Nvidia CEO Jensen Huang crashed out of The $100 billion club His net worth took its biggest single-day hit on Tuesday this week, then took another hit on Wednesday.
Huang’s wealth fell by $9.9 billion on Tuesday, then another $1.6 billion on Wednesday to $93.4 billion, according to the Bloomberg Billionaires Index. The result is that he is no longer one of the world’s dozen or so centillionaires — a select group that includes Elon Musk, Jeff Bezos and Warren Buffett.
The drop in wealth dropped Huang from 14th to 18th place, behind Indian tycoon Gautam Adani ($102 billion) and Walmart founder Sam Walton. Three surviving children: Jim ($99.5 billion worth), Rob ($97.2 billion worth), and Alice ($96.6 billion worth).
The chipmaker’s chief sunk to an 11-figure net worth thanks to Nvidia stock a mess 9.5% on Tuesday, a drop in the group’s market value of $279 billion – the Biggest one-day decline For a US company in history.
Shares fell another 1.7% on Wednesday for a two-day loss of 11% that erased a market capitalization of $323 billion — more than the entire market value of Bank of America ($314 billion) or Coca-Cola ($313 billion).
Nvidia tanked on Tuesday amid broader declines in chip stocks, and the semiconductor titan after Bloomberg reported Received the subpoena from the Department of Justice as part of an antitrust investigation.
Huang’s company has become a leading supplier of microchips for the artificial-intelligence boom, counting Elon Musk’s Tesla and Mark Zuckerberg’s Meta. among its customers.
Even after this week’s hit, Huang still added about $49 billion to his net worth this year. Nvidia stock is up 114% since the start of this year, boosting the company’s market value to $2.61 trillion. Only Apple ($3.4 trillion) and Microsoft ($3 trillion) are worth more.
Huang co-founded Nvidia more than 30 years ago in 1993, but the company’s value has only really fallen since the end of 2022, when Release of ChatGPT The AI craze accelerated.
Nvidia’s split-adjusted stock price has risen more than 600% since then, from $15 to $106 at Wednesday’s close.
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