• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Leadership

The UAW’s Shawn Fain wants to wreck ‘the billionaire class’ as analysis reveals Ford, GM and Stellantis CEOs make at least 281 times their average employee

Paige Hagy
By
Paige Hagy
Paige Hagy
Down Arrow Button Icon
Paige Hagy
By
Paige Hagy
Paige Hagy
Down Arrow Button Icon
September 15, 2023, 4:26 PM ET
United Auto Workers union president Shawn Fain speaking to the media with his hand raised in a fist as a symbol of solidarity.
Shawn Fain, United Auto Workers president.Matthew Hatcher—AFP via Getty Images
Add Fortune on Google for similar content.

As the United Auto Workers union faces off against Detroit’s Big Three automakers in a historic strike on Friday, the key demand is pay. Workers at Ford, General Motors, and Stellantis (formerly known as Fiat Chrysler) are demanding a 40% increase to make up for years of inflation. And to show the companies can afford to give their workers more, the union is highlighting the automakers’ exceptional generosity to a sliver of their workforce: their CEOs.

Recommended Video

While some fear the impact that a long-lasting strike could have on the economy, with the Business Roundtable saying it is “deeply concerned,” UAW president Shawn Fain suggests it’s the top brass at the Big Three who have the most to lose.

“It’s not [that] we’ll wreck the economy. We’ll wreck their economy, the economy that only works for the billionaire class and not the working class,” Fain told CNN this week. 

The UAW also shot down Ford CEO Jim Farley’s attempts to paint workers’ demands as unrealistic. After Farley unfavorably compared the union’s pay demand to that of schoolteachers and firefighters, suggesting, using dubious figures, that a single autoworker could make “four, five, six times” a teacher’s salary, the UAW called out his hypocrisy by pointing to Farley’s own pay package. 

“This man made $21 MILLION DOLLARS last year,” the UAW said in a post. With the median Ford employee making less than $75,000 in 2022, according to SEC filings, Farley took home the pay of 281 Ford workers.

Put another way, an hourly Ford employee would need to labor for seven working lifetimes to earn the same amount of money that Farley, between his base salary, bonus, stock options, and fringe benefits, took home in a single year.

The divide between Farley and his workforce isn’t unique—the disparity between the salaries of General Motors and Stellantis chief executives and their employees is even greater. The sky-high pay highlights a widening inequality between leaders and the rank and file, fueling workers’ suspicions that CEOs are increasingly out of touch with their employees.

A growing gap

At General Motors, the worker-to-boss disparity is even more extreme—GM CEO Mary Barra made 361 times her typical employee’s pay last year, bringing in $29 million while the median worker earned $80,000. Similarly, Stellantis CEO Carlos Tavares made the salary of 365 employees, earning $25 million (or 23.4 million euros) while the typical employee earned $68,000. 

Ford and GM did not respond to Fortune’s request for comment. Stellantis declined to comment.

While workers contend with higher costs of living as inflation and interest rates rise but their paychecks remain the same, top CEOs’ pay continues to increase steadily—with barely any regard for how their companies perform. Record stock-market performance in 2021 drove CEOs’ pay up by 17% that year, according to research from executive compensation firm Equilar—but while stocks fell in 2022, CEO pay just kept rising, albeit by a smaller portion.

Just look at Tavares: The CEO of the company that makes Jeeps and Chevys saw his pay more than double from $12 million in 2020 to $23 million in 2022. And earlier this year, the nonprofit advocacy group As You Sow named Ford CEO Jim Farley one of its 100 most overpaid CEOs, decreeing that over $8 million of his $21 million pay package was “excess.”

The inflation of the past three years is especially galling for autoworkers, who agreed to give up automatic cost-of-living increases in 2008 when two of the Big Three filed for bankruptcy and had to be bailed out by the federal government. Since then, workers’ inflation-adjusted income has fallen 19%, according to the Economic Policy Institute, a left-leaning think tank. 

“The Big Three CEOs saw their pay increase by 40% over the last four years, while our pay only went up by 6%,” Fain said at a news conference. 

Fain, and the rank and file, are betting that the Big Three can shell out more. EPI predicts them to pull in more than $32 billion in additional profit just in the second half of this year.

About the Author
Paige Hagy
By Paige Hagy
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

U.S. Polo Assn. CEO J. Michael Prince
SuccessThe Promotion Playbook
U.S. Polo Assn. CEO was told he wasn’t right for a promotion—so he ‘outworked’ anyone else who wanted the job for 6 months straight
By Orianna Rosa RoyleJuly 1, 2026
59 minutes ago
Nikesh Arora, chief executive officer at Palo Alto Networks
SuccessJobs
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
1 hour ago
DHL plane being refuelled at airport by man in high-vis jacket
EuropeAviation
The Iran conflict saw jet fuel prices soar—when you use 1.88 million tonnes a year, how you respond really matters (just ask DHL)
By Sam ForsdickJuly 1, 2026
3 hours ago
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
CommentaryCareers
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
By Jeremy FainJuly 1, 2026
6 hours ago
mr
Commentary250 Years of Innovation
America needs 3.8 million manufacturing workers. This CEO has a blueprint to find them
By Mark RayfieldJuly 1, 2026
6 hours ago
Photo: Rocks balancing on driftwood, sea in background.
AIMarkets
Leveraged stock bets are ‘very concentrated in the AI ecosystem,’ Goldman Sachs warns
By Jim EdwardsJuly 1, 2026
7 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
9 hours ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
1 day ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
7 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.