US EditionEV maker Rivian gives CEO a Musk-style pay package worth up to $4.6 billion
Rivian's CEO RJ Scaringe received a doubled salary and options for 36.5 million shares worth up to $4.6 billion tied to profit and stock price milestones through 2032.
- 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.
28 Articles
28 Articles
Rivian CEO’s $4.6B Pay Plan Mirrors Elon Musk’s—But Tesla’s Playbook Is Hard to Repeat
Earlier this month, electric carmaker Rivian unveiled a $4.6 billion compensation plan for its founder and CEO, RJ Scaringe—a package that has drawn comparisons to Tesla’s $1 trillion deal for Elon Musk. Like Musk’s award, Rivian’s plan hinges on a series of highly ambitious performance targets over the next decade, including lifting Rivian’s stock price to $140 (it currently trades around $15). In a softening EV market, and without the financia…
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.
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
