The union federation said Musk’s $158 billion Tesla award lifted average S&P 500 CEO pay to $22.8 million and the pay ratio to 5,387-to-1.
On Thursday, the American Federation of Labor and Congress of Industrial Organizations reported that S&P 500 CEO compensation surged 21% to $22.8 million in 2025, excluding Tesla CEO Elon Musk.
Musk's compensation package, potentially worth $1 trillion, now serves as a 'reference' for other corporate boards, driving mega-pay plans across the S&P 500, labor officials said.
Including the Tesla CEO's deal, average S&P 500 CEO compensation topped $340 million, while the CEO-to-worker pay ratio reached 5,387 to 1, according to the AFL-CIO's Paywatch study.
AFL-CIO Secretary-Treasurer Fred Redmond said union members feel "pissed off over what's happening to them," highlighting rising inequality concerns among workers.
While advisory "say on pay" votes receive 90.6% support, consulting firm Semler Brossy found that special one-off awards remain a "hot-button issue" facing greater shareholder scrutiny.