Jensen Huang's $10 Billion Wealth Drop

Jensen Huang, CEO of Nvidia, experienced a staggering decline in his net worth by nearly $10 billion, dropping to approximately $94.9 billion, after a 9.5% fall in Nvidia's stock price amid a broader sell-off in tech shares. This marks Huang's largest single-day financial loss since the Bloomberg Billionaires Index began tracking his wealth in 2016, pushing him down from 14th to 18th on the global rich list. The stock plunge followed revelations that the U.S. Department of Justice has issued subpoenas to Nvidia as part of an escalating antitrust investigation, focusing on allegations that the company is stifling competition by making it harder for customers to switch suppliers. Despite this setback, Huang's fortune has increased by approximately $51 billion this year, fueled by Nvidia's stock rising over 118% since the start of 2023 due to the AI boom. The DOJ's scrutiny also includes concerns regarding Nvidia's recent $700 million acquisition of AI management firm RunAI, which may further entrench the company's market dominance. As Nvidia remains a key supplier in the AI chip market, this investigation could have significant implications for its future operations.