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Jensen Huang’s net worth ballooned by more than $4 billion after Nvidia stock closed lower on Tuesday. Daily gains for the chipmaker, which recently became the world’s second-largest company, are adding to the fortunes of its chief executive.
The chipmaker’s chief executive recently completed the sale of millions of shares of the company’s stock.
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NVIDIA stock rose more than 4% to close at $132.89, the company’s highest closing price since July 9 at $134.91.
Huang is NVIDIA’s largest shareholder with 75.4 million shares and an additional 786 million held through various trusts and partnerships, the company said in a regulatory filing last month. rose to $114.4 billion from $109.9 billion on Tuesday.
Nvidia’s stock price rose nearly 12% in October, a rise that added about $12.1 billion to Huang’s fortune.
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713 million dollars. That’s the value of the Nvidia stock Huang sold between June 14 and September 12, according to a recent Securities and Exchange Commission filing. The company previously revealed that Hwang planned to sell up to 6 million shares by March 31, 2025, a milestone he reached almost six months early.
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Mr. Huang, 61, is the 11th richest person in the world with an estimated net worth of $116.2 billion, according to Forbes magazine’s Real-Time Rich List. Hwang’s wealth has increased by about $102 billion since 2019, when he was ranked 546th on the richest list.
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With a market value of $3.2 trillion, Nvidia is the world’s second-largest company, behind Apple, which is valued at $3.4 trillion. Huang, who has served as CEO and president of NVIDIA since co-founding it in 1993, recently suggested that demand for the company’s AI products is “huge” and “insane.” . Nvidia, a company that designs custom AI technology for high-end applications, was once the world’s largest company, with its stock peaking at $140.76 in June, before falling to just over $102 in September.
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