One Man’s $75 Million Perk Triggers Indignation in Denmark
- Big bonuses and scandals seen undermining trust in finance
- Danes expected to vote for a change of government on June 5
Bo Nilsson is a name forever associated in Denmark with an income that sparked national indignation after he made $75 million. As chief executive officer of a digital payments firm, Nets A/S, he took home roughly 1,500 times what the average Dane earns a year and well over 300 times what the Danish prime minister is paid.
Inequality is emerging as a key theme ahead of Denmark’s general election on June 5. According to the OECD, income disparities in Denmark have grown 22% since 1995, one of the highest increases in the rich world. A recent report from Deloitte and Kraka, a Danish think tank, estimated that the share of total income owned by the richest 1% of Danes has risen from around 7% in the 1990s to roughly 11% today. That’s more in line with countries like the U.K. than with Scandinavian norms.