editorial board to drop its long standing practice of endorsing a presidential candidate—stopping the planned endorsement of Kamala Harris for president.8 After the election, Bezos said that Trump “seems to have a lot of energy around reducing regulation. If I can help do that, I’m going to help him.”9 In January 2025, President Trump dismissed National Labor Relations Board (NLRB) member Gwynne Wilcox, leaving the NLRB with only two of its five seats filled and unable to meet its quorum requirements to process cases.10 As of June 2025, the NLRB had more than 300 open cases involving Amazon.11
Coinbase donated $1 million to President Trump’s inauguration and Coinbase’s CEO Brian Armstrong privately met with Trump after the election to discuss political appointments for his second administration.12 At a bitcoin conference during the election campaign, Trump had pledged that “On day one, I will fire Gary Gensler,” the former chair of the Securities and Exchange Commission (SEC), for Gensler’s efforts to apply the SEC’s investor protection rules to cryptocurrency investments.13 After Trump’s inauguration, the SEC dismissed its lawsuit against Coinbase, which Coinbase’s chief legal officer described as a “complete win” and that “The surrender was the SEC’s—and the SEC’s alone.”14 In March 2025, Armstrong attended Trump’s “crypto summit” at the White House to discuss creating a federal government bitcoin “strategic reserve.”15
Google donated $1 million to President Trump’s inauguration and Sundar Pichai, the CEO of Google and its corporate parent Alphabet, attended Trump’s inauguration in January 2025.16 After Trump’s inauguration, Google eliminated its efforts to promote workforce diversity.17 Google Maps also changed the name of the Gulf of Mexico to the “Gulf of America” for its U.S. users after Trump announced he was changing the name, and Google Calendar removed references to Pride Month, Black History Month, Native American Heritage Month and Hispanic Heritage Month after Trump criticized diversity, equity and inclusion.18 In one of Trump’s first executive orders, he repealed President Biden’s executive order on AI that had created safeguards for the responsible development of AI models.19 The original U.S. House of Representatives version of Trump’s “One Big Beautiful Bill” would have prohibited states from adopting AI rules such as worker protections for 10 years. This provision would have benefited Google and other big technology companies that are developing and rapidly deploying AI—without guardrails in place—while leaving tens of millions of working people unprotected from the harms of AI.20
Meta Platforms, the corporate parent of Facebook, donated $1 million to President Trump’s inauguration and Meta’s Founder, Chair and CEO Mark Zuckerberg dined with Trump at Mar-a-Lago after the election.21 Zuckerberg also attended President Trump’s inauguration in January 2025.22 In the same month, Meta announced that it would end its workforce diversity efforts and its use of fact checkers for social media posts.23 Meta also agreed to pay Trump $25 million to settle a lawsuit after Meta had suspended Trump from Facebook and Instagram after the Jan. 6 attack on the U.S. Capitol.24 In February 2025, the Trump administration fired the Consumer Financial Protection Bureau’s (CFPB’s) director and sought to close the CFPB’s headquarters while downsizing the CFPB’s staff by nearly 90%.25 The CFPB had been investigating whether Facebook improperly used its users’ confidential financial information for advertising purposes.26
Palantir Technologies CEO and co-founder Alex Karp personally donated $1 million to President Trump’s inauguration.27 In 2024, Palantir’s Chairman and co-founder Peter Thiel lobbied for Trump to select Vice President JD Vance as his running mate.28 Since Trump’s election, at least three former Palantir staff have joined DOGE.29 In 2025, Palantir received more than $113 million in federal spending to help implement Trump’s executive order to collect data across government agencies, including a contract to help Immigration and Customs Enforcement track immigrants in real time.30 In May 2025, Palantir also received a $795 million contract modification increase to develop an AI system for the Department of Defense.31 Palantir’s stock price increased 70% during the first five months of 2025, making it the second highest performing company in the S&P 500.32
Tesla CEO Elon Musk personally donated $288 million to President Trump’s re-election campaign in 2024.33 At a rally during Trump’s inauguration, Musk is alleged to have made a hand gesture that many interpreted as a Nazi salute.34 After the election, Musk joined the Trump administration to run the newly created DOGE that was placed in charge of downsizing various government agencies.35 In March 2025, Trump hosted a car show for Tesla on the lawn of the White House where he purchased a new Tesla, explaining, “I hope it does” help Tesla’s stock price.36 After Trump and Musk had a falling out in June 2025, Trump published a social media post saying, “Elon may get more subsidy than any human being in history” because of Tesla’s electric vehicle subsidies and SpaceX’s government contracts, and that “Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!”37

 

 

How S&P 500 Company CEO Pay Breaks Down

Pay TypeAverage Amount
Salary$1,265,452
Bonus$3,918,737
Nonequity Incentives$3,183,079
Restricted Stock$8,968,909
Stock Options$1,087,760
Retirement Plans$1,198,469
All Other$807,623
Total*$18,902,953

  *Sum of pay type averages do not equal the average total compensation.

 

 

Starbucks Had the Highest S&P 500 Company Pay Ratio in 2024

Starbucks

Starbucks had the highest CEO-to-worker pay ratio out of all S&P 500 Index companies in 2024. In that year, Starbucks CEO Brian Niccol received $97,813,843 in annualized total compensation, or 6,666 times more than Starbucks’ median employee received.38 The median Starbucks worker would have had to start working for Starbucks in 4643 BC (during the Stone Age!) just to earn what Starbucks’ CEO earned in 2024 alone.

Starbucks workers are seeking to form a union with Starbucks Workers United to improve their pay and working conditions, showing why the ratio of CEO-to-worker pay is important. A higher pay ratio could be a sign that companies suffer from a winner-take-all philosophy, where executives reap the lion’s share of compensation. A lower pay ratio could indicate the companies that are dedicated to creating high-wage jobs and investing in their employees for the company’s long-term health.

 

 

CEO Pay by Industry

S&P 500 company CEO pay was the highest in the arts, entertainment and recreation sector; those CEOs received more than $35.2 million on average in 2024. This sector also reported the highest pay ratio, where the average CEO-to-worker pay ratio was 1924-to-1 in 2024.

SectorAverage Executive CompensationAverage Median Worker PayAverage Disclosed Pay Ratio
Accommodation and Food Services$19,756,72$78,119380
Administrative and Support and Waste Management and Remediation Services$15,532,893$106,197176
Arts, Entertainment and Recreation$35,159,894$23,9761924
Construction$17,362,555$107,044158
Educational Services$25,545,004$68,015618
Finance and Insurance$19,008,641$110,338202
Health Care and Social Assistance$18,872,136$60,831310
Information$24,188,328$109,767232
Manufacturing$20,530,438$89,848302
Mining$15,100,396$140,464131
Professional Scientific and Technical Services$15,989,494$136,206205
Real Estate Rental and Leasing$26,879,425$114,845218
Retail Trade$12,740,584$36,665516
Transportation and Warehousing$16,331,574$80,280315
Utilities$13,201,917$138,52697
Wholesale Trade$11,660,268$54,586239

 


 

CEO Pay by State

Too many working people across the country are struggling to afford the basics, much less save for college or retirement. Some states serve as stark examples of the incredible gap between CEOs and the hardworking people who make their companies profitable. This map shows how the CEO pay at companies headquartered in each state compares with the pay of the average employee in the state.

 

CEO Pay by State

What Can You Do?

President Trump’s chair of the U.S. Securities and Exchange Commission (SEC) has called for a review of the agency’s executive pay disclosure rules, while corporate trade associations like the National Association of Manufacturers and the HR Policy Association have urged the SEC to reduce these disclosure requirements.39

While the length of executive compensation disclosure by companies has increased over the years, this trend reflects the growing and increasingly complex types of executive pay and perks that companies are providing to their CEOs. Tell the SEC that transparency is key to helping curb executive compensation abuses.

Take Action

 

 

NOTE: For companies with more than one CEO during the year, the highest-paid CEO is included in the database. Pay ratio between CEO pay and median employee pay are displayed as disclosed by each company’s proxy statement. The CEO pay ratio may not equal the displayed CEO’s total compensation due to differing company methodologies in calculating pay ratios.


 Terms and Data Sources | Contact the Press Office

 

  1. AFL-CIO calculation of income tax liability for a married taxpayer before deductions as contained in H.R. 1, the One Big Beautiful Bill Act. Median U.S. worker compensation from the U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2024, data.bls.gov/oes/#/industry/000000.

  2. Carl Davis, et al., “Analysis of Tax Provisions in the Senate Reconciliation Bill: National and State Level Estimates,” Institute on Taxation and Economic Policy, July 2, 2025, Figure 2, itep.org/analysis-of-tax-provisions-in-senate-reconciliation-bill. AFL-CIO calculation for average S&P 500 CEO

  3. Leighton Ku, et al., “How Potential Federal Cuts to Medicaid and SNAP Could Trigger the Loss of a Million-Plus Jobs, Reduced Economic Activity, and Less State Revenue,” The Commonwealth Fund, March 25, 2025, commonwealthfund.org/publications/issue-briefs/2025/mar/how-cuts-medicaid-snap-could-trigger-job-loss-state-revenue

  4. “Medicaid Per Capita Expenditures,” Centers for Medicare & Medicaid Services, accessed on July 1, 2025, medicaid.gov/state-overviews/scorecard/measure/Medicaid-Per-Capita-Expenditures ($738 million/$9,108 median Medicaid per capita).

  5. “Policy Basics: The Supplemental Nutrition Assistance Program (SNAP),” Center on Budget and Policy Priorities, Nov. 25, 2024, cbpp.org/research/food-assistance/the-supplemental-nutrition-assistance-program-snap ($738 million/($187 per month x 12 months)).

  6. “School Meal Statistics,” School Nutrition Association, accessed on July 1, 2025, schoolnutrition.org/about-school-meals/school-meal-statistics ($738 million/$4.43 per day x 180 school days).

  7. “Trump Vance Inaugural Committee, Inc.,” Form 13A Amendment 3 (FEC-1904839), Federal Election Commission, July 18, 2025, docquery.fec.gov/cgi-bin/forms/C00894162/1904839/f132; Marianne LeVine and Meryl Kornfield, “Jeff Bezos and Donald Trump Met for Dinner at Mar-a-Lago, Joined by Elon Musk,” The Washington Post, Dec. 19, 2024, washingtonpost.com/politics/2024/12/19/trump-bezos-musk-dinner.

  8. Manuel Roig-Franzia and Laura Wagner, “The Washington Post Says It Will Not Endorse a Candidate for President,” The Washington Post, Oct. 25, 2024, washingtonpost.com/style/media/2024/10/25/washington-post-endorsement-president.

  9. Annie Palmer, “Jeff Bezos Says He’s Optimistic About Trump, Will Help Administration Reduce Regulation,” CNBC, Dec. 4, 2024, cnbc.com/2024/12/04/jeff-bezos-says-hes-optimistic-about-trump-will-help-with-reducing-regulation.html.

  10. Andrea Hsu, “Trump Fires EEOC and Labor Board Officials, Setting up Legal Fight,” NPR, Jan. 28, 2025, npr.org/2025/01/28/nx-s1-5277103/nlrb-trump-wilcox-abruzzo-democrats-labor.

  11. National Labor Relations Board, “Case Search: Amazon,” accessed on June 30, 2025 (results on file with author), nlrb.gov/search/case/amazon. See also Lynn Rhinehart and Celine McNicholas, “What’s Behind the Corporate Effort to Kneecap the National Labor Relations Board?” Economic Policy Institute, March 7, 2024, epi.org/blog/whats-behind-the-corporate-effort-to-kneecap-the-national-labor-relations-board-spacex-amazon-trader-joes-and-starbucks-are-trying-to-have-the-nlrb-declared-unconstitutional.

  12. “Trump Vance Inaugural Committee, Inc.,” Form 13A Amendment 3 (FEC-1904839), Federal Election Commission, July 18, 2025, docquery.fec.gov/cgi-bin/forms/C00894162/1904839/f132; Brian Schwartz, “Exclusive: Trump to Meet Privately with Coinbase CEO Brian Armstrong,” The Wall Street Journal, Nov. 18, 2024, wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx.

  13. MacKenzie Sigalos, “Here’s What Trump Promised the Crypto Industry Ahead of the Election,” CNBC, Nov. 6, 2024, cnbc.com/2024/11/06/trump-claims-presidential-win-here-is-what-he-promised-the-crypto-industry-ahead-of-the-election.html.

  14. Declan Harty, “Coinbase Says SEC Agrees to Toss Lawsuit, Signaling End of Crypto Battle,” Politico, Feb. 21, 2025, politico.com/news/2025/02/21/coinbase-sec-lawsuit-00205303.

  15. Nandita Bose, Suzanne McGee and Michelle Conlin, “Crypto Leaders Meet at Trump's Summit with Strategic Reserve in Focus,” Reuters, March 7, 2025, reuters.com/technology/crypto-leaders-meet-trumps-summit-strategic-reserve-focus-2025-03-07.

  16. “Trump Vance Inaugural Committee, Inc.,” Form 13A Amendment 3 (FEC-1904839), Federal Election Commission, July 18, 2025, docquery.fec.gov/cgi-bin/forms/C00894162/1904839/f132; Ali Swenson, “Trump, a Populist President, Is Flanked by Tech Billionaires at His Inauguration,” The Associated Press, Jan. 20, 2025, apnews.com/article/trump-inauguration-tech-billionaires-zuckerberg-musk-wealth-0896bfc3f50d941d62cebc3074267ecd.

  17. Miles Kruppa, “Google Kills Diversity Hiring Targets,” The Wall Street Journal, Feb. 5, 2025, wsj.com/tech/google-kills-diversity-hiring-targets-04433d7c.

  18. Miranda Jeyaretnam, “How Google Appears to Be Adapting Its Products to the Trump Presidency,” Time, Feb. 11, 2025, time.com/7218225/google-maps-gulf-of-america-search-impeach-trump-calendar-holidays.

  19. “Removing Barriers to American Leadership in Artificial Intelligence,” Executive Order 14179, Jan. 23, 2025, federalregister.gov/documents/2025/01/31/2025-02172/removing-barriers-to-american-leadership-in-artificial-intelligence; “Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence,” Executive Order 14110, Oct. 30, 2023, federalregister.gov/documents/2023/11/01/2023-24283/safe-secure-and-trustworthy-development-and-use-of-artificial-intelligence.

  20. Amrith Ramkumar, “Senate Votes to Remove Ban on State AI Laws from GOP Megabill,” The Wall Street Journal, July 1, 2025, wsj.com/politics/republican-megabill-ai-state-law-ban-b26bc0ee.

  21. “Trump Vance Inaugural Committee, Inc.,” Form 13A Amendment 3 (FEC-1904839), Federal Election Commission, July 18, 2025, docquery.fec.gov/cgi-bin/forms/C00894162/1904839/f132; Adriana Gomez Licon, “Zuckerberg Dines with Trump in Mar-A-Lago,” The Associated Press, Nov. 27, 2024, apnews.com/article/facebook-trump-zuckerberg-meta-03b409b31deb17ecf3c6d8913e999550.

  22. Ali Swenson, “Trump, a Populist President, Is Flanked by Tech Billionaires at His Inauguration,” The Associated Press, Jan. 20, 2025, apnews.com/article/trump-inauguration-tech-billionaires-zuckerberg-musk-wealth-0896bfc3f50d941d62cebc3074267ecd.

  23. Bruna Horvath, “Everything Meta Has Changed in the Last Week In Its Shift to the Right,” NBC News, Jan. 13, 2025, nbcnews.com/tech/social-media/facebook-instagram-meta-changes-dei-fact-checkers-dana-white-rcna187370.

  24. Annie Linskey and Rebecca Ballhaus, “Meta to Pay $25 Million to Settle 2021 Trump Lawsuit,” The Wall Street Journal, Jan. 29, 2025, wsj.com/us-news/law/trump-signs-agreement-calling-for-meta-to-pay-25-million-to-settle-suit-6f734c8c.

  25. Dylan Tokar, “Federal Judge Orders a Halt to Trump Administration Cuts at CFPB,” The Wall Street Journal, Feb. 14, 2025, wsj.com/finance/regulation/federal-judge-orders-a-halt-to-trump-administration-cuts-at-cfpb-6a4027b8; Chris Megerian, “Nearly 90% of Consumer Financial Protection Bureau Cut as Trump’s Government Downsizing Continues,” The Associated Press, April 17, 2025, apnews.com/article/donald-trump-doge-cfpb-elon-musk-456b747c367fccbcf3b74d2893cd1a35.

  26. Jake Pearson, “Fend for Yourself: Under Trump, Consumer Protection Bureau’s Probes of Big Tech and Finance Firms Freeze Up,” ProPublica, March 26, 2025, propublica.org/article/trump-cfpb-investigation-capital-one-rocket-meta-carvana-greenlight.

  27. “Trump Vance Inaugural Committee, Inc.,” Form 13A Amendment 3 (FEC-1904839), Federal Election Commission, July 18, 2025, docquery.fec.gov/cgi-bin/forms/C00894162/1904839/f132.

  28. Ryan Mac and Theodore Schleifer, “How a Network of Tech Billionaires Helped J.D. Vance Leap Into Power,” The New York Times, July 17, 2024, nytimes.com/2024/07/17/technology/jd-vance-tech-silicon-valley.html.

  29. Sheera Frenkel and Aaron Krolik, “Trump Taps Palantir to Compile Data on Americans,” The New York Times, May 30, 2025, nytimes.com/2025/05/30/technology/trump-palantir-data-americans.html.

  30. Id.

  31. “Contracts for May 21, 2025,” U.S. Department of Defense, May 21, 2025, defense.gov/News/Contracts/Contract/Article/4194643.

  32. Arsheeya Bajwa, “Palantir Defies Tech Gloom as Trump Momentum Powers Stellar Share Gains,” Reuters, June 3, 2025, reuters.com/business/palantir-defies-tech-gloom-trump-momentum-powers-stellar-share-gains-2025-06-03.

  33. Trisha Thadani, Clara Ence Morse and Maeve Reston, “Elon Musk Donated $288 Million in 2024 Election, Final Tally Shows,” The Washington Post, Jan. 31, 2025, washingtonpost.com/politics/2025/01/31/elon-musk-trump-donor-2024-election.

  34. Katrin Bennhold, “What Elon Musk’s Salute Was All About,” The New York Times, Jan. 24, 2025, nytimes.com/2025/01/24/world/europe/elon-musk-roman-salute-nazi.html.

  35. “How Musk Built DOGE: Timeline and Key Takeaways,” The New York Times, Feb. 28, 2025, nytimes.com/2025/02/28/us/politics/musk-doge-timeline-takeaways.html; Tyler Pager, et al., “A Disillusioned Musk, Distanced from Trump, Says He’s Exiting Washington,” The New York Times, May 28, 2025, nytimes.com/2025/05/28/us/politics/elon-musk-trump-doge.html.

  36. David Ingram, “Trump Turns the White House Lawn Into a Tesla Showroom,” NBC News, March 11, 2025, nbcnews.com/tech/elon-musk/trump-musk-tesla-white-house-showroom-buys-car-rcna195905.

  37. Jesse Pound, “Tesla Shares Tumble After Trump Says DOGE Should Look at Elon Musk's Subsidies,” CNBC, July 1, 2025, cnbc.com/2025/07/01/tesla-shares-tumble-after-trump-says-doge-should-look-at-elon-musks-subsidies.html.

  38. Starbucks Corp., 2025 Notice of Shareholders Meeting and Proxy Statement (Form DEF14A), Jan. 24, 2025, sec.gov/Archives/edgar/data/829224/000121390025006516/ea0224926-02.pdf (p. 80). Starbucks annualized Mr. Niccol’s base salary and bonus for calculating his 2024 pay ratio total compensation of $97,813,843 versus Mr. Niccol’s Summary Compensation Table total compensation of $95,801,676.

  39. Speech by SEC Chair Paul Atkins, “Remarks at the Executive Compensation Roundtable,” U.S. Securities and Exchange Commission, June 26, 2025, sec.gov/newsroom/speeches-statements/remarks-atkins-executive-compensation-roundtable-062625; National Association of Manufacturers letter to the SEC, June 25, 2025, sec.gov/comments/4-855/4855-616827-1809754.pdf; HR Policy Association Center on Executive Compensation letter to the SEC, June 20, 2025, sec.gov/comments/4-855/4855-614967-1802734.pdf.

  40. Tesla Inc., 2025 Proxy Statement (Form DEF 14A), Sept. 17, 2025, SEC.gov/ix?doc=/Archives/edgar/data/0001318605/000110465925090866/tm252289-12_def14a.htm, at p. 70.
  41. Bureau of Economic Analysis, “Table 6.2D. Compensation of Employees by Industry: Motor Vehicles, Bodies and Trailers, and Parts,” Sept. 26, 2025, apps.bea.gov/iTable/?reqid=19&step=2&isuri=1&1921=survey&_gl=1*1s0dubh*_ga*OTEwODA2NDgzLjE3NTk3ODUyMDY.*_ga_J4698JNNFT*czE3NTk3ODUyMDUkbzEkZzEkdDE3NTk3ODU4MTQkajExJGwwJGgw#eyJhcHBpZCI6MTksInN0ZXBzIjpbMSwyLDNdLCJkYXRhIjpbWyJDYXRlZ29yaWVzIiwiU3VydmV5Il0sWyJOSVBBX1RhYmxlX0xpc3QiLCIxODUiXV19, at line 87.
  42. Id. at line 94.
  43. Id. at line 22.
  44. AFL-CIO analysis of S&P 500 company CEO total compensation for 2024.
  45. Tesla Inc., 2025 Proxy Statement (Form DEF 14A), Sept. 17, 2025, SEC.gov/ix?doc=/Archives/edgar/data/0001318605/000110465925090866/tm252289-12_def14a.htm at p. 139.

  46. SOC Investment Group et. al., Letter to Tesla Shareholders, Oct. 2, 2025, SEC.gov/Archives/edgar/data/1318605/000121465925014515/o102255px14a6g.htm.