Álvarez-Pallete earned €44.5 million from Telefónica in 2025, more than half of which came from severance pay.

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José María Álvarez Pallete, president of Telefónica. — José María Álvarez Pallete, former president of Telefónica. CRISTINA CALDERER

24/02/2026

1 min

Former Telefónica CEO José María Álvarez-Pallete received a total compensation of 44.51 million euros from the company in 2025. More than half, 23.5 million, is severance pay.

Álvarez-Pallete earned €44.5 million from Telefónica in 2025, more than half of which came from severance pay.

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