RJ Scaringe gets new pay package worth up to $4.6 billion

[DuoRivians]

Even then, they could live like royalty on 100MM a year, and the rest can be used to make sure that cure is actually affordable for the rest of us. The only thing billions of dollars is good for is buying political influence. Our system works best with one person, one vote. Billionaires shortcut this by buying politicians.

Oligarchy or bust

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[hammick]

Agreed, and certainly not close to a trillion dollars. That’s beyond ridiculous. The only person who deserves to be given that much money is the person who finds a cure for cancer.

Pretty sure the drug companies have a cure for cancer but they buried it because treating cancer is a whole lot more profitable.

 

[kurtlikevonnegut]

In all seriousness they better figure out how to have consistent panel/door alignment from the factory on R2. Us EV geeks/early adopters might put up with that shit but the average buyer won't.

Disagree. The nerds/early adopters are the ones with calipers checking panel gaps. Every day drivers don't generally pay a ton of attention to panel gaps or alignment.

I could take a mallet to my wife's minivan and it would take her at least a week to notice if she did at all.

 

[VandalSibs]

I dunno. It’s tied to the stock price. Which in our meme world, stock price can be meaningless. I don’t want rivn to trade like tsla

The first six tiers require actual company financial progress and not just elevated stock values. If those tiers aren't achieved, the other stock performance only tiers don't come into effect. He has to lead the company to financial stability first which is a good thing.

 

[DuoRivians]

The first six tiers require actual company financial progress and not just elevated stock values. If those tiers aren't achieved, the other stock performance only tiers don't come into effect. He has to lead the company to financial stability first which is a good thing.

Why not just leave the compensation at actual financial progress, and leave the stock price out of it? The latter only incentivizes bad behavior by making the stock price explicit?

 

[mikehmb]

What's wrong with the build quality? On our G2 Tri R1S they got the doors, quarter panels and hood alignment to about 85% of a Ford or Chevy on the 5th try

In all seriousness they better figure out how to have consistent panel/door alignment from the factory on R2. Us EV geeks/early adopters might put up with that shit but the average buyer won't.

Delivery build quality on my current Gen2 R1T was excellent. After 2500 miles, I have rattles everywhere. It's maddening.

 

[strykerwsu]

I guess im the only one to have made on Rivian stock. Dod get lucky that I missed the early ipo cutoff by like a week lol. Overall happy he has this incentive to grow stock.

Overall annual salary remains low for his position.

 

[COdogman]

I am of the opinion that billionaires shouldn’t exist in our society. No one person should possess that much wealth when so many can’t afford food or medicine.

That being said, if we are going to have billionaires, their pay ratio to the average worker pay in their org should be reasonable. If they can run a company where everyone shares in the success it says much more than if a small percentage get very wealthy while the majority of employees struggle to survive.

 

[Riviot]

FYI admin edited my original post. I returned it to its original content.

 

[lefkonj]

The numbers are staggering but the details matter. It's all based on performance and if he hits those targets the company will be worth way more than the comp package. I hate these things but I also get it. I just wish his base wasn't 2 million, then it seems like a true 'incentive' package.

 

[HaveBlue]

I say good for him. Starting a new car company is a monumental task and employing tens of thousands of people gives them livelihood. Make no mistake, being an employee is not anywhere near the guy who starts a company and succeeds.

 

[iansriv]

I say good for him. Starting a new car company is a monumental task and employing tens of thousands of people gives them livelihood. Make no mistake, being an employee is not anywhere near the guy who starts a company and succeeds.

Agree. What a great American story. Born and bred right here! Would there be a Rivian without RJ? Few of us know the hard work and sacrifices founders have to make. I say pay the man!

 

[JRock]

It’s good to be the king.

 

[savethemanual]

I guess people are driven by money, it's the way of the world. He seems like a good dude, hope he gives back to the world if he achieves that crazy payday.

 

[kurtlikevonnegut]

I say good for him. Starting a new car company is a monumental task and employing tens of thousands of people gives them livelihood. Make no mistake, being an employee is not anywhere near the guy who starts a company and succeeds.

This is an important point. Comparing him to someone like Sundar for comp isn't really 1:1. If you compare his comp against other founders it's more realistic because like them, so much of his wealth is unrealized gains tied to stock ownership.

Bottom line for me is, if RJ hits anywhere close to the $4.6b it will be because the company has become extremely successful and anyone who owns RIVN today (and a lot of the employees who have equity) will be very wealthy as a result.

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