Jensen Huang to Become the 13th Richest Person in the World

Jensen Huang, Nvidia’s co-founder, president, and CEO, has surged to the position of the 13th richest person in the world with a fortune of USD 106 billion (Rs.8.84 lakh crore), following an extraordinary 700% increase in Nvidia’s share price over the past year.

Remarkable Financial Ascent by Jensen Huang:

Huang’s net worth has dramatically increased by approximately $93 billion USD (Rs.7.75 lakh crore) in less than 18 months.

This financial leap is attributed to Nvidia’s stock price skyrocketing from below $150 to over $1,200, as reported by Business Insider.

At the beginning of last year, Huang’s 3.5% stake in Nvidia was valued at less than $14 billion USD (Rs.1.16 lakh crore). Nvidia’s market capitalization has since surpassed $3 trillion USD (Rs.250 lakh crore), making it the world’s second-largest public company, trailing only Microsoft.

Jensen Huang Talks about the Impact of AI on Nvidia’s Growth:

The booming AI industry drives Nvidia’s rapid growth. Investors believe AI is set to revolutionize the world, and Nvidia is poised to play a pivotal role.

Companies like Microsoft, Tesla, and Meta are purchasing Nvidia’s graphics processors in large quantities to develop AI-powered technologies, including chatbots, recommendation systems, self-driving cars, and humanoid robots.

According to the Bloomberg Billionaires Index, only Michael Dell (with $107 billion USD or Rs.8.92 lakh crore), Mukesh Ambani (with $109 billion USD or Rs.9.09 lakh crore), and Warren Buffett (with $136 billion USD or Rs.11.34 lakh crore) currently outrank Huang, who is on the brink of breaking into the top 10 wealthiest individuals globally.

Historical Background of Nvidia:

Nvidia was founded with $40,000 USD (Rs.33.36 lakh), followed by a significant investment of $20 million USD (Rs.166 crore) from Sequoia Capital and other investors.

Initially unnamed, the founders used the designation ‘NV’ for “next version” in their company files, eventually deriving the name “Nvidia” from the Latin word “invidia,” meaning envy.

Get all the latest news on Indian daily post