Rivian's Stock Sizzles as CEO Scaringe Bags $4.6 Billion Pay Package
In a dramatic turnaround, electric vehicle manufacturer Rivian's shares have surged over 18% this week, marking a significant rebound from a recent slump. The company's stock rose 9.6% to $17.99 on Tuesday, its highest price in nearly two years, after beating Wall Street's estimates for quarterly earnings and unveiling a generous pay package for CEO RJ Scaringe.
The compensation deal is worth up to $4.6 billion, including a base salary of $2 million that doubles Scaringe's previous salary, as well as the option to purchase an additional 36.5 million shares. The grant comes with conditions, however, and Scaringe will have to unlock around 22 million of those shares by hitting stock price milestones, such as rising to $140.
Analysts are hailing the deal as a positive development for Rivian, citing it as a sign that the company is serious about rewarding its top talent. In contrast, Tesla's deal with CEO Elon Musk in 2020 was widely criticized as being excessive and unreasonable.
Rivian's stock has been on a rollercoaster ride of late, falling to as low as $8.26 in April this year after reaching an all-time high of $179.47 just a couple of years ago. The company's revenue jumped 45% in the third quarter, driven by a significant boost from its joint venture with Volkswagen.
The German automaker has committed over $5.8 billion to Rivian, which is expected to provide it with next-gen software for electric vehicles. In return, Rivian will gain access to new technology and potentially benefit from Volkswagen's global resources.
As the automotive industry continues to shift towards electric vehicles, Rivian's surge in popularity has been a major factor in its success. The company's stock price rally is a testament to investor confidence in its ability to deliver on its promises and take the EV market by storm.
In a dramatic turnaround, electric vehicle manufacturer Rivian's shares have surged over 18% this week, marking a significant rebound from a recent slump. The company's stock rose 9.6% to $17.99 on Tuesday, its highest price in nearly two years, after beating Wall Street's estimates for quarterly earnings and unveiling a generous pay package for CEO RJ Scaringe.
The compensation deal is worth up to $4.6 billion, including a base salary of $2 million that doubles Scaringe's previous salary, as well as the option to purchase an additional 36.5 million shares. The grant comes with conditions, however, and Scaringe will have to unlock around 22 million of those shares by hitting stock price milestones, such as rising to $140.
Analysts are hailing the deal as a positive development for Rivian, citing it as a sign that the company is serious about rewarding its top talent. In contrast, Tesla's deal with CEO Elon Musk in 2020 was widely criticized as being excessive and unreasonable.
Rivian's stock has been on a rollercoaster ride of late, falling to as low as $8.26 in April this year after reaching an all-time high of $179.47 just a couple of years ago. The company's revenue jumped 45% in the third quarter, driven by a significant boost from its joint venture with Volkswagen.
The German automaker has committed over $5.8 billion to Rivian, which is expected to provide it with next-gen software for electric vehicles. In return, Rivian will gain access to new technology and potentially benefit from Volkswagen's global resources.
As the automotive industry continues to shift towards electric vehicles, Rivian's surge in popularity has been a major factor in its success. The company's stock price rally is a testament to investor confidence in its ability to deliver on its promises and take the EV market by storm.
OMG this pay package for RJ Scaringe is INSANE! I mean, $4.6 billion? That's like buying 40% of Rivian's shares (if they were publicly traded, lol). It's a major confidence booster for investors and sets the bar high for other CEOs to follow. Plus, it shows that Rivian is serious about retaining top talent and investing in its leadership team. And let's be real, Scaringe has been leading this company from day one, so it's hard to argue with his compensation package 
just wondering how much of that $4.6 billion pay package will actually get unlocked... 22 million shares gotta be worth something, right? 
and what's up with this stock price milestone thingy? is it like a for-profit goal or somethin'? 
$4.6 billion is crazy! Like I know he's the CEO and all, but still... that's insane 
. Anyway, I'm def investing more in Rivian now lol 
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4.6 billion dollar pay package lol idk if it's crazy or genius but either way rivian's stock is on FIRE 
plus their joint venture with vw is gonna give them some serious tech cred 
can't wait to see what the future holds for this EV company 
, $4.6 billion is like buying 1000 mansions 
! And its not just him, its other people too 
CEO Scaringe gettin paid like 4.6 BILLION bucks????? like what's next?!?! they're basically sayin he's worth more than the whole company 
. Rivian's revenue jumped 45%??? that's awesome but like who cares if he gets paid in unicorn tears 
?
. If he can unlock 22 million shares by hitting those milestones, he'll be set for life!
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and now they're gonna have access to all this cool tech from vw 
rivian's stock has been on a wild ride but i'm glad it's back up 
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. Remember, wealth and success aren't just about taking risks, they're also about being smart and calculated in how you manage that risk