Jensen Huang’s rise to prominence on the billionaire list showcases the transformative power of the AI industry and the strategic prowess of Nvidia’s leadership. As Huang continues to innovate and expand Nvidia’s reach, his position as a leading global billionaire is set to solidify further, marking a significant shift in the landscape of wealth and…
Mukesh Ambani, chairman and managing director of Reliance Industries (Photo credit: Reuters)
Jensen Huang, the CEO of Nvidia, has recently surpassed Mukesh Ambani to claim a top spot on Forbes’ real-time billionaire list. With a net worth of USD 119 billion, Huang has seen a staggering rise of 2280% over the past five years. This meteoric ascent highlights the explosive growth of Nvidia, which has solidified its position as the world’s most valuable public company.
The Nvidia Success Story
Huang co-founded Nvidia in 1993 and has served as its CEO and president since inception. Under his leadership, Nvidia’s market capitalization has surged by 177% to an impressive USD 3.33 trillion. This growth is largely attributed to Nvidia’s dominance in the artificial intelligence (AI) sector. The company’s shares experienced a notable increase of over 3% on June 18, further elevating Huang’s net worth by more than USD 4 billion.
Since its initial public offering (IPO) in 1999, Nvidia has transformed from a specialist in graphics processing units (GPUs) into a global powerhouse in AI, data centers, and self-driving cars. The company’s recent stock split, which saw the share price fall from above USD 1200 to below USD 130, has made its stock more accessible to investors, thus boosting its market value.
A Leap in the Billionaire Rankings
As of early 2024, Forbes estimated Huang’s net worth at USD 77 billion. However, the recent surge in Nvidia’s market cap has propelled him up the rankings. Huang now sits just behind Steve Ballmer, the former CEO of Microsoft, and has overtaken Indian business magnate Mukesh Ambani. His extraordinary rise reflects the rapid expansion and influence of Nvidia in the tech industry.
Upcoming Changes and Asset Management
Huang has announced plans to sell a portion of his Nvidia shares, with a recent securities filing revealing his intention to divest 600,000 shares before March 2025. This move represents a small fraction of the 3% stake he holds in the company. Back in 2019, Huang was ranked 546th on the global wealth list with an estimated worth of USD 5 billion. His remarkable progress, with a jump to the 76th position last year, underscores the profound impact of the AI revolution on his wealth.
Comparisons with Other Indian Billionaires
While Jensen Huang’s wealth has soared, Indian billionaire Gautam Adani, with a net worth of USD 104 billion, is ranked 15th on the list. Adani’s net worth has grown by USD 19.6 billion this year alone, highlighting the competitive landscape of global wealth rankings.
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