Nvidia CEO Jensen Huang’s Net Wealth Soars by $9.6 Billion as Company’s Shares Surge
In a stunning turn of events, Nvidia CEO Jensen Huang experienced a massive increase in his net wealth, soaring by a staggering $9.6 billion. This surge came as a result of Nvidia’s share price skyrocketing, propelling the wealth of the world’s richest billionaires. Bloomberg’s Billionaire Index reported that Huang’s overall wealth now stands at an impressive $69.2 billion.
The remarkable boost in Nvidia’s share price came after the company exceeded expectations and posted exceptional fourth-quarter results. The California chip maker, founded by Huang in 1993, witnessed its shares surge by over 16%. This surge was fueled by Nvidia’s impressive sales growth, with a remarkable 265% jump to $22 billion in the three months ending on January 28th.
Huang attributes this extraordinary success to the artificial intelligence industry reaching a “tipping point,” where the use of AI technology has become mainstream. The surge in Nvidia’s share price resulted in a staggering $277 billion increase in the company’s market capitalization. This historic surge now holds the record for the biggest single-day increase in market history, surpassing Meta’s $197 billion surge earlier this month.
As a result of this unprecedented rise, Huang now holds the position of the world’s 21st richest individual. In just one day, he climbed two places on the list of the world’s wealthiest people. However, he closely trails behind Julia Koch, an American socialite who inherited billions from her late husband David Koch in 2019.
Despite his immense success, Huang remains deeply connected to Nvidia, still owning a 3.51% stake in the company he co-founded over 30 years ago. The journey began with a fateful meeting at a Denny’s roadside diner in East San Jose with his co-founders, Chris Malachowsky and Curtis Priem.
Huang’s wealth has experienced an extraordinary surge in 2024, increasing by $25.2 billion so far. This surge aligns with Nvidia’s share price rallying by an impressive 63% year-to-date. The excitement surrounding AI has driven a significant boom in stock markets this year, propelling Huang’s rapid ascent up the ranks of the world’s richest individuals. From starting the year at 128th place, he now proudly holds the 21st spot.
The surge in Nvidia’s share price not only benefited Huang but also had a profound impact on other top billionaires worldwide. Taiwanese billionaire Charles Liang, the founder of Supermicro in 1993, saw his net worth increase by a third to $7.6 billion due to his 12% stake in Nvidia.
At the top of the billionaire rankings, Elon Musk, the world’s richest individual, experienced a decline in his net worth. So far in 2024, Musk’s wealth has fallen by $17.5 billion, bringing his total net worth to $212 billion. In contrast, his rivals Jeff Bezos and Bernard Arnault have witnessed their wealth piles grow by billions during the same period.
The surge in Nvidia’s share price serves as a testament to the company’s remarkable achievements and its pivotal role in the AI industry. As Huang’s net wealth continues to soar, it remains to be seen how this extraordinary success story will unfold in the coming months.
