RJ Scaringe

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RJ Scaringe
Scaringe in 2018
Born (1983-01-19) January 19, 1983 (age 42)
Rockledge, Florida, U.S.
EducationRensselaer Polytechnic Institute (BS)
Massachusetts Institute of Technology (MS, PhD) [1][2]
OccupationEngineer
TitleCEO of Rivian Automotive, Inc.
Spouse
Meagan McGone
​
(m. 2014)​
Children3

Robert Joseph Scaringe (born January 19, 1983) is an American engineer and former billionaire.[3] He is the founder and chief executive officer (CEO) of electric vehicle manufacturer Rivian.[4]

Early life and education

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Robert Joseph Scaringe was born on January 19, 1983.[5] His father, also named Robert Scaringe, is an engineer and founder of Mainstream Engineering Corporation.[6] Scaringe grew up a car enthusiast, restoring them in his neighbor's garage. After learning of the great negative environmental effects of cars, however, he decided to focus his life on creating a more sustainable and environmentally friendly transportation system.[7]

Scaringe grew up in Melbourne, Florida.[8] He attended Melbourne Central Catholic High School.[9] Scaringe received his bachelor's degree in mechanical engineering from Rensselaer Polytechnic Institute. He then received a master's degree in mechanical engineering at the Massachusetts Institute of Technology (MIT) and went on to also receive a doctorate in mechanical engineering at MIT's Sloan Automotive Lab.[10][11]

Career

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Scaringe returned to Rockledge, Florida, and founded Mainstream Motors in the year of 2009 as the sole employee. The name of the company changed to Rivian Automotive in 2011.[12][13]

In November 2021, Rivian went public, listing its shares on the Nasdaq.[14]

Scaringe is chairman of the board and has 9.5% voting power. Additionally, he has veto power over board decisions due to his 100% ownership of the company's class B shares.[15] In total, Scaringe owns about 1.4% of Rivian.[16]

Personal life

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Scaringe married Meagan McGone in Michigan in August 2014. The couple has three children together.[17]

According to Forbes, Scaringe's net worth was estimated at $3.4 billion as of April 2021, but he lost his billionaire status in March 2022 due to Rivian's declining share value.[16][18]

References

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  1. ^ Gallagher, Mary Beth,"Alumni Profile: RJ Scaringe SM ’07, PhD ‘09", MIT Department of Mechanical Engineering News, November 24, 2019.
  2. ^ "Transportation Transformation", RPI Alumni magazine, Fall 2019
  3. ^ "Who is Rivian's billionaire founder R.J. Scaringe?". CNBC. November 11, 2021. Retrieved November 11, 2021.
  4. ^ Joyner, April. "Rivian's founder, R.J. Scaringe, is a billionaire, in spite of his company having sold almost no vehicles in its twelve years of existence, but his stake in the $91 billion company is surprisingly small. Amazon owns much more". Business Insider. Retrieved November 11, 2021.
  5. ^ Arlidge, John (April 20, 2024). "RJ Scaringe: The electric vehicle boss taking the fight to Elon Musk". The Sunday Times. ISSN 0956-1382. Retrieved June 19, 2024.
  6. ^ "Conflict of interest? Rep. Debbie Mayfield's husband appointed to board of trustees months before wedding". TCPalm. February 19, 2016. Retrieved December 2, 2021.
  7. ^ Gallo, Carmine (November 10, 2021). "Rivian Founder RJ Scaringe Uses Storytelling To Power His IPO Presentation". Forbes. Retrieved December 7, 2021.
  8. ^ Schwartz, Nelson (July 2, 2019). "Meet the Man Quietly Building the Tesla of Trucks, With Jeff Bezos Aboard". The New York Times. Retrieved December 2, 2021.
  9. ^ McCarthy, John (November 10, 2021). "Rivian Autmotive, founded by a Brevard native, goes public. It's now worth $100 billion". Florida Today.
  10. ^ Tannert, Chuck (February 8, 2019). "Meet R.J. Scaringe, Founder Of Rivian Automotive—And Tesla's Worst Nightmare". Forbes Wheels. Retrieved December 2, 2021.
  11. ^ "Dr. R.J. Scaringe". Obama White House. February 7, 2012. Retrieved December 3, 2021.
  12. ^ Denham, Ryan (January 9, 2018). "Searching for Clues Into Rivian's Electric Vehicle Future". WGLT. Retrieved August 15, 2021.
  13. ^ Katje, Chris (November 11, 2021). "5 Things You Might Not Know About Rivian Founder RJ Scaringe". Benzinga. Retrieved December 3, 2021.
  14. ^ Matthew, Johnston (November 15, 2021). "Rivian IPO: What Happened and Why it Matters". Investopedia. Dotdash. Retrieved December 3, 2021.
  15. ^ Levy, Ari (November 11, 2021). "Rivian founder R.J. Scaringe is worth $2.2 billion after his company's two-day IPO pop". CNBC. Retrieved December 3, 2021.
  16. ^ a b "RJ Scaringe". Forbes. Retrieved December 21, 2021.
  17. ^ Shah, Ambrish (November 10, 2021). "RJ Scaringe's Rivian Automotive Is Set To Go Public—What's Scaringe's Net Worth?". Market Realist. Retrieved December 3, 2021.
  18. ^ "Rivian Founder RJ Scaringe No Longer A Billionaire After Stock Dip". Forbes. March 3, 2022. Retrieved June 25, 2024.