The chief executive of Lucid earned significantly more than any other CEO of a publicly-traded car manufacturer in the U.S. last year, receiving compensation worth an eye-watering $379,029,183, data from the Automotive News/Equilar CEO Compensation Survey has revealed.
In 2022, Lucid’s Peter Rawlinson had a base salary of $575,000 but was awarded $372,928,375 worth of stock awards and $5,504,378 in stock option gains. Rawlinson only trailed the chief executive of Nvidia as the highest-paid CEO in the automotive sector who received $506,343,201 in total compensation. Tesla’s Elon Musk was the highest-earning executive last year after receiving $23.5 billion in stock options during 2021 but did not exercise stock options in 2022 nor did he receive a salary, meaning he isn’t featured on this year’s list.
General Motors chief executive Mary Barra came third with compensation totaling $34,106,824, consisting of $2.1 million in base salary and $32,006,824 in stock award gains, bonus and incentive plan compensation, accumulated pension benefits, and deferred compensation balance. Barra’s total compensation was down 45% from 2021 as she didn’t exercise any stock options, Auto News notes.
Ford’s Jim Farley was the third highest-paid automotive chief executive of publicly traded companies in the U.S. but just 14th when also including all companies in the automotive mobility, supplier, dealership, and services industries. He received a total of $18,340,695 in compensation which includes $1.7 million in base salary and the rest through stock award gains, stock option gains, bonus and incentive plan compensation, and deferred compensation.
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The chief executive of Rivian, R.J. Scaringe, earned $1,012,518 in total compensation while Henrik Fisker walked away with $783,255 in total compensation.
The survey also included four Ford and four GM executives below the CEOs. Ford Executive chair Bill Ford was the highest-paid non-CEO earning $17.7 million followed by GM president Mark Reuss who took home $12.8 million.
