Rivian CEO Earns $403 Million in 2024 as Company Delivers 42,200 EVs in U.S. Last Year

RJ Scaringe, founder and CEO of Rivian, received total compensation of $403 million in 2024, comprising $373.5 million in stock options, $26.6 million in stock awards, and $1.12 million in base salary. By comparison, Ford CEO Jim Farley earned $27.5 million and General Motors CEO Mary Barra received $29.9 million during the same period. In 2024, Rivian delivered 42,247 electric vehicles in the U.S., far below Ford’s 2.2 million and GM’s 2.85 million U.S. sales. Tesla’s global deliveries in 2025 are projected to reach approximately 1.65 million units. Although Rivian achieved its first-ever gross profit in 2025 and began mass production of its compact R2 SUV, its stock price has fallen sharply from the peak reached shortly after its 2021 IPO and has traded below $20 for most of the past three years. In November 2024, Rivian’s board eliminated Scaringe’s performance-based compensation plan established in 2021, citing overly ambitious and unrealistic targets. Under a new agreement, his base salary will increase to $2 million, and he could earn up to $4.6 billion through stock options if the company’s share price reaches $140 within the next decade. Rivian’s IPO price in 2021 was $130 per share.