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Nov122009

Bill Gates says executive pay is “often too high”


Bill Gates

Bill Gates says that Wall Street executives often get paid too much. In his remarks made in New York City, Microsoft co-founder Bill Gates said that executive pay is “often too high.” But the multi-billionaire also cautioned against controlling executive salaries, citing the 1993 U.S. law that capped exec salaries at $1 million as “a bad milestone,” Reuters reports. “The compensation problem is a very interesting problem. I do think compensation is often too high, but it’s a very tough problem to solve,” said Gates. Forbes recently placed Gates’ wealth at $40 billion, despite losing an estimated $18 billion over past 12 months.

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