Nvidia CEO Jensen Huang has experienced a dramatic $14 billion increase in his net worth over just four days, propelling him back into the exclusive $100 billion club. This surge comes after a remarkable $60.5 billion rise in his wealth this year alone.
Huang’s wealth resurgence places him once again at the forefront of global wealth gainers for 2024. Last week, he fell out of the elite $100 billion bracket, with a net worth of $90.5 billion as of the previous Friday, according to the Bloomberg Billionaires Index. However, by Thursday’s market close, Huang’s fortune had climbed to $104 billion, surpassing fellow billionaires like Jim Walton, who recently entered the club at $102 billion, and Gautam Adani, also valued at $100 billion.
This year, Huang’s net worth has surged by $60.5 billion, surpassing Meta CEO Mark Zuckerberg’s $58.6 billion increase and Oracle Chairman Larry Ellison’s $50 billion gain. Huang’s wealth has more than doubled in under nine months, marking a 140% increase.
The substantial rise in Huang’s wealth is attributed to a nearly 16% uptick in Nvidia’s stock price over the past four days. The company’s stock has soared by 141% this year, and it has risen approximately eightfold since January 2023, driven by soaring demand for Nvidia’s graphics processors from AI companies.
Nvidia’s market capitalization has surged to about $2.9 trillion, positioning it as the world’s third-largest public company, trailing only Apple and Microsoft. Despite reporting $30 billion in revenue and $17 billion in net income last quarter, Nvidia’s financials have more than doubled year-over-year, reflecting strong future growth prospects.
The broader AI boom has led to significant wealth increases for major tech figures. Alongside Huang, former Microsoft CEOs Bill Gates and Steve Ballmer have each added over $17 billion to their fortunes this year, while Google co-founders Larry Page and Sergey Brin have seen gains exceeding $12 billion each.
