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

[TerryInHouston]

This is where you and I differ. I don't think children being able to eat or someone being able to afford their insulin is a political issue. Still, it is the bare minimum for a supposedly advanced society. There is a basic standard of living that we are failing to meet for everyone. Until we do people shouldn't be hoarding billions of dollars.

No one here is advocating for the end of wealth, but the truth is that a person who makes $ 500,000 a year gets paid only 0.01% of what RJ's pay package here is. I've asked several people here, and so far, no one has had a valid answer, so I'll pose the question to you. How is someone's quality of life improved from $100 million to $ 1 billion? 100MM is 10X less than 1B, yet no one here has been able to supply a reason why our society should be set up where that kind of wealth exists.

Especially with Rivian getting government-subsidized Department of Energy loans. How can anyone justify providing public money so someone can hoard billions of dollars when you can throw a rock and hit three people who avoid going to the doctor when sick because they can't afford the bill?

You are pretending medicare medicade and state programs are paused.......

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.

-------- you miss quote peoples pay ---- Ford and GM make $100m plus with options and bonuses ...... regardless - I think everyone posting on this topic should make minimum wage - since some others have to work for minimum wage so should you !!!!!!!!!!!......

That is a socialist !

Sponsored

 

[Donald Stanfield]

You are pretending medicare medicade and state programs are paused.......


-------- you miss quote peoples pay ---- Ford and GM make $100m plus with options and bonuses ...... regardless - I think everyone posting on this topic should make minimum wage - since some others have to work for minimum wage so should you !!!!!!!!!!!......

That is a socialist !

This is a lazy false equivalence. You can do better. Someone making 500k a year,which im sure youd agree is a good living, makes 0.01% of RJ’s package here. That’s a far cry from minimum wage and literally no one is saying everyone should make minimum wage.

You still haven’t answered my question, how does someone’s quality of life improve from 100MM to 1 B dollars?

 

[mkg3]

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.

You're one of those... Who wants to tax people for unrealized gains. These are not real wealth, but paper wealth and want to tax them now. When gains turn to losses, I bet you don't want the losses to offset the gains either.

As for actually paying taxes, its a fact that the top 20% pay majority taxes in this country already.

Fix the tax code - yes we probably agree. How we fix it - we probably do not agree. The way I think about real fairness, is to have a flat tax of 15% that applies everyone. Make the first $50K for single and $100K for joint exempted from taxes and the rest is all taxed at 15% - Done. No more special interest and deductions. More you make, more you pay in magnitude but with the same rate.

If you don't like the top 0.01% taking loans against their stocks, then tell your representatives to change the law. Not tax others by taxing the unrealized gains.

 

[Donald Stanfield]

You're one of those... Who wants to tax people for unrealized gains. These are not real wealth, but paper wealth and want to tax them now. When gains turn to losses, I bet you don't want the losses to offset the gains either.

As for actually paying taxes, its a fact that the top 20% pay majority taxes in this country already.

Fix the tax code - yes we probably agree. How we fix it - we probably do not agree. The way I think about real fairness, is to have a flat tax of 15% that applies everyone. Make the first $50K for single and $100K for joint exempted from taxes and the rest is all taxed at 15% - Done. No more special interest and deductions. More you make, more you pay in magnitude but with the same rate.

If you don't like the top 0.01% taking loans against their stocks, then tell your representatives to change the law. Not tax others by taxing the unrealized gains.

Actually I’m not one of those, because taxing unrealized gains would open the door to get credit for unrealized losses and that would make our country worse off than we are now. Flat tax plus perhaps wealth taxes above a threshold would go a long way to fixing income inequality.

As would banking regulations to disallow loans using stock as collateral. Billionaires can’t have it both ways. It cannot be both not actual money and loan collateral. Realistically nothing is going to be fixed without taking lobbying out of politics. It starts with everyone demanding better out of our government though, and if you agree that it’s unfair that billionaires pay less taxes as a percentage than the middle class, regardless of how you think it should be fixed, you and I are on the same side.

 

[Hereforthesnacks]

-------- you miss quote peoples pay ---- regardless - I think everyone posting on this topic should make minimum wage - since some others have to work for minimum wage so should you !!!!!!!!!!!......

That is a socialist !

lol huh? Where do you get your definitions?

 

[TerryInHouston]

Actually I’m not one of those, because taxing unrealized gains would open the door to get credit for unrealized losses and that would make our country worse off than we are now. Flat tax plus perhaps wealth taxes above a threshold would go a long way to fixing income inequality.

As would banking regulations to disallow loans using stock as collateral. Billionaires can’t have it both ways. It cannot be both not actual money and loan collateral. Realistically nothing is going to be fixed without taking lobbying out of politics. It starts with everyone demanding better out of our government though, and if you agree that it’s unfair that billionaires pay less taxes as a percentage than the middle class, regardless of how you think it should be fixed, you and I are on the same side.

40k middle class pays almost nothing in taxes. Look it up...

 

[Donald Stanfield]

40k middle class pays almost nothing in taxes. Look it up...

By percentage? They pay a higher percentage of their income than billionaires do.

 

[TerryInHouston]

By percentage? They pay a higher percentage of their income than billionaires do.

Not true look it up. My my mom makes 39 k. Pays zero taxes

So called middle class pay no taxes..... tell us yours?,?,,

I paid 24% of 1 million and happy to pay I love America

 

[Hereforthesnacks]

40k middle class pays almost nothing in taxes. Look it up...

$40k stopped being middle class 30 years ago. lol

 

[TexasBob]

FWIW, both are right. Middle class total tax burden % is higher than wealthy (payroll, sales, property, income) but federal income tax burden is lower.

Unrealized gains when monetized through equities collateralized loans become de facto realized (or at least partially realized). Simply not allowing equity collateralized loans would put a stop to the practice.

But all far afield of the original topic of RJs unearned and over the top pay package after crushing his investors to the tune of an >80% loss, getting paid $10 million along the way, having a $60 million current equity and now getting a free reset while his investors (not me) get bumpkis.

 

[TerryInHouston]

$40k stopped being middle class 30 years ago. lol

Maybe in your world.... answer the question. .. how much did you pay in taxes?

 

[Hereforthesnacks]

Maybe in your world.... answer the question. .. how much did you pay in taxes?

Bro, $40k ain’t middle class in the USA lol.

I paid more than the number you gave for yourself.

 

[Dark-Fx]

You are pretending medicare medicade and state programs are paused.......


-------- you miss quote peoples pay ---- Ford and GM make $100m plus with options and bonuses ...... regardless - I think everyone posting on this topic should make minimum wage - since some others have to work for minimum wage so should you !!!!!!!!!!!......

That is a socialist !

How many non-Tesla EVs have you purchased?

Maybe in your world.... answer the question. .. how much did you pay in taxes?

Let's see the purchase orders and VINs too.

 

[Dark-Fx]

You're one of those... Who wants to tax people for unrealized gains. These are not real wealth, but paper wealth and want to tax them now. When gains turn to losses, I bet you don't want the losses to offset the gains either.

I'm one of those who think anyone with more than a billion dollars in "unrealized gains" should be forced to realize them. Are you? If not, why are you a billionaire apologist?

 

[TerryInHouston]

I'm one of those who think anyone with more than a billion dollars in "unrealized gains" should be forced to realize them. Are you? If not, why are you a billionaire apologist?

Just another socialist - if someone has $1 dollar more than you .... you want it !!!!

Sponsored