Subscribe to our newsletter and stay informed

Check out our list of top companies

Check out our carefully compiled lists of the most relevant and impactful companies within their fields.

Check out our list of top unicorns

Read and learn about the biggest companies that various countries have produced, how they made it, and what the future looks like for them.

Nvidia CEO's Wealth Soars to $90 Billion

Five years ago, Nvidia CEO Huang was valued at around $3 billion, fast forward to today, skyrocketed to over $90 billion
May 27, 2024

Jensen Huang, CEO of Nvidia, has seen his personal stake in the company soar from $3 billion five years ago to over $90 billion after a remarkable surge in the stock price on Thursday. This impressive rise was propelled by Nvidia's first-quarter earnings report, which exceeded expectations and highlighted a sales jump of more than 200% for the third consecutive quarter. The driving force behind this surge is the skyrocketing demand for artificial intelligence (AI) processors.

Huang presented an optimistic forecast, emphasizing the growing appetite for Nvidia's AI graphics processing units (GPUs). He assured investors that the company's high-priced chips promise substantial returns, especially for major cloud service providers. "We are fundamentally changing how computing works and what computers can do," Huang stated.

Huang owns approximately 86.76 million shares, representing over 3.5% of Nvidia’s outstanding shares. With the stock's 9% rise to nearly $1,038 per share on Thursday, his stake increased by about $7.7 billion. Nvidia's shares have more than doubled this year, continuing a trend after tripling in 2023, and have seen a 28-fold increase over the past five years. Huang had strategically added to his stake in 2022 during relative stock lows, right before the AI boom.

Founded in 1993 by Huang in Silicon Valley, Nvidia initially focused on creating GPUs for 3D gaming. While gaming remained its primary market for decades, Nvidia ventured into cloud gaming subscriptions, the metaverse, and cryptocurrency mining chips. However, the company's trajectory shifted significantly in late 2022 with the release of OpenAI’s ChatGPT, which popularized generative AI and demonstrated its potential to generate new content and answers from large datasets.

OpenAI’s development predominantly relies on Nvidia GPUs. As tech giants like Microsoft, Google, and Meta ramped up their AI research and development, they invested billions in the latest AI chips to support their models. Huang, Nvidia’s prominent spokesperson, has been a vocal advocate of the transformative power of their GPUs in AI development.

With over a decade of AI software and tool development, Nvidia has positioned itself as the leading supplier for top tech companies, commanding about 80% of the AI chip market. This strategic advantage has not only cemented Nvidia’s market dominance but also propelled Huang into the ranks of the 20 richest individuals globally.

Nvidia’s strategic foresight and innovative prowess have revolutionized the computing landscape, positioning the company at the forefront of the AI revolution and dramatically enhancing Huang's wealth and influence in the tech industry.

More about:  |

Last related articles

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram