Lucid CEO Peter Rawlinson topped a survey of the most highly paid auto maker CEOs. Tesla CEO Elon Musk has an opinion about that.
Tesla CEO Elon Musk has some thoughts about CEO compensation, and he has in his crosshairs Lucid CEO—and former Tesla employee—Peter Rawlison.
The number cited in the survey was $379 million for Rawlinson, who was at one time chief engineer of the Model S sedan, Tesla’s first production vehicle. Lucid’s proxy reports total compensation in 2022 of about $600,000 in cash and equivalents. The company preparing the survey said in an email that “methodology for that study is realized pay, so it includes the value of stock vested and options exercised during the year instead of value of equity granted during the year.
Base salary, however, rarely accounts for a majority of total compensation over time. Barra has earned total compensation of roughly $26 million a year on average for the past three years. The comparable number for Ford Motor CEO Jim Farley is about $19 million a year. Newsletter Sign-up Before investors point out to Musk that he has made more than Rawlinson over three years and that those in glass houses shouldn’t throw stones, Tesla stock is up more than 1,300% over the past five years, rising to about $250 from less than $18. Sales in 2018 amounted to about $21 billion in 2018, and 2023 sales are forecast to be $100 billion.
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