Nvidia CEO Jensen Huang has skyrocketed to become the 11th richest person in the world, thanks to a $4 billion increase in his net worth in a single day on June 18. This surge in wealth comes as Nvidia has become the most valuable public company globally, riding the wave of the artificial intelligence boom. Huang’s net worth now stands at nearly $119 billion after Nvidia shares rose more than 3% on that day.
The success of Nvidia’s shares has been remarkable, more than doubling in value this year and tripling in 2023. Over the past five years, the stock has surged nearly 28 times, contributing to Huang’s significant wealth growth. From being ranked 546th richest globally in 2019, Huang has added a staggering $114 billion to his net worth during this period, representing a more than 2,250% increase.
As a co-founder of Nvidia in 1993, along with Chris Malachosky and Curtis Priem, Huang has played a pivotal role in the company’s journey. He has served as CEO and President since its inception, overseeing Nvidia’s transition into a public company in 1999 and witnessing its expansion in recent years. Last month, Nvidia achieved a significant milestone by becoming the first computer chip company to reach a $3 trillion market capitalization, surpassing even Apple Inc.
Despite recent successful business moves like a stock split to lower prices and annual updates to its AI accelerators, Nvidia’s dominance in the high-end accelerator market for AI training continues to set it apart from its competitors. Elon Musk of Tesla upholds his place in the list of world’s richest with a net worth of $214.1 billion, with Jeff Bezos and Bernard Arnault and family following closely behind.
In other news, Prime Minister Modi inaugurated a new Nalanda University campus in Bihar.
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