Who is Shankh Mitra, CEO with a $821-million salary, second only to Elon Musk?

Shankh Mitra, the chief executive officer of real estate investment trust Welltower, received total compensation of $821 million in 2023, making him the second-highest-paid CEO in the United States after Elon Musk. The figure includes stock awards and options tied to the company's performance.

Mitra, 52, has led Welltower since 2020. The Toledo, Ohio-based company invests in healthcare infrastructure, including senior housing and medical office buildings. His compensation package was largely driven by a long-term incentive plan that vested after Welltower's stock price tripled over a five-year period.

The $821 million payout places Mitra well above other top-earning CEOs. For context, the median CEO pay in the S&P 500 was about $16 million in 2023. Musk's compensation, primarily from Tesla stock options, was valued at over $10 billion.

Welltower's board defended the pay package, stating it was tied to ambitious performance targets that benefited shareholders. Critics, however, have pointed to the widening gap between CEO and worker pay, with some calling for greater transparency in executive compensation.

Mitra previously served as Welltower's chief investment officer and held roles at other real estate firms. He holds a bachelor's degree in economics from St. Stephen's College in Delhi and an MBA from the University of Chicago Booth School of Business.