Nvidia Employees Prove Capitalism Still Works
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To investors,
The public narrative for wealth creation is that you can’t get rich working for someone else. America has a culture of individualism and entrepreneurship, which has served the country well as we continue to innovate in various industries.
But new data coming out of Nvidia suggests there is an exception to every rule.
In a recent survey of over 3,000 Nvidia employees, approximately 76% reported being a millionaire and 1 out of every 3 employees claim to have a net worth of over $20 million.
These are shocking numbers. If the data is accurate when applied to all ~ 33,000 current employees at the company, there would be 25,000 millionaires created by Jensen Huang and his team. This would not include any prior employees who have worked at the business over the last 30 years but are no longer working there.
That is a mind-blowing statistic, but the even crazier one is that almost 12,000 employees reportedly have a net worth of over $20 million.
This type of wealth creation is typically reserved for the best investors or company founders and executives. There are few companies in history that can boast of turning so many teammates into multi-millionaires.
But there is an interesting takeaway from this data — companies that solve problems in society, especially companies that provide a product that has unlimited demand, are able to generate immense enterprise value.
As Phil Rosen pointed out in Opening Bell Daily today, Nvidia has seen their market cap increase by more than $3 trillion since Chat-GPT launched.
This is in comparison Warren Buffett’s Berkshire Hathaway which just hit a $1 trillion market cap for the first time yesterday. Buffett took decades longer, yet Nvidia has become a 30-year overnight success.
I love seeing incentives line up for founders, employees, and shareholders. These three groups are all-in on the artificial intelligence revolution. If the company can continue to provide the critical infrastructure necessary for the industry to grow, we should expect more millionaires to be minted.
Capitalism is the greatest system created so far. Maybe someone will create a better one in the future, but until that happens we should celebrate when the system works.
Hope you all have a great day. I’ll talk to everyone tomorrow.
-Anthony Pompliano
Founder & CEO, Professional Capital Management
Reader Note: BUILD Summit, our annual conference in NYC for founders, is coming up next month on September 26th.
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The event is free to attend and will be full of insights on how to operate a company at world-class level.
Polina Pompliano, Author of ‘Hidden Genius’ and Founder of The Profile, and Anthony Pompliano, CEO of Professional Capital Management, discuss the US economy, interest rates decision, taxing of unrealized gains, arrest of Telegram CEO, the impact of the two astronauts stranded in space, and more.
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Anthony & Polina Pompliano Discuss Taxing Unrealized Gains and Interest Rate Cuts
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