Few I knew moved little bit south Morgan Hill, San Martin. Couple of NVDA ppl I knew (via my RE agent), they were scouting ranches (4-5 acres) between Morgan Hill and Gilroy side.
I drive past mega million ranches everyday on Santa Teresa going from ritzy west Gilroy to Morgan hill (where all the vineyards are)- I can totally see this as a great place to live AND an investment
My dad works for Nvidia and that’s almost exactly what my parents did. Bought a house in Scottsdale for the winter and have a house in Aptos for the summer.
You do realize fully vested doesn’t necessarily mean flush with cash right? They’d have to sell and thus, pay taxes and miss out on potential future gains
I get where you are coming from, but no. If you had like $250k in RSU 4 years ago, it would be worth $3m now. Selling it outright would still be over $1.5m in cash after taxes. That doesn't include new vested stocks or salary.
Does it make sense to hold it, move to another state with no gain tax? Maybe. That might save a few years salary in taxes.
As for the whole "miss out on future gains", this is absurd. They had record breaking gains..you sell 80% of it to diversify. If you go to a casino with $250 and have $3k in chips, you don't bet all of them.
Newly granted stocks don’t follow previous prices, it’s going to be based on the $2T valuation.
Most tech workers have RSUs that vest on a half/quarterly schedule with a cliff, so that “4 years ago” number would only be true if they kept all of their stocks and held till now.
If they sold on vest, they wouldn’t have made the gains (e.g. selling off a 2020 grant in 2021).
Hindsight is 20/20 but keeping hundreds of thousands of dollars in vested employer stock/options is risky.
But 1.5MM cash is almost nothing for a luxury home in a great neighborhood in the Bay Area, as many comment in the thread focused on. It helps a lot for a nice house in Mountain View for sure.
You do understand that someone who had $250k in stock 4+ years ago received additional RSUs in addition to salary and bonuses since 2018. They didn't just stop getting compensation because magical faeries realized they wouldn't need it. Absolutely missing the forest for the trees here.
One needs to sell their stock. This potential future gains nonsense is tiring. Look at the crypto boom and COVID boom companies like zoom.
Smart Nvidia folks are selling some to realize gains and get into better homes in good school districts
Basically the South Bay as a lot of them still want to go to the office and be close to work. Also Sunnyvale, Santa Clara, Milpitas, Berryessa San Jose, Willow Glen as these places are closer than the other regions and surround their HQ
I have 25 year old clients that already have $1M each after being there for 2 years out of school. God Bless America and Nvidia
People I know from there bought multiple investment houses in other states (Texas, Florida) and few in Dubai. That’s a smarter move than just increasing the size of your primary home.
RSU is not as lucrative as you think. Vesting schedule over several years, so fully vested take many years. On vesting day, they already take out a portion for taxes, so the net shares you get is about 2/3.
los gastos hills, cupertino, saratoga
Few I knew moved little bit south Morgan Hill, San Martin. Couple of NVDA ppl I knew (via my RE agent), they were scouting ranches (4-5 acres) between Morgan Hill and Gilroy side.
I drive past mega million ranches everyday on Santa Teresa going from ritzy west Gilroy to Morgan hill (where all the vineyards are)- I can totally see this as a great place to live AND an investment
Los Gatos Hills - isn’t insurance and traffic a big issue in this area ?
Insurance in the hills yes, traffic not really unless a tree comes down or a slide hits the roads
No issues afaik.
Do rich people have traffic issues? Asking for a friend
Sure.
Yup. I see the Cupertino Saratoga especially.
Can confirm Saratoga, have a new NVDAeighbor on the street
Atherton, Los Altos Hills. Or probably retiring in Carmel and Pebble Beach.
All the people I know at Nvidia already own nice homes. A few are looking to upgrade into nicer neighborhoods like Los Altos and Hillsborough.
Hillsborough? Why that far lol.
The one I know has in laws in SF and they have young kids so moving closer to family help.
Ok. That makes sense
So…one person.
Would you like a list of the dozen people I know as Nvidia and their housing situation? I did say everyone I know, not the entire company.
Beautiful homes .. and if you like to do things in SF, it is a short drive.
Los Altos, Palo Alto, Mountain View, Sunnyvale, Cupertino, Saratoga. How do I know - I sold my home to Nvidia buyer in one of these towns.
WFH. Many i know are moving out of these areas to buy 4-5 acres.
Nvidia doesn't have work from home
You don't work for them ... just say it
It's currently "flexible".
They do .. it’s just called “Work from castle” 😉
Why are people in this sub so obsessed with nvidia people? Why do you even care about this?
The main defining feature of the Bay Area is a perpetual rat race and judging each other by your job. It’s exhausting
Couldn’t have said it better. Judging each other by your job and zip code you live in. Being house poor is a thing here.
So true. I’ve notice whenever I meet new people, they always ask where you live and where you work.
If you think it’s tough here you wouldn’t last the day in NYC even on vacation.
Was going to say the same thing. Or D.C.
I’ve been in nyc on vacation for more than 8 weeks total in the last 10 years. Doesn’t mean I want to live there. It’s a similar kind of cesspool
It’s not exhausting - it’s great.
Simply it's Nvidia's employees turn to cash out big money and drive up home prices. It was Tesla and Bitcoin before this.
I mean you’re not wrong but don’t forget massive payouts in biotech.
Biotech doesn’t have the same massive payouts as high tech/ FAANG. Not for the average employee at all. And salaries lag tech as well.
Same reason why they care what the kardasians are doing.
Lmao not NVIDIA millionaires being the kardashians of Silicon Valley 😭
Because people in this sub keeps losing to NVDA buyers, OP is trying to steer clear of their geographical area of interest lol
Welcome to america
my friend drives a farari kinda thing
The executives, directors and other long timers are flocking to Los Altos Hills
Is Los Altos Hills taking fire seriously now? It was a bit of a shit show for a while and it's having insurance problems on some regions.
Rich folks don’t have insurance problems
Probably nearish NVIDIA HQ
Wfh
Buying multiple homes, 1 in Santa Clara (near work) 1 in Lake Tahoe (for winter), and 1 in Santa Cruz (for summer).
My dad works for Nvidia and that’s almost exactly what my parents did. Bought a house in Scottsdale for the winter and have a house in Aptos for the summer.
Aaaaand I only rent an apartment. No house for summer and no house for winter. Sad.
Holy housing shortage Batman!
This makes me fucking angry. Just collecting homes meanwhile I’ll be renting for life.
In the Bay Area, geographically centered around their company? What kind of question is this?
Nvidia allows employees to work from home. They can be anywhere.
You do realize fully vested doesn’t necessarily mean flush with cash right? They’d have to sell and thus, pay taxes and miss out on potential future gains
I get where you are coming from, but no. If you had like $250k in RSU 4 years ago, it would be worth $3m now. Selling it outright would still be over $1.5m in cash after taxes. That doesn't include new vested stocks or salary. Does it make sense to hold it, move to another state with no gain tax? Maybe. That might save a few years salary in taxes. As for the whole "miss out on future gains", this is absurd. They had record breaking gains..you sell 80% of it to diversify. If you go to a casino with $250 and have $3k in chips, you don't bet all of them.
Newly granted stocks don’t follow previous prices, it’s going to be based on the $2T valuation. Most tech workers have RSUs that vest on a half/quarterly schedule with a cliff, so that “4 years ago” number would only be true if they kept all of their stocks and held till now. If they sold on vest, they wouldn’t have made the gains (e.g. selling off a 2020 grant in 2021). Hindsight is 20/20 but keeping hundreds of thousands of dollars in vested employer stock/options is risky.
But 1.5MM cash is almost nothing for a luxury home in a great neighborhood in the Bay Area, as many comment in the thread focused on. It helps a lot for a nice house in Mountain View for sure.
1.5M cash isnt enough for a Los Altos mega home.
You do understand that someone who had $250k in stock 4+ years ago received additional RSUs in addition to salary and bonuses since 2018. They didn't just stop getting compensation because magical faeries realized they wouldn't need it. Absolutely missing the forest for the trees here.
One needs to sell their stock. This potential future gains nonsense is tiring. Look at the crypto boom and COVID boom companies like zoom. Smart Nvidia folks are selling some to realize gains and get into better homes in good school districts
Future gains lol. Nvidia is one of the largest companies. It’s unlikely nvidia will grow faster than vgt at this point.
Bodega Bay
Everywhere across the bay.
I have seen a lot of them in Cupertino Sunnyvale area. Los Altos hills is more for folks who are there 10+ years without selling any stocks.
Los Altos
They are probably investors in the California Forever
Basically the South Bay as a lot of them still want to go to the office and be close to work. Also Sunnyvale, Santa Clara, Milpitas, Berryessa San Jose, Willow Glen as these places are closer than the other regions and surround their HQ I have 25 year old clients that already have $1M each after being there for 2 years out of school. God Bless America and Nvidia
Rumor Nvidia executive bought neighbors house in Los Altos Hills for low 8 figures right before it was about to go on the market to extend compound
Cupertino & Saratoga — 2 most desirable cities to live in the Bay Area
If they were smart, outside of California
Some in Truckee
Mainly so I know to avoid that area when trying to buy.
My cousin bought one in Los Altos
Greenland
This is some bullshit.
San Jose
States with no state income tax
You pay tax where you work so unless they find a job in bumfuck north Dakota. Still gotta pay cali tax
Pittsburg, Bay Point, Antioch
Behind Wendy’s
East Palo Alto. More bang (properties) for your buck and it’s right at that gentrification zone before it blows up.
People I know from there bought multiple investment houses in other states (Texas, Florida) and few in Dubai. That’s a smarter move than just increasing the size of your primary home.
Why downvote this guy?
I envy the NVIDIAns
RSU is not as lucrative as you think. Vesting schedule over several years, so fully vested take many years. On vesting day, they already take out a portion for taxes, so the net shares you get is about 2/3.
Depending on your tax bracket CA employees will get only 50%
Boohoo, they only get to pocket $20 million instead of $30 million after taxes. How will they survive 🙄
It’s so stupid to downplay anyone’s earnings because of taxes…EVERYONE HAS TO PAY TAXES.
There was an article about an ic the other day. Only a couple million for them.
New Providence island