I'd guess he has more free time than the random "3rd engineer from the left" on one of his company's projects.
Do you have any evidence to show your affirmation that CEOs work really hard and "often at least 14 hours and many work one weekend days" is true and other's affirmations that they "play golf all day" is absolutely false?
Larry Ellison was renowned for doing massive sales deals of Oracle on golf courses. If you get in 18 holes and leave with $10 million, were you not working?
At executive levels a part of the job deals with relationships, and those are work. Much less so the "nose to the grindstone in front of the computer" sort of work.
Indeed if you get invited away to a person's private island and then they later buy from the company you "work" at then that holiday was far more work than someone spending 12 hour shifts, standing, poring over circuit boards with a soldering iron or hefting rocks with a pickaxe. That's why the management deserve 200 times the salary of the workers. /s
Truly the relationships aren't important unless the CEOs make it that way. They could just do business, decide they need X amount of pressed steel, sign the contract and not play golf and have a luxurious meal. But instead they decide that only companies that kowtow to this ideal of greasing the wheels of industry by fattening the C-grades up should win the contracts.
>If you get in 18 holes and leave with $10 million, were you not working? //
No, you're not working, you're exploiting the work of others. What function did the 18 holes of golf serve except to reinforce a despotic nepotism.
The idea that this is work is interestingly both anti-capitalist (it's an inefficient aberration) and anti-socialist (it's setting people over others but providing no useful function).
An old but concrete example: Andy Grove, in High Output Management, describes a fairly typical 8 to 5 day in which he works until he's tired, with level of fatigue vs level of "doneness" being the deciding factor of when he ends his day.