Musk said the true test of rival Rivian is when they are “able to achieve high production and breakeven cash flow.”
Musk’s comment has led people to compare Elon Musk and Rivian founder & CEO RJ Scaringe.
TheStreet took a closer look at these companies.
Scaringe founded Rivian in 2009, a year before Tesla went public. In their respective IPOs, Tesla raised $226 million while Rivian raised an estimated $11.9 billion. At present, Rivian’s market valuation is more than $100 billion whereas Tesla is valued over $1 trillion.
At present, Tesla has over 70,750 employees whereas Rivian has over 9,100.
Looking at both CEOs personal wealth, Musk is the richest person on earth while Scaringe’s net worth is around $2.2 billion.