The DeepSeek boom, with the resulting stock market crash for NVIDIA, has also had a devastating impact on the personal wealth of the Santa Clara company’s CEO, Jensen Huang.
The decline in NVIDIA shares, which lost nearly $600 billion in one day, has also had a devastating impact on the personal wealth of the American company’s CEO. As reported by the Bloomberg Billionaires Index. Huang’s net worth fell from $121 billion to about $100 billion on Monday’s black day for NVIDIA stock.
The shares, in fact, fell by almost 17% at the close of the market on Monday. With a capitalization loss of about 600 billion dollars. Due to fears linked to the explosion of the new low-cost R1 AI model.
Huang wasn’t the only tech billionaire whose net worth dropped, with Oracle co-founder and CTO Larry Ellison losing $22.6 billion, or 12% of his net worth. While Michael Dell burned through $13 billion. Binance co-founder Changpen Zhao lost about $12 billion, or 20% of his net worth.
Bloomberg notes that the world’s 500 richest people have lost a total of $108 billion as of January 27, 2025. Due to their investments in artificial intelligence.https://youtu.be/ginIpeb2L0I?si=khAx924jurXjT-Uw