Who is the UK’s highest-paid boss?

Who is the highest-paid UK boss? Find out the company executives who are taking home the biggest paycheques in the country.

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

One million celebration illustration.

Image source: Getty Images

When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in.

Read More

The content of this article is provided for information purposes only and is not intended to be, nor does it constitute, any form of personal advice. Investments in a currency other than sterling are exposed to currency exchange risk. Currency exchange rates are constantly changing, which may affect the value of the investment in sterling terms. You could lose money in sterling even if the stock price rises in the currency of origin. Stocks listed on overseas exchanges may be subject to additional dealing and exchange rate charges, and may have other tax implications, and may not provide the same, or any, regulatory protection as in the UK.

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More.

The average UK worker would have to work for more than 40 years to earn what the highest-paid UK boss can earn in a single day.

This astounding fact comes from recent reports revealing that the highest-paid boss in the UK earned a whopping £421 million last year, which equates to £1.2 million every day.

So who are the UK bosses that are raking it in? Let’s investigate.

[top_pitch]

Who is the highest-paid boss in the UK?

That would be Denise Coates, the joint CEO of gambling firm Bet365.

Ms Coates, who’s also the founder and majority shareholder of Bet365, earned a salary of £421 million in the fiscal year that ended on 29 March. When you factor in the £48 million that she earned in dividends, her total salary comes to £469 million.

This is more than the bosses of every FTSE 100 company combined, according to the latest report by think tank the High Pay Centre. The report shows the median chief executive pay across almost all of the FTSE 100 was £3.61 million.

Coates’ salary is also thought to be the highest financial reward package ever offered to a UK company executive in history.

After earning such a huge amount, it’s no surprise that Coates is also the UK’s top taxpayer, according to the Sunday Times tax list. For the 2019-2020 year, Coates and her company had to fork out more than £573 million to the taxman.

Who are the other high-paid bosses in the UK?

Hedge fund manager, Sir Chris Hohn, is second on the list of highest-paid UK bosses.

Hohn is the owner of TCI Fund Management (UK) Limited. This is the company that runs the TCI Fund and which holds total shareholder funds of £1.94 billion.

The tycoon, whose personal fortune is estimated by Forbes to be £4.3 billion, reportedly paid himself £343 million last year after the TCI Fund soared 66% in pre-tax profits to £499 million.

The other person in the list of highest-paid UK bosses, who also happens to be the highest-paid boss in the FTSE 100 is Tim Steiner, the CEO of online shopping giant, Ocado.

Steiner received a compensation package worth nearly £59 million in 2019, according to the High Pay Centre. That’s seven times lower than that of Hohn.

Steiner is followed by Pascal Soriot, CEO of AstraZeneca, the large pharmaceutical company at the forefront of the fight against Covid-19, who earned £14.5 million.

Here’s the full list of highest-earning FTSE 100 CEOs in 2019 and the amount each earned.

Chief executive

Company

2019 pay

Tim Steiner

Ocado

£58.783m

Pascal Soriot

AstraZeneca

£14.330m

Ivan Menezes

Diageo

£11.654m

Mark Cutifani

Anglo American

£11.225m

Bob Dudley

BP

£10.373m

Brian Cassin

Experian

£10.344m

Benoit Durteste

Intermediate Capital Group

£9.526m

Ben van Beurden

Royal Dutch Shell

£8.761m

Erik Engstrom

RELX

£8.681m

Emma Walmsley

GlaxoSmithKline

£8.369m

 

There are six CEOs in the FTSE 100 who earn more than £10 million per year. The bottom line? UK top companies’ bosses are extremely well compensated.

[middle_pitch]

How to grow your own wealth

It goes without saying that most of us may never become as rich or earn the same as the UK’s highest-paid executives. But don’t think that you need to be a part of the rich elite or a CEO of a major corporation to achieve financial independence.  

For example, the stock market has been around for decades, providing investors with opportunities to become wealthy and attain financial freedom.

As many investors can attest, if you adopt a long-term approach and keep your emotions at bay, then there is no reason why you shouldn’t be able to succeed and achieve your financial objectives.

If you’re new to stock investing, check out our comprehensive investing guide for beginners.

Alternatively, if you are already familiar with investing, see if you can maximise your returns by investing in one of our top-rated stocks and shares ISAs, which allow you to invest up to £20,000 tax free each year.

Please note that tax treatment depends on the specific circumstances of the individual and may be subject to change in the future.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

More on Personal Finance

Note paper with question mark on orange background
Personal Finance

Should you invest your ISA in a model portfolio?

Which model ISA portfolios offer both high performance and low fees? Hargreaves Lansdown, Interactive Investor and AJ Bell go under…

Read more »

Economic Uncertainty Ahead Sign With Stormy Background
Personal Finance

Is it time to exit emerging markets investments?

Investors may well be sitting on losses from emerging markets funds. Is it worth keeping the faith for a sustained…

Read more »

Personal Finance

Share trading? Three shares with turnaround potential

Share trading has been difficult in 2022, but which companies have turnaround potential? Jo Groves takes a closer look at…

Read more »

Man using credit card and smartphone for purchasing goods online.
Personal Finance

Revealed! Why Gen Z may be the savviest generation when it comes to credit cards

New research reveals that Gen Z may be the most astute when it comes to credit cards. But why? And…

Read more »

Environmental technology concept.
Personal Finance

The 10 best-performing sectors for ISA investors

The best-performing sectors over the past year invested in real assets such as infrastructure, but is this trend set to…

Read more »

Road sign warning of a risk ahead
Personal Finance

Recession risk ‘on the rise’: is it time for investors to worry?

A major global bank has suggested the risk of a recession in the UK is 'on the rise'. So, should…

Read more »

pensive bearded business man sitting on chair looking out of the window
Personal Finance

1 in 4 cutting back on investments amid cost of living crisis

New research shows one in four investors have cut back on their investing contributions to cope with the rising cost…

Read more »

Image of person checking their shares portfolio on mobile phone and computer
Personal Finance

The 10 most popular stocks among UK investors so far this year

As the new tax year kicks off, here's a look at some of the most popular stocks among UK investors…

Read more »