Nvidia CEO Jensen Huang Loses $7.4 Billion As Shares Slide

Nvidia CEO Jensen Huang’s net worth plunged by $7.4 billion within the first 30 minutes of trading on November 9, following a sharp decline in the company’s share price.

According to Forbes, Huang’s estimated fortune fell to $154.7 billion, pushing him from eighth to 10th place on its real-time billionaires ranking. Nvidia shares dropped 4.3 per cent, wiping nearly $190 billion off the company’s market capitalisation.

The sell-off followed reports of a possible foreign intelligence operation involving Alice Huang, a former executive at Singapore-based Megaspeed International, an Nvidia customer. US authorities had reportedly investigated allegations that she was a Chinese intelligence asset.

The controversy also intensified after Huang admitted to being unfaithful to his wife, Lori Huang, and apologised to his family in a message to employees.

Nvidia’s board has ordered an independent investigation into the reported intelligence operation. However, the company said it had no reason to believe that its confidential information or US national security had been compromised and expressed confidence in Huang’s leadership.