New figures have claimed Intel CEO Pat Gelsinger saw a significant increase in his earnings in 2023, but it was still only just over half of what Lisa Su, CEO of rival company AMD, made.
According to MarketWatch, Gelsinger's total compensation in 2023 was $16.86 million, a 45% increase from his 2022 earnings of $11.61 million, as revealed in Intel's 2024 proxy statement. In contrast, Su's total compensation for 2023 was $30.35 million, barely above her 2022 compensation of $30.22 million.
The increase in Gelsinger's pay came despite an 18% drop in his salary to $1.07 million. However, the value of his stock awards increased to $12.43 million, and his non-equity incentive plan compensation jumped 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 Nvidia's CEO?
Intel's stock soared 90.1% in 2023, while AMD's stock shot up 127.6%. However, as MarketWatch points out, since Gelsinger became CEO, Intel's stock has tumbled 28.5%, while AMD shares have charged up 92.5%.
Interestingly, Gelsinger's 2023 compensation was significantly lower than his 2021 total compensation of $178.59 million, which included "new-hire equity awards of a significant magnitude" of $140.43 million. This was done to ensure Intel could hire "the best leader possible."
Meanwhile, Nvidia CEO Jensen Huang's total compensation for the fiscal year that ended in January 2023 was $21.36 million, down from $23.74 million the previous year. With Nvidia's stock skyrocketing by 238.9% in 2023, it will be interesting to see his compensation for the latest fiscal year. As Tom's Hardware points out, "Impressive stock gains have already propelled the leader of the green team into becoming the world's 21st richest person."
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