Nvidia boss collected $34.2 million extra last year

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Elon Musk laughs at the poor person.

 Nvidia’s head honcho, Jensen Huang, had a right royal payday last year, all thanks to the booming demand for the firm’s AI chips.

Huang, who helped kickstart Nvidia, pocketed a cool $34.2 million for the fiscal year, which stretches from February to January, as per the company’s yearly proxy statement.

For the 2024 fiscal year, Huang’s total take-home was a whopping 60 per cent higher than the previous year, where he bagged $21.4 million, the paperwork filed on Tuesday shows.

His pay packet was stuffed with $26.7 million in stock awards, $4 million in cash bonuses, and an extra $2.5 million for bits and bobs like home security and a car and driver.

Huang’s cash windfall coincided with Nvidia’s shares going through the roof, riding the wave of the AI craze.

In related news, the clamour for Nvidia’s chips is so intense that Huang had to reassure the money boffins during his fourth-quarter chinwag that they were dishing out the chips on the level.

Nvidia’s not spilling the beans on its first-quarter figures until next week, but it’s already stealing the show this earnings season with its AI chips.

The hunger for AI chips has seen Nvidia’s shares triple over the last year, catapulting the $2.3 trillion outfit to the third spot in the global value rankings, right behind Microsoft and Apple.

This share price leap has also fattened Huang’s wallet considerably, making him the world’s 18th richest bloke, with a stash worth $80.5 billion, mainly because he owns a 3.8 per cent slice of Nvidia.

But it’s not just Huang who’s seen his bank balance balloon.

Colette Kress, the chief bean counter at Nvidia, saw her compensation swell by about 22 per cent to $13.3 million last year.

The median Nvidia worker trousered $266,939 in fiscal 2024, 17 per cent more dough than the previous year. 

In comparison, Elon Musk takes home $92 billion a year, but we are sure he is worth 3000 Huangs.