Is the CEO working at 4 companies in a transparent manner, approved by the boards of their companies? Then I don't see any problem.
If you want to work at 4 companies and your 4 managers don't have a problem with it, then go for it. Real problem arises when one lie about it and does it stealthily. Lying shouldn't be allowed, neither for CEOs nor for worker bees.
Yeah, this feels like fraud in the case of lying to literally get extra paychecks knowing you don't care if you get fired. I wonder what these people will do when their original employer lays them off, and now their job search becomes harder since they've burned so many bridges.
