The highest-paid US chief executive collected $US702.4 million ($842.56 million) in compensation in 2008 as the recession deepened, a report by a shareholder rights organisation shows.

The top honour went to Stephen Schwarzman, CEO of investment firm Blackstone Group, who received $US699.7 million ($839.32 million) in shares vested after the company's public offering, according to the report by the Corporate Library, which was released on Thursday.

Combination photo from file photo shows Blackstone Chief Executive Stephen Schwarzman (left) and Oracle Chief Executive Larry Ellison. Credit:Reuters

Schwarzman's stock holdings are subject to "a performance-based clawback provision," which means he might have to give back some of that, and at least 25 per cent of the shares must be retained, according to the report on the top 10 CEO compensation packages.

But the Corporate Library, which monitors corporate governance on behalf of shareholders, said Schwarzman's entire compensation package "was decided not by a compensation committee but by Mr Schwarzman himself".