Donald Trump’s transition team announced Tuesday that ExxonMobil CEO Rex Tillerson would be its pick for secretary of state, adding another multimillionaire business leader to the president-elect’s cabinet, which already counts several billionaires among its ranks and is shaping up to be the wealthiest in modern American history.

As CEO of one of the largest and most powerful public companies in the world, Tillerson received compensation valued at $24.3 million in 2015, ranking him 29th on a list of the 200 highest paid CEOs compiled by the executive compensation research firm Equilar. The pension benefits he will receive, which he has accumulated over a career that spanned more than 40 years at the company, have been valued at $69.5 million. And in a company document filed earlier this month, ExxonMobil said Tillerson has direct ownership of more than 2.6 million shares of ExxonMobil stock, which executive compensation experts say Tillerson would presumably have to divest were he to be confirmed as the nation’s chief diplomat. Read More