Policy Decisions Bob Iger, the CEO of Disney, was paid $423 million over four years for his services. If the typical Disney worker is paid an annual salary of $25,000, how much higher is the CEO’s annual salary in percentage terms?
To calculate the percentage difference between the CEO's annual salary and the typical Disney worker's annual salary, we first need to determine the CEO's annual salary.
Bob Iger was paid $423 million over four years. To find his annual salary, we divide this total by 4:
$423,000,000 / 4 = $105,750,000
Now we can compare the CEO's annual salary to the typical Disney worker's annual salary:
CEO's annual salary: $105,750,000
Typical worker's annual salary: $25,000
To find the percentage difference, we calculate the difference between the two salaries and then divide by the typical worker's salary and multiply by 100:
($105,750,000 - $25,000) / $25,000 * 100 = 422,900%
Therefore, the CEO's annual salary is 422,900% higher than the typical Disney worker's annual salary.