Jensen Huang rakes in US$21.3 million for fiscal 2023 despite a "tough 2022" for Nvidia
Nvidia has published its 2023 Corporation Annual Review and unsurprisingly, as pointed out by The Register, Jensen Huang’s salary caught the eye. Apparently, the big boss at Team Green was awarded a package worth US$21,356,924 for Fiscal 2023, which included nearly US$1 million as base salary and over US$19.6 million in stock awards. The remaining almost US$700,000 was given as part of “other compensation”, which included things such as residential security, car leasing, and health insurance.
Unfortunately for the Nvidia CEO, this is actually a fall from Fiscal 2022, when he was awarded an overall package worth US$23.7 million. In addition, Huang also missed out on the target amount that had been made available to him for this recent fiscal year, which had been calculated at US$24,999,758. However, that US$3.6 million shortfall shouldn’t bother Team Green’s chief too much as it represents just 0.01368% of his reported US$26.3 billion fortune.
The review offers the following explanation for Huang’s salary deficit despite the company having made US$27.0 billion in revenue and US$4.2 billion operating income for Fiscal 2023:
We had a tough 2022. Our business was affected by economic headwinds, geopolitical tension, and a product supply chain that swung from severe shortage to excess.
Gaming revenue was down by 27% over the year while the automotive sector continues to look more like Nvidia’s newest cash cow to milk (up 60%).