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

[COdogman]

My last attempt.... Income Inequality.... what is that? If everyone had 2 cars and a 5 bedroom home with a pool...... would you decry the guy with 10 bedrooms?

Democrats by nature will always want everyone else to be poor.... that is Socialist. Take from everyone till noone has anything...

Venezuela? Hm.

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[BigSkies]

Regardless of the "should someone be that rich", Rivian shareholders should ask why are we paying many multiples of the CEO's of any other non-Tesla carmaker?

RJ has done a good job as CEO, but there's also been plenty of unforced errors. I'd vote to keep him as CEO. But not at any price.

The CEO's of Ford and GM make less than $30M per year. Each of those companies has executives that are ready to step into a CEO role as part of a succession plan. There are MANY qualified candidates.

Why should Rivian shareholders pay a multi-billion pay package when qualified CEO's can be hired for tens of millions?

I think my employer should start paying me $10M per year. But they don't pay me $10M per year because other well qualified candidates can do it for much cheaper. The CEO role is no different.

It's important to have a good CEO, but there are many qualified CEO's out there.

 

[kurtlikevonnegut]

Regardless of the "should someone be that rich", Rivian shareholders should ask why are we paying many multiples of the CEO's of any other non-Tesla carmaker?

RJ has done a good job as CEO, but there's also been plenty of unforced errors. I'd vote to keep him as CEO. But not at any price.

The CEO's of Ford and GM make less than $30M per year. Each of those companies has executives that are ready to step into a CEO role as part of a succession plan. There are MANY qualified candidates.

Why should Rivian shareholders pay a multi-billion pay package when qualified CEO's can be hired for tens of millions?

I think my employer should start paying me $10M per year. But they don't pay me $10M per year because other well qualified candidates can do it for much cheaper. The CEO role is no different.

It's important to have a good CEO, but there are many qualified CEO's out there.

The answer to that is simple, RJ is a founder and assumed all of the risk in starting the company. The other auto manufacturers are caretakers, charged with just keeping the ship on track without sinking it. Take a look at what Henry Ford's compensation would be in todays money, that's a more accurate comparison.

 

[Hereforthesnacks]

The answer to that is simple, RJ is a founder and assumed all of the risk in starting the company. The other auto manufacturers are caretakers, charged with just keeping the ship on track without sinking it. Take a look at what Henry Ford's compensation would be in todays money, that's a more accurate comparison.

What risk did he incur?

 

[TexasBob]

The answer to that is simple, RJ is a founder and assumed all of the risk in starting the company. The other auto manufacturers are caretakers, charged with just keeping the ship on track without sinking it. Take a look at what Henry Ford's compensation would be in todays money, that's a more accurate comparison.

No. RJ owns 4 million shares that is what he got for being a founder. If he can get the value of the company back to the IPO price he will make $250 million (and public shareholders will have gotten zero). If his 4 million shares are not sufficient incentive, he is unqualified to be CEO.

 

[CrazyOne]

Rivian’s new grant was awarded under the existing 2021 equity incentive plan (EIP) that had already been approved by shareholders at that time.

This is the worst part. It did not even require shareholder approval and board decreased the targets. I would have voted against it. Slimy!

 

[PVguy]

The point is, it isn't up to these people to decide where and how this money should be spent. That negates the point of voting and declaring rules as a society. You have a few million. Congratulations, you are officially closer to $ 0 than you are to RJ's pay package. You do realize that a billionaire is a THOUSAND times richer than a Millionaire?

The government isn't perfect, but giving people that money in the form of housing or healthcare does more for society than Bezos making a dick rocket or building a yacht so big it needs a support yacht worth more than your neighborhood to make sure it can operate. Trickle-down economics doesn't work, and every developed nation besides this one has fewer billionaires but a higher standard of living for everyone else. No one benefits from someone else having a billion dollars, and even if they did, society would benefit more if that money were better utilized.

It would be one thing if there weren't grants and government subsidies paid for by tax dollars that allowed these people to amass such a substantial amount of wealth. Please review the loan for the GA factory that Rivian received with our tax dollars. Why should my taxes be used to lend more favorable loan terms to Rivian, so that RJ can secure billions of dollars? That doesn't make sense. We are subsidizing these people to allow them to hoard wealth, and that's really dumb.

A year ago, we were all crossing our fingers that the federal government would extend that line of credit to Rivian, as it is key to their long-term survival. Today, we are discussing RJ's 4.6 billion dollar pay package. You don't see the correlation there? Why not?

I will admit that I did not read the article but I think that I have a good idea of what is involved here. And I agree Donald here. When is enough not enough? A large portion of that wealth is built upon the commons that the average taxpayer has built. There is a Senator from Vermont that has been preaching this for 30+ years.
I currently own an R1T and have a reservation on an R2. Give this situation and that I actually need a smaller pickup and Rivian does not have plans for one, I will probably be canceling my R2 reservation and looking for a smaller EV pickup elsewhere. Scout?

 

[VandalSibs]

I will admit that I did not read the article but I think that I have a good idea of what is involved here. And I agree Donald here. When is enough not enough? A large portion of that wealth is built upon the commons that the average taxpayer has built. There is a Senator from Vermont that has been preaching this for 30+ years.
I currently own an R1T and have a reservation on an R2. Give this situation and that I actually need a smaller pickup and Rivian does not have plans for one, I will probably be canceling my R2 reservation and looking for a smaller EV pickup elsewhere. Scout?

The Scout EV truck is bigger than the R1T. For a smaller EV truck, you're waiting on Ford's new platform, Slate, or Telo. I can't think of anything else that might be available in the US.

 

[PVguy]

The Scout EV truck is bigger than the R1T. For a smaller EV truck, you're waiting on Ford's new platform, Slate, or Telo. I can't think of anything else that might be available in the US.

The Scout EV truck is bigger than the R1T. For a smaller EV truck, you're waiting on Ford's new platform, Slate, or Telo. I can't think of anything else that might be available in the US.

Thank you vandalsibs. I tried to get dimensions from Scout but was unable to do so. Do you have them?

 

[VandalSibs]

Thank you vandalsibs. I tried to get dimensions from Scout but was unable to do so. Do you have them?

Took about 30 seconds of looking through their support page:

https://support.scoutmotors.com/en/...-exterior-dimensions-will-scout-vehicles-have

 

[Motoarzon]

At least it's tied to reasonable objectives/goals, and not a bunch of BS like Musk.

What's BS about Musk's package? The market cap has to be over 6x from where it is today. If he makes us 6x richer, why would anyone have a problem paying him a cut.
He has to sell 1million robots, 1million robotaxis, 10million FSD subscriptions.
According to all the naysayers here robots are rubbish and FSD will never be solved by Tesla so we actually get to have him work for 10yrs for us for FREE!!
Oh, and he's already been working for the past 8yrs for FREE And yet the stock price is up 1000% in that time. I got 10x richer and Musk worked for me for free.
You seem to want to be right, instead of being rich!

 

[PVguy]

Took about 30 seconds of looking through their support page:

https://support.scoutmotors.com/en/...-exterior-dimensions-will-scout-vehicles-have

Yep, thanks. Do not know why I did not see that. A little bigger so, yes, I will need to look elsewhere i guess. I have a couple/few years to do that.

 

[DuoRivian]

I will admit that I did not read the article but I think that I have a good idea of what is involved here. And I agree Donald here. When is enough not enough? A large portion of that wealth is built upon the commons that the average taxpayer has built. There is a Senator from Vermont that has been preaching this for 30+ years.
I currently own an R1T and have a reservation on an R2. Give this situation and that I actually need a smaller pickup and Rivian does not have plans for one, I will probably be canceling my R2 reservation and looking for a smaller EV pickup elsewhere. Scout?

I understand the point about building upon society but these people are paying taxes. I wished those that say “pay your fair share” like the senators from VT and MA actually put a number to that.

 

[Donald Stanfield]

I understand the point about building upon society but these people are paying taxes. I wished those that say “pay your fair share” like the senators from VT and MA actually put a number to that.

No, they aren't. These billions are tied up in stock, and until the gains are realized, no tax is paid. Not only that, but what most of these people do is take out loans using their stock as collateral, then as their loan term comes due and their stock value appreciates, they just get another loan based on a percentage of the new value, for more than their last loan was for. They pay off the old loan, use the rest to live on, and rinse and repeat.

If we were going straight taxes like you are probably paying they would be paying BILLIONS a year. Elon has some measly claim about paying a couple hundred million but what is YOUR tax bracket? In the 30% range? What's 30% of 300 billion? Hint, it's a lot more than a couple hundred million.

 

[TexasBob]

The Scout EV truck is bigger than the R1T. For a smaller EV truck, you're waiting on Ford's new platform, Slate, or Telo. I can't think of anything else that might be available in the US.

There is a Kia EV truck that should be hitting US next year. Should be a lot like the Tasman (same size as R1T) which I think would do extremely well here.
https://www.caranddriver.com/news/a64434933/kia-pickup-truck-ev-us-confirmed/
https://worldwide.kia.com/int/tasman

I think I will likely move to the Traveller as a next vehicle. It sounds like they are going to shoehorn everyone into the EREV Harvester version but if they really hit 150 miles AER I will probably bite now that R2 is looking off the table for me.

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