Lucid and Rivian awarded CEOs more than $400 million in pay last year

The bosses of electric vehicle startups Lucid Group Inc. and Rivian Automotive Inc. each received compensation packages last year worth more than $400 million as the two companies rushed to public markets and ramped up production in the growing electric vehicle market .

Equity was the bulk of Lucid CEO’s nearly $566 million compensation Pierre Rawlinson and $422 million for Chef Rivian RJ Scaringe. The reported salary is a big increase from 2020 and reflects, in part, the companies’ growth ambitions. What executives ultimately receive will rise or fall with company stock prices, and some of the stock awards could expire worthless if targets are not met or deviate.


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