2nd most valuable company in the world, Nvidia's Jensen Huang is now 13th richest person. This is his net worth!
Nvidia's co-founder, president, and CEO, Jensen Huang, has ascended to become the 13th wealthiest individual globally, amassing a fortune of $106 billion USD (equivalent to Rs.8.84 lakh crore), following a remarkable surge in Nvidia shares of over 700% compared to the previous year.
To make it to the top 10, he only has to surpass Michael Dell (Rs 8.92 lakh crore net worth), Mukesh Ambani (Rs 9.6 lakh crore net worth) and Warren Buffett (Rs 11.34 lakh crore net worth), as per Bloomberg billionaires index.
Huang has seen humongous growth in the last 18 months
In less than 18 months, Jensen Huang saw his net worth soar by approximately $93 billion USD (approximately Rs. 7.75 lakh crore) as Nvidia stock surged from under $150 to over $1,200, marking an astounding increase of over 700%, as reported by Business Insider.
At the beginning of last year, the CEO's 3.5% stake in his company was valued at under $14 billion (approximately Rs. 1.16 lakh crore).?
Nvidia is now world¡¯s second most valuable company behind only Microsoft
With the chipmaker's market capitalization now surpassing $3 trillion (approximately Rs. 250 lakh crore), it has overtaken Apple to become the world's second-largest public company after Microsoft.
Investors are bullish on Nvidia due to their conviction that AI is reshaping the world. Nvidia is anticipated to play a pivotal role in driving this transformation, with notable companies like Microsoft, Tesla, and Meta purchasing Nvidia's graphics processors extensively. These investments are aimed at developing a wide array of AI-driven applications, ranging from chatbots and recommendation systems to autonomous vehicles and humanoid robots.
Also Read:?'Listen More, Talk Less', 5 lessons from Satya Nadella as he clocks 10 years as Microsoft CEO
Nvidia now boasts a market capitalization of $3.019 trillion, surpassing Apple's valuation of $2.99 trillion. Microsoft maintains its position as the most valuable publicly traded company, with a market cap of $3.15 trillion.
Microsoft's rise to the top of the market is notable, overtaking Apple after the latter became the first company to achieve market capitalizations of $1 trillion and $2 trillion. Microsoft's surge has been driven by investor interest in AI infrastructure.
About Nvidia
Nvidia was established with an initial investment of $40,000 (Rs.33.36 lakh) in 1991, later receiving an infusion of $20 million (Rs.166 crore) from investors like Sequoia Capital.?
Nvidia initially focused on the gaming sector, providing hardware for playing 3D computer games. In more recent times, it diversified its offerings to include cryptocurrency mining chips and cloud subscription services.
Originally lacking a name, the founders designated company files with 'NV,' signifying "next version," and eventually settled on "Nvidia" from the Latin word "invidia," meaning envy, as reported by News 18.
