Larry Culp, or otherwise known as H. Lawrence Culp Junior is an American businessman who is currently working as the CEO of General Electric Aerospace. In the past, he has also been the chairman of General Electric. What’s interesting is that when Culp joined GE, it had been the first time in 126 years of GE to hire an outsider.
Prior to benefitting GE with his knowledge, Larry Culp benefitted the Danaher Corporation as its President and CEO. Later in his career at Danaher, Mr. Culp was asked to look after the company’s Environmental and Electronic Test and Measurement Platforms. During that time, he was also the president of Fluke and Fluke Networks. Moreover, at Bain Capital Private Equity, he is a senior advisor. Furthermore, he also works T. Rowe Price as its non-executive director.
In addition to such practical work at various companies, Culp was also a senior lecturer at the famous Harvard Business School where his area of focus was leadership and strategy. Alongside, he focused on general management and executive education programs too.
Larry Culp Net Worth
|CURRENT NET WORTH||Job Title||Current Salary||Source of Wealth|
|$2 Billion USD||CEO at GE Aerospace||$21 Million USD||General Electric|
Larry Culp is one of the wealthiest men in America. What’s noticeable about him is the fact that he hasn’t worked at numerous places. Rather he has settled and focused on just a few companies. Such intense focus on certain specialised projects for a specific company may be one of the reasons why Culp’s returns are great enough for him to be a billionaire. With that being said, Larry Culp is a very successful man going down in history from whom students of Harvard Business School were lucky to be mentored from.
Frequently Asked Questions
Did GE CEO Larry Culp get a bonus?
The CEO’s pay fell $14.5 million after the stock award was reduced. Culp’s total compensation went from $22.7 million in 2021 to $8.2 million in 2022. In the meantime, GE agreed to reduce the annual stock reward too from $15 million to $5 million in 2022. Culp’s annual bonus was reduced as well from $4.2 million to $525,000. All changes took place due to a decline in Larry Culp’s annual stock awards.
How many shares of GE does Larry Culp own?
Larry Culp directly owns approximately 211,000 stocks in General Electric. The shares are estimated to be greater than 211,000. Therefore, their estimated value is about $16 million. However, Culp is expected to have 2.2 million “stock based holdings” shares in the GE which may be worth $167 million.