Nvidia CEO Jensen Huang's wealth skyrockets to $90 billion in five years
- Nvidia CEO Jensen Huang's net worth surged from $3 billion to $90 billion in just five years.
- The remarkable increase was driven by a significant rise in Nvidia's stock price and the value of Huang's stake in the company.
- As a result, Jensen Huang is now among the top 20 wealthiest individuals.
Five years ago, Nvidia CEO Jensen Huang owned a stake in his chipmaker worth about $3 billion. Now, after the stock rose to a record high, his holdings are valued at over $90 billion. Huang also gave a positive forecast and told investors that there is a huge demand for their AI graphics processing units. This means that the company believes customers, especially big cloud companies, will make a good profit from investing in these expensive chips. Huang owns around 86.76 million shares of Nvidia, which is more than 3.5% of the company's total shares. With the stock price increasing by over 9% to nearly $1,038 per share, the value of his stake went up by about $7.7 billion. Nvidia shares have more than doubled this year and tripled in 2023. Huang started buying more shares in 2022 when the stock was at low prices before the AI industry grew. Nvidia was founded by Huang in 1993 to create GPUs for 3D gaming. While gaming was their main business for many years, Nvidia has expanded into other areas like cloud gaming, the metaverse, and cryptocurrency mining chips. The technology they developed allows computers to not only find new information but also create new content and answers from large amounts of unsorted data. Many companies, including Microsoft, Google, and Meta, invested in Nvidia's AI chips to develop their models. Nvidia's stock reached an all-time high, making Huang one of the world's Top 20 wealthiest people. The company's semiconductors are crucial for generative AI, and the demand for their graphics processing units is much higher than what they can supply. Nvidia's stock price surged after reporting a significant increase in profits, making it the third most valuable company globally. Nvidia has greatly rewarded long-term shareholders, with shares growing by 21,500% over the last decade. Huang will receive $8.7 million in quarterly dividend payments, showing the company's financial strength. Analysts praise Huang and Nvidia for their success in the AI industry.