Nvidia CEO's compensation increases 60%, Jensen Huang is now the 18th richest person in the world

[midian182]

In brief: For helping to turn the company into a $2.28 trillion AI behemoth, Nvidia CEO Jensen Huang was rewarded with a 60% pay rise during the last financial year, taking his total compensation to a massive $34 million. That puts him ahead of rival CEOs Lisa Su and Pat Gelsinger.

By dominating the advanced AI hardware space, Nvidia has seen its share price catapult from $289 in May last year to $913 today. Team Green's $2.28 trillion market cap makes it the third largest company in the world behind Apple ($2.87 trillion) and Microsoft ($3.09 trillion).

CEO Huang actually saw his compensation package for the 2023 fiscal year cut by $2.5 million, or around 10%, because of Nvidia missing financial targets, though he still walked away with $21.3 million.

Nvidia's annual proxy filings show that Huang's compensation increased significantly during the last (2024) financial year, jumping 60% to $34.2 million. It consisted of $26.7 million in stock awards, $4 million in cash bonuses, and $2.5 million for other expenses, which includes the likes of car, drivers, and security at his residence.

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It was reported earlier this year that due to Nvidia's skyrocketing share price, Huang, who owns 3.79% of the company, had reached 21st position on Bloomberg's Billionaire's Index, with a net worth of almost $70 billion. Nvidia's share price has increased almost 45% since then, increasing Huang's net worth to $80.5 billion and pushing him up to 18th place on Bloomberg's rich list.

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It's not only Nvidia's CEO benefitting from the company's success. Business Insider notes that the median employee's take-home pay during fiscal 2024 was $266,939, up 17% compared to the year before. Chief financial officer Colette Kress, meanwhile, received a pay increase of about 22% to $13.3 million.

Huang's $34.2 million compensation is almost double that of Intel CEO Pat Gelsinger's $16.8 million, though the Team Blue boss did receive total compensation of $178.59 million when appointed head of the company in 2021. As for AMD's Lisa Su, she received a $1.2 million salary and $21.85 million in stock awards, with her total compensation reaching $30.35 million.

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Nvidia CEO's compensation increases 60%, Jensen Huang is now the 18th richest person in the world

 

[poohbear]

He's not doing this for the money. He was already billionaire long before AI came on the scene, and $34 million is peanuts for him. He genuinely believes he's helping advance humanity. Look at any of his interviews. He sees himself as leading a transformative technology in AI, and he's right.

The thing is when someone travels in a time machine from the future to assassinate the inventor of AI to stop Skynet, they will be targeting Jensen Huang.

 

[ScottSoapbox]

He’s super rich because of the stock he owns, not this small pay increase.

Don't confuse income and wealth.

They are very different things that often get conflated by the rich to deflect taxation to good earners.

 

[Theinsanegamer]

He's not doing this for the money. He was already billionaire long before AI came on the scene, and $34 million is peanuts for him. He genuinely believes he's helping advance humanity. Look at any of his interviews. He sees himself as leading a transformative technology in AI, and he's right.

The thing is when someone travels in a time machine from the future to assassinate the inventor of AI to stop Skynet, they will be targeting Jensen Huang.

He's built nvidia from nothing, and clearly still has passion for chip design. Say what you will about nvidia, lord knows I have, but he's quite deserving of that value for what he's built. So long as hes around I dont see nvidia going anywhere but up.

 

[yRaz]

He’s super rich because of the stock he owns, not this small pay increase.

Don't confuse income and wealth.

They are very different things that often get conflated by the rich to deflect taxation to good earners.

>small pay increase
I'll take his $34million if he doesn't want it.

 

[Xenocea]

The thing is when someone travels in a time machine from the future to assassinate the inventor of AI to stop Skynet, they will be targeting Jensen Huang.

He's not doing this for the money. He was already billionaire long before AI came on the scene, and $34 million is peanuts for him. He genuinely believes he's helping advance humanity. Look at any of his interviews. He sees himself as leading a transformative technology in AI, and he's right.

The thing is when someone travels in a time machine from the future to assassinate the inventor of AI to stop Skynet, they will be targeting Jensen Huang.

Elon Musk wants to be the savior of the human race. That's why, sometime in the future, he plans to send the Tesla T-101 model to infiltrate Jensen's AI mansion. However, unbeknownst to Elon, Jensen already has a countermeasure in place: the RTX T-1000 AI mode.

 

[ScottSoapbox]

>small pay increase
I'll take his $34million if he doesn't want it.

The author / title make it sound like the $12.8M raise he got is what catapulted him to the 18th richest person when that amount of money is 0.0159% of his wealth.

 

[JupitersMoon]

I wonder how much of this profit increase is being given to employees? Just food for thought..