① Nvidia CEO Hwang In-hoon's total salary in the last fiscal year skyrocketed by 60%; ② According to the latest documents, Hwang In-hoon's total salary for the 2024 fiscal year was US$34.2 million; ③ Although his basic salary remained relatively stable at just under $1 million, his salary rose sharply.
Financial Services Association, May 15 (Editor Huang Junzhi) Nvidia is a well-deserved “biggest winner” in the artificial intelligence (AI) boom, and the company's CEO Jensen Huang (Jensen Huang) naturally benefited greatly. Total salary for the last fiscal year soared 60%.
According to the latest documents released on Tuesday afternoon, Wong In-hoon's total salary for the 2024 fiscal year was US$34.2 million. This is higher than the $21.4 million he received in fiscal year 2023 and $23.7 million in fiscal 2022. Although his basic salary has remained relatively stable at just under $1 million, his total pay has risen sharply.
Stock rewards are an important factor in Hwang In-hoon's salary increase in FY2024. In the 2024 fiscal year ending in January of this year, Nvidia's stock price increased by about 200%. According to reports, Hwang In-hoon's latest batch of annual stock awards totaled 26.7 million US dollars, which is about 7 million US dollars higher than the 19.7 million US dollars in fiscal year 2023.
Additionally, Hwang In-hoon also received $4 million in non-equity incentive program compensation. Nvidia pointed out that the company's revenue for the 2024 fiscal year exceeded the “extended compensation plan target”, enabling Hwang In-hoon to receive this revenue. Is it worth noting that he did not receive this award in fiscal year 2023.
Finally, he also received $2.5 million in other benefits to cover expenses such as residential security and consulting fees. Of this, approximately $2.2 million relates to safety, consulting, surveillance, and car and driver services. The previous year, the salary in this area was worth less than 700,000 US dollars.
Nvidia stated in its document: “Due to our CEO's high profile and based on an independently assessed executive safety plan developed by our board of directors, Nvidia provides him with safety protection.” The company stated that Hwang In-hoon only received residency benefits for part of the previous fiscal year and carried out “limited travel.”
Nvidia also said that, driven by the strong performance of data center platforms and the strong demand for artificial intelligence generation, the company's executives' performance indicators have exceeded the target limit. In addition to Hwang In-hoon, Nvidia CFO's salary also increased by about 22%, to around $13.3 million.
Compared to peers such as AMD and Intel Corp. (Intel Corp.), Hwang In-hoon's salary is clearly superior. AMD CEO Lisa Su's total salary in 2023 is $30.4 million, while Intel CEO Pat Gelsinger's salary is $16.9 million.