While most rankings of the super-wealthy focus on net worth, it’s hard not to also be curious about how much the not-very-average Joe earns each year. Enter the Canadian Centre for Policy Alternatives, which released its latest list of the country’s 100 highest-paid CEOs earlier this week, based on data collected for 2011. According to the CCPA, the average salary of the top 100 Canadian CEOs was $7.7 million (which, the left-leaning think tank pointed out, means they pocket the average Canadian salary of $45,448 in a little over half a day’s work). However, the five Torontonians who cracked the top 10 make considerably more than the average. We break down local bigwigs’ base salaries and mind-blowing bonuses below.
Rank: 1 Total Compensation, including shares and options: $40,984,820 Base Salary: $67,950 Bonus: $38,102,690 Claim to fame: Despite being Canada’s highest paid exec in 2011, the Magna International founder and self-made billionaire has since moved on. Stronach relinquished his Magna directorship in November to focus on taking over the political landscape in his native Austria.
Rank: 5 Total Compensation, including shares and options: $15,037,835 Base Salary: $700,000 Bonus: $14,000,000 Claim to fame: The founder and CEO of Dundee Corporation received his staggering $14 million bonus after the Bank of Nova Scotia acquired subsidiary DundeeWealth in early 2011. He reportedly gave the entire amount to charity.
Rank: 7 Total Compensation, including shares and options: $14,836,948 Base Salary: $307,106 Bonus: $6,852,034 Claim to fame: The feisty Magna International CEO (and Belinda Stronach’s former hubby) is currently overseeing the company’s efforts to move beyond its past issues with corporate governance.
Rank: 8 Total Compensation, including shares and options: $14,133,703 Base Salary: $1,285,790 Bonus: $12,847,913 Claim to fame: The majority shareholder of Onex isn’t afraid to spend money: he and wife Heather Reisman throw lavish parties in their $16.1 million Rosedale mansion that neighbors have dubbed “Fort Schwartz.” Supporting his scholarship fund, HESEG, and donations to Canadian universities don’t come cheap, either.
Rank: 10 Total Compensation, including shares and options: $12,416,999 Base Salary: $1,285,098 Bonus: $4,310,636 Claim to fame: Marrone abandoned investment banking in 2003 to start up Yamana Gold with just 12 employees. By 2011, he was the highest paid CEO in the gold sector. Not too shabby.
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