$12.7MM/year taxed at 30% (remember, these are workers) means $9MM/year. Presuming they spend half of that it would take 3 years to get to the 1% threshold ... many CEOs don't make it 3 years.

Basically, Fortune 500s are probably minting about 100-200 1 percenters a year. A drop in the bucket compared to inherited and capital gains wealth.