Nvidia CEO Jensen Huang’s Net Worth Reaches $142 Billion, As Company Market Cap Sets Record

Nvidia (NASDAQ: NVDA) is the first company in history to hit a market cap of $4 trillion. The increase took the net worth of CEO Jensen Huang to $142 billion. That makes him the 10th richest person in the world behind Berkshire Hathaway’s (NYSE: BRK-B) Warren Buffett whose net worth is $144 billion. An investment of $1,000 in the stock a decade ago would be worth $288,000 a day. Huang owns 3.5% of Nvidia. Key Points Nvidia’s Market Cap Set Record At $4 Trillion Huang Owns 3.5% Of Shares Take this quiz to see if you’re on track to retire. (sponsored) The increase is almost entirely due to the rise of the value of AI driven companies. Nvidia is by far the largest provider of chips to the sector. Nvidia stock trades near $164. In early April, shares traded at $92. Shares stumbled four months ago after Huang said, “the $50 billion China market is effectively closed to U.S. industry.” His reference was to artificial intelligence (AI) chips, a business Nvidia dominates. CNBC points out that this challenge will not hurt the company as badly as first expected. In fact, Nvidia expert Loop Capital said its market cap is headed toward $6 trillion because of its dominant position in the sector. Another reason Nvidia faltered was concern that AI adoption had slowed. Earnings reports from tech giants like Microsoft (NASDAQ: MSFT) raised that issue. However, Nvidia’s largest customers continue to put hundreds of billions of dollars into AI data centers, which are at the heart of the industry. Nvidia’s market share of add-in-board GPUs was 92% in the first quarter. A primary reason for the rally is Nvidia’s earnings. In its report, it offered a rosy picture of its near-term future. In the most recent quarter, revenue rose 69% year over year to $44.1 billion. Per-share earnings rose 27% to $0.76. The company added, “Excluding the $4.5 billion charge and related tax impact, first quarter non-GAAP diluted earnings per share would have been $0.96.” In the current quarter, the company expects revenue of $45 billion, plus or minus 2%. Its extraordinary revenue growth continues. According to Yahoo, the analysts’ forecast is slightly higher than that. The AI revolution has not slowed, and Nvidia’s market cap is a sign of that. And Huang’s net worth has gone along for the ride. The post Nvidia CEO Jensen Huang’s Net Worth Reaches $142 Billion, As Company Market Cap Sets Record appeared first on 24/7 Wall St..