Edited by flynne
Nvidia employees have gained huge wealth due to stock plans, triggering a "semi-retirement" trend, and some employees tend to rely on stock awards, resulting in inactive work, which also makes the company's management challenging.
Can even a mid-level employee become a multi-millionaire?
Doesn't it seem incredible!
A recent tweet by Tae Kim, a senior contributor to Barron's, vividly illustrates the amount of wealth that can be gained by helping drive a successful company forward.
Kim said that a "mid-level" employee at Nvidia (not an engineer) has made the most of the Employee Stock Purchase Plan (ESPP) for 18 years and has firmly grasped this "green gold".
When he left Nvidia, he had amassed a fortune of $62 million, so the company's stock plan was a great incentive for employees.
Many netizens said that it was incredible, this is enough to buy a very good house!
There are also rational netizens who said that this is a completely normal welfare package, because they have caught up with the soaring stocks, so they have obtained such a large amount of wealth.
It is a reasonable gamble, and it pays off.
Either way, such a large fortune is very exciting!
(Whether you are excited or not, the editor is very excited anyway)
Nvidia calls their ESPP program the best in the industry, allowing employees to buy company shares at a 15% discount to market price with 10-15% of their salary.
The lucky or more accurately, smart employee is said to have left Nvidia with a whole bunch of $62 million worth of stock.
It must have been difficult to get some of that cash into from time to time while holding the shares, but Kim asserted that the man "never sold them during his tenure."
Needless to say, $62 million is also a considerable "pension".
However, not everyone who has leveraged Nvidia's ESPP during the rocket-fueled share price rally of recent years has been able to reap such a huge return.
An early Nvidia employee (engineer) who once owned a million shares of Nvidia.
Unfortunately, the "$500 million mistake" was created because his broker used another stock as collateral and the stock fell by 90%, causing the employee to sell his Nvidia stock to cover the loss.
Curtis Priem和英伟达(Nvidians)的半退休模式
This is perhaps not the first time we've heard about the treatment of Nvidia employees.
It has been reported that Curtis Priem, the co-founder of Nvidia, cashed out early on.
Curtis Priem graduated from Rensselaer Polytechnic Institute in 1982 with a degree in electrical and computer engineering and worked as a senior engineer at Vermont Microsystems, a PC company, and subsequently as a hardware engineer at GenRad, an electronic test equipment company.
An inventor with nearly 200 patents, he helped design the first-ever graphics processor for a PC in the early '80s, and later co-founded the semiconductor company Nvidia, where he spent a decade serving as its first CTO.
If Priem continues to hold Nvidia's shares, it will be worth more than $70 billion.
However, this "loss" does not seem to matter to Priem, who has a personal fortune of about $30 million.
(Rich and rich, I don't care about these)
However, there seems to be a problem with Nvidia, with reports that most of Nvidia's wealthy employees are in semi-retirement.
What is semi-retirement?
Conventional wisdom is that retirement is when people stop working altogether.
Semi-retirement, on the other hand, is the transition to full retirement, during which people usually work fewer hours, either work with their original employer, or take on a new part-time job.
Nvidia employees became wealthy and happy from the company's stock purchase plan, triggering a trend of "semi-retirement."
Earlier, Nvidia CEO Jensen Huang spoke about the issue of some employees within the company appearing to be in a state of "semi-retirement".
He likened Nvidia's work to a "voluntary movement," urging each employee to act as the "CEO" of his or her own time.
Reports also say that tensions among Nvidia employees stem from the fact that the company's stock has grown sharply and many employees have become wealthy.
While Nvidia's pro-employee culture has historically avoided layoffs in favor of team moves, this can lead to a phenomenon known as "rest and vest," in which employees do nothing at work and wait for stock awards to expire.
They may not put much effort into the work or rely on the stock awards they have earned or will receive.
This can lead to employees showing a less positive attitude at work because they feel that their financial goals have been met and they no longer need to put in more effort for the company's success.
In the face of increased pressure from competitors, Nvidia faces challenges in balancing the company's management style with keeping employees motivated.
Resources:
https://www.tomshardware.com/pc-components/gpus/nvidia-employees-make-fortunes-and-foul-ups-with-their-stock-options-a-story-of-millionaire-winners-and-losers