The CEOs of 50 Swedish major companies had an annual income, including capital gains, that was 71.1 times higher than the average industrial worker's salary, according to LO.
Since 2019, the pace has accelerated, with the group earning the equivalent of 60.2 industrial worker salaries. In 2022, there was a slight decrease, but now it is the highest level since the comparison began 70 years ago.
Personally, I think it's very disturbing. That those who have held up this country through the pandemic and inflation crisis are now being driven away by these business leaders, says LO Chairman Johan Lindholm.
LO also has a broader definition of the power elite. This includes around 200 people with high-ranking positions in economics, politics, business, and other important social areas. In 2023, this group had an average combined income equivalent to 23.4 industrial worker salaries, which is the highest level according to LO.
In 1950, when the surveys began, the broader power elite's average income was equivalent to 11.1 industrial worker salaries. In 1980, the difference was at its smallest, equivalent to five industrial worker salaries.
Who needs this money most? The power elite or ordinary people? The distribution is not only unfair, it's also bad for Sweden's economy, Sweden as a country.
