A new report reveals the CEOs of companies who received the most money in 2024, particularly those in the automotive industry. It’s not just the manufacturers that are responsible for vehicle production, but also the technology that is applied in various types of transportation.
Automotive News surveyed 61 suppliers ranging from public dealership groups and mobility services to service providers. The total compensation gained by their respective leaders accounts for—but is not limited to—base pay, bonuses, incentive plans, stock option gains (or losses), pension benefits, and deferred pay. From there, a clear picture emerges.
Perhaps surprising to no one, the rise of AI means Nvidia's Jensen Huang retains the number-one spot in total earnings, accumulating $197.6 million in 2024. Despite the high pay, it is considerably less than $288 million he earned in 2023.
Comfortably, the runner-up is the CEO of Uber Technologies, Dara Khosrowshahi, who raked in nearly $115 million thanks to stock options. Craig Arnold of Eaton Corporation took home almost $60 million for third place before retiring earlier this year.
Mary Barra is one of two women to break into the top ten, coming in seventh. The head honcho of General Motors earned $29.8 million to win the title of the highest-paid CEO of a car company. Jim Farley of Ford fell right behind her at $27.6 million. Both earned more money in 2024 compared to the year prior.
Former Stellantis CEO Carlos Tavares earned $23.9 million before resigning. The only reason he was not included on the list is because Stellantis is not technically an American company, despite controlling stakes in Dodge, Chrysler, and Jeep. Meanwhile, Rivian CEO RJ Scaringe’s income went up considerably, from $1.3 million in 2023 to just under $14 million last year, pointing to positive signs for the company.
As for the infamous Tesla CEO? Elon Musk received no money in 2024 after being embroiled in a dispute over his $56 billion pay plan. That may change for this year, however, as he was recently awarded 96 million company shares that hold a value of $29 billion as of this writing.
