Lucid CEO Peter Rawlinson is the highest-paid CEO in the publicly-traded car manufacturing sector for the year 2022. According to data from the Automotive News/Equilar CEO Compensation Survey, Rawlinson’s compensation package reached a whopping $379,029,183 (that’s $379 million), more than 10 times higher than the second place CEO, Mary Barra from General Motors (GM).
Breaking down the numbers, Rawlinson’s base salary was a modest $575,000. However, the majority of his compensation came in the form of stock awards, totaling $372,928,375. Additionally, he realized $5,504,378 in stock option gains. This was with Lucid (LCID) stock dropping more than 82% through 2022 to end the year at just under $7 per share.
Rawlinson’s compensation package was enough to put him in second position on the list of the highest-paid CEOs in the automotive sector, trailing only the CEO of Nvidia, who received $506,343,201 in total compensation. (via Automotive News)
GM CEO Mary Barra secured third spot with a total compensation of $34,106,824. Her compensation package consisted of a $2.1 million base salary and $32,006,824 in stock award gains, bonuses, incentive plan compensation, accumulated pension benefits, and deferred compensation balance. Interestingly, Barra’s total compensation in 2022 marked a 45% decrease compared to the previous year, primarily due to her decision not to exercise any stock options.
Jim Farley of Ford followed closely behind as the third highest-paid automotive CEO among publicly traded companies in the U.S., ranking 14th when including all companies in the automotive mobility, supplier, dealership, and services industries. His total compensation amounted to $18,340,695, with a base salary of $1.7 million and the remainder coming from stock award gains, stock option gains, bonuses, incentive plan compensation, and deferred compensation.
Rounding out the list, R.J. Scaringe of Rivian earned $1,012,518 in total compensation, while Henrik Fisker received $783,255. Scaringe last week received a major pay raise.
You might be wondering where Tesla CEO Elon Musk placed on the list, but his name was at the very bottom of the list in 2022. While Musk had received $23.5 billion in stock options during 2021, he did not exercise any stock options in 2022 and opted not to receive a salary last year.