"a mid-level Nvidia employee who “maxed out the employee stock purchase plan (ESPP) for 18 years,” and kept a firm hold of this ‘green gold.’ The employee wasn’t a big shot engineer, it is made clear. They simply took full advantage of the Nvidia ESPP, which allows employees to use between 10-15% of their salary to buy company stock at a 15% discount to the market. This lucky (wise?) employee is said to have left Nvidia with a stack of shares worth $62 million." https://www.tomshardware.com/pc-components/gpus/nvidia-employees-make-fortunes-and-foul-ups-with-their-stock-options-a-story-of-millionaire-winners-and-losers
Amazing 👏 he believed in the company for that long
What rabid devotion to a belief that it would eventually pay off. More than not could have easily gone the other way and he lost everything. For others considering this strategy, don't.
Holding for that long. This guy deserves it. Nothing but respect for this human being.
18 years. Meh Congrats, not for me
Die poor then
The plan is to get as wealthy far faster
He took a risk. I got a nice wad of Unity options before the IPO that were worth up of 1mil. 3 years later they are worth 220k. Sticking to your shares is not always a winning strategy.
Same as someone who bought lottery for 18 years before hitting it rich with a winning combination. Good for him tho
Evaluating a decision based on the outcome is a flawed mechanism (Annie Duke labels it resulting). There is not enough information about the employees finances to evaluate how good/bad their decision making was. Selling and diversifying rsu/espp is a sound decision when evaluating risk adjusted returns. Today’s high performers aren’t guaranteed to be stars of tomorrow. In the last 15 years or so people who held on to GE/GM stocks lost it all. If you are bullish on your employers prospects, find a way to manage the risk. People convert 600$ 0 day to expiry contracts into a million dollars too, not a strategy to bet 100% of everything on.
Blinders are so outcome biased. It’s a bad strategy on average to concentrate portfolio risk in a single stock. It’s gambling and he got lucky.
No way normal employee will have 69k share over 18 years zero chance unless he is from the Exec C-Suit.
Working somewhere for 18 years and keeping all your vested shares is certainly one way to do it
I checked, Nvidia stock was between $2 and $7 from 2006 till 2015. Assuming an average of $4 during this time period (now the stock is at $860), he was basically buying and holding around $16K of stock on average per year at those prices, not that unreasonable.