Rivian CEO RJ Scaringe earned a staggering $403 million last year, a figure that eclipses every other U.S. car chief. The payout, made up of $373 million in stock options and $26.6 million in awards, sits against a backdrop of a company that has lost 86 % of its IPO value. Investors and industry watchers note the stark contrast with the $29 million earned by GM’s Mary Barra or Ford’s Jim Farley.

The board’s deal also earmarks a potential $4.6 billion payoff over the next decade if Scaringe meets a series of ambitious stock‑price and cash‑flow targets. His current salary of $1.1 million will double to $2 million by 2026, while the maximum bonus rises to $1.7 million. The package mirrors Musk’s structure, tying compensation to far‑reaching goals.

Rivian’s valuation now sits at $21 billion, a steep decline from its IPO peak, yet the company is pushing forward with a new mass‑market SUV, the R2, and a $5.8 billion software partnership with Volkswagen. Share prices have recovered modestly—Rivian up 12 %, Ford 25 %, GM 65 %—showing investors remain bullish despite losses.

The stark pay gap underscores how electric‑vehicle pioneers are redefining executive incentives. With Rivian’s board justifying the package as “entirely at‑risk,” analysts point out that the company’s current performance still falls short of the targets that would unlock those shares. Investors will now watch whether the R2 launch and partnerships can lift earnings enough to make the promised rewards a reality.