78% of NVIDIA employees are millionaires with 50% having a net worth over $25 million due to getting paid in company equity.

[IIVI]

Wild stat.

30k employees
Market cap $3.5 trillion.

15,000 people worth over $25 million from one company.

Purely remote company.

 

[Geek Nasty]

Pure insanity, great for the employees but how AI got this much hype needs to be bottled and sold

 

[Pull Up the Roots]

Where's the source for this claim?

 

[IIVI]

Where's the source for this claim?

From a few months ago:

Nvidia Employees Become Multi-Millionaires—But At What Price?

Nvidia’s stock surge made employees millionaires, but long hours and pressure are the price. Explore the demanding environment behind the wealth at Nvidia.

www.forbes.com

In an internal meeting, Nvidia's CEO addressed a question about employees in 'semi-retirement' mode as unusual tension grows

Nvidia's employees are suddenly so rich and happy that the company's got a 'semi-retirement' problem, insiders say

www.businessinsider.com

Those granted about $100k in stock 5 years ago via RSU are worth about $4 mil today and get more RSU every year.

If someone were there for only a few years they’d be a multimillionaire.

 

[Richard Glidewell]

That sounds hella dope in theory........that's some shyt I would have droned on until it vested and then I would have retired somewhere reasonably priced........take a part time gig to stay busy......

 

[Pull Up the Roots]

Also, if you were granted about $100k in stock 5 years ago it’s worth about $4 mil today.

Those twitter stock/corporate glazing accounts are bad sources of information.

According to the Entrepreneur article, the number is based on a self-reporting survey of 3k employees out of 30,000. And of those employees, 76% were millionaires. And of those 3k, 1 in 3 or 760 were worth over $20m.

Millionaire Nvidia Employees Still Working Until 2 AM: Report | Entrepreneur

A June poll of Nvidia employees showed that 76% were millionaires and one in three had a net worth of more than $20 million. That doesn't mean they go home at 5 p.m.

www.entrepreneur.com

What is it like to work at Nvidia, the $3 trillion AI chipmaker with a storied work culture over 30 years in the making?

Long-time CEO Jensen Huang said in an interview this year that he rarely conducts layoffs and instead prefers to "torture employees into greatness." It turns out, he might not have been joking.

Being the AI chip brain behind ChatGPT and other popular forms of AI has led Nvidia — and its vested employees — to benefit financially from the AI boom. A June poll of over 3,000 Nvidia employees (out of around 30,000) showed that 76% were millionaires and one in three had a net worth of more than $20 million because of the company's growth. Since October 2022, Nvidia's stock has jumped over 1,000%.

However, a Monday Bloomberg report revealed that though Nvidia's boom may have created millionaires, its work culture and expectations for those employees remain the same: It's a "pressure cooker."

Ten current and former Nvidia employees who spoke with Bloomberg detailed long working hours, yelling and fighting at meetings, and vying for the attention of a supervisor who could have more than 100 other direct reports.

A former enterprise tech support employee claimed he worked every day, including weekends, until 1 a.m. or 2 a.m., and that his engineer coworkers worked longer hours. Other employees claimed to have at least seven meetings a day.

Employees who worked less than the norm were called out at company-wide meetings. In December, Huang faced complaints from staff about their "semi-retired" peers. He responded by asking every employee to become the CEO of their time.

Still, despite reports of a stressful work environment, Nvidia has had no trouble retaining employees. The company's sustainability report for fiscal year 2024 details that overall turnover was 2.7% compared to the industry average of 17.7%.

Nvidia's low turnover rate could be attributed to the way it gives employees access to stock grants. The stock vests over four years, so an employee gradually gains ownership of the award. So it's in the employee's best interest to stick with the company to maximize benefits.

Nvidia is also a famously "flat" organization, with minimal hierarchy, which could make the company an appealing choice. Huang has 60 direct reports.

 

[cyndaquil]

Was hard as fukk to get into that company tho even harder now. Definitely worth it if you were able to get through the interviews

 

[010101]

BIG BUSINESS*

 

[IIVI]

Those twitter stock/corporate glazing accounts are bad sources of information.

According to the Entrepreneur article, the number is based on a self-reporting survey of 3k employees out of 30,000. And of those employees, 76% were millionaires. And of those 3k, 1 in 3 or 760 were worth over $20m.

Millionaire Nvidia Employees Still Working Until 2 AM: Report | Entrepreneur

A June poll of Nvidia employees showed that 76% were millionaires and one in three had a net worth of more than $20 million. That doesn't mean they go home at 5 p.m.

www.entrepreneur.com

I mean business insider and Forbes report the same thing, large number of the workforce insanely wealthy.

Plus the math regarding the stock price.

Stock price in 2020 was around $5.00, if an employee was getting $50k-$100k in stock at the time they’re loaded right now.

Even then, 700 out of 3k surveyed have a net worth over $20 mil. Think about that for a second. How many companies do you know where nearly 700 people have a net worth over $20 mil? At least 700 average people average people have a net worth of $20 mil from a single company. They only surveying 1/10 of employees while reporting a number like that is actually insane.

 

[bnew]

Spoiler: wrong thread

 

[cyndaquil]

I appreciate the titties but wtf this got to do with Nvidia?

 

[bnew]

I appreciate the titties but wtf this got to do with Nvidia?

wrong thread

 

[IIVI]

Pure insanity, great for the employees but how AI got this much hype needs to be bottled and sold

Yeah, the A.I news made them go to the next level.

Their market cap jumped from $1 trillion to $2 trillion in six months. If I’m seeing it right passed $3 trillion a few months later.

Nearly a $2 trillion jump in market cap in about a year.

It took Apple and Microsoft nearly 2 years to make half that jump.

That new Blackwell Chip is supposed to drop this quarter. If that thing is somewhat close to their claims, that company is about to go into the stratosphere.

 

[Mirin4rmfar]

The only way to get out of corporate slavery is to invest in companies like this before they blow. I am sitting on 1200 palantir shares, if it goes on nvidia like run

 

[Pull Up the Roots]

I mean business insider and Forbes report the same thing, large number of the workforce insanely wealthy.

Plus the math regarding the stock price.

Stock price in 2020 was around $5.00, if an employee was getting $50k-$100k in stock at the time they’re loaded right now.

Even then, 700 out of 3k surveyed have a net worth over $20 mil. Think about that for a second. How many companies do you know where nearly 700 people have a net worth over $20 mil? At least 700 average people average people have a net worth of $20 mil from a single company. They only surveying 1/10 of employees while reporting a number like that is actually insane.

Business Insider and Forbes are reporting the same thing Entrepreneur is reporting.

You're right that Nvidia has made a lot of employees wealthy, but I also think it's important to report on what's actually happening.

Those tweets are trying to paint an overly rosy picture that ignores the reality of Nvidia's brutal work culture. The Forbes articles details some of this. They have a quote from the CEO talking about how he likes to "torture employees into greatness." And that sounds exactly like what they're actually doing, so those workers damn well deserve to benefit from that growth, especially when they're being pushed to work 7 days a week until 1 to 2 am.

They also detail the "golden handcuffs" thing where people can't really leave the company because their stock grants only vest over four years. So they end up being stuck working these insane hours just to keep the stock money coming in. They also talk to employees who said they'd have left sooner if not for that. It's good that they make a lot, but it's bad how they get burned out in the process. Still, I guess it's cool to see, but I think we should keep in mind that the pressure they're under is a huge part of how all this money got made.