August 29, 2024 – Amidst the proliferation of millionaires fostered by NVIDIA’s success, a veil of intense work pressures and a lifestyle devoid of leisurely indulgence in their newfound wealth has emerged, according to a Bloomberg report.
NVIDIA employees reportedly operate on a near-constant seven-day workweek, with late-night sessions frequently stretching until the wee hours of 2 AM. A dozen insiders, both past and present, characterize the corporate environment as a “pressure cooker,” where meetings often escalate into heated debates.
A former marketing professional at NVIDIA recounted her daily routine of attending up to ten conferences, each attended by over thirty individuals, marked by contentious exchanges and a sense of combativeness. Despite this, employees silently endure, tethered by the promise of equity incentives, colloquially referred to as “golden handcuffs.”
Since 2019, NVIDIA’s stock has soared by an astonishing 3776%, and with stock vesting schedules typically spanning four years, employee turnover remains relatively low. This has translated into a high likelihood of millionaire status for those who have remained with the company over the past five years.
Remarkably, NVIDIA witnessed a reduction in its employee turnover rate from approximately 5.3% last year to just 2.7% following its market valuation surpassing $1 trillion. This figure stands in stark contrast to the semiconductor industry’s average turnover of roughly 17.7%.
A former engineer at NVIDIA revealed that tenured employees, with over a decade of service, have amassed fortunes sufficient for retirement yet choose to continue working in pursuit of even greater wealth. Tales of newly minted millionaires flaunting their new vacation homes and competing to secure tickets to prestigious events like the Super Bowl and NBA Finals abound.
The NVIDIA parking lot serves as a testament to this affluence, with an array of high-end vehicles like Porsches, Corvettes, and Lamborghinis gracing its spaces. A real estate agent shared with Bloomberg that multiple NVIDIA employees have the financial means to put down 40% to 60% down payments on multimillion-dollar properties without hesitation.
Employees also cited CEO Jensen Huang’s demanding nature and relentless pursuit of perfection, acknowledging that he is not an easy individual to work with. Huang himself has embraced these traits, stating in a past CBS ’60 Minutes’ interview that his rigorous standards are “perfectly suited” to his vision, as he believes that “extraordinary achievements don’t come easy.”
