Nvidia’s Jensen Huang Becomes 13th Richest, Gains $93 Billion in 18 Months
Jensen Huang, the co-founder, president, and CEO of Nvidia, has ascended to become the 13th richest person in the world, boasting a fortune of $106 billion (₹8.84 lakh crore). This remarkable achievement comes on the heels of a more than 700% surge in Nvidia’s share price over the past year.
Jensen Huang, the co-founder, president, and CEO of Nvidia, has ascended to become the 13th richest person in the world, boasting a fortune of $106 billion (₹8.84 lakh crore). This remarkable achievement comes on the heels of a more than 700% surge in Nvidia’s share price over the past year.
The extraordinary growth in Nvidia’s stock is fueled by massive investments from tech giants like Microsoft, Tesla, and Meta, who are purchasing Nvidia chips in bulk for their AI projects. This surge in investor confidence has propelled Nvidia to the forefront of the AI revolution, driving its market capitalization past $3 trillion (₹250 lakh crore) and making it the world’s second-largest public company after Microsoft, surpassing even Apple.
According to the Bloomberg Billionaires Index, Huang’s rapid wealth accumulation puts him just behind Michael Dell ($107 billion or ₹8.92 lakh crore), Mukesh Ambani ($109 billion or ₹9.09 lakh crore), and Warren Buffett ($136 billion or ₹11.34 lakh crore) in the global rich list. Huang added approximately $93 billion (₹7.75 lakh crore) to his net worth in under 18 months, with Nvidia’s stock price rocketing from below $150 to over $1,200 during this period.
At the beginning of last year, Huang’s 3.5% stake in Nvidia was valued at less than $14 billion (₹1.16 lakh crore). The dramatic rise in Nvidia’s stock is attributed to the company’s pivotal role in the AI sector, with its graphics processors being integral to advancements in AI-powered technologies, including chatbots, recommendation systems, self-driving cars, and humanoid robots.
Nvidia’s journey began with a modest investment of $40,000 (₹33.36 lakh). The company’s early financial backing came from Sequoia Capital and other investors, who contributed $20 million (₹166 crore). Initially unnamed, the founders referred to their files as ‘NV,’ short for “next version,” eventually deriving the company’s name from “invidia,” the Latin word for envy, as reported by News 18.
Sources By Agencies
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