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☆ What 5 self-made millionaires refuse to spend money on: It's 'fun being able to buy something and choosing not to'
▼ + stars: | 2024-05-26 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Make It has spoken with plenty of millionaires over the years and often asks them, "What do you refuse to spend money on?" "It's actually really fun being able to buy something and then choosing not to," he previously told CNBC Make It. Here's what he and four other self-made millionaires say they never spend money on. Fast fashionJonathan Sanchez, a self-made millionaire and founder of Parent Portfolio, maintains a low clothing budget by keeping things straightforward. That's Crush Your Money Goals founder Bernadette Joy's thinking when it comes to workout clothes.

Persons: Todd Baldwin, frugality, It's, Jonathan Sanchez, I'm, Steve Adcock, Adcock, Jim Cramer, wouldn't, Cramer, Bernadette Joy's Organizations: CNBC, Parent

☆ A tax on millionaires might soon pay for universal free community college in Massachusetts
▼ + stars: | 2024-05-25 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

The Massachusetts Senate approved a $58 billion budget that includes free community college. The state's new tax on millionaires would fund the universal free community college program. AdvertisementThe Massachusetts State Senate approved a nearly $58 billion state budget that guarantees universal free community college for state residents. In 2022, Massachusetts placed a 4% tax on residents earning $1 million or more a year. In its last fiscal budget, the state set aside $1 billion — collected through the tax — to provide free school lunches to all children in public schools.

Persons: — Organizations: Senate, Service, Business Locations: Massachusetts

☆ 2 Yale researchers are pulling back the curtain on Russia's sanctions-stricken economy — and it's landed them on a list of Putin's enemies
▼ + stars: | 2024-05-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewJeffrey Sonnenfeld and Steven Tian, two researchers at the Yale School of Management, have been targeted for their views on Russia's economy since the war in Ukraine began. Soaring prices and ailing consumer sentiment have hit key sectors in Russia's economy, and Moscow is paying a huge cost to keep its war machine running. Steven Tian Courtesy of Steven TianAt that time, Tian and Sonnenfeld began noticing cracks forming in Russia's economy. "Putin has no grand strategy other than to hope Trump wins and cuts a favorable deal with Russia," Tian said. Positive forecasts on Russia's economy are based on a lack of visibility, Sonnenfeld and Tian say.

Persons: —, Jeffrey Sonnenfeld, Steven Tian, they've, Vladimir Putin's, Tian, Putin, he'd, Sonnenfeld, I've, Biden, Steven Organizations: Service, Yale School of Management, Business, Yale, IMF, Trump Locations: Ukraine, Moscow, Russia

☆ 6 countries where millionaires are moving and how these nations help protect and grow their investments
▼ + stars: | 2024-05-25 | by ( Cork Gaines | ) www.businessinsider.com time to read: +1 min

An estimated record 122,000 millionaires moved to new countries in 2023, up 45% from 2022.record 122,000 millionaires moved to new countries in 2023, up 45% from 2022. Henley & Partners data shows Australia topped the net inflow of millionaires, outpacing the US. China faced the highest net loss of millionaires, followed by India and the UK. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That's according to data from Henley & Partners, a firm that advises the wealthy where to move to protect and grow their wealth. The firm says a record number of millionaires moved to a new country in 2023.

Persons: — Organizations: Henley & Partners, Service, United, United Arab Emirates, Business Locations: Australia, China, India, United Arab

☆ Palm Beach housekeepers are raking in $150,000 salaries as the rich flock to Florida, report says
▼ + stars: | 2024-05-25 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Some housekeepers in parts of Florida are earning $150,000 salaries, CNBC reported. Real-estate prices in the Sunshine State have surged as millionaires flock to the area. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementExperienced housekeepers in parts of Florida are enjoying huge salaries of between $120,000 to $150,000, CNBC reported. Demand for such positions has surged in areas like Palm Beach as the rich continue to flock to Florida from high-tax states such as New York.

Persons: — Organizations: CNBC, Sunshine State, Service, housekeepers, Business Locations: Florida, nannies, New York

☆ Record number of 401(k) savers have balances over $1 million
▼ + stars: | 2024-05-24 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

New York CNN —They are still a very small minority in the 401(k) universe, but there were a record number of 401(k) participants with balances over $1 million at the end of the first quarter this year, Fidelity Investments said Thursday. Fidelity is one of the largest providers of workplace retirement plans, and its 401(k) data is based on more than 23 million plan participants. The average balance for the so-called 401(k) “millionaires” came to $1,580,000, up from $1,551,300 in the fourth quarter, a Fidelity spokesperson said. Other 401(k) participants also saw increases in their balances in the first quarter. The average savings rate hit a record 14.2%, including employer matches, and is very close to the recommended 15% savings rate from Fidelity and retirement savings experts.

Persons: ”, ” Fidelity, “, Gen Xers Organizations: New, New York CNN, Fidelity Investments, Fidelity, Bloomberg, ”, Boomers, Pensions, Federal Locations: New York, United States

☆ TJX jumps 4% to a new high after earnings — here's what investors love about the report
▼ + stars: | 2024-05-22 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. Executives also said they see further ability to grow because TJX is becoming an increasingly important channel for its vendors. In the quarter, TJX returned a total of $886 million to shareholders in the quarter, with $609 million coming via buybacks and another $377 in dividend payments. Full year sales guidance was revised lower by about $150 million at the midpoint due to foreign exchange dynamics. Comparable same store sales guidance was left unchanged.

Persons: Wednesday's, Ernie Herrman, TJX, Herrman, we're, HomeGoods, John Klinger, Klinger, Jim Cramer's, Jim Cramer, Jim, TJMaxx, Jeff Greenberg Organizations: TJX Companies, LSEG, TJX, Marshalls, Ross Stores, Burlington Stores, Consumers, Companies, TJX Canada, Management, CNBC, Universal, Getty Locations: Maxx, HomeGoods, U.S, buybacks, Canada, Florida, Port

☆ 60% of Americans say reaching this milestone makes them financially successful—it's not becoming a millionaire
▼ + stars: | 2024-05-21 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Most Americans don't think they need to be millionaires in order to achieve financial success. Fewer than 20% of Americans define being "financially successful" as "being a millionaire," according to Bankrate's 2024 Financial Success survey. Nearly 60% of Americans say they would feel financially successful if they were able to "live comfortably," according to the survey. "Salary is often not the best barometer for financial success," Foster says. Increased prices for everyday necessities such as food and housing may also shape the way Americans picture financial success.

Persons: Gen, Sarah Foster, Bankrate's, wouldn't, Foster Organizations: Millionaires, CNBC Locations: U.S

☆ It's shaping up to be a tough summer for the stock market, but Nvidia could help salvage things
▼ + stars: | 2024-05-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we examine how this summer is shaping up to be tough for the stock market . Stocks are on track to either remain flat or turn negative going forward , according to two market vets Jennifer spoke to. The pessimism about stocks' future is due to a few factors. Some Nvidia employees are considered to be millionaires SOPA ImagesThere is, however, one company that could salvage things: Nvidia. As the key chipmaker in the space, a win for Nvidia is a win for everyone betting on AI being the future.

Persons: —, Jenny Chang, Rodriguez, Jennifer Sor, Stocks, Jennifer, It's, Jerome Powell, BI's Linette Lopez, Warren Buffett Scott Morgan, Warren, Berkshire Hathaway, Goldman Sachs, Michael Burry, John Paulson, Alyssa Powell, Gen Zers, Instagram, Vincent Sandoval, Getty, Henrik Sorensen, Tyler Le, Larry Ellison, it's, aren't, Cash, Bill Lee, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, New York Knicks, NBA, Business, Getty, Fidelity, Hamptons, Nvidia, Reuters, Berkshire, JPMorgan, Meta, Sciences, Apple, The Locations: Montauk, Berkshire, New York, London

☆ Welcome to the club: You're middle class but still counting your pennies
▼ + stars: | 2024-05-18 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

The middle class is more of a club than an income bracketThe ranks of middle-income earners have been shrinking, according to the Pew Research Center. A solid chunk of millionaires consider themselves middle class, despite accounting for just over 12% of American families. And there's good reasons," Lawrence R. Samuel, the author of the book "The American Middle Class: A Cultural History," told Business Insider. "Being middle class is almost like classless. Clinging to at least the mirage of the middle class might be important to upholding more core American ideals.

Persons: —, they're, Claire Tassin, Tassin, they'd, ALICE, Amanda, She's, there's, Rakesh Kochhar, That's, Kochhar, Lawrence R, Samuel, we're Organizations: Service, Business, Pew Research, Pew Research Center Locations: America, Texas

☆ China’s Shenzhen metropolis sees fastest growth in millionaires globally
▼ + stars: | 2024-05-16 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

China's Shenzhen has recorded the fastest growth in millionaires over the past decade, and is poised to see a further influx in the coming years, according to a recent report. Shenzhen recorded 140% growth in millionaire count, according to the report from New World Wealth and investment migration advisors Henley & Partners. In 2023 alone, Shenzhen saw a 10% growth in millionaires, while Beijing and Shanghai recorded a decline of around 5% amid an exodus of high-net-worth individuals from China. Shenzhen, also known as China's Silicon Valley, is expected to continue growing "very strongly" all through to 2040, compared with Beijing and Shanghai, which are likely to see moderate growth, Amoils added. China's Hangzhou city was second in terms of millionaire growth at 125%, while India's Bengaluru and Austin city in the U.S. placed third and fourth, respectively; China's Guangzhou ranked fifth, Amoils told CNBC.

Persons: Andrew Amoils, Amoils Organizations: Wealth, Henley & Partners, CNBC, China's Guangzhou Locations: Shenzhen, China, Beijing, Shanghai, Hong Kong, China's Hangzhou, Bengaluru, Austin, U.S

☆ Apple co-founder shares the best strategy his parents used while raising him: I'm 'the same way with my own kids'
▼ + stars: | 2024-05-15 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Apple co-founder Steve Wozniak, 73, says his parents took the latter approach — and he's happier and more successful because of it. He used the same strategy when raising his own children, he added. "My parents let me follow my heart," he told graduating students at the University of Colorado Boulder last week. "When you really want something, love something and it's your passion, you should have your parents supporting you going in your direction. Now, Wozniak provides his kids the same kind of support his parents gave him, he said.

Persons: Steve Wozniak, Wozniak, Berkeley —, Steve Jobs, Jobs, Margot Machol Bisnow, Bisnow Organizations: University of Colorado Boulder, De, De Anza College, University of California, Berkeley, Apple, CNBC Locations: California, De Anza, Berkeley

☆ Meet the average resident of Paradise Valley, the 'Beverly Hills of Arizona': a 54-year-old homeowner making over $220,000
▼ + stars: | 2024-05-14 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

Paradise Valley, Arizona, is attracting wealthy residents from across the US, especially California. The average resident of Paradise Valley is older and wealthier than the rest of the state. Nearly everyone in Paradise Valley owns their home, with a median sale price of $3.3 million. Dubbed the "Beverly Hills of Arizona," Paradise Valley is located in the desert hills northwest of Phoenix and just east of Scottsdale, another city attracting millionaires. Though it's a relatively small community, Paradise Valley is known for its several high-end resorts, spacious and secluded lots, and natural beauty.

Persons: —, Joan Levinson Organizations: Service, Business Locations: Paradise Valley , Arizona, California, Paradise, Paradise Valley, Valley , Arizona, Beverly Hills of Arizona, Phoenix, Scottsdale, Arizona

☆ What to know before you buy a house overseas — and 3 steps to smooth the process
▼ + stars: | 2024-05-10 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

But it's not a decision one should make on whim; multiple factors can easily complicate the process, experts say. But in most cases, the U.S. buyer will need to open a bank account in the country they're buying real estate. 'Understand what your needs are'It will be important for you to "understand what your needs are," Boisson Aries said. "Buying these direct properties for that purpose is something that comes with far more risks than people realize," he said. And if you do decide to use the property for rental or commercial use, you may have additional tax burdens in that country, Boudreaux said.

Persons: Jude Boudreaux, it's, Boudreaux, Bojan Mujcin, Mujcin, Erin Boisson Aries, Douglas Elliman, Boisson Aries Organizations: Planning, Coldwell, CNBC, Sotheby's Locations: New Orleans, U.S, Barcelona, Costa Brava, Spain

☆ 3 US cities drawing more millionaires with lower taxes, cheaper homes, and shorter commutes
▼ + stars: | 2024-05-09 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

Consulting firm Henley & Partners identified 3 US cities with huge potential for wealth growth. AdvertisementNew York, Los Angeles, and Chicago may no longer hold the same sway for millionaires and billionaires anymore, according to consulting firm Henley & Partners. The numbers of wealthy residents in these cities might be smaller than in the major hubs, but their rate of growth is much higher. New York, for example, has 349,500 millionaires, according to Henley & Partners, while Scottsdale only has 14,500. AdvertisementHere's a look at the three American locations Henley & Partners projected will boom with wealthy residents in the coming years.

Persons: Henley, —, Mehdi Kadiri Organizations: Henley & Partners, Greenwich, Service, — Henley, Partners, New Locations: Scottsdale, Palm Beach, New York, California, York, Los Angeles, Chicago, Austin, Miami, Los Angeles , New York, London, Scottsdale , Arizona, Phoenix, Beach , Florida, Connecticut, Greenwich, Darien

☆ If it feels like NYC is richer, you're right. One in every 24 residents is a millionaire.
▼ + stars: | 2024-05-08 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

New York City is now home to 349,500 millionaires. Meanwhile, rising living costs are forcing lower-earning residents out of the city. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNew York City is the metro with the highest number of millionaires, according to a ranking released Tuesday by immigration consultancy Henley & Partners. Some wealthy residents moved out, but lots more moved in during the pandemic, bringing the Big Apple's millionaire count to 349,500 — more than any other city in the world,With a population of 8.2 million, this means that one in 24 New York residents is a millionaire.

Persons: — Organizations: Henley & Partners, Service, Big, Business Locations: York City, New York

☆ New York tops the list of the 50 richest cities in the world
▼ + stars: | 2024-05-07 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

New York's millionaire population is now larger than the entire populations of Orlando or Pittsburgh. The Bay Area's millionaire population has surged by 82% over the past decade, to 305,700. The U.S. is home to 11 of top 50 richest cities, according to the report. "Notably, U.S. cities have significantly outperformed other western cities over the past decade when its comes to overall wealth and millionaire growth." Here is the full ranking of the world's richest cities, according to Henley & Partners and New World Wealth:1.

Persons: Andrew Amoils, Amoils, Juerg Steffen, Robert Frank Organizations: Henley & Partners, Area, Federal Reserve, Research, New, London, Sydney Locations: York, California, Orlando, Pittsburgh . New York, Brazil, Italy, Canada, San Francisco, U.S, Tokyo, London, China, Beijing, Singapore, Los Angeles, New York, Area, France, Hong Kong

☆ Insider Today: My home-renovation nightmare
▼ + stars: | 2024-05-04 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +5 min

This post originally appeared in the Insider Today newsletter. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On the agenda:But first: Get in, we're going to the Met Gala. An aerial shot shows Jared Leto on the red carpet at the 2023 Met Gala.

Persons: —, Jared Leto, Neilson Barnard, MG23, Anna Wintour, Bunny, Jennifer Lopez, Chris Hemsworth, Shou Zi Chew, I'm, Yulia Reznikov, everyone's, Morimoto, Chris Burnett, hasn't, they're, Tyler Le, Anne Hathaway's sizzling, Jerry Seinfeld Organizations: Business, Service, Disney, Victoria & Alberts, Metropolitan Museum, Art's Costume, Vogue, Costume Institute, Social, BI, HGTV, Netflix Locations: Epcot, Victoria, Scottsdale , Arizona, Scottsdale Scottsdale , Arizona, Scottsdale, Michigan

☆ 5 financially independent individuals and couples share the book that changed their investment strategy
▼ + stars: | 2024-05-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

When you invest in an index fund, you're essentially buying a basket of stocks that represents a broad market or theme. "That book makes a really good case for index funds." They own the Vanguard 500 Index Fund Admiral Shares Fund (VFIAX), the Vanguard Information Technology Index Fund ETF (ETF, VGT), and the Fidelity MSCI Information Technology Index ETF (ETF, FTEC). Note that ETFs, like index funds, offer an easy way to diversify and bundle several securities into one investment. Since index funds are passively managed, they typically have lower costs than actively managed funds — and, historically, they outperform active funds.

Persons: Carl, Mindy Jensen, JL Collins, Mindy, it's, They're, Collins, Jamila, Ali, Josh Lupo, Josh, Jack Bogle, Warren Buffett Organizations: Business, Independence, Apple, Microsoft, IRA, FIRE, Fund, Vanguard Information Technology Index Fund ETF, Fidelity Locations: American

☆ What this NFL Draft pick plans to do with his new money—from mutual funds and a Roth IRA to Air Jordan 1 sneakers
▼ + stars: | 2024-04-27 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Fiske, 24, was drafted by the Los Angeles Rams in the second round of the 2024 NFL Draft on Friday evening. "I had never been around that much money," Fiske told MarketWatch last month. Together, they've discussed "how my financial life is going to change" upon signing an NFL contract, Fiske noted. "I'm putting money into mutual funds, index funds, high-yield savings accounts and maybe exploring new investment opportunities, too," he said, adding: "I also have a Roth IRA ... But that doesn't mean he won't splurge on a fun purchase: He's an avowed fan of Nike's Air Jordan 1 sneakers, for example.

Persons: Braden Fiske, —, Fiske, you've, they've, Roth, he's Organizations: Los Angeles Rams, Florida State University, FSU, NFL, Roth IRA, Air, Honda Accord, CNBC

I reached out to investing educator Amanda Holden, who told me it's smart to start with a brokerage account. Instead of investing in individual stocks, she suggests ETFs and index funds. In order to explain some of the basics in a simple way, I reached out to investing educator Amanda Holden for her thoughts. She had four tips for getting started on your investing journey. Of course, you'll want to consult with a financial advisor for a full investing strategy; her tips are educational, but they aren't investing advice.

Persons: Amanda Holden, it's, Holden, Charles Schwab, Schwab, Get, You'll, aren't, we'll, doesn't Organizations: Fidelity, Vanguard, — Vanguard

☆ Step inside Scottsdale, Arizona, where migrating millionaires have created one of the hottest housing markets in the country
▼ + stars: | 2024-04-26 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

Scottsdale has seen a 102% increase in millionaire residents over the past decade. The appeal of Scottsdale lies in its booming business scene and stunning desert landscapes. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. According to the USA Wealth Report by Henley & Partners, that's a 102% increase in millionaire residents over the past decade. From a booming business scene to breathtaking desert landscapes, here's what I found.

Persons: —, that's Organizations: Service, AZ Central, USA, Henley & Partners Locations: Scottsdale , Arizona, Scottsdale

☆ Miami is 'ground zero' for climate risk. People are moving to the area and building there anyway
▼ + stars: | 2024-04-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +20 min

South Pointe Beach in Miami Beach, Florida. Climate risk is "always on our thoughts," said Habibian, 39, who moved to Miami-Dade County about six years ago. Despite that risk, 66% of Miami-Dade County residents said they'd never leave, according to a study published in the journal Climate Risk Management. "We try to be smart about it, try to be proactive as best we can," Arditi said of climate risk. Juxtaposed at left was one of the last remaining patches of mangroves in the urban Miami area, a living memorial to a once-thriving population.

Persons: Greg Iacurci, Daniel Habibian, Harold Wanless, Sonia Brubaker, Saul Martinez, Andrew Rumbach, Rumbach, Joe Raedle, Irma, Al Diaz, they'd, Steven Bustamante, Bustamante, Jeff Greenberg, There's, David Arditi, Arditi, Aria's, Jeff Bezos, Goldman Sachs, Douglas Sacks, Ken Griffin, Brubaker, Biscayne Bay . Miami Worldcenter, Chandan Khanna, Dion Williams, Williams, Dion, Todd Crowl, Crowl, We're, Erik Salna, Chris Baraloto, Rita Teutonico, Amy Knowles, Knowles, it's, City of Miami Beach Greg Iacurci Miami Organizations: Greg Iacurci MIAMI, University of Miami, City, CNBC, Cumming Group, Florida Department of Transportation, Bentley, Bloomberg, Getty, Urban Institute, Organisation for Economic Co, Miami, Volunteers, Florida Keys, Miami Herald, Tribune, Service, Dade, Risk, Yale University's School of, Finance, SEC, Miami Beach, Universal, Group, Aria Development, National Association of Realtors ., Miami Realtors, Amazon, Citadel, Resorts, Bloomberg News, Dade County's, Getty Images, Residences, Pointe Park, Fifth, Afp, Federal Emergency Management Agency, Management, Sunshine, Insurance, Institute, Florida International University Institute of Environment, Hurricanes, University of Pennsylvania, International Hurricane Research, of, Florida International University, City of Miami Beach Locations: Pointe Beach, Miami Beach , Florida, Miami, South Beach, Dade, City of Miami, Dade County, New York, Fort Lauderdale, West Palm, South Florida, Florida, Tampa, St . Petersburg, Miami , Florida, Southeast Florida, Miami Beach, City, Aria's Miami, U.S, California , New York, New Jersey, America, Caribbean, New York City, Biscayne Bay . Miami, Pointe, It's, Surfside, . Florida, Biscayne Bay, Miami's, Bermuda, Kampong, Coconut Grove, Brittany Bay, South Pointe, City of, Brittany Bay Park

☆ Meet the private doctor to the wealthy — at $40,000 a year
▼ + stars: | 2024-04-22 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

When people ask Dr. Jordan Shlain to describe his medical practice, he says simply: "It's a family office for your health." Rather than simply offering on-call doctors and faster visits, Private Medical has pioneered a highly personalized, all-in-one service that's more akin to the most sophisticated family offices for investments. Like family offices, Private Medical has an in-house team to manage a family's entire health portfolio – from fitness and dietary tracking to longevity research, surgeries and medical emergencies. Private Medical doesn't advertise and gets most of its business through referrals. Shlain declined to give specifics on price, but clients of Private Medical say it charges $40,000 a year for each adult patient and $25,000 per patient under the age of 18.

Persons: Robert Frank, Jordan Shlain, Shlain Organizations: Private, Private Medical, California —, Research Locations: California, California — San Francisco, Silicon Valley, Santa Monica, Beverly Hills —, York, Miami

☆ Don't think all Nvidians are now rich, says one engineer
▼ + stars: | 2024-04-21 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Read previewAn Nvidia engineer who makes $250,000 a year said the amount employees make at the chip giant was "not as rosy" as some might think. He told Business Insider that while some Nvidians may be lucky enough to be millionaires, "a million doesn't go too far." The software engineer didn't want to be identified as he's not authorized to speak to the media. AdvertisementThat means that a Nvidia employee earning $1 million a year may not be considered rich in a place like San Francisco. "I'm really happy with the price Nvidia stock is trading at."

Persons: —, didn't, he's, There's, Charles Schwab, I'm, I've, it's, Jensen Huang, HWA CHENG Organizations: Service, Business, Nvidia, Microsoft, Apple, Social Security, Charles Schwab Modern Wealth Survey, HWA, Getty, Bloomberg Locations: Coast, California, San Francisco, India, AFP

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