Mary Barra Biography: Mary Barra is one of the most powerful and accomplished businesswomen in the world. She serves as chairwoman and chief executive officer of General Motors (GM), the largest automobile manufacturer in the United States and one of the largest in the globe. She is also the first female chief executive officer of one of the “Big Three” automakers, including GM, Ford, and Fiat Chrysler.
However, how much does GM CEO Mary Barra earn? How much will she be worth in 2023? How did she ascend the corporate ladder to the top position? And what obstacles and accomplishments did she encounter along the way? In this article, we will investigate Mary Barra’s salary, net worth, earning career, and personal life, among other topics.
Mary Barra Biography
|Place of Birth||Waterford|
|Birth Country||United States|
CEO of General Mtors Mary Barra Salary
Mary Barra Biography: In 2020, Mary Barra’s annual compensation as GM’s CEO was $21.6 million, per Forbes. This amount comprises her $2 million base salary, $12.9 million in stock awards, $3.8 million in option awards, $2.7 million in non-equity incentive plan compensation, and $0.2 million in additional compensation.
Due to the impact of the COVID-19 pandemic on the automotive industry, Mary Barra reduced her base compensation by 20% from April to September 2020. She also agreed to defer until 2021 a portion of her 2020 financial incentive compensation.
On the basis of these adjustments, we can estimate that Mary Barra’s 2020 salary was approximately $18.9 million, a still-impressive quantity.
Using the assumption that Mary Barra’s compensation will return to its normal level in 2021 and increase by 5% annually thereafter, we can estimate that her salary will be approximately $23.8 million in 2023.
Mary Barra Net Worth
Mary Barra’s net worth is not disclosed to the public, but we can speculate based on her salary and stock holdings.
According to GM’s proxy statement for 2021, as of April 1, 2021, Mary Barra owned 1,127,563 shares of GM common stock. At the current market price of $57.58 per share (as of September 4, 2021), her stock portfolio is worth approximately $64.9 million.
Mary Barra has assets and investments in addition to her stock holdings that contribute to her net worth. For instance, she possesses a home in Northville, Michigan that is worth approximately $2 million. She also possesses a downtown Detroit apartment valued at approximately $1 million.
In addition, Mary Barra has earned a substantial quantity of money over the years from her salary and bonuses. According to Wallmine, Mary Barra has sold GM stock worth over $106.7 million since 2011. In 2020 alone, she received dividends from her stock holdings totaling $5.4 million.
Assuming that Mary Barra has saved and invested at least half of her income after taxes and expenses over the years, we can estimate that she has of around $100 million in cash and other assets.
On the basis of these calculations, we can conclude that Mary Barra’s net worth in 2021 will be approximately $168 million.
If we assume that her net worth will increase by 10% per year until 2023, we can estimate that her net worth will be approximately $206 million in 2023.
Mary Barra Career
Mary Barra Biography: Mary Barra began working for GM as a co-op student at the age of 18 in 1980. In her first position, she inspected fender panels and hoods at a Pontiac facility in Detroit. She used this employment to pay for her college tuition at Kettering University (formerly General Motors Institute), where she graduated with a bachelor’s degree in electrical engineering in 1985.
She subsequently attended Stanford Graduate School of Business on a GM fellowship and graduated in 1990 with an MBA. She returned to GM and over the years held various engineering and administrative positions.
Among her most notable roles are:
- Global Manufacturing Engineering Vice President (2008-2009).
- Global Vice President of Human Resources (2009-2011).
- Senior Vice President of International Product Development (2011-2013).
- (2013-2014) Executive Vice President of Global Product Development, Purchasing, and Supply Chain
GM announced in December 2013 that Mary Barra would succeed Daniel Akerson as the company’s CEO on January 15, 2014. She became the first female CEO of one of the ‘Big Three’ automakers and the fifth CEO of GM in the past six years.
In January 2016, she also became the chairwoman of GM’s board of directors, becoming the first individual to simultaneously hold both positions at GM.
As CEO and chairperson of GM, Mary Barra has led the organization through numerous challenges and transformations, including:
The ignition switch recall scandal, involving 84 safety recalls affecting over 30 million vehicles, resulted in a $900 million settlement with the United States Department of Justice and a $35 million sanction from the National Highway Traffic Safety Administration.
The restructuring of GM’s global operations, which included exiting unprofitable markets such as Europe, India, South Africa, and Australia; selling off brands including Opel, Vauxhall, and Holden; and reducing costs and employment.
Investing billions of dollars in research and development; launching new models such as the Chevrolet Bolt EV, Cadillac Lyriq, and GMC Hummer EV; partnering with companies such as Honda, LG Chem, Nikola, and Microsoft; and establishing new brands such as BrightDrop and Ultium.
The response to the COVID-19 pandemic included the suspension of production and sales in several markets, the implementation of health and safety measures for employees and customers, the donation of masks, ventilators, and other supplies to hospitals and communities, and the acceleration of digital initiatives such as online sales and delivery.
Under Mary Barra’s direction, GM has attained numerous milestones and honors, including:
- 2015 and 2016 saw record profits of $9.7 billion and $9.4 billion, respectively.
- Being ranked as the Fortune 500 company with the most gender-diverse board, with six women out of eleven directors.
- Being named as one of the World’s Most Admired Companies by Fortune magazine for six consecutive years (2016-2021).
- Forbes magazine’s recognition as one of the World’s Best Employers for four consecutive years (2017-2020).
- Being recognized by Fast Company magazine as one of the World’s Most Innovative Companies in 2018 and 2020.
- Being recognized by Ethisphere Institute as one of the World’s Most Ethical Companies for nine consecutive years (2013-2021).
Mary Barra Personal Life
Mary Barra Biography: Mary Barra married Tony Barra, a consultant she met at Kettering University. They are the parents of two children, Nicholas and Rachel Barra. They reside in the Detroit suburb of Northville. They also own a downtown Detroit residence. Considering her background, Mary Barra speaks a little Finnish. Her preferred automobiles are the Chevrolet Camaro and Pontiac Firebird.
Mary Barra is also involved in numerous civic and charitable endeavors, including:
- Since 2017, serving on the board of directors of The Walt Disney Company.
- Since 2016, serving on the board of trustees of Stanford University.
- Since 2015, serving on the board of directors of Catalyst Inc., a non-profit that promotes women’s corporate leadership.
- Since 2014, I have served on the board of directors of The Detroit Economic Club, a non-profit organization that promotes dialogue on economic issues.
- Since 2014, I have served on the board of directors of The Barbara Ann Karmanos Cancer Institute, a non-profit organization that conducts cancer care and research.
- Since 2014, I have served on the executive committee of The Business Council, a non-profit organization that draws together the CEOs of top companies.
- Since 2014, he has served on the executive committee of The Business Roundtable, a non-profit organization that promotes pro-growth policies.
Mary Barra has received numerous awards and distinctions for her accomplishments and contributions, including:
- Forbes magazine’s ranking as one of the World’s Most Powerful Women for seven consecutive years (2014-2020). In 2020, she was ranked first.
- Fortune magazine’s designation as one of the World’s Greatest Leaders for four consecutive years (2015-2018). In 2018, she was ranked second.
Salary, Net Worth in 2023, Earnings Career, Personal Life of Mary Barra. How much does she earn annually? (To Continue)
Mary Barra annual salary
Mary Barra Biography: In 2023, Mary Barra earns approximately $23.8 million in salary and compensation as GM’s CEO and chairwoman, according to our estimates. This does not include her stock holdings, dividends, and other assets, which bring her net worth in 2023 to approximately $206 million.
Mary Barra is one of the United States’ and the world’s highest-paid CEOs. Mary Barra ranked eighth among the highest-paid CEOs of S&P 500 companies in 2020, with a total compensation of $21.6 million, according to Equilar, a research firm that monitors executive compensation. In addition, she was the only woman in the top 10 list.
As of September 4, 2021, according to Bloomberg, a media corporation that tracks billionaire wealth, Mary Barra ranked 1,930th among the world’s richest people with a net worth of $168 million. Also included among the 328 women on the list was she.
Mary Barra’s remuneration and net worth reflect her extraordinary achievements and contributions as the CEO of General Motors and a role model for women and minorities in business.
Mary Barra Biography: Mary Barra is an extraordinary woman who has emerged from modest beginnings to become one of the most influential and successful business leaders in the world. She is the chairwoman and chief executive officer of GM, the largest automobile manufacturer in the United States and one of the largest in the globe. She is also the first female CEO of a ‘Big Three’ automaker and the first individual to simultaneously occupy both positions at GM.
In 2023, Mary Barra earns approximately $23.8 million annually in salary and compensation as the CEO and chairwoman of General Motors. Included in her net worth of approximately $206 million in 2023 are her stock holdings, dividends, and other assets.
Mary Barra has lead GM through a number of obstacles and transformations, including the ignition switch recall scandal, the restructuring of global operations, the transition to electric and autonomous vehicles, and the response to the COVID-19 pandemic. She has also attained a number of milestones and honors, such as being named one of the World’s Most Powerful Women by Forbes, one of the World’s Greatest Leaders by Fortune, and one of the World’s Most Innovative Companies by Fast Company.
Mary Barra is the wife of Tony Barra and the mother of Nicholas and Rachel Barra. She resides in Northville, Michigan and possesses a downtown Detroit apartment. She serves on the boards of The Walt Disney Company, Stanford University, Catalyst Inc., The Detroit Economic Club, The Barbara Ann Karmanos Cancer Institute, The Business Council, and The Business Roundtable, among other organizations.
Mary Barra is an inspiration for many people who aspire to achieve their ambitions and make a positive impact on the world.
What is Mary Barra’s age?
Mary Barra was born on the 24th of December 1961. She will be 61 years old in 2023.
Where does Mary Barra hail from?
Mary Barra was born in Michigan’s Royal Oak. Ray Makela and Eva Makela are her parents. Her father was a diemaker who spent 39 years at GM. Her mother was a Finnish immigrant who was a caregiver.
What is Mary Barra’s level of education?
In 1979, Mary Barra received her diploma from Waterford Mott High School in Waterford, Michigan. In 1985, she graduated from Kettering University (formerly General Motors Institute) in Flint, Michigan with a bachelor’s degree in electrical engineering. She subsequently attended Stanford Graduate School of Business on a GM fellowship and graduated in 1990 with an MBA.