Elon Musk has topped another ranking. Authoritative publication Fortune has named the billionaire as the most overrated CEO in the United States. Notably, the head of Tesla and Space X has been leading this list for the second year in a row.
Earlier, the businessman, whose massive $55 billion pay package at Tesla was struck down by a Delaware judge, announced his intention to move the company’s corporate listing to Texas. Such a decision came after the court accused Musk of making provocative statements. The head of the electric carmaker claimed that the money would be used to finance interplanetary travel. However, the Delaware judge tossed out Musk's compensation valued at $55 billion, calling it an "incomprehensible figure."
Walt Disney CEO Robert Iger was ranked second on the list of the most overrated top executives in the United States. Over the year, Disney shares fell by 9%, signaling a continued bearish trend. Earlier, in March 2021, the company’s stock plunged by an impressive 50%. At the same time, Robert Iger is an experienced employee who spent more than four decades at the company, including 15 years as its CEO. In 2022, he returned to Disney after being succeeded by Bob Chapek in 2020 to address the company's poor performance. The businessman decided to lay off 7,000 employees and cut costs by $5.5 billion, but that failed to remedy the situation.
