RJ Scaringe, the founder and CEO of upstart electric vehicle manufacturer Rivian, had a dramatic recent shift in his voting power in the company. This change follows a historic divorce settlement. Founded in 2009, Rivian has accomplished quite a bit already, going public in 2021. The recent transfer of shares to his ex-wife, Meagan Scaringe, has reduced his influence in the company he built.
On or around July 9, RJ Scaringe moved nearly four million shares into Meagan Scaringe’s name. He gave her six million options as part of their divorce settlement. This transfer greatly dilutes his voting power, which has gone from 7.6% to just over 4%. Prior to the settlement, Scaringe still personally held over 50 million shares options and RSUs.
Even with this significant roll-back of control, Rivian’s actual day-to-day business won’t be impacted. A spokesperson for Rivian reiterated that the ownership transition has no effect on the company’s existing projects or strategy going forward.
“RJ and Meagan finalized their divorce. They will continue to prioritize co-parenting their children.” – Rivian spokesperson
James Scaringe, RJ’s father RJ and Meagan Scaringe were married in 2014. Though the couple’s separation represents an end to their joint journey, it’s just the beginning for both as they each pursue their own creative and professional lives.
Since then, Rivian has rapidly expanded on and deepened their electric vehicle innovation. Together with Volkswagen, the company has formed a $5.8 billion joint venture, of which they own 51%. This collaboration is expected to shape software and electrical architecture. Under this joint venture, Rivian has delivered technology and staff, and Volkswagen has mostly offered money.
Beyond these strategic partnerships, Rivian has been making significant progress on expanding their product portfolio. It’s no wonder the company has tried to reinvent its flagship R1S SUV and R1T truck multiple times to reduce manufacturing costs and improve overall performance. To turn the tables, Rivian is relying on its next R2 SUV to increase sales. This much-anticipated vehicle will start at $45,000 and should be available in the first half of 2026.
Meagan Scaringe received both shares and options, valued at over $130 million. This valuation, of course, assumes that Rivian’s stock price has stabilized. This record setting divorce evaluation brings into focus the enormous value of the interests at stake in this divorce settlement.
With RJ Scaringe’s leadership at Rivian, the electric vehicle company makes strides toward an electric vehicle future. Although the transfer of shares changes his ability to vote, it doesn’t make Rivian any less ambitious or less able to operate as such. Despite the regulatory turmoil, the company is laser-focused on creating new technology and growing its market share.
