this post was submitted on 20 May 2025

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After donating $1m to Trump and axing DEI, Target CEO watches his salary get chopped in half by tariffs and angry shoppers (sinhalaguide.com)

submitted 2 days ago by Merlu@lemmy.ml to c/upliftingnews@lemmy.world

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[–] PM_BOOBS_FOR_POEM@lemmynsfw.com 132 points 2 days ago (2 children)

Wanna hate this guy even more:

He was so old, he couldn't actually be Target's CEO and the board had to make an exception to let him continue working there. What was that about DEI?!
Back in the COVID years when Target was doing gangbusters, they "adjusted" their bonus expectations and gave everyone who worked their peanuts while having the third best year on paper.
Target has been secretly laying off entire teams every month and offshoring, just under the limit to not actually have to announce it publicly.

Source: a buddy of mine who works there that's super pissed, but won't really leave because he makes $200k/yr. He's riding till it dies.

[–] SouthEndSunset@lemm.ee 10 points 1 day ago (1 children)

Likes DEI when it suits, it seems.

[–] CafecitoHippo@lemm.ee 13 points 1 day ago

It's always "Fuck you, I got mine." All these white women that complain about DEI despite being the ones that benefited the most from DEI are just stupid.

[–] DoubleSpace@lemm.ee 4 points 1 day ago

What kind of work does he do for them for 200k?

[–] Hayduke@lemmy.world 210 points 2 days ago

He still “earned” 753x more than the median Target salary. Crushing, I am sure. How will he ever survive?

[–] jaaake@lemmy.world 138 points 2 days ago (1 children)

Cornell, who has led the Minneapolis-based retail chain since 2014, received $9.9 million in total compensation for 2024, an 87% drop from his 2020 peak of $77.5 million.

What the actual fuck? Why are humans being paid $10m A YEAR, let alone over $75m?!

[–] GoofSchmoofer@lemmy.world 71 points 2 days ago (42 children)

I love breaking down these huge salaries into 2 week chunks because I think it brings the disparity into perspective more for people since most of us get paid 2x a month.

For $75 million that is a twice a week paycheck (I know CEOs don't get paid this way) of $3,125,000!

That's the total of 1000 employees 2 week paychecks if they all made ~ $40 an hour

[–] gramie@lemmy.ca 26 points 1 day ago (1 children)

$75,000,000 ÷ 26 = $2,884,614

$2.8 million every 2 weeks, not $3.125 million twice a week.

The reality is bad enough without exaggeration.

[–] Infinite@lemmy.zip 21 points 1 day ago (1 children)

They tried to do twice a month and got their wires crossed.

[–] GoofSchmoofer@lemmy.world 12 points 1 day ago

That is exactly what I did. I'm not a maths person. So maybe me trying to do math in a internet comment section wasn't the best decision.

[–] cenzorrll@lemmy.ca 35 points 2 days ago* (last edited 2 days ago) (1 children)

What it must be like to be able to retire after your onboarding seminar.

[–] jballs@sh.itjust.works 16 points 1 day ago

When you put it that way, that's fucking insane. $2 million in retirement plus having my house paid off has always been my retirement goal. Granted, by the time I reach that goal, inflation and the cost of living will probably make that not enough.

Still, to think this asshat makes that in less than 2 weeks is fucking ridiculous. Like why even work at that point? I realize "work" for a CEO is mostly golfing and expensive dinners, but still...

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[–] NotAnotherLemmyUser@lemmy.world 148 points 2 days ago (1 children)

I'm not sure that there's any aspect about this news that's truly "uplifting".

[–] themurphy@lemmy.ml 54 points 2 days ago (4 children)

Not even the slightest uplifting.

Stock holders and owners are probably dictating these changes. Not the CEO alone.

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[–] jjjalljs@ttrpg.network 88 points 2 days ago (4 children)

If I had $9 million dollars I would be done. That's line a six figure annual salary if you put it in the safest of safe investments.

Rich people suck

[–] FlashMobOfOne@lemmy.world 22 points 1 day ago* (last edited 20 hours ago) (1 children)

You need enough capital that you can make enough in capital gains and dividends to live off of in a 4% down year.

Most people in this country could live off of $2,500,000 if it's stashed in an index fund. $9,000,000 is more than anyone ever needs.

[–] jjjalljs@ttrpg.network 15 points 1 day ago (6 children)

You can get 4% from a high yield savings account. That's insured. That's still $360,000 a year (taxed as income). You don't need to expose yourself to a lot of markets and "down years" . I mean, if the us government collapses and insured accounts are lost we all have bigger problems.

At 2.5mm you'd still be fine at 4%. Six figure salary for doing jack squat.

Of course, not everyone can budget and they might burn into their principle. But, like, don't do that. 🤷

[–] cabb@lemmy.dbzer0.com 10 points 1 day ago* (last edited 1 day ago) (1 children)

Sure but inflation will eat into that over time. The point of the market approach is you can withdraw that amount in real dollars for 30 years after accounting for interest and inflation

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[–] tomkatt@lemmy.world 7 points 1 day ago (2 children)

Yields are down a bit right now, unless you're willing to go with a sketchy, not sure if FDIC insured "bank."

Currently I'm seeing rates of around 3.5%, or 3.63 APY.

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[–] WhiskyTangoFoxtrot@lemmy.world 27 points 1 day ago (1 children)

If I had $9 million dollars I'd buy nine green dresses but not real green dresses, that's cruel.

[–] ivanafterall@lemmy.world 7 points 1 day ago

I'd buy all the fanciest ketchups. Dijon ketchup!

[–] Akasazh@feddit.nl 19 points 1 day ago (1 children)

Thats why you're not rich. You have to be monomanic to keep wanting more money

[–] RestrictedAccount@lemmy.world 11 points 1 day ago (1 children)

Most of getting that rich is choosing the right parents.

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[–] Bubbaonthebeach@lemmy.ca 28 points 1 day ago

They didn't heed the warning of Pillow Guy's demise. There many big US businesses that are going to hurt badly in the coming months and years - all thanks to their support of Trump. It's wonderful.

[–] Feathercrown@lemmy.world 7 points 1 day ago

[–] OldChicoAle@lemmy.world 38 points 1 day ago (1 children)

Would be nice if he lost it all

[–] Raiderkev@lemmy.world 4 points 1 day ago

Ay, old Chico is my jam. Haven't had it in a minute. I just looked it up and Total wine and more has it. I might have to make a journey to go get it. Haven't had it since I lived in the city of trees.

[–] dan69@lemmy.world 6 points 1 day ago

Article title sounds like an a abusive relationship.

[–] Maeve@kbin.earth 56 points 2 days ago

Target’s CEO pay ratio now stands at 753 to 1, with median employee pay at $27,090.

[–] Phoenicianpirate@lemm.ee 5 points 1 day ago

I can think of other things this guy could use chopped.

[–] yesman@lemmy.world 20 points 2 days ago* (last edited 2 days ago) (2 children)

For those of you not aware of Target's recent troubles, here is an astrophysicist explaining why they suck. : https://www.youtube.com/watch?v=lPVSj9rcK-E With data!

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