• Wed. May 29th, 2024

Nvidia CEO Jensen Huang receives a salary increase of 60% to $34 million

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May 15, 2024

Nvidia CEO Jensen Huang received a significant compensation package last year due to the strong demand for the company’s AI chips. In the 2024 fiscal year, Huang’s compensation totaled $34.2 million, which was a 60% increase from the previous year. The package included $26.7 million in stock awards, $4 million in cash bonuses, and $2.5 million for other expenses like residential security and car and driver services. This surge in compensation came as Nvidia’s share price rallied on the back of the AI frenzy.

Due to the high demand for Nvidia’s chips, Huang had to reassure analysts during the fourth-quarter earnings call that the company was distributing them fairly. The company’s dominance in the earnings season with its AI chips has resulted in a tripling of its share price over the past year, making it the third most valuable company in the world. Huang’s personal wealth has also grown significantly, making him the 18th-richest man in the world with a fortune of $80.5 billion, largely due to his 3.8% stake in Nvidia.

Other Nvidia executives have also seen increases in compensation, with Chief Financial Officer Colette Kress receiving about 22% more at $13.3 million. Additionally, rank-and-file employees also enjoyed pay increases, with the median employee earning $266,939 in fiscal 2024, a 17% increase from the year before. Nvidia’s share price closed 1.1% higher at $913.56 on Tuesday, with the stock up 85% so far this year and more than 200% over the past 12 months.

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