Highest-paid CEOs by state

  • FILE- In this March 14, 2019, file photo Tesla CEO Elon Musk speaks before unveiling the Model Y at Tesla's design studio in Hawthorne, Calif. Musk was the top paid CEO in California for 2018, as calculated by The Associated Press and Equilar, an executive data firm. 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. That’s why it includes Musk. Musk earned $2.28 Billion in 2018. (AP Photo/Jae C. Hong, File)

Here are the top-paid CEOs by state for 2018, 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 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. That’s why it includes such CEOs as Tesla’s Elon Musk.


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 million last year. Median means half made more, and half made less.

The highest-paid CEOs were:

• Alabama: J. Thomas Hill, Vulcan Materials, $7.8 million

• Arizona: Richard Adkerson, Freeport-McMoRan, $14 million

• Arkansas: C. Douglas McMillon, Walmart, $23.6 million

• California: Elon Musk, Tesla, $2.28 Billion

• Colorado: Gregory Maffei, Liberty Media, $20.2 million

• Connecticut: Glenn Fogel, Booking Holdings, $20.5 million

• Delaware: Hervé Hoppenot, Incyte, $9.3 million

• Washington, D.C.: Thomas Joyce, Jr., Danaher, $15.4 million

• Florida: Frank Del Rio, Norwegian Cruise Line Holdings, $22.6 million

• Georgia: Martin Richenhagen, AGCO, $18.6 million

• Hawaii: Constance Lau, Hawaiian Electric Industries, $5.7 million

• Idaho: Darrel Anderson, IDACORP, $4.5 million

• Illinois: Miles White , Abbott Laboratories, $24.3 million

• Indiana: David Ricks, Eli Lilly, $15.7 million

• Iowa: Daniel Houston, Principal Financial Group, $10.5 million

• Kansas: Thomas Gentile III, Spirit AeroSystems, $9.9 million

• Kentucky: William Carstanjen, Churchill Downs, $21.1 million

• Louisiana: Leo Denault, Entergy, $9.3 million

• Maine: Jonathan Ayers, IDEXX Laboratories, $6.8 million

• Maryland: David Zaslav, Discovery, $129.5 million

• Massachussetts: James Heppelmann, PTC, $50 million

• Michigan: Mary Barra, General Motors, $21.9 million

• Minnesota: James Cracchiolo, Ameriprise Financial, $24.8 million

• Mississippi: Joe Sanderson, Jr., Sanderson Farms, $4.2 million

• Missouri: Michael Neidorff, Centene, $26.1 million

• Nebraska: Lance Fritz, Union Pacific, $12.8 million

• Nevada: Sheldon Adelson, Las Vegas Sands, $24 million

• New Hampshire: Timothy McGrath, PC Connection, $4.5 million

• New Jersey: Kenneth Frazier, Merck, $20.9 million

• New Mexico: Patricia Collawn, PNM Resources, $4.8 million

• New York: James Dimon, JPMorgan Chase, $30 million

• North Carolina: Brian Moynihan, Bank of America, $22.5 million

• North Dakota: David Goodin, MDU Resources Group, $4.1 million

• Ohio: Gary Heminger, Marathon Petroleum, $18.9 million

• Oklahoma: Harold Hamm, Continental Resources, $13.3 million

• Oregon: Bryan DeBoer, Lithia Motors, $5.5 million

• Pennsylvania: Brian Roberts, Comcast, $35 million

• Rhode Island: Larry Merlo, CVS Health, $21.9 million

• South Carolina: John Williams, Domtar, $8 million

• South Dakota: David Emery, Black Hills , $4.1 million (left company on Dec. 31, 2018)

• Tennessee: R. Milton Johnson, HCA Healthcare, $20.1 million (left company on Dec. 31, 2018)

• Texas: Lewis Bird III, At Home Group, $43.1 million

• Utah: Joseph Margolis, Extra Space Storage, $4.4 million

• Virginia: Paul Saville, NVR, $39.1 million


• Washington: John Legere, T-Mobile US, $66.5 million

• Wisconsin: Jeffery Yabuki, Fiserv, $12.4 million

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