Today’s Wall Street Journal features the highest paid CEO in America that you never heard of. And he runs a company called Paycom Software Inc, which you have probably never heard of either.
His name is Chad Richison of Oklahoma City and his pay was $211 million last year according to the company’s SEC filing and $711 million according to an alternative analysis performed by a reputable outfit called Institutional Shareholder Services. Either way, the man’s paycheck was equal to between 11,000 and 36,000 of the jobs wiped out in the leisure and hospitality sector last year.
To be sure, Mr. Richison deserves to be rich. He founded a company in 1998 which now serves over 26,500 small- to medium-sized business customers with human resources and payroll support.