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GM’s Mary Barra 3rd Highest-Paid Automotive CEO In 2022

GM CEO Mary Barra was the third highest-paid automotive CEO last year, according to a recent report. Barra’s compensation for the 2022 calendar year was substantially greater than that of Ford CEO James Farley. The report indicates that Barra’s compensation fell substantially between 2021 and 2022.

Mary Barra in front of a Cadillac Lyriq EV.

According to Automotive News, which cites a study from Equilar Inc., GM CEO Mary Barra’s total compensation for the 2022 calendar year was $34,106,824, down from $62,260,812 in 2021. Note that the $34.1 million figure for 2022 differs from the $28.9 million figure reported by Detroit Free Press previously.

The Automotive News report states that Barra’s base salary for 2022 was $2.1 million, with $6.2 million received in bonuses and incentive plans, $24.6 million in stock award gains, $2.1 million in accumulated pension benefits, $4.7 million in deferred compensation, and $1.1 million in other compensation. Although Barra’s compensation was down significantly from 2021, the GM CEO’s base salary was unchanged. However, Barra did not exercise any options in 2022, while gaining $26.5 million in options in 2021.

Meanwhile, Ford CEO Farley was 14th on the list, with a total compensation amounting to $18,340,695. Stellantis CEO Carlos Tavares was not included in the study, as the automaker is based overseas, but reportedly received $26 million in compensation.

The top two CEOs in the study eclipse the rest of the entries by a considerable margin. Lucid Group CEO Peter Rawlinson was ranked second on the list with a total compensation of $379,029,183, more than eleven times the compensation of GM CEO Mary Barra. Lucid produces high-end electric vehicles. At the top of the list was Nvidia CEO Jensen Huang, who reportedly received $506,343,201 in compensation for 2022. Nvidia designs and supplies computer chips for use in automotive applications, including self-driving vehicles.

The median CEO compensation for 2022 was measured at $12.4 million, down 3.9 percent compared to 2021. According to researchers, the decline is likely the result of smaller bonuses paid in 2022.

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Jonathan is an automotive journalist based out of Southern California. He loves anything and everything on four wheels.

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