Nvidia’s remarkable growth in the AI chip market has created a wave of new millionaires among its employees.
A staggering 76% of Nvidia employees are millionaires, with one in three boasting a net worth of $20 million, thanks to a 3,776% rise in stock prices since early 2019. This financial success is driven by the company’s employee stock purchase program, which allows staff to buy shares at a 15% discount.
However, this wealth comes at a cost, as employees report a high-pressure environment characterized by long hours and micromanagement, referring to their lucrative compensation as “golden handcuffs.” CEO Jensen Huang has faced criticism for pushing employees to their limits, leading to internal tensions.
Despite these challenges, Nvidia maintains a low turnover rate of 2.7%, well below the industry average of 17.7%, and was ranked No. 2 on Glassdoor’s “Best Places To Work” list in 2024.