Rivian founder and CEO RJ Scaringe has transferred some of the ownership and votes as part of the newly resolved divorce proceedings, according to regulatory filings.
Scaringe moved about 4 million shares and 6 million options to his ex-wife, Meagan Scaringe, on July 9th as part of the settlement. At Rivian’s current stock price, these stocks and options are worth around $130 million, but there are various strike prices that will affect total revenue if sold. The change in share ownership comes at the end of a two-year divorce proceeding, court documents show.
Scaringe owned 8 million shares, over 15 million Class A shares, and nearly 8 million Class B shares when it filed its annual proxy report on April 29th. As a result of the transfer, Scaringe’s voting rights have dropped from 7.6% earlier this year to around 4%.
According to the company, changes in stock ownership will not affect Libian’s business or operations.
In an official statement emailed to TechCrunch, the spokesman said, “RJ and Meagan have concluded their divorce and they will continue to prioritize co-parents of their children.”
Reconciliation is at a crucial time for Libian. Rivian has redesigned its R1S SUV and R1T trucks to reduce manufacturing costs while improving flagship performance. However, the company is adding to its next lineup (the highly anticipated R2 SUV with a base price of $45,000) to boost sales. The vehicle will not be sold until the first half of 2026.
Libian’s ownership structure has shifted since the 2021 IPO. At the time, Amazon and Ford were one of the biggest stakeholders. Today, Ford is essentially out and the Volkswagen Group has emerged as a major player.
In late 2024, Libian won a $5.8 billion joint venture with Volkswagen, focusing on software and electrical architecture. While Libian offers technology and employees to joint ventures, Volkswagen has mostly donated money in the form of stock purchases and convertible debt.
As a result, German automotive giant currently owns 12.3% of Libian, according to a recent submission. This leaves us slightly behind Amazon, which owned 14.2% of Libian at the time of its proxy application in April 2025. It is enough to give Amazon the most voting rights of a single shareholder: 13.3%. (Ford and T. Rowe Price were also major shareholders after the IPO, but have since sold their shares.)
According to proxyfiling, Libian’s ownership of Sculling was 2% of the divorce settlement. However, he gained a 7.6% share of the voting rights. This is thanks to Class B stocks with 10 votes per share. (Rivian’s Class A shares only have one vote per share.) The transfer of the settlement’s shares and options reduces his voting power to about 4%.
Unlike many well-known high-tech founders, Scaringe never put a huge amount of voting rights after IPOs. He exercised 9.2% in 2022. That figure did not change in 2023, falling to 8.7% in 2024, and again to 7.6% in 2025 after Volkswagen’s investment.
Class B stocks included in the settlement were automatically converted to Class A stocks. This means that Sculling’s ex-wife may not have much voting rights for other shareholders if she maintains her holdings. The attorney representing her did not respond to requests for comment submitted over the weekend.
The CEO and founder still manage a mix of approximately 50 million shares, options, and restricted stock units or RSUs. His ownership and voting power could be receding due to their complete advantage.
Scaringe founded Rivian in 2009 and married in 2014. He won Rivian Public in 2021.
Records obtained from Orange County Superior Court show that he filed for divorce in October 2023, and his ex-wife agrees to separate in another filing in a month.
Source link
