FILE PHOTO: The logo of Swiss bank UBS is seen at an office building in Zurich, Switzerland January 27, 2017. REUTERS/Arnd Wiegmann/File Photo
The UBS report could have been more balanced © Reuters

In your front-page news story “World’s billionaires are victims of bad press, says boss of UBS ultra-rich unit” (November 9), Josef Stadler claims, from conclusions in a UBS report, that there “was a bias in the media” regarding billionaires who run listed companies making “too much money on the back of poor people”.

That report’s conclusions and Mr Stadler’s statements would be more balanced if they had also revealed that between 1978 and 2018 chief executives’ compensation grew 940 per cent compared to the typical worker’s compensation that rose only 12 per cent in that time. Had CEOs shared more of their companies’ success with the employees who contributed to that success, this shocking disparity would not have occurred and they would not be complaining that they are victims of bad press.

James Hanshaw
Zurich, Switzerland

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