Salaries Of Entrepreneurs

Entrepreneurs are considered one of the vital segments in society, and they are the focus of attention of community members, experts and researchers.in the accelerating business world, which requires innovation and leadership an exceptional effort, there is a need to develop fair and transparent mechanisms to determine appropriate compensation for entrepreneurs, as entrepreneurs represent a significant investment of time and effort.

The issue of entrepreneurs ‘ salaries is at the forefront of the contemporary economic scene, and the salaries of entrepreneurs vary greatly from one facility to another, and even among entrepreneurs working in the same sector, and the importance of compensating entrepreneurs for their work enables determining a salary for them, to achieve financial and psychological balance, as continuous work without compensation may lead to fatigue and frustration, which hinders the ability of an entrepreneur to make the right decisions and business development, so the salaries of entrepreneurs reflect the value of their time and effort, and contribute to creating a more sustainable work environment and growth, and the omission of this point negatively affects the accuracy of the company’s financial calculations, so that it obscures a clear picture of the health of the facility and its efficiency.

The announced annual salaries are radically different from the series of bonuses, compensation, incentives and benefits that managers receive.the amount of 56 billion dollars announced on Elon Musk’s earnings is not the actual annual salary earned by Musk or other of the richest executives in the world such as Bernard Arnault, CEO of the LVMH Group, Mark Zuckerberg, CEO of meta, Warren Buffett CEO of Berkshire Hathaway or other billionaires holding senior leadership positions in their companies. Bernard Arnault, according to the announced figures, received an annual salary of only 8.01 million euros, Warren Buffett, CEO of Berkshire Hathaway, occupies an equally low place on the salary scale of company heads, as he received a fixed salary of 100 thousand dollars a year for more than 35 years, Elon Musk, his salary for 2023 as CEO of Tesla was listed as zero dollars, and Mark Zuckerberg’s salary as CEO of meta in 2023 amounted to a total of one dollar, as reported by the platform “prestige”.

According to a report issued by the Economic Policy Institute for 2022, the declared annual salary of CEOs has increased by 1460% since 1978, and the growth of CEO salaries exceeded the growth of the stock market in the “Standard & Poor’s” index, which grew by 1063% during the same time period.

According to another study conducted by the company “Equilar”, which provides information on the compensation received by CEOs in the world for 2023, the compensation chain of 500 CEOs in the world decreased by 1.3%, however, the same study, as well, saw an increase in average salaries, shares and other perks by 7.6%.

A monitoring conducted by Mal newspaper revealed that about 875 presidents and senior executives of companies listed on the Saudi stock market “Tadawul”, in 2023, received about 2.8 billion riyals of salaries, bonuses, allowances, end-of-Service, shares and others, in contrast, the members of the boards of Directors of listed companies during the same period received 567 million riyals, and these are more than 1,500 board members.

Aramco topped the top and got the first place, the total amounts reached 116.9 million riyals, obtained by Amin bin Hassan Al Nasser and 5 other senior executives, the second place was taken by the National Bank of Saudi Arabia worth 83.4 million riyals, obtained by Talal Ahmed Al khariji and 5 others, and the third place was taken by Xtra company, with a total value of 73.8 million riyals, obtained by Mohammed Jalal Ali Fahmy and 5 others.

Saudi Telecom won the fourth place, with a total value of 68.1 million obtained by Alyan bin Mohammed bin Hamad, Ted and 4 others, while the fifth place was shared by Al Rajhi Bank with a value of 53.3 million riyals, obtained by Walid bin Abdullah Al-muqabel and 4 other senior executives, followed by Arab National Bank in the sixth place with 51.1 million riyals obtained by Obaid Abdullah Rashid and 5 senior executives.

The seventh place was taken by Riyad Bank with a value of 50.8 million riyals, obtained by Tariq Abdul Rahman Saleh Sadhan and 5 other senior executives, and the eighth place was crowned by the Saudi Electricity Company with a value of 50.7 million riyals, obtained by Khalid bin Hamad Al-qunun and 4 others, Bupa company got the ninth place, with a value of 47.8 million riyals, obtained by Talal Hisham Nazer and others not specified by the company, and the tenth place was won by Bank Albilad with a value of 47.6 million riyals, obtained by Abdul Aziz Mohammed Al-Anizan and 6 senior executives.The seventh place was taken by Riyad Bank with a value of 50.8 million riyals, obtained by Tarek Abdul Rahman Saleh Al-Sadhan and 5 other senior executives, culminating in the eighth place Saudi Electricity Company with a value of 50.7 million riyals obtained by Khalid bin Hamad Al-qunun and 4 others, Bupa company got the ninth place, with a value of 47.8 million riyals obtained by Talal Hisham Nazer and others not specified by the company, and the tenth place was won by Bank Albilad with a value of 47.6 million riyals, obtained by Abdul Aziz Mohammed Al-Anizan and 6 senior executives.