To print: Click here or Select File and then Print from your browser's menu

This story was printed from silicon.com, located at http://www.silicon.com/

Story URL: http://management.silicon.com/smedirector/0,39024679,11036218,00.htm

Want to know how much GE's Jack Welch spends each month?
You won't believe this...

By Graham Hayday

Published: Friday 01 November 2002

Jack Welch, the much-vaunted former chief exec of General Electric, manages to spend around $365,000 - that's £235,000 - each and every month.

The man - known as 'Neutron Jack' after ruthlessly reducing his company's headcount by around 100,000 during his 20-year tenure as CEO - coughs up nearly $9,000 on food and more than $52,000 on gifts every 30 days or so. He's clearly a good person to have as a friend.

His other Elton John-esque monthly outgoings include $5,480 in country club membership fees, $8,982 on restaurant bills, groceries and drinks, and $16,531 on insurance.

The figures, which were published in The Times today, have come to light on the back of Welch's divorce from his wife Jane.

These figures may sound outrageous, but when you learn that arguably the most admired CEO in history has to maintain three mansions, a holiday home, a lodge and a condominium, you can understand his largesse. And besides, when your income is $2m a month, who's going to notice the odd thousand here and there?

The court papers filed as part of the divorce proceedings also reveal that as a pensioner he receives $1,500 in social security. Like he needs it.