Mary Barra

Mary Barra Net Worth

Explore Mary Barra’s net worth, salary, career, and leadership at General Motors. Discover her achievements, board positions, awards, and personal life. Updated for 2024.

Mary Barra at a Glance

  • Categories: Business, Business > CEOs
  • Net Worth: $90 Million
  • Birthdate: Dec 24, 1961 (62 years old)
  • Birthplace: Royal Oak, Michigan, U.S.
  • Profession: Chair and CEO, General Motors

Mary Barra’s Net Worth, Salary, and Career: A Deep Dive

Net Worth and Salary: The Financial Picture

Mary Barra, the current chair and CEO of General Motors (GM), has amassed a substantial net worth, estimated at $90 million. This figure reflects her successful career trajectory and leadership at one of the world’s largest automakers. Her role as CEO places her at the helm of a global corporation, influencing not only the automotive industry but also broader economic trends.

Compensation and Stock Holdings: Earnings Over Time

Mary Barra’s compensation package has been a subject of interest, reflecting the high-stakes environment of the automotive industry. Over her first decade as CEO, Barra earned approximately $200 million in total compensation, including salary, bonuses, benefits, and equity grants. While her base salary is $2 million, her total annual earnings typically reach $20-30 million, demonstrating the significance of performance-based incentives and stock options.

Here’s a breakdown of her compensation in recent years:

  • 2020: Total compensation of $23.7 million, including a $2 million salary, $13.1 million in stock awards, $3.75 million in options, and a $3.78 million performance award.
  • 2021: Total compensation of $29,136,780, with a $2.1 million salary, over $7.64 million in bonus pay, about $3.94 million in stock options, and nearly $14.6 million in stock awards.
  • 2022: Total compensation of $28,979,570, including a $2,100,000 salary, a $6,258,000 bonus, $4,875,010 in stock options, $14,625,000 in stock awards, and other compensation totaling $1,121,560.

In addition to her substantial earnings, Mary Barra holds a significant amount of GM stock. As of recent reports, she owns at least 1,127,563 units of General Motors stock. While this represents a small percentage of the company’s total outstanding shares (approximately 0.082% as of September 30, 2023, when there were roughly 1.378 billion shares outstanding), it still reflects a substantial personal investment and aligns her interests with the company’s long-term success.

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Early Life and Education: Building a Foundation

Born Mary Makela on December 24, 1961, in Royal Oak, Michigan, Mary Barra’s background includes Finnish heritage through her parents, Eva and Ray. Her upbringing in a diverse environment likely instilled a strong work ethic and a global perspective. Her educational journey laid the groundwork for her future success. She attended the General Motors Institute (now Kettering University), where she earned a Bachelor of Science degree in electrical engineering in 1985. This technical foundation provided her with a deep understanding of the automotive industry’s engineering and manufacturing processes.

Furthering her education, Barra attended the Stanford Graduate School of Business on a GM fellowship, obtaining a Master of Business Administration degree in 1990. This advanced degree equipped her with the business acumen and leadership skills necessary to navigate the complexities of a large corporation.

General Motors: The Rise to CEO

Mary Barra’s career with General Motors began in 1980 as a co-op student. Her initial responsibilities involved hands-on tasks such as checking fender panels and examining hoods, giving her an intimate understanding of the manufacturing process from the ground up. Over the decades, Barra climbed the corporate ladder, holding various engineering and administrative positions. These included managing the Detroit/Hamtramck Assembly plant, giving her experience in operations management.

Key milestones in her career path include:

  • 2008: Vice President of GM’s global manufacturing engineering division.
  • 2009: Vice President of global human resources.
  • 2011: Executive Vice President of global product development.
  • 2013: Expanded role to include global purchasing and supply chain.

In January 2014, Barra made history by succeeding Daniel Akerson as the CEO of GM. This appointment made her the first female CEO of a “Big Three” automaker, a significant achievement that broke barriers and inspired future generations of women in leadership. Her ascent to the top of General Motors underscores her exceptional skills, dedication, and strategic vision.

Challenges and Achievements: Leading GM Through Transformation

As CEO, Mary Barra has faced numerous challenges, including significant safety recalls and industry-wide shifts towards electric vehicles and autonomous driving technologies. In her early years, GM faced scrutiny over faulty ignition switches, which led to significant recalls and reputational damage. Barra responded by implementing new policies to encourage employees to report problems and improve the company’s safety standards. This demonstrated her commitment to accountability and transparency.

Under Barra’s leadership, GM has made significant investments in electric vehicles (EVs) and autonomous driving technology. The company has made strategic acquisitions, such as the driverless technology startup Strobe, to position itself at the forefront of innovation in the automotive sector. Her focus on EVs aligns with global trends towards sustainable transportation and positions GM for long-term growth in a rapidly changing market. These efforts reflect her strategic foresight and adaptability in a dynamic industry.

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Board and Council Positions: Leadership Beyond GM

Mary Barra’s influence extends beyond her role at General Motors. She holds several board and council positions, reflecting her leadership and expertise in various fields. Her involvement in these organizations demonstrates her commitment to contributing to societal and economic progress.

Some of her notable positions include:

  • Boards of Directors: Detroit Economic Club, Detroit Country Day School, and The Walt Disney Company.
  • Boards of Trustees: Stanford University, Stanford Graduate School of Business Advisory Council, and Duke University.
  • Other: Homeland Security Advisory Council (appointed in 2022).

These diverse positions allow her to contribute to education, economic development, and national security, showcasing her broad impact beyond the automotive industry.

Honors and Awards: Recognition of Excellence

Mary Barra has received numerous accolades and honors, recognizing her achievements in business and leadership. These awards reflect her significant contributions to the automotive industry and her influence as a role model.

Some of her prominent awards include:

  • Ranked as Fortune magazine’s Most Powerful Woman multiple times.
  • 2018: Ranked fourth on Forbes’ Most Powerful Women list.
  • 2018: Yale Chief Executive Leadership Institute’s Legend in Leadership Award.
  • 2021: Included in the Time 100 and the inaugural Forbes 50 Over 50 list.
  • Received the Larry Foster Award for Integrity in Public Communication at the Arthur W. Page Center Awards.
  • Honorary degrees from the University of Michigan and Duke University.

These awards highlight her exceptional leadership, strategic vision, and impact on the business world.

Personal Life: Family and Interests

Beyond her professional achievements, Mary Barra has a fulfilling personal life. She is married to Tony, whom she met while they were both students at the General Motors Institute. The couple has two children, providing a balance between her demanding career and family life. They reside in Northville Township, a western suburb of Detroit, Michigan, and she also owns an apartment in Downtown Detroit. Her personal life provides a foundation of support and perspective that complements her leadership roles.