The American electric vehicle manufacturer Rivian announced on Friday a new compensation package for CEO RJ Scaringe, worth up to $4.6 billion over a ten-year period, a plan inspired by Elon Musk's famous record deal with Tesla.
Raluca Ioana Draghici
Economy
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The American electric vehicle manufacturer Rivian has announced a new compensation package for CEO RJ Scaringe, valued at up to $4.6 billion over a ten-year period. This plan, inspired by Elon Musk's record deal with Tesla, aims to ensure the founder's loyalty and motivate him to achieve profitability, in the context of the upcoming launch of the future R2 SUV, intended to compete with the Tesla Model Y. The package includes options to purchase 36.5 million shares of Rivian, which can only be activated if the company meets certain price targets and financial objectives over the next seven years. Additionally, Scaringe's base salary will be doubled to $2 million annually. If all objectives are met, the total earnings could reach $4.6 billion, generating an estimated increase of $153 billion in the company's market value. Furthermore, Scaringe has received 1 million shares in the affiliated company Mind Robotics, where he will serve as chairman of the board. This plan comes shortly after the approval of a $1 trillion compensation package for Elon Musk by Tesla shareholders, suggesting a shift in how technology and automotive companies reward their leadership.
Sources
Rivian oferă CEO-ului său un pachet salarial de până la 4,6 miliarde de dolari, după modelul lui Elon Musk
Rivian CEO RJ Scaringe lands $4.6 billion pay package modeled after Elon Musk
Rivian vrea să-și motiveze CEO-ului după Modelul Musk cu un pachet salarial de până la 4,6 miliarde de dolari
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