Net worth reaches 124 billion, Huang Renxun ranks among the world’s top 10 richest people for the first time_2

According to Forbes’ real-time billionaire rankings, Jensen Huang, CEO of Nvidia, has made his debut in the top ten global wealthiest individuals as of October 21. The report notes that Huang, who once worked in a restaurant washing dishes, has become a household name during the generative AI boom of the 2020s.

As of the market close on October 21, Huang’s net worth surged by $3.6 billion to reach $124.1 billion, surpassing former Microsoft CEO Steve Ballmer, whose wealth stands at $122.5 billion. This shift has placed Huang in the top ten, while Ballmer has fallen to the eleventh spot.

In contrast to Forbes’ September 2022 billionaire list, which reported Huang’s net worth at $20.6 billion, this latest data shows his wealth has quintupled in just two years.

Nvidia’s stock price hit a record high on October 21, pushing its market capitalization above $3.5 trillion. Huang holds approximately 3.5% of Nvidia shares, valued at around $122.2 billion, which constitutes the majority of his wealth.

Since founding Nvidia in 1993, Huang has remained the largest individual shareholder in the company. Even after selling Nvidia shares worth $713 million this summer, he continues to hold substantial ownership. Currently, the Nvidia board includes three members—Tench Coxe, Harvey Jones, and Mark Stevens—who have connections to the company dating back to the early 1990s, all of whom have also attained billionaire status.

Nvidia is recognized as a leader in designing customized AI technologies, with major tech giants such as Amazon, Google, Meta, Microsoft, and Tesla relying on Nvidia’s tools for their advanced AI applications. According to a recent Bank of America study, Nvidia commands approximately 80% of the rapidly growing AI accelerator market.