Nvidia Corps.’s chief executive Jensen Huang has become the 11th richest person in the world, as per Forbes‘s real-time billionaire list.
Mr Huang added over $4 billion to his net worth in a single day on Tuesday, June 18. It happened after Nvidia became the world’s most valuable public company, riding on an artificial intelligence-driven surge.
The company’s shares climbed over 3% on Tuesday, June 18, taking Mr Huang’s net worth to nearly $119 billion.
Nvidia shares have more than doubled this year after growing threefold in 2023. The shares have been up by nearly 28 times in the past five years.
Jensen Huang, who was ranked the 546th-richest person in the world in 2019, has added over $114 billion to his net worth in the last 5 years, as per Forbes. His net worth surged over 2250% during the period.
The Nvidia boss was ranked the 76th richest person in the world with a net worth of $21 billion at the end of 2023.
The 61-year-old tech executive derives his net worth from a 3.5% stake in Santa Clara, California-based Nvidia. Mr Huang co-founded the computer chip company back in 1993 with Chris Malachosky and Curtis Priem. He has occupied the chair of Nvidia’s chief executive and president since its inception.
The tech giant went public in 1999 and has surged in trading in recent years.
Last month, Nvidia became the first computer chip company to hit $3 trillion in market capitalisation, surpassing Apple Inc. Nvidia recently executed a stock split that cut Nvidia’s share price below $130 after trading above $1,200.
Nvidia controls an ecosystem of hardware and software solutions that rivals are trying to replicate, thanks to its dominant market share for the high-end accelerator that trains AIs. The company has laid out an ambitious plan to upgrade its AI accelerators annually.
Tesla’s Elon Musk retained his position of the world’s richest with a net worth of $214.1 billion followed by Jeff Bezos at number two and Bernard Arnault & family at the third spot.
