Rivian CEO RJ Scaringe Transfers $130M in Stock to Ex-Wife Amid Divorce Settlement

Rivian CEO RJ Scaringe transferred 4 million shares and 6 million options to his ex-wife Meagan Scaringe as part of a divorce settlement. This reduced Scaringe's ownership stake to around 2% and voting power to 4%, marking the lowest since Rivian's IPO in 2021. The transfer is worth approximately $130 million.

Rivian Automotive Inc. founder and CEO RJ Scaringe has finalized a divorce settlement that significantly alters his ownership and voting power within the company. According to a report, Scaringe transferred approximately 4 million shares and 6 million options to his ex-wife, Meagan Scaringe, as part of the agreement. This shift reduces his voting power from 7.6% to around 4%, marking the lowest since Rivian's IPO in 2021 [1].

The transfer is worth approximately $130 million. Despite the changes in stock ownership, Rivian's business operations remain unaffected, as stated by the company. Scaringe retains a mix of approximately 50 million shares, options, and Restricted Stock Units (RSUs) that are yet to fully vest.

Rivian is currently focused on expanding its vehicle lineup with the upcoming R2 SUV, expected to launch in 2026. The company has also entered into a strategic joint venture with Volkswagen valued at $5.8 billion, positioning the German automaker as a major stakeholder with a 12.3% ownership. Meanwhile, Amazon holds the largest voting power at 13.3% with a 14.2% stake [1].

The recent changes in ownership structure at Rivian come amidst the company's continued expansion and strategic partnerships. As Rivian prepares for future growth, the impact of Scaringe's reduced ownership and voting power will be closely watched by investors and industry observers.

References:
[1] https://www.indexbox.io/blog/rivian-ceo-rj-scaringes-divorce-settlement-alters-company-ownership/