US EditionEV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion
Rivian's CEO receives stock options tied to achievable profit goals and share prices, potentially creating $153 billion shareholder value over 10 years, with salary doubled to $2 million.
- Rivian, an electric vehicle maker, has given its CEO a pay package potentially worth up to $4.6 billion over 10 years, similar to Elon Musk's deal at Tesla.
- The package includes stock options tied to meeting share price targets from $40 to $140, as well as operating income and cash flow goals through 2032.
- Scaringe's base salary was also doubled to $2 million, and he received a stake in a new Rivian AI spinoff company, with the changes aiming to better align pay with shareholder returns.
26 Articles
26 Articles
Rivian just doubled its CEO's salary and gave him a $4.6B pay package
Rivian CEO RJ Scaringe described picking between Stanford and MIT as being "recruited for a nerd sports team."Amy E. Price/SXSW Conference & Festivals via Getty ImagesRivan gave its CEO a new pay package that contains a stock-option award worth up to about $4.6B.CEO RJ Scaringe also receives a salary increase from $1 million to $2 million.The company said that the previous pay package lacked enough incentive to retain its CEO.Rivian CEO RJ Scari…
Tesla rival Rivian gives CEO RJ Scaringe a Musk-like pay package worth up to $4.6B
EV maker Rivian on Friday said it was giving its CEO a pay plan worth as much as $4.6 billion over the next decade, a deal similar to Tesla's record package for CEO Elon Musk, and linked to new profit targets and reduced share price milestones.
EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion
EV maker Rivian on Friday said it was giving its CEO a revised pay package worth as much as $4.6 billion over the next decade, a deal modeled on larger rival Tesla’s plan for paying CEO Elon Musk, and linked to new profit targets and reduced share price milestones.Read MoreThe post EV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion first appeared on The Who Dat Daily.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss how Tesla is now Elon’s after the shareholders’ meeting, Xpeng going all-in on AI, Rivian’s earnings, and more. more…
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