In this Jan. 14, 2018, file photo, Walmart CEO Doug McMillon speaks at the National Retail Federation's conference in New York. McMillon was the highest paid CEO in the state of Arkansas. Overall, the typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, according to AP’s annual survey of executive compensation. (AP Photo/Mark Lennihan)
In this May 23, 2018 file photo, Alexander Karp, US co-founder and CEO of the software firm Palantir Technologies leaves after the "Tech for Good" Summit at the Elysee Palace in Paris. Pay packages rose yet again in 2020 for the CEOs of the biggest U.S. companies, even though the pandemic sent the economy to its worst quarter on record and slashed corporate profits around the world. (AP Photo/Francois Mori)Here are the top-paid CEOs by state for 2020, as calculated by The Associated Press and Equilar, an executive data firm.
The survey considered only publicly traded companies with more than $1 billion in revenue that filed their proxy statements with federal regulators between Jan. 1 and April 30. Not every state has such a company headquartered there. The survey includes only CEOs who have been in place for at least two years, but it does not limit the survey to companies in the S&P 500, as the AP’s general compensation study does.
To calculate CEO pay, Equilar adds salary, bonus, stock awards, stock option awards, deferred compensation and other components that include benefits and perks. For some companies, big raises can occur when CEOs get a stock grant in one year as part of a multi-year grant.
Median pay for S&P 500 CEOs was $12.7 million last year. Median means half made more, and half made less.
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Alabama: Edward K. Aldag, Jr., Medical Properties Trust, $16.9 million
Arizona: Joseph M. Hogan, Align Technology, $15.5 million
Arkansas: C. Douglas McMillon, Walmart, $22.6 million
California: Tony Xu, DoorDash, $413.7 million
Colorado: Alexander Karp, Palantir Technologies, $1.1 billion
Connecticut: Thomas M. Rutledge, Charter Communications, $38.7 million
Delaware: Hervé Hoppenot, Incyte, $16.4 million
Washington, D.C.: Andrew C. Florance, CoStar Group, $21.3 million
Florida: Frank J. Del Rio, Norwegian Cruise Line, $31.9 million
Georgia: Michael Hayford, NCR, $28.3 million.
Hawaii: Matthew J. Cox, Matson, $5.1 million
Illinois: Gregory Q. Brown , Motorola Solutions, $23 million
Indiana: David Ricks, Eli Lilly, $17.8 million
Iowa: Daniel Houston, Principal Financial Group, $11.6 million
Kansas: Adam M. Aron, AMC Entertainment, $16.9 million
Kentucky: Bruce D. Broussard, Humana, $16.5 million
Louisiana: Jeffrey K. Storey, Lumen Technologies, $17 million
Maine: Melissa Smith, WEX, $16.3 million
Maryland: David Zaslav, Discovery, $37.7 million
Massachusetts: Larry Culp, General Electric, $72.7 million
Michigan: Jay Farner, Rocket Companies Inc., $51.7 million
Minnesota: Brian C. Cornell, Target, $19.8 million
Mississippi: Joe Sanderson, Jr., Sanderson Farms, $4.5 million
Missouri: Michael Neidorff, Centene, $25 million
Nebraska: Lance Fritz, Union Pacific, $13.4 million
Nevada: Matt Maddox, Wynn Resorts, $18.2 million
New Hampshire: G. Manning Rountree, White Mountains Insurance, $7.2 million
New Jersey: Alex Gorsky, Johnson & Johnson, $23.1 million
New Mexico: Patricia K. Collawn, PNM Resources, $9 million
New York: Joseph Levin, IAC/InterActiveCorp, $189.5 million
North Carolina: Brian T. Moynihan, Bank of America, $25.4 million
North Dakota: David L. Goodin, MDU Resources Group, $6 million
Ohio: Kevin Stein, TransDigm Group, $22.1 million
Oklahoma: Chad Richison, Paycom Software, $211.1 million
Oregon: Bryan DeBoer, Lithia Motors, $8.3 million
Pennsylvania: Brian L. Roberts, Comcast, $32.7 million
Rhode Island: Brian Goldner, Hasbro, $16.4 million
South Carolina: John D. Williams, Domtar, $6.7 million
South Dakota: Linden R. Evans, Black Hills, $4.1 million.
Tennessee: Samuel N. Hazen, HCA Healthcare, $18.1 million
Texas: Perry A. Sook, Nexstar Media , $23.6 million
Utah: Todd R. Pedersen, Vivint Smart Home, $30.1 million
Virginia: Richard D. Fairbank, Capital One Financial, $20.1 million
Washington: Clay B. Siegall, Seagen, $16.5 million
Wisconsin: Kevin Conroy, Exact Sciences, $20.1 million
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