I can’t ignore today’s Forbes ranking, "The 25 Highest-Paid Company Executives." I recorded a video about it because it’s absolutely infuriating: among the top five people with the highest salaries, four are heads of state-owned companies.
There it is, the most generous shareholder of all — the state. And here they are, the “best managers” — Kostin, Sechin, Miller.
You might be able to accept salaries of this size — 2–3 million rubles a day (roughly $20,000–$30,000 per day) — if they were actually being paid extra for failure.
And I want to stress one more thing: stop repeating phrases like “Rosneft will pay Sechin” or “Gazprom will reward Miller.” That’s not how this actually works. In reality, it is the Russian government that decides on these absurd salaries. Bureaucrats. And Putin is the chief bureaucrat.
State representatives sit on these companies’ boards of directors. They do not vote as they please; they vote according to government directives. If the government did not issue directives saying, “On the matter of paying Kostin compensation of $12 million, vote ‘for,’” then these gigantic salaries would not exist.
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