For Ferrari, 2024 was a year of high-level financial results with economic growth for all employees and top management
Ferrari: high-level financial results in the year 2024
The year 2024 proved to be a year of triumphs for Ferrari, with financial results exceeding all expectations. This extraordinary success translated into tangible recognition for the entire Ferrari team, from employees to top management – who received, precisely, significant financial recognition.
As a token of gratitude for the commitment and dedication shown, we recall, already mentioned in an older article of ours-that each Ferrari employee received an outstanding bonus of 14,000 euros. This bonus, well above industry standards, is a clear sign of the importance Ferrari places on its human capital.
And Ferrari’s outstanding performance certainly did not go unnoticed by top management, either. Automatically, CEO Benedetto Vigna and Chairman John Elkann saw their compensation increase significantly, in recognition of their key roles in guiding the company to new heights.
Benedetto Vigna and John Elkann’s earnings in 2024
Before we talk about Vigna and Elkann’s year 2024 figures, we would like to point out again that the source of what is reported comes from ‘Milano Finanza’.
In the year 2024 CEO Benedetto Vigna received a total compensation of 7,983,034 euros (about $8,621,676) a significant increase from the 6.69 million (about $7,225,200) recorded the previous year. This amount includes an annual base salary of 1.5 million euros (about $1,620,000) plus short-term bonuses of 3.1 million euros (about $3,348,000) and additional long-term incentives of equal value. This substantial increase in his remuneration is a clear recognition of his work and leadership, which have contributed to the global success of the Ferrari company.
And still in 2024, on the other hand, the compensation of Chairman John Elkann, the number one of Exor and current CEO of Stellantis, received a total compensation of 2.6 million euros (about $2,808,000). Certainly the latter is smaller than that of CEO Benedetto Vigna, but it is still an increase from the 2.39 million (about $2,581,200) he received in 2023. His base salary amounted to €500,000 (about $540,000), plus €1 million in bonuses for achieving short-term goals and an additional €1 million (about $1,080,000) for incentives related to long-term performance.
Piero Ferrari’s compensation in 2024
And from the source, also comes the info of the earnings of Piero Ferrari, that is, the son of the legendary founder Enzo. He, in the year 2024, received a significant remuneration of 740,000 euros, 814,000 U.S. dollars, the same amount received by Mike Volpi, Ferrari’s non-executive director. In addition to fixed compensation, Ferrari’s three top executives, Benedetto Vigna, John Elkann, along with Piero Ferrari, received fringe benefits worth a total of about 72,000 euros (US$79,200) including the use of company aircraft, exclusive consulting and private chauffeur services.
Past successes and anticipations for Ferrari’s upcoming revolutionary electric car
With these achievements received in 2024 for the Italian brand Ferrari now we just have to hope that it will be able to maintain its successes and that the coming years will also be as much about growth. And perhaps it could be that with the arrival of the Cavallino Rampante brand’s long-awaited new and first electric car there will be more surprises. In fact, we recall, as mentioned in one of our previous articles, that the countdown to the unveiling of the first electric Ferrari has already begun. On October 9, the Ferrari automaker will unveil this long-awaited new model. Meanwhile, development proceeds and now a new test mule has been spotted on northern European roads during winter testing sessions. The spy photos are particularly interesting because they show the vehicle for the first time at an IONITY HPC charging station .