Nvidia Corporation (NASDAQ:NVDA) CEO Jensen Huang received his first base salary increase in 10 years.
What Happened: The Compensation Committee raised Huang’s total target pay by $7 million, according to a proxy filing with the Securities and Exchange Commission on Thursday.
His base salary rose 50% to $1.5 million, placing him at the 75th percentile compared to peers, and marked his first raise in a decade.
Huang’s target cash bonus remained at 200% of his base salary, bringing it to $3 million, while his target equity award climbed 25% to $27.5 million, slightly above the peer median.
Stock awards rose to $38.8 million, increasing total compensation to $49.9 million.
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The package also included $3.5 million in residential security, consulting fees, and driver services.
Target equity awards for other top executives were also raised by $3 million to $3.5 million to reflect the growing scope and complexity of their roles, while maintaining pay consistency across leadership.
“The CC [Compensation Committee] believed this was appropriate in consideration of internal pay equity with the base salaries of other NEOs and as it represented Mr. Huang’s first base salary increase in 10 years,” the filing read.
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Why It’s Important: In 2024, it was reported that Huang’s total compensation in the last fiscal year was $34.2 million, driven by a 60% boost attributed to Nvidia’s booming role in the artificial intelligence sector.
That package included a $4 million cash bonus and $2.5 million in perks like security and consulting services.
Huang, who co-founded Nvidia in 1993, owns a significant stake in the company and has already made tens of billions of dollars from stock gains.
According to the Bloomberg Billionaire Index, Huang currently has a net worth of $100 billion, making him the 17th wealthiest person in the world.
Nvidia currently has a market capitalization of $2.793 trillion. Nvidia shares have fallen 17.21% so far this year but remain up 28.96% over the past 12 months, according to Benzinga Pro data.
Benzinga Edge Stock Rankings gives the company a robust growth score of 94.78%, reflecting strong performance relative to other leading tech firms.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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