Nvidia CEO Jensen Huang Quits $100 Billion Club After Net Worth Drops From $105 Billion to $94.9 Billion

Nvidia CEO Jensen Huang’s net worth took a significant hit on Tuesday, dropping him out of the exclusive $100 billion club.

Huang’s net worth fell by a staggering $9.9 billion on Tuesday, according to the Bloomberg Billionaires Index, dropping from about $105 billion to $94.9 billion. The drop has pushed him away from the world’s elite centibillionaires, a select group that includes notable figures such as Elon Musk, Jeff Bezos and Warren Buffett.

Dramatic drop in stock value causes net worth to drop

At the time of writing, the Bloomberg Billionaires Index showed Huang’s net worth had fallen to $93.4 billion. This additional drop in wealth caused him to drop from 14th to 18th on the rich list.

Huang is now behind Indian industrialist Gautam Adani (with a net worth of $102 billion) and Walmart founder Sam Walton’s three living children: Jim ($99.9 billion), Rob ($97.6 billion) and Alice ($96.9 billion).

Nvidia’s significant 9.5% share price drop Tuesday directly contributed to the chipmaker’s CEO’s net worth falling into eight figures. The sell-off resulted in a staggering $279 billion drop in Nvidia’s market value, which is remarkably close to Netflix’s total value ($290 billion).

Interestingly, it was the largest single-day decline in the history of a U.S. company. Nvidia shares fell significantly, mirroring the broader decline in chip stocks. The decline was further exacerbated by a Bloomberg report that the semiconductor giant had received subpoenas from the Justice Department as part of an ongoing antitrust investigation.

Nvidia has established itself as a leading supplier of microprocessors to the growing artificial intelligence industry, attracting customers that include high-profile tech companies such as Elon Musk’s Tesla and Mark Zuckerberg’s Meta.

Despite Tuesday’s significant drop, Huang’s net worth has risen by about $51 billion this year. That growth has been fueled by a remarkable 118 percent increase in Nvidia’s stock price since the beginning of the year, pushing the company’s market value to a whopping $2.65 trillion. In terms of market capitalization, only Apple ($3.4 trillion) and Microsoft ($3 trillion) outshine Nvidia.

Although Huang co-founded Nvidia more than three decades ago in 1993, the company’s valuation has seen rapid growth, particularly since the release of ChatGPT in late 2022 that ignited the AI craze. Nvidia’s split-adjusted share price has surged more than 600 percent during that time, from under $15 to $108 at the close of trading Tuesday.

Huang’s contribution recognized with Emmy Award

It is worth noting that Huang, a renowned figure in the field of artificial intelligence, is set to receive the prestigious Charles F. Jenkins Lifetime Achievement Award at the upcoming 76th Engineering, Science and Technology Emmy Awards, the Television Academy announced.

Huang’s groundbreaking work, particularly in accelerated computing and generative AI, has significantly changed the technological landscape, earning him well-deserved recognition for his leadership and innovation. He will be presented with the prestigious Charles F. Jenkins Lifetime Achievement Award on October 23 at the Saban Media Center Television Academy.

Other notable winners include Adobe, which will receive the Philo T. Farnsworth Corporate Achievement Award and an Engineering Emmy for its groundbreaking 3D texture painting tool, Substance Painter. Several industry innovators, including Tom Ohanian, Ken Goekjian, Joel Swan and Victor Young, will also be honored for their significant contributions to television production technology.