A growing number of American executives are becoming billionaires not by founding companies, but through massive pay packages and soaring stock values, with Forbes identifying a record 48 such “hired-hand” billionaires in 2025—up from just 7 in 2010. These executives, including notable newcomers like Microsoft’s Satya Nadella and AppLovin’s Vasily Shikin, have amassed fortunes largely through stock-based compensation, reflecting a broader trend of rising equity components in CEO pay and a booming market.
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