The pay of American chief executives “surged” in 2020, say Theo Francis and Kristin Broughton in The Wall Street Journal.

Despite a year of historical upheaval, the median pay for 322 of the biggest public companies rose to $13.7m last year, up from $12.8m for the same companies in 2019.

Pay rises were handed to 206 of the CEOs, including to those leading loss-making companies.

For example, CEO Frank Del Rio’s pay doubled to $36.4m last year, despite his firm, Norwegian Cruise Line Holdings, falling to a $4bn loss. If that weren’t enough, bosses at big US companies, such as Morgan Stanley, Yum!

Brands and PepsiCo enjoyed expanded private-jet privileges during the pandemic, including for personal use, says Patrick Temple-West in the Financial Times.

In the past year, the median value of Fortune 100 companies’ spending on private jets increased to $125,796, up 9% in 2019.

Source: MoneyWeek.com

Kris Paterson is a writer for WhatJobs.com