Rivian CEO's pay could hit $4.6B, but with a catch
Rivian just rolled out a massive new pay deal for its CEO, RJ Scaringe—potentially worth $4.6 billion over the next decade.
The catch? He only gets the big payout if Rivian hits some tough profit and stock price goals, much like Tesla did with Elon Musk.
This move comes as Rivian gears up to launch its more budget-friendly R2 SUV next year.
Scaringe's salary doubles to $2 million
Scaringe gets options to buy 36.5 million shares at $15.22 each, but only if Rivian's stock price lands between $40 and $140 over 10 years and the company meets key financial targets within seven years.
His base salary also doubled to $2 million.
On top of that, he scored 1 million units in Mind Robotics—a Rivian spinoff focused on industrial AI—which could give him up to a 10% stake once the business profit exceeds a certain threshold.