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Benzinga
35 days

Rivian CEO Joins Bezos & Gates Divorce Club—Voting Power Slashed Before R2 Debut

1. RJ Scaringe transferred shares to ex-wife, valued at $130 million. 2. Scaringe now owns around 2% of Rivian with 4% voting power. 3. Volkswagen and Amazon hold significant shares in Rivian post-transfer. 4. Scaringe's voting power has decreased from 9.2% in 2022 to 4%. 5. CEO ownership changes may influence future acquisition interest.

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FAQ

Why Bearish?

RJ Scaringe's reduced ownership and voting power may destabilize investor confidence, similar to other high-profile divorces impacting stock valuations.

How important is it?

The ownership change of a founding CEO typically raises questions about stability and control, impacting company perception.

Why Long Term?

Scaringe’s ownership decline could reflect on governance and strategic decisions, potentially hindering long-term company direction and investor sentiment.

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