In the wave of artificial intelligence (AI), Nvidia is undoubtedly the "biggest winner", and its CEO Jensen Huang naturally benefited greatly, with a 60% increase in total salary in the previous fiscal year.
According to the latest document released on Tuesday afternoon, Huang Renxun's total salary for the 2024 fiscal year is $34.2 million. This is higher than the $21.4 million he received in the fiscal year 2023 and $23.7 million in the fiscal year 2022. Although his basic salary remains relatively stable at slightly below $1 million, his total salary has increased significantly.
Stock rewards are an important factor contributing to Huang Renxun's salary increase in the 2024 fiscal year. In the fiscal year ending in January 2024, Nvidia's stock price rose by approximately 200%. It is reported that Huang Renxun's latest batch of annual stock rewards totaled $26.7 million, which is approximately $7 million higher than the $19.7 million in the 2023 fiscal year.
In addition, Huang Renxun also received a non equity incentive plan salary of $4 million. Nvidia pointed out that the company's revenue for the 2024 fiscal year exceeded the "extended compensation plan target", allowing Huang Renxun to receive this revenue. It is worth noting that he did not receive this reward in the 2023 fiscal year.
Finally, he also received $2.5 million in other subsidies to cover expenses such as residential security and consulting fees. Approximately $2.2 million of this is related to safety, consulting, monitoring, and automotive and driver services. And the previous year's salary value in this area was less than $700000.
Nvidia stated in its documents, "Due to the high profile of our CEO and the independent evaluation of our executive safety plan developed by our board of directors, Nvidia provides him with security protection." The company pointed out that Huang Renxun only received partial annual residential security benefits in the previous fiscal year and had "limited travel".
Nvidia also stated that, driven by the strong performance of data center platforms and the strong demand for artificial intelligence, the performance indicators of company executives have exceeded the target upper limit. In addition to Huang Renxun, the compensation of NVIDIA CFO has also increased by approximately 22%, reaching around $13.3 million.
Compared to peers such as AMD and Intel Corp., Huang Renxun's salary is clearly superior. AMD CEO Lisa Su's total salary in 2023 was $30.4 million, while Intel CEO Pat Gelsinger's salary was $16.9 million.