How Nvidia Is Turning Its Employees into Millionaires

When it comes to working at tech companies, the grass isn’t often greener elsewhere—except, it seems, at Nvidia turning its employees into millionaires. The Silicon Valley heavyweight, known for its pioneering graphics technology, is now also famous for making its employees fabulously wealthy, enough to stir up envy even at industry behemoths like Meta and Google.

It’s not often staffers at the likes of Meta and Google are looking enviously at the lifestyle of others, but the going is so good at Nvidia that it’s making Big Tech peers a little green.

Employees of the tech world have been discussing the compensation packages at the Jensen Huang-led firm vs the likes of Mark Zuckerberg’s Meta and Sundar Pichai-led Google.

On Blind—an anonymous forum for professionals in the software and tech space—a user who says they formerly worked at Google asked Nvidia employees: “How rich are you?”

One apparent Nvidia employee, who stated their net worth was around $3 million, responded that the wealth of employees “really depends on your level.”

The individual added they still have $3 million in assets left to vest and were “very comfortable.”

“Bought a $100k family car in all cash and didn’t have to think about it,” the post continued. “Thanks, JHH [Jensen Huang].”

The individual—who said the car they purchased was a “decked out” BMW X7—added they had been promoted within the last year to an Ic6, a principal engineer.

Another user whose profile states they work for Snap wrote: “Wife and I are worth $14.8M at 32, none of us work at NVDA but we live in the Bay Area and have some old-timer friends there.

“Every single one of them is worth over $25m. It’s nuts.” (Nvidia turning its employees into millionaires)

Another user whose profile shows they work for Meta chimed in: “The more I hear about Nvidia employees and their riches, the more jealous I feel. Anybody with me?”

Meta and Google did not immediately respond to Fortune’s approach for comment.

The secret to Nvidia’s appeal lies not just in its innovations but in its lucrative compensation packages, which have become a hot topic among tech professionals. On Blind, a forum where tech workers share insights and often trade anonymous tips, there’s been growing chatter about how Nvidia’s compensation compares to that of other tech giants. One former Google employee, curious about the wealth at Nvidia, posed a question to the community: “How rich are you?”

The responses were eye-opening. One Nvidia staffer shared that their net worth had soared to $3 million, with millions more still tied up in unvested assets. They mentioned how they effortlessly purchased a $100,000 BMW X7, paying in full without hesitation. Such financial freedom, they noted, is thanks to Nvidia’s generous stock incentives and the company’s soaring share price.

It’s no wonder then that others in the tech industry are starting to feel a twinge of jealousy. Another participant, who works for Snap, chimed in to share that although they and their spouse have accumulated a net worth of nearly $15 million, their friends at Nvidia are even better off, with each worth more than $25 million. A Meta employee admitted feeling increasingly envious of Nvidia’s seemingly endless wealth.

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The meteoric rise of Nvidia’s stock price has been a major factor in the wealth creation. Over the past few years, Nvidia’s share price has skyrocketed, making early investments incredibly lucrative. Employees have been able to buy shares at a discounted rate through the company’s employee stock purchase plan, resulting in massive financial gains. Some have even retired early with fortunes built on Nvidia stock alone.

But with great wealth comes great expectations. Nvidia’s CEO, Jensen Huang, is known for setting high standards, a leadership style described by his team as demanding and perfectionistic. Yet, despite the pressure, employees seem content with the balance they’ve struck between work and personal life, often praising the company’s flexible work policies.

Why are Nvidia employees/staff millionaires (so wealthy?)

The ballooning wealth of Nvidia employees is thanks to the rocketing share price of the company, and the organization’s now famously attractive stock incentives.

Through Nvidia’s employee stock purchase plan, employees can contribute up to 15% of their salary to buy company shares at a 15% discount.

This has led to examples including one mid-level employee who bought in for 18 years reportedly retiring with shares worth $62 million, according to Barron’s senior technology editor Tae Kim.

Nvidia’s shares have ballooned over the past few years in particular, leading to the corresponding spike in the net worth of shareholders like employees and CEO Huang.

In October 2022, Nvidia was trading at around $14 a share—today, it has risen to almost $130 a share.

Huang’s net worth, which is largely tied up in the chip-making giant, has also experienced a boost: In October 2022 Huang was worth a little over $11 billion, at the time of writing his fortune is valued at $112 billion, per the Bloomberg Billionaire’s Index, making him the 12th richest person on the planet.

His 3.8% stake in the company is so significant that he can afford to offload hundreds of thousands of shares on a near-daily basis, worth an average of $14m a sale, without it having a massive impact on either the market or his stake.

Nvidia did not immediately respond to Fortune’s approach for comment.

Nvidia’s culture towards its employees

With millionaire status on the line for Nvidia employees, it’s perhaps no surprise that a lot is expected of them at work.

In an interview with 60 Minutes released this Spring Huang was told some of the words his team used to describe him, including “demanding,” “perfectionist,” and “not easy to work for.”

Huang said those descriptors fit him “perfectly,” explaining: “It should be like that. If you want to do extraordinary things, it shouldn’t be easy.”

Staffers for the Santa Clara-based business seemed happy with their work-life balance.

Writing on Blind another user whose profile says they work for Nvidia added the experience of working for Nvidia “depends on the team.”

They explained: “I work 10 am to 5 pm on weekdays and per week one or two night time meetings due to overseas collaborations.

“And people can WFH all days in a week, some of my teammates do.”