Nvidia stock grew 171% in 2024, creating a new billionaire.
Tench Cox, 66, a member of Nvidia’s board of directors since 1993, has been included in the Bloomberg Billionaires Index for the first time, the newspaper reported on Thursday.
Cox is now worth $5.4 billion, according to the index. He is NVIDIA’s third-largest individual with 32 million shares, behind Nvidia co-founder and CEO Jensen Huang (75 million shares) and fellow director Mark Stevens (38 million shares). Be a shareholder.
Cox isn’t the only billionaire board member at Nvidia. Stevens was first included in the Bloomberg Billionaires Index in July 2024 and has a net worth of $9.3 billion at the time of writing. Another director, Harvey Jones, who joined Nvidia when it was founded in 1993, owns $1 billion in Nvidia stock, according to Bloomberg. Mr. Hwang is also a member of the company’s board of directors and is worth more than $120 billion. He was listed as the first billionaire by Forbes magazine in 2017.
Related: He bought Nvidia stock in 1993. Today, it’s the backbone of his $8.8 billion net worth.
Coxe, Stevens and Jones have each served on Nvidia’s board for more than 30 years. Their net worth and Huang’s fortune make Nvidia’s board one of the richest in the world, according to Bloomberg.
Jensen Huang, CEO of Nvidia. Photo by Chip Somodevilla/Getty Images
It’s not just Nvidia’s top executives who have benefited from the company’s soaring stock price. Nvidia’s more than 2,200% surge over the past five years has turned its long-term employees into millionaires.
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A June poll of more than 3,000 Nvidia employees found that 76% were billionaires, with one-third having wealth of more than $20 million. Nvidia has approximately 30,000 total employees.
Even though the majority of respondents were billionaires, a Bloomberg report in August showed they were still working hard. The report reveals Nvidia’s culture and expectations and concludes that the company has a “pressure cooker” environment.
Still, Nvidia has no problem keeping its employees employed. The fiscal year 2024 sustainability report details that overall sales were 2.7% compared to the industry average of 17.7%.
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