• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, June 24, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Tech Automobiles

Musk doesn’t agree with the amount Lucid Motor is paying their CEO

by Ashmita Maria
September 9, 2023
in Automobiles, Business, Cars, Tech
Reading Time: 2 mins read
0
Lucid Motors CEO Peter Rawlinson
TwitterWhatsappLinkedin

Elon Musk has entered into a controversy for his tweet questioning the practicality of Lucid Motor CEO, Peter Rawlinson’s pay. On Monday, Musk made a post on X, addressing Lucid CEO Peter Rawlinson’s compensation. Reacting to a tweet that labeled Rawlinson as “the highest-earning automotive CEO in 2022,” Musk issued a stern caution to his followers: “Exercise caution when considering companies where executive pay isn’t tied to performance.” 

You might also like

Jony Ive Deal Removed from OpenAI Site Amid Trademark Dispute

Truth Social Targeted in Cyberattack After U.S. Strikes on Iranian Nuclear Facilities

Meta and Yandex Accused of Using Android Loophole to Secretly Track Users

CEO compensation in the automotive industry is always a hot topic for discussion. But, when it involves leading electric vehicle (EV) companies, the conversation becomes even more heated. In 2022, Peter Rawlinson became the talk of the town, not just for his achievements, but for his whopping compensation package. While it might be rare for industry titans to openly critique their counterparts, Elon Musk, the face behind Tesla, didn’t hold back. He posted his views on Rawlinson’s newly-acclaimed title as the highest-paid executive in automotive circles.

Breaking down the numbers: Rawlinson pocketed an enviable $379 million in 2022. This amount comprised a $575,000 base salary, an additional $5.5 million in stock options, and a colossal $373 million in stock awards.

For those diving into SEC filings, this massive payout was by no means a surprise. Lucid Motors’ performance indicators tell a story of achievement. Rawlinson helped the company hit market-cap targets ahead of schedule last year. It’s worth noting that this model of compensation, which is contingent upon performance, is increasingly preferred. Shareholders generally applaud this system. Why? It neatly ties an executive’s monetary rewards to the company’s financial strides and overall value growth.

However, Musk, never one to shy away from controversy, raised an eyebrow at these claims. He pointed out that Lucid’s stock price faced a significant decline of over 82% within 2022. Furthermore, Lucid Motors reported a revenue of just $608.2 million. Given these numbers, Musk’s skepticism seems understandable.

For a clearer picture, one might look at Rawlinson’s peers for a benchmark. His 2022 earnings were 11 times greater than that of GM CEO Mary Barra, who earned $34 million. If that isn’t surprising enough, consider this: He earned 21 times more than Ford’s Jim Farley, who bagged $18.3 million. But what about counterparts in the electric niche? EV startup Rivian Automotive’s CEO, Robert Scaringe, saw a paycheck of approximately $1 million in 2022. Ironically, Rivian’s valuation floated around the $22 billion mark, overshadowing Lucid Motors’ $14 billion.

The bottom line is, the world of electric vehicle CEO compensation is as dynamic as the cars they produce. While performance-based pay is undoubtedly on the rise, industry watchers and stakeholders are keenly observing to ensure there’s a genuine link between value creation and executive payouts.

In the ever-evolving electric vehicle sector, company valuations, stock prices, and CEO compensations will continue to be hot topics. As EVs shape the future of transportation, keeping a pulse on the industry’s financial dynamics becomes paramount.

Tags: Elon Musk tweetsLucid MotorsPeter RawlinsonSpace X
Tweet54SendShare15
Previous Post

Fat finger error in Sensex options at 40x market price; costs trader Rs 78 lakh

Next Post

Virgin Galactic completes third commercial SpaceShipTwo flight

Ashmita Maria

A detail-oriented and organized individual who believes in the power of bringing a change through research based policy-making. With an interest in the varied fields of development and labour economics, political writing and filmmaking, I write when I'm not intellectualizing my problems :)

Recommended For You

Jony Ive Deal Removed from OpenAI Site Amid Trademark Dispute

by Sneha Singh
June 24, 2025
0
Jony Ive Deal Removed from OpenAI Site Amid Trademark Dispute

What began as one of the most buzzed-about collaborations in the tech world has vanished from sight overnight. OpenAI removed marketing documents and videos highlighting its collaboration with...

Read more

Truth Social Targeted in Cyberattack After U.S. Strikes on Iranian Nuclear Facilities

by Harikrishnan A
June 24, 2025
0
Challenges Mount for Truth Social as Financial Struggles Emerge: Can Trump’s Social Platform Weather the Storm?

Tensions between Iran and the United States have escalated beyond the battlefield and into cyberspace, as Iranian-aligned hackers targeted former President Donald Trump’s social media platform, Truth Social,...

Read more

Meta and Yandex Accused of Using Android Loophole to Secretly Track Users

by Harikrishnan A
June 24, 2025
0
Meta and Yandex Accused of Using Android Loophole to Secretly Track Users

Meta and Yandex are facing intense scrutiny after a team of academic researchers revealed that both tech giants exploited a hidden quirk in Android’s operating system to track...

Read more
Next Post
Virgin Galactic completes third commercial SpaceShipTwo flight

Virgin Galactic completes third commercial SpaceShipTwo flight

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?