According to the economic website “Maal,” around 850 executives and leaders of companies listed on the Saudi stock market “Tadawul” received a total of 2.5 billion riyals in salaries, bonuses, allowances, end-of-service benefits, shares, and other compensation in 2022. The top ten highest-paid executives in listed companies for the same year are as follows:
1. Extra Company, with a total compensation of 136.1 million riyals, awarded to Muhammad Jalal Fahmy and four others.
2. Saudi Aramco, with compensation worth 99.4 million riyals, was awarded to Amin Al-Nasser and five others.
3. Al-Ahly Bank came in third, with compensation worth 65.7 million riyals, awarded to Saeed Al-Ghamdi and five others.
4. The Saudi Telecom Company, providing 57.9 million riyals, was obtained by Olayan Al-Wateed and four others.
5. The Kingdom Company provided 57.3 million riyals, and was obtained by Talal Al-Maiman and four others.
6. The Arab Bank was awarded compensation worth 53.0 million riyals, with Obaid Al-Rasheed and five others receiving it.
7. Bank Al Bilad provided 50.9 million riyals and was obtained by Abdulaziz Al-Onaizan and six others.
8. Al-Rajhi Bank provided 50.2 million riyals, and it was obtained by Walid Al-Moqbel and five others.
9. SABIC Bank provided 48.2 million riyals, and it was obtained by Youssef Al-Bunyan, Abdul Rahman Al-Faqih, and four others.
10. Banque Saudi Fransi was awarded compensation worth 47.3 million riyals, obtained by Rayan bin Muhammad Fayez, Badr Hamad Al-Salloum, and four others.
Al-Marsad Newspaper: The monitoring conducted by the economic website “Maal” showed that about 850 heads and senior executives of companies listed on the Saudi stock market “Tadawul” received about 2.5 billion riyals in salaries, bonuses, allowances, end of service, shares and others for the past year 2022.
The top 10 salaries and allowances for senior executives in listed companies for the year 2022 are as follows:
first place : Extra Company, with a total value of 136.1 million riyals, was acquired by Muhammad Jalal Fahmy and 4 others.
Second place : Saudi Aramco, with a value of 99.4 million riyals, was acquired by Amin Al-Nasser and 5 others
the third place: Al-Ahly Bank, with a value of 65.7 million riyals, obtained by Saeed Al-Ghamdi and 5 others.
fourth place : The Saudi Telecom Company stc, which provided 57.9 million riyals, was obtained by Olayan Al-Wateed and 4 others.
Fifth place: The Kingdom Company, which provided 57.3 million riyals, was acquired by Talal Al-Maiman and 4 others.
Sixth place: The Arab Bank, with a value of 53.0 million riyals, obtained by Obaid Al-Rasheed and 5 others.
Seventh place: Bank Al Bilad with 50.9 million riyals, and it was obtained by Abdulaziz Al-Onaizan, and 6 others.
Eighth place: Al-Rajhi Bank with 50.2 million riyals, and it was obtained by Walid Al-Moqbel and 5 others.
Ninth place: SABIC Bank provided 48.2 million riyals, and Youssef Al-Bunyan, Abdul Rahman Al-Faqih and 4 others obtained it.
Tenth place: Banque Saudi Fransi with 47.3 million riyals, which was obtained by Rayan bin Muhammad Fayez, Badr Hamad Al-Salloum and 4 others.
As the list of salaries and allowances for senior executives in listed companies for the year 2022 comes to an end, it is clear that a large sum of money is being given out to these top executives. While it is understandable that these individuals hold important positions that require high levels of skill and experience, it is important to question whether this level of compensation is truly necessary and if it aligns with the success and growth of the company as a whole. It is hoped that transparency and accountability will continue to be fostered in the Saudi stock market to ensure fairness and balance in the distribution of wealth.