"Last time I checked, pharmaceutical companies don't make a lot of money," he said on his WOR-AM radio show. "Their executives don't make a lot of money." -Bloomberg
Someone must have quickly rechecked, because he backpedaled after a commercial break.
The highest-paid drug executive last year, Johnson & Johnson CEO Bill Weldon, took home a reported $29.4 million after his company raked in $63.7 billion.
Read more here:
http://tinyurl.com/l6x59a
Then again to a guy like Bloomberg, who's worth an estimated $16 billion, a drug executive who only makes $29.4 million per year probably appears to live a meager existence.
Part of J & J revenues are dependent upon smoking bans, promoted by their partner RWJF. J & J manufactures and owns Nicoderm, Nicoderm CQ, Nicotrol, Commit, etc. Meanwhile those same smoking bans are responsible for massive business closings and job losses around the globe.