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BP boss doubled pay in 2021 as prices surged

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The total pay of Bernard Looney, boss of oil giant BP, more than doubled last year to £4.5m, "as higher oil prices turned the company into a 'cash machine," says the Daily Mail.

Looney received £2.9m in bonuses on top of £1.3m in salary and other benefits totaling £200,000.

In 2020, Looney was paid £1.7m in total, with no bonus.

David Zaslav, chief executive of US media group Discovery, received a pay package valued at $246.6m for 2021, six times higher than he got in the previous year, says The Wall Street Journal.

READ MORE: BP POSTS MASSIVE £9.5 BILLION PROFITS AS PRICES SOAR AND UK COST-OF-LIVING CRISIS WORSENS

While his salary remained flat at $3m, Zaslav was given almost $203m in stock options, which he received just prior to the company announcing its plans to merge with AT&T's WarnerMedia.

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He also received a $4.4m cash bonus for his leadership during the pandemic. Zaslav's is the highest pay of any S&P 500 company reported so far this year.

Britain's former deputy prime minister Nick Clegg was handed a $12.3m stock package as part of his promotion in February to the role of president of global affairs at Meta, owner of Facebook, says Bloomberg.

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That is almost as many shares as he had been granted during his first three years at the company combined, and is in addition to his annual salary, which is reported to be around $3.5m a year.

Clegg's promotion adds a third person to Meta's leadership alongside CEO Mark Zuckerberg and chief operating officer Sheryl Sandberg.

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