Twitter Is Enraged After An Entrepreneur Reveals A List Of Companies That Went Bankrupt But Paid The CEOs 7-Digit Sums

Boy, what a year. Millions of people lost their sources of income for an indefinite time. Essential workers (or “heroes,” like we all like to label them nowadays) are risking their health in order to pay their bills. Companies are going bankrupt. But no need to worry about the CEOs or the big guys—apparently, they’re all doing just fine.

Dan Price—an unorthodox entrepreneur—has recently shared what the retention bonuses of the CEOs of big companies look like. The man, whose Twitter bio reads “I cut my CEO pay by a million dollars so all workers could make at least $70,000 per year,” shared a list of companies that went bankrupt in the pandemic and paid their CEOs a bonus. And apparently, the amount of money that these businessmen made is not sitting right with most people.

More info: Twitter

This entrepreneur shared a list of companies that paid their CEOs huge bonuses after going bankrupt

Image credits: DanPriceSeattle

“Regular person goes broke in the pandemic: 4-hour bread lines and homelessness,” Dan Price wrote in a now-viral tweet. “Company goes bankrupt in the pandemic: employees get laid off and the CEO gets a seven-figure bonus.” He went on to share a list of the companies who did just that.

The list included such giants like JC Penney and Chuck E Cheese

Image credits: DanPriceSeattle

“If you’re wondering why CEOs get bonuses for driving their companies into bankruptcy, it’s called a ‘retention’ bonus so they’ll stay on,” Dan explained. The financial incentive called a retention bonus is offered to senior execs and key employees to persuade them to stay with the company while it’s going through a disruptive period. “Just spitballing here, but maybe the CEO who led you into bankruptcy isn’t the best one to get you out, let alone at a higher pay rate,” the entrepreneur continued.

“Maybe the CEO who led you into bankruptcy isn’t the best one to get you out”

Image credits: DanPriceSeattle

The tweet shared by Dan has already been liked by more than 10k people and spread onto other social media platforms as well. “Man, some of those poor CEOs only made 6-figure bonuses. They must be practically starving in the streets,” one Imgur user commented on the tweet. “America needs a nation-wide strike,” someone added.