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The highest paid is Carlos TavaresCEO of Stellantis, who earned €23.47 million before taxes in 2023. The second is Massimo Della Porta, president of Saes Getters, with 21.14 million. In third place, in perfect parity, fashion’s golden couple, Miuccia Prada and her husband Patrizio Bertelli, each earned 19.3 million. The “pay watch” developed by Sole 24 Ore with the earnings of managers of Italian listed companies certifies that 2023 was another golden year for managers’ turbo salaries. The peaks are lower than the record of 2022, when the highest paid was former FCA CEO Mike Manley with 51.18 million, but the values are still stellar.
Millionaires on the rise
The number of millionaires has increased. 165 managers made money more than a million28 more than in 2022. Of these, 89 earned more than two million, compared to 71 the previous year. The earnings of the top ten reached 167.65 million, compared to 231.2 million in 2022 and 197.4 million in 2021. There are 12 managers who earned more than ten million (14 in 2022); 30 more than 5 million (31 in 2022).
Il «pay watch»
The «pay watch» is based on official documents published by listed Italian companies on the stock exchange, including those that have moved their registered office abroad, such as Stellantis, Ferrari, Exor, Cementir, Mfe, taking into account monetary compensation (fixed, bonuses or prizes of any kind, severance pay), equivalent value of free shares at the time in which the right to receive the securities accrues, any capital gains for the exercise of stock options, regardless of whether the shares are sold. “Non-monetary benefits” and “fringe benefits” such as health and social security insurance policies, use of cars, houses or planes paid for by the company are excluded. All figures are before taxes and contributions.
The ranking
With 23.47 million, the Portuguese manager who leads the automotive group born from the merger between FCA and the French PSA increased his earnings by 57% compared to the 14.92 million in 2022, when he was seventh. The main new feature is the engineer’s leap Massimo Della Portapresident of Saes Getters, second with 21.14 million, thanks to a variable super compensation of 20.22 million, largely made up of 19.6 million of “asset plan accrued in 2023”. Saes Getters has no longer been listed since 9 July. The CEO was also awarded. of the same company, Giulio Canalewhich is seventh with 15 million total.
Miuccia Prada and Patrizio Bertelli
Paired, like every year, Miuccia Prada e Patrizio Bertelli. Their salary increased by 1.16 million compared to 2022, and is made up almost entirely of the fixed paycheck, the highest among Italian listed companies (19.27 million each). In addition to this, for both there are the rich dividends from the company they control, listed on the Hong Kong Stock Exchange. From 26 January 2023 Prada and Bertelli no longer hold the position of CEO of the group, the baton has passed to Andrea Guerrawhich received almost 5.6 million, is 30th.
