Mary Barra has been in the spotlight since being appointed as General Motors’ first female chief executive officer in 2014. Over the years, she has worked to reinvent the company, leading it through a successful turnaround that included streamlining GM’s global operations and introducing new technologies.
In this article, Fidlar looks at Mary Barra net worth, career trajectory, and achievements.
What is Mary Barra’s Net Worth and Salary 2023?
Mary Barra is an American business executive and the current CEO of General Motors. She is the first woman to lead a major automobile manufacturer in the United States. Barra has an estimated net worth of $60 million, as of 2023. Her salary is estimated at around $22 million.
Mary Barra Overview: Why is Mary Barra Famous?
Barra, born in Royal Oak, Michigan, can trace her Finnish heritage back to her grandfather, Viktor Mäkelä. After immigrating to the US from Teuva, Viktor married Maria Luoma in Mountain Iron, Minnesota and they had three children, including Barra’s father, Ray.
Ray, who married a second-generation Finnish American named Eva Pyykkönen, welcomed Barra into the world in 1961.
In 1985, Barra graduated from the General Motors Institute (now Kettering University) with a Bachelor of Science in Electrical Engineering and was inducted into both the engineering honor society Tau Beta Pi (MI Zeta class of 1985) and the honor society IEEE-Eta Kappa Nu (Theta Epsilon chapter 1983) while there.
Achieving these accomplishments, Barra stands as a shining example of the potential of those who set their minds to reach for the stars.
Following her studies, she was rewarded a GM fellowship for attending Stanford Graduate School of Business and earned her Master of Business Administration degree in 1990.
Mary Barra has had an impressive and inspiring career. She began her professional career in 1980 as a General Motors (GM) co-op student. She worked her way up the ranks, eventually becoming the Executive Vice President of Global Product Development, Purchasing, and Supply Chain in 2013.
In 2014, she made history by becoming the first female CEO of a major automobile company when she was appointed CEO of GM.
Since then, Mary Barra has been credited with leading GM’s turnaround. Under her leadership, GM has seen significant growth, including developing new, more efficient vehicles and expanding its electric vehicle lineup.
She has also pushed for greater transparency within the company and is focused on creating a culture of safety and trust.
Mary Barra has also served on numerous corporate boards, including those of the New York Federal Reserve Bank, Lockheed Martin, and the American Red Cross.
She is a member of the Council on Foreign Relations and is a recipient of numerous awards, including Fortune Magazine’s Most Powerful Woman in Business in 2018.
Throughout her career, Mary Barra has been a passionate advocate for diversity, advocating for more women and minorities to be included in leadership positions.
She exemplifies how hard work, dedication, and commitment can lead to success, regardless of gender or background. She is an inspiration for all aspiring business leaders.
Awards and honors
Barra rocketed up the Forbes Most Powerful Women list, jumping from the 35th position in 2013 to a lofty 4th spot in 2018.
In 2014, she gave a memorable commencement speech at the Michigan Stadium for the University of Michigan’s Ann Arbor campus and was honored with an honorary degree.
Four years later, she was bestowed with an honorary doctorate from Duke University, and then, in 2023, the university had the distinct pleasure of hearing her speak at their graduation ceremony once again.
In 2015, Barra rocketed up the Fortune’s Most Powerful Women list, ascending from second to the coveted first spot!
Maintaining her reign at the top, she topped Fortune’s 2017 Most Powerful Women list and claimed the No. 5 spot on Forbes’ World’s 100 Most Powerful Women ranking in the same year.
In April 2014, Barra earned a coveted spot on Time’s “100 Most Influential People in the World” cover.
In December 2016, Mary Barra was invited to a business forum, hand-picked by then-President-Elect Donald Trump, to lend her expertise and strategic advice on economic issues.
Nevertheless, she chose to part ways with the forum a year later due to her disapproval of President Trump’s response to the Charlottesville protests.
In February 2018, Barra was elected to the esteemed National Academy of Engineering, and six months later, she was recognized for her outstanding leadership skills by receiving the Yale Chief Executive Leadership Institute’s coveted Legend in Leadership Award.
Barra came out on top in Institutional Investor’s 2019 All-America Executive Team survey of top autos and auto parts sector executives!
Barra was honored to be selected for the prestigious 2021 Forbes 50 Over 50, comprising of entrepreneurs, leaders, scientists, and creators over the age of 50. She was then again graced with inclusion in Time’s annual list of 100 most influential people in the world for 2021 – the renowned Time 100.
Barra, who met her husband Tony, a consultant, during her time at Kettering University, is the proud mother of two children and two canine companions. Together they call Northville, just outside of Detroit, home, yet Barra also owns a stunning apartment in the heart of Downtown Detroit.
“When it comes to her favorite cars, she swears by the Chevrolet Camaro and the Pontiac Firebird, and to top it all off, Barra can even converse in a bit of Finnish!”
FAQs about Mary Barra
Why is Mary Barra So Successful?
Staying steadfastly dedicated to GM’s interests, not her own career, Barra has achieved incredible success. She dealt with each GM task as if it was her life’s mission, never losing sight of the importance of the present.
What has Mary Barra Done for GM?
Under the leadership of Barra – GM’s CEO since 2014, and the first female to ever lead one of the three big U.S. automakers – billions of dollars have been put into developing electric vehicles, self-driving cars, and even a ride-sharing service known as Maven.
What is Mary Barra’s Salary?
The salary she has amassed amounts to a whopping $2.1 million, with stock awards of $14.6 million, option awards of $4 million, and incentive plan compensation nearly reaching $7.6 million.
What Type of Leadership Style Does Mary Barra Have?
Mary Barra humbly and collaboratively works with her team, giving credit where credit is due and avoiding stealing the spotlight for herself. Her demeanor exudes a confident composure that draws admiration and trust from those around her.
In conclusion, Mary Barra has been a trailblazer in the automotive industry and achieved immense success. Her net worth, career trajectory, and achievements are a testament to her hard work and drive.
With her leadership, General Motors has become one of the most successful companies in the world. To learn more about Mary Barra’s incredible journey, follow us on social media!