In government, C-level people make less than $200k, usually a lot less, yet seem to be able to competently lead organizations consisting of tens of thousands of people. One commissioner of a multi-billion dollar agency that I knew drove a late 90s Accord a few years ago.

They are also subject to invasive and strict ethics and disclosure rules revolving door policies.

CEOs mint money because of social connections, not value to the business. The board members who implicitly endorse graft should themselves be subject to criminal sanction.