The W3C CEO won't be working for money, they'll be working for the opportunity and the purpose. There's relatively few people who bring the necessary qualifications to do that job, too.
The people who take these kinds of positions are busy and end up traveling and communicating a lot. They don't need that much money for their private lifestyle, their goal isn't to retire in a beachside villa.
Compensation is not nothing, and there is plenty of negotiation, of course, but it's hardly the priority in this transaction. It's whether it makes sense.