Net worth reaches 124 billion, Huang Renxun ranks among the world’s top 10 richest people for the first time_1

On October 21, Nvidia CEO Jensen Huang made headlines by breaking into the ranks of the world’s top ten billionaires for the first time, according to Forbes’ real-time billionaire tracker. Once a dishwasher in a restaurant, Huang has emerged as a prominent figure in the generative AI wave of the 2020s.

By the close of the U.S. stock market on the 21st, Huang’s net worth surged by $3.6 billion, reaching $124.1 billion. This surpassed the wealth of former Microsoft CEO Steve Ballmer, who stands at $122.5 billion, resulting in a swap in their rankings—Huang now occupies the 10th position while Ballmer falls to 11th.

In September 2022, Huang’s net worth was reported at $20.6 billion on Forbes’ list of the 400 wealthiest individuals. Compared to the latest figures, his wealth has quintupled in just two years.

Nvidia’s stock hit an all-time high on the 21st, pushing its market capitalization above $3.5 trillion. Huang holds approximately 3.5% of Nvidia’s shares, valued at $122.2 billion, making up the bulk of his fortune.

Since founding Nvidia in 1993, Huang has remained the largest individual shareholder. Even following his sale of $713 million worth of Nvidia stock this past summer, his stake in the company remains significant. Three members of Nvidia’s board, Tench Coxe, Harvey Jones, and Mark Stevens, have ties to the company dating back to the early 1990s and have themselves become billionaires.

Nvidia stands as a leader in designing customized AI technologies, essential for tech giants like Amazon, Google, Meta, Microsoft, and Tesla in developing high-end AI applications. According to a recent Bank of America study, Nvidia commands about 80% of the rapidly growing AI accelerator market.