Nvidia stock surge puts CEO Jensen Huang on cusp of cracking world’s 20 richest
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Mr Jensen Huang’s wealth jumped US$9.6 billion (S$12.9 billion) to US$69.2 billion on Feb 22.
PHOTO: REUTERS
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New York - Nvidia co-founder and chief executive officer Jensen Huang said artificial intelligence (AI) has hit a “tipping point”, sending the stock to new dizzying heights
The renewed rally has Mr Huang on the verge of his own breakthrough: becoming one of the 20 richest people in the world.
Mr Huang’s wealth jumped US$9.6 billion (S$12.9 billion) to US$69.2 billion on Feb 22, a gain that leapfrogged him ahead of Mr Charles Koch of Koch Industries and Chinese bottled-water tycoon Zhong Shanshan to 21st place on the Bloomberg Billionaires Index.
It is a remarkable rise for the co-founder of the semiconductor company, who was ranked 128th with a net worth of US$13.5 billion as recently as early 2023.
Nvidia surged 16 per cent on Feb 22 to a record high, adding about US$277 billion in market value. That was the biggest single-session increase in market history, beating Meta Platforms’ US$197 billion gain earlier in February. The company was able to exceed sky-high investor expectations with a revenue forecast that was more than US$2 billion ahead of analyst expectations.
Nvidia’s rally boosted the fortunes of the 30 billionaires on Bloomberg’s wealth list who attribute at least some of their wealth to AI by a combined US$42.8 billion. Mr Charles Liang, CEO of Supermicro Computer, was the biggest winner on a percentage basis with a 33 per cent jump.
Mr Huang is now just behind Mrs Julia Flesher Koch and members of the Walmart founder family Alice, Rob and Jim Walton on the wealth index. BLOOMBERG
