2023-08-27 15:22:36
Nvidia CEO Jensen Huang climbs the ranks of the world’s richest people as the company’s value continues to soar. According to the Bloomberg index, Huang now ranks 29th on the list, climbing nine spots in just two months. His fortune has also grown by $7 billion during this time, primarily due to the surge of Nvidia, where he owns approximately 3.5% of the shares.
Last week, before the publication of Nvidia’s reports, the company’s stock jumped 8%, causing Huang’s private capital to reach a staggering $42 billion. However, after the reports were released and the stock price experienced a slight decline, Huang’s fortune fell by approximately $1 billion, settling at $41.1 billion.
Despite this minor setback, Nvidia’s overall performance remains impressive. Over the past year, the stock has seen a remarkable 221% growth, surpassing industry giants like Meta, Amazon, and Microsoft in terms of annual growth. If this trend continues, Huang is expected to climb to the 25th spot on Bloomberg’s billionaire list, surpassing the French businessman Alain Wertheimer.
Jensen Huang, one of the oldest CEOs in the tech industry, has been leading Nvidia since its inception in 1993. With a bachelor’s degree in electrical engineering from the University of Oregon and a master’s degree from Stanford University, Huang’s leadership has been instrumental in the company’s success.
Nvidia’s recent financial report for the second quarter of 2023 exceeded analysts’ expectations. The company reported revenues of $13.5 billion and earnings per share of $2.7, surpassing early projections. This solid performance further validates Huang’s leadership and contribution to Nvidia’s growth.
Huang is not alone in tying his fortune to the success of his company. Bill Gates, founder of Microsoft, also experienced a surge in his fortune after Microsoft’s financial report emphasized “artificial intelligence.” Mark Zuckerberg, CEO of Meta (formerly Facebook), and Elon Musk, CEO of Tesla, are other examples of CEOs whose fortunes are closely tied to their respective companies’ stock performance.
In conclusion, Jensen Huang’s fortunes continue to rise as Nvidia’s value and stock perform impressively. With his fortune expected to grow further, Huang may soon climb even higher on the list of the world’s richest individuals, cementing his position as a successful and influential figure in the tech industry.
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