Jensen Huang is $60 billion richer this year thanks to Nvidia’s soaring stock — and just rejoined the $100 billion club
Nvidia CEO Jensen Huang.
Jensen Huang’s net worth has jumped by about $14 billion in four days, thrusting him back into the $100 billion club and making him once again the biggest wealth gainer in the world this year.
The Nvidia CEO crashed out of the elite group of people with a 12-digit fortune last week; he was worth $90.5 billion when trading ended last Friday, per the Bloomberg Billionaires Index.
But as of this Thursday’s market close, he’s worth $104 billion — more than fellow club members Jim Walton — who joined for the first time this week and is worth $102 billion — and Gautam Adani, worth $100 billion.
Huang has now grown $60.5 billion richer this year, meaning he’s overtaken Meta CEO Mark Zuckerberg (up $58.6 billion) and outpaced Oracle chairman Larry Ellison (up $50 billion) in year-to-date wealth gain. His personal fortune has swelled by about 140% in under nine months.
The chipmaker’s boss owes his soaring net worth to a nearly 16% rise in Nvidia stock over the last four days. Due to rampant demand from artificial intelligence companies for Nvidia’s graphics processors, the stock is now up 141% this year and roughly eightfold since the start of 2023.
The breathless increase has boosted Nvidia’s market value to about $2.9 trillion, making it the world’s third-largest public company after Apple and Microsoft. The company generated only $30 billion in revenue and about $17 billion in net income last quarter, but investors are focused on the fact those figures more than doubled in 12 months, promising plenty of growth ahead.
The AI boom has fueled massive wealth gains for the largest shareholders of the companies poised to cash in on the craze and play an integral role in the technological revolution.
Similar to Huang, Zuckerberg, and Ellison, ex-Microsoft CEOs Bill Gates and Steve Ballmer have added over $17 billion to their fortunes this year, while the “Google Guys” Larry Page and Sergey Brin have gained over $12 billion each.
