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Jan 2, 2025 8:18 PM - Connect Newsroom

Canada's 100 Richest CEOs Earn 210 Times More Than Average Worker

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To address income inequality, the report recommends introducing a wealth tax on Canadians earning more than $10 million annually, which could generate $32 billion in government revenue each year.

Canada’s 100 richest CEOs earned 210 times more than the average Canadian worker in 2023, according to a report by the Canadian Centre for Policy Alternatives.

The report states that these top CEOs earned an average of $13.2 million in salary, bonuses, and other compensation in 2023, compared to the average Canadian worker's income of $66,661. This disparity has grown significantly since 1998, when it was 104 times.

2023 marked the third-highest year for CEO pay, with Patrick Dovigi of GFL Environmental leading the list. The report highlights a gender gap, as only three women made it onto the list of top-earning CEOs.

To address income inequality, the report recommends introducing a wealth tax on Canadians earning more than $10 million annually, which could generate $32 billion in government revenue each year.

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