Walmart CEO Doug McMillon Earns 976 Times More Than Median Employee Last Fiscal Year

Anan Ashraf

April 27, 2024

Walmart Inc (NYSE:WMT) CEO Doug McMillon was paid 976 times a median associate in the world’s largest retail company over the last fiscal year.

What Happened: McMillon was paid $26.97 million last fiscal year as compared to the annual total compensation of a median associate which was $27,642, the company said in a filing on Thursday.

As of December 31, 2023, Walmart employed about 2.15 associates worldwide, with over 2 million employed just in the U.S. The company has over 5000 stores in the U.S. and accumulated consolidated revenue of $648.1 billion and consolidated operating income of $27 billion over the past fiscal year.

McMillon had a base salary of over $1.5 million, received stock awards of $19.61 million and other compensation of about $5.85 million, taking his cumulative salary for the fiscal year ended Jan. 31 to $26.97 million or 6.6% higher than the fiscal year before.

Why It Matters: The pay disparity between CEOs and their employees has been a contentious issue for some time. The significant difference in McMillon’s compensation compared to the median Walmart employee’s earnings highlights this ongoing debate. This disparity is even more pronounced when compared to other retail giants like Target and Costco, where the CEO-to-worker pay ratios are significantly lower.

Earlier, this month planemaker Boeing said that the company paid its outgoing CEO David Calhoun $32.8 million as total compensation in 2023. While Calhoun's salary only accounts for $1.4 million of his total compensation, he received $30.2 million in stock awards and $1.2 million as all other compensation last year, Boeing said in a regulatory filing.

Price Action: Walmart stock fell 0.08% to $60.16 per share on Friday, according to Benzinga Pro. As of the stock’s previous close, the company has a market cap of $485.28 billion, significantly higher than Target Corp‘s $75.92 billion or Costco Wholesale Corporation‘s $320.15 billion.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read More: Tesla To Cut 693 Jobs In Nevada Amid Global Workforce Reduction: Government Notice

Image from Shutterstock

Recommended

Buy This Next Gen Crypto Before Its Big Upgrade - Ad

Discover "U.S.'s New Money" Before Biden Wins - Ad

Must-See: Elon's New Invention is Absolutely Insane - Ad

California has reported stats on its crackdown on illegal cannabis operations, with state law enforcement seizing over $61 million worth...

Competition For Disney? Comcast To Offer Streaming Bundle Of Apple TV+, Netflix, Peacock At 'Vastly Reduced' Price

Comcast is set to introduce a new streaming bundle featuring Apple TV+, Netflix, and Peacock, a service by NBCUniversal.

America's "Least Woke" CEO Has a Different Idea for Your Money

America's "Least Woke" CEO Has a Different Idea for Your Money - Ad

Porter Stansberry might be the "least woke" CEO in America. And today he says, "There's a new form of money in America, making some people (including Elon Musk, Jeff Bezos, and Tim Cook), rich." It has nothing to do with gold or bitcoin, but it's 100% legal. The problem? Few Americans have a real understanding of how it works.

US investigating Waymo autonomous vehicles after reports of crashes or possible traffic violations

DETROIT (AP) — The U.S. government's highway safety agency has opened another investigation of automated driving systems, this time into crashes involving Waymo's self-driving vehicles.

Australian judge says it is unreasonable to require X to hide video of church stabbing for all users

MELBOURNE, Australia (AP) — An Australian judge said it would be unreasonable for the country's internet safety watchdog to require social platform X to hide video of a bishop being in a Sydney church from all of its users globally, as he explained his decision to lift a that had required X to hide the video of the attack.

Central Banks Buying Gold in Record Numbers

Central Banks Buying Gold in Record Numbers - Ad

Most folks have completely missed the fact that the world's Central Banks have been quietly gobbling up as much gold as they can... Stacking it in their locked vaults on pallets in record numbers. Find out why right here (and see what you can do to get in too with just a few dollars).

Joe Biden Calls Donald Trump 'Clearly Unhinged' At Private Fundraiser: 'When He Lost In 2020, Something Snapped In Him'

In a recent private fundraiser, President Joe Biden has characterized his predecessor, Donald Trump, as "clearly unhinged", attributing this change to Trump's loss in the 2020 election.

Biden Vs. Trump Contest Could Be Lost Cause For One Candidate If History Were Anything To Go By, According To Pollster

The 2024 election is viewed as closely contested at this stage, with no clear lead emerging, but historical trends suggest a likely winner.

What Should You Be Doing To "A.I.-Proof" Your Retirement?

What Should You Be Doing To "A.I.-Proof" Your Retirement? - Ad

A.I. is creeping into every aspect of our daily lives... According to billion-dollar fund manager Louis Navellier, it's never been more important to A.I.-proof your wealth. He lays out three simple steps to take ASAP in his latest video.

As Melinda French Gates leaves the Gates Foundation, many hope she'll double down on gender equity

NEW YORK (AP) — Melinda French Gates is already one of the biggest philanthropic supporters of gender equity in the United States and is now poised to put another $12.5 billion toward intractable problems like closing the gender pay gap and increasing women's political participation, her grantees hope.

Cave-in leaves 3 miners missing and 11 injured at a coal mine in Poland

WARSAW, Poland (AP) — A cave-in at the Myslowice-Wesola coal mine in southern Poland early Tuesday left three miners missing and 11 hospitalized with some injuries, mining authorities said Tuesday.

This Is Where the World's Richest Men Are Putting Their Money

This Is Where the World's Richest Men Are Putting Their Money - Ad

Bill Gates, Peter Thiel, Mark Zuckerberg -- they're pouring millions into something we call Imperium technology. And you can invest in this tech alongside them starting with just $10. Bill Gates called Imperium "one of the most powerful technologies of the 21st century."

What's Going On With Palantir Technologies Stock Today?

Last week, Palantir Technologies reported strong Q1 results, beating revenue estimates and delivering six straight quarters of GAAP profitability. It also raised its full-year guidance and aims to be the dominant AI infrastructure in the market.

Trump's Erstwhile Lawyer Testifies To Former President's Involvement In Hush Money Payment: 'Don't Worry Michael, You Will Get Paid Back'

Michael Cohen testified to making payments on behalf of Donald Trump to keep stories of affairs from becoming public.

Buy Alert: Invest in This Coin Before... [Details Inside]

Buy Alert: Invest in This Coin Before... [Details Inside] - Ad

Today, Ian issued a new "buy alert. He's calling this one "the greatest investment in history," and adds: "All my data is clear. It will be 20X bigger than bitcoin. "But you'll want to invest before the upgrade date.

Buffett Says No Other Americans Would Have Had To Pay Even A Dime In Federal Taxes If This Had Happened

Warren Buffett suggests that federal taxes will likely increase given the country's precarious fiscal position, and he expressed Berkshire's willingness to cover the tax bill it faces.

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

Over the weekend, Elon Musk agreed with a sentiment shared by investment titan Warren Buffett about the importance of spending time with loved ones, despite their contrasting investment philosophies.

One Crypto Can Change Your Financial Life

One Crypto Can Change Your Financial Life - Ad

The catch is you won't be able to become a millionaire by buying Bitcoin today. There are five little-known coins I've discovered that I believe will skyrocket over the course of the next few months.

Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of 'Bodies Around Him': 'He Takes Out Everybody Who Is Loyal To Him'

Cassidy Hutchinson, a former aide to Donald Trump, publicly expressed her disapproval of the ex-president following the recent indictments of his associates in the Arizona fake electors scheme.

Trump Vs. Biden: New Swing State Poll Reveals Winner, One Key 2024 Election Issue Could Influence Result (Updated)

A new 2024 election poll of swing state voters shows Donald Trump with a commanding lead. One key factor could be determining the race in these markets.

The A.I. Story Nobody is Telling You (Read ASAP)

The A.I. Story Nobody is Telling You (Read ASAP) - Ad

There's been a lot of buzz surrounding A.I. over the past couple of years -- but there's only ONE story you should be worried about. Whether you have $500 or $500,000, this radical new A.I. Innovation will have a direct impact on your wealth.

Shopify Prepares To Report Q1 Earnings: Charts Indicate Bullish Reversal, Analysts Predict Downside

Shopify (SHOP) will report Q1 earnings on Wednesday. Technical indicators suggest a bullish trend, while analysts foresee a downside potential of -17.70%.

Elon Musk Causes Stir With Response To Professor's Ominous Prediction Of Civil War 'Coming To The West'

Elon Musk raised eyebrows with his recent tweet affirming a prediction of a civil war in the West.

"America's No. 1 Retirement Stock" (Name Inside)

"America's No. 1 Retirement Stock" (Name Inside) - Ad

According to the former Goldman Sachs VP -- who wrote a best-selling book on retirement -- one single stock stands head-and-shoulders above all others. And it should be the cornerstone of your portfolio. Have you heard of it?

Cathie Wood's Ark Invest Snaps Up $3.54M Worth Of Shares In This Biopharma Company Following Positive Obesity Pipeline Update

As the demand for obesity drugs continues to surge, biopharma companies are eagerly seizing the opportunity to capitalize on the trend.

Trump's Son-In-Law Back In Political Arena? Jared Kushner Reportedly Making Calls To Potential Donors To Attend Ex-President's New York Fundraiser For 2024 Run

It is unclear whether Kushner's recent fundraising efforts are a one-time occurrence or a sign of his increased involvement in Trump's 2024 campaign.

READ THIS If You Missed Out on the AI Boom

READ THIS If You Missed Out on the AI Boom - Ad

Radical new biotechnology predicted to grow 320,000% in 3 years. Nvidia's CEO calls it "the next amazing revolution." And one small company poised to dominate this revolution trades for just $10.

Elon Musk's Tesla Faces FSD Uptake Challenge As Only 2% Of Free Trial Users Subscribe, Gary Black Terms The Figure 'Disappointing'

Gary Black, a prominent figure at Future Fund, has raised concerns over the low uptake of Tesla's Full Self-Driving subscription service. Only 2% of the free trial users have opted for the subscription, a figure that is below expectations.

More cows are being tested and tracked for bird flu. Here's what that means

U.S. health and agriculture officials are and tracking of bird flu in dairy cows in an urgent effort to understand — and stop — the growing outbreak.

The New Financial Threat That Could Wipe out Millions...

The New Financial Threat That Could Wipe out Millions... - Ad

If you're worried about repeating the mistake that so many made during the dot-com boom...You need to watch this urgent video. During this market shakeout, many of today's high-flying AI stocks are going to crash and burn like countless internet stocks did in 2000.

Bitcoin ETFs Record $51M Net Outflows On Monday, Continue 3-Week Outflow Trend

The cryptocurrency investment landscape has been marked by a concerning trend in recent weeks, with significant outflows recorded across major Bitcoin (CRYPTO:

The SEC charges Trump Media's newly hired auditing firm with 'massive fraud'

SAN FRANCISCO (AP) — The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with “massive fraud” — though not for any work it performed for former President Donald Trump’s media company.

Millionaire Investor Makes Surprising Election Prediction

Millionaire Investor Makes Surprising Election Prediction - Ad

Louis Navellier says he knows who's going to win the election. And how they could send six specific AI stocks through the roof on their first day.

Fans are following Taylor Swift to Europe after finding Eras Tour tickets less costly there

LONDON (AP) — Thousands of ride-or-die fans who on her U.S. concert tour last year or didn't want to buy exorbitantly priced tickets to see her again found an out-of-the-way solution: Fly to Europe.

Demand Soars For Novo Nordisk's Weight-Loss Drug Wegovy Despite Supply Constraints And Eli Lilly Competition

The Danish pharmaceutical company is now shipping more introductory doses of Wegovy to the U.S., as it grapples with supply constraints and competition from Eli Lilly.

The Next Wave of AI Is Here

The Next Wave of AI Is Here - Ad

The age of artificial intelligence has been unleashed. The first wave of AI lifted the stocks of Nvidia and other companies producing chips to power AI technology. The new wave of AI has everything to do with software - and it's just getting started.

Bystander livestreams during Charlotte standoff show an ever-growing appetite for social media video

CHARLOTTE, N.C. (AP) — Saing Chhoeun was locked out of his Charlotte, North Carolina, home on Monday as law enforcement with high-powered rifles descended into his yard and garage, using a car as a shield as they were from the direction of his neighbor's house.

Bumble's billboard ads sneered at celibacy as an alternative to dating â€” and the company got stung

SAN FRANCISCO (AP) — The dating app Bumble got stung after running billboard ads that appeared to sneer at celibacy as an alternative to meeting people online.

Forget AI...THIS Is Way Bigger

Forget AI...THIS Is Way Bigger - Ad

While the world has been obsessed with AI and ChatGPT... Jeff Bezos has quietly gone all in on a technology that's going to prove to be FAR bigger. If you've never heard of "QaaS" technology you need to

US energy panel approves rule to expand transmission of renewable power

WASHINGTON (AP) — Federal energy regulators on Monday approved a long-awaited rule to make it easier to transmit renewable energy such as wind and solar power to the electric grid — a key part of President Joe Biden’s goal to

Trending Now

GOP Lawmakers In Ohio Finally Approve Rules Allowing Cannabis Sales To Begin In June, Existing Medical Marijuana Dispensaries Can Join In

Joe Manchin Expresses Disappointment In Congress' Inaction Over Nation's Rising $35 Trillion Debt: 'It's A Shame ... No One Cares About It'

Jim Cramer Advises Investors To Stick With Good Companies Despite Short-Term Losses: 'You Just Need To Figure Out Which Companies Deserve Your Confidence'