New figures claim that Intel CEO Pat Gelsinger saw a significant increase in his revenue in 2023, but this was still only just over half of what Lisa Su, CEO of rival company AMD, earned.
According to Market overviewGelsinger’s total compensation in 2023 was $16.86 million, a 45% increase over his 2022 earnings of $11.61 million, as shown in Intel’s 2024 proxy statement. In contrast, Su’s total compensation for 2023 was $30, 35 million, barely more than her 2022 compensation of $30.22 million.
Gelsinger’s raise came despite an 18% drop in his salary to $1.07 million. However, the value of his stock awards rose to $12.43 million, and compensation for his non-stock incentive plan increased to $2.89 million. On the other hand, Su’s salary was $1.2 million, and she received $21.85 million in stock awards and $5.84 million in options.
What about the CEO of Nvidia?
Shares of Intel rose 90.1% in 2023, while shares of AMD rose 127.6%. However, if Market overview points out that since Gelsinger became CEO, Intel shares have fallen 28.5%, while AMD shares have risen 92.5%.
Interestingly, Gelsinger’s 2023 compensation was significantly lower than his total 2021 compensation of $178.59 million, which included “stock awards for new hires of a significant size” of $140.43 million. This was done to ensure that Intel could hire “the best possible leader.”
Meanwhile, Nvidia CEO Jensen Huang’s total compensation for the fiscal year ending January 2023 was $21.36 million, up from $23.74 million the year before. With Nvidia’s stock skyrocketing 238.9% in 2023, it will be interesting to see its compensation for the final fiscal year. If Tom’s hardware notes: “Impressive stock gains have already helped the green team leader become the 21st richest person in the world.”