FCA CEO Sergio Marchionne is Absurdly Rich
Fiat Chrysler CEO Sergio Marchionne was paid handsomely for his efforts in 2017, receiving $12 million in compensation from the automaker and another $36 million in stock options.
According to Bloomberg, Marchionne now owns $362 million in FCA shares, another $190 million in Ferrari shares and $169 million in truck and tractor company CNH Industrial. The Italian-Canadian executive used roughly one-third of his 2.8 million FCA shares to pay taxes in 2017, but thanks to the strong performance of the stock, the 1.8 million shares left are still worth more than the initial stock grant.
Marchionne may be one of the highest paid executives in the auto industry, but it’s hard to argue that he doesn’t deserve such compensation. He returned Fiat to profitability less than two years after moving into the position in 2006, and also oversaw the 2014 merger of Fiat and Chrysler. Additionally, it was Marchionne who hosted Ferrari’s successful IPO in 2015. Ferrari shares, traded under the RACE ticker symbol, have risen from $56 at the time of the IPO to $130 a share.