London Daily

Focus on the big picture.
Thursday, Sep 04, 2025

Former Shell chief executive Ben van Beurden takes home nearly £10m for 2022 as company profits from high energy prices

Former Shell chief executive Ben van Beurden takes home nearly £10m for 2022 as company profits from high energy prices

There are renewed calls for executive bonuses to be subject to "proper" windfall taxes after Ben van Beurden took home 294 times the median wage in 2022 - or what a typical UK worker would earn in six lifetimes, according to a human rights campaign group.
Shell's chief executive earned £9.7m last year, a 53% pay rise, as the company reported record profits due to elevated global energy prices.

The chief executive for 2022, Ben van Beurden, had his pay increase from £6.3m in 2021.

The nearly £10m figure includes an annual bonus for the year of £2.6m, a salary of £1.4m and £4.9m through a long-term share bonus.

Mr van Beurden stepped down in January and was succeeded by Wael Sawan, Shell's former director of integrated gas, renewables and energy solutions.

The oil and gas company said in its annual report, published on Thursday, that Mr Sawan was appointed with a salary of £1.4m that does not include bonus and other performance-related payments.

But as with Mr van Beurden, Mr Sawan is eligible for a target annual bonus of 125% of his salary and long-term shares worth up to 300% of his salary.

NGO Global Witness said Mr van Beurden's pay award is 294 times the median wage of £33,000.

Fossil fuels campaign leader at the group, Alison Harrison, said Shell's chief executive earned in one year "what a typical UK worker would earn in six lifetimes".

She added: "Surely most of us can agree that one person shouldn't be able to amass such huge wealth on the back of a fossil-fuel-funded war in Ukraine and a global energy crisis?"

Shell had announced annual profits of $39.9bn (£32.2bn) for 2022, doubling from a year earlier and far exceeding the previous record of $31bn in 2008.

The majority of profits came from Shell's gas operations.

Anger at the sums also came from the leader of the Liberal Democrats.

Ed Davey posted on Twitter to say: "Outrageous that the boss of Shell raked in over £10m while families struggle to heat their homes.

"Rishi Sunak's refusal to properly tax these eye-watering bonuses and record profits is mind-boggling and shows how out of touch he is."

Windfall taxes have been introduced on energy producer profits and Shell has been hit with an estimated $2.3bn (£1.86bn) in windfall taxes for 2022.

As a result, it is expected to pay taxes in the UK for the first time since 2017.

The UK windfall tax, announced when Rishi Sunak was chancellor, means energy-making firms pay a 25% levy on profits, which will be phased out when energy prices return to normal - but companies get tax breaks worth 91p for every £1 invested.

Ms Harrison from Global Witness called on the government to extend its windfall tax to include executive bonuses.

"We can't afford to keep on propping up an industry that prioritises the profits of the wealthy few over the basic needs of ordinary people," she said.
Newsletter

Related Articles

0:00
0:00
Close
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Pickles are the latest craze among Generation Z in the United States.
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
WhatsApp is rolling out a feature that looks a lot like Telegram.
Investigations Reveal Rise in ‘Sex-for-Rent’ Listings Across Canada Exploiting Vulnerable Tenants
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
×