CNN Business Nightcap: The gulf between what you and your boss makes is getting wider

In today’s business news: A new report highlights the gap between CEO and worker pay; a $25 toy is now selling for $28,000; and RIP Twitter Fleets.

Here’s your midweek outrage fuel: The gulf between what your boss makes and what you make got even wider during the pandemic. How much wider? *cracks knuckles*

Let’s dig in: The average CEO of an S&P 500 company made 299 times the average worker’s salary last year, according to AFL-CIO’s annual Executive Paywatch report.

Breaking that down a bit more…

• The average CEO’s compensation: $15.5 million. That’s a 5% increase from the previous year.

• The average worker’s: $43,512. A 1% increase.

• CEO raises: Been getting an average raise bump of $260,000 every. single. year. for the past decade. (Just as an aside: the federal minimum wage hasn’t been raised once since 2009.)

• Worker raises: Been getting an average raise increase of $957 a year.

And before you @ me with your “But if the free market has determined that a…

Read more…