By love-89.com Based on the latest Forbes live rankings, Nvidia CEO Jensen Huang has made his debut among the world’s top ten billionaires as of October 21. The report highlights Huang’s journey from working in restaurants and serving dishes to becoming a prominent figure in the surge of generative AI that defines the 2020s.
As of the market close on October 21, Huang’s net worth rose by $3.6 billion to reach $124.1 billion, surpassing former Microsoft CEO Steve Ballmer, who has a net worth of $122.5 billion. This exchange in rankings positions Huang at number ten, while Ballmer drops to eleventh place.
According to Forbes’ billionaire list published in September 2022, Huang’s net worth was reported at $20.6 billion. Compared to the latest figures, his wealth has surged fivefold in just two years.
On October 21, Nvidia’s stock hit an all-time high, pushing the company’s market value to over $3.5 trillion. Huang holds approximately 3.5% of Nvidia’s shares, valued at around $122.2 billion, which constitutes the bulk of his fortune.
Since founding Nvidia in 1993, Huang has remained the company’s largest individual shareholder. Even after selling Nvidia stock worth $713 million this summer, he retains significant ownership. The Nvidia board features three members whose ties to the company date back to the early 1990s: Tench Coxe, Harvey Jones, and Mark Stevens, all of whom are now billionaires.
Nvidia is recognized as a leader in designing customized AI technology. Major tech giants like Amazon, Google, Meta, Microsoft, and Tesla rely on Nvidia’s technology to develop advanced AI applications. A recent study by Bank of America indicates that Nvidia commands about 80% of the rapidly growing AI accelerator market.