Sir Martin Sorrell, boss of advertising giant WPP had a pay cut of £22million. This sum alone would make anyone a rich person and above the rest of the crowd. Sir Martin is one of the biggest donors of the Tory Party, if not the biggest.
Despite of the huge pay cut he still earned a massive £48million in 2016.
In the previous year, his earning was an unbelievable £70.4million.
The big decrease came from the falling value of his long-term share incentive plan. It fell from £62,8million to just about £41million.
It is estimated that Sir Martin Sorrell is worth £231million or more.
His basic salary is still £1.15million and he remains the highest paid chief executive in the FTSE100.
This is all very well because he is the boss of a giant advertising company and has the right to earn what he is working for.
But if you look a bit closer the facts emerge that although a powerful company in the advertising world and therefore very successful for companies these huge fees will eventually come down to the consumer.
Lets face it, a man earning £48million is not justified not to forget the rest of his executives who will not go home with a merely £22,000 or even £50,000 a year.
All these huge sums of money paid will come down to the consumers who pay for the goods. At that point of view, it is not justifiable to demand a high price for adverts to receive a £48million just for one man.
Furthermore, most of the adverts are forced on consumers whether they want it or not just so the chief executive and his friends can cash in enormous amount of money.
BBC always demanded a licence fee because they did not run adverts. ITV did not ask for licence fees because they financed their programmes by having adverts.
For years now, the BBC is also having adverts but did not stop the licence fee. It should have been stop years ago but, of course, it be a benefit for the people and that will never do, besides BBC is controlled by the Tory Government.
A further point has to be made, which is not quite honourable, WPP company is registered in Jersey a tax haven of the Government or closer to the truth, the Tories. Sir Martin Sorrell uses it to bring down his tax to £200million.
Another loss to the Revenue Department but never mind Chancellor Philip Hammond will bring it back by higher tax and Welfare cut in his budgets.