Nvidia’s rise to become the world’s most publicly valuable company has not only positioned it as a transformative leader in the AI industry but has also significantly boosted the net worth of its CEO Jensen Huang.
Reports reveal that Huang’s net worth soared to $119 billion as Nvidia shares traded up more than 3% to $135.70, positioning him as the 11th richest person in the world ahead of India’s richest person Mukesh Ambani.
Huang who owns a 3% stake in Nvidia started the year with a net worth of $77 billion, according the Forbes, before the company’s market cap increased by 177% to $3.33 trillion.
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Huang’s rise in the Forbes list has been one that is nothing but spectacular. In 2019, he was estimated to be the 546th richest person in the world. Last year he was worth $21 billion, ranking him as the world’s 76th richest person.
Notably, he owns a 3% stake in Nvidia, translating to over 934 million shares as of June 2024. This substantial ownership makes him the company’s largest individual stockholder. Huang’s net worth is largely tied to his shares in Nvidia, which have seen a tremendous increase in value due to the company’s impressive performance in the stock market.
Huang’s Background Story And The Founding of Nvidia
Jensen Hang’s professional journey started at AMD, where he worked on microprocessor design. This experience laid the groundwork for his future in the tech industry. Although his tenure at the company was brief, however, it was pivotal in shaping his technical expertise and understanding of the semiconductor market.
In the early 1990s, the personal computer (PC) industry was rapidly growing, and there was a burgeoning demand for better graphics capabilities, particularly for gaming and professional applications.
Huang, along with Malachowsky and Prim, recognized the potential for specialized graphics processing units (GPs) to enhance computing power and graphical performance. They saw an opportunity to create a company focused on this emerging market, this spurred the founding of Nvidia in 1993.
Nvidia’s big breakthrough came with the development of the RIVA 128, launched in 1997. It was one of the first graphics cards to combine 2D and 3D graphics in a single chip, providing high performance at a competitive price. The RIVA 128 was a commercial success and established Nvidia as a key player in the graphics industry.
Following the RIVA 128, Nvidia released a series of successful products, including the TNT and GeForce series, which further solidified its position in the market. In 1999, Nvidia went public with an initial public offering (IPO) on NASDAQ. This provided the company with the capital to expand its research and development efforts and continue its growth trajectory.
Huang who co-founded Nvidia in 1993, has reportedly been the driving force behind the company’s strategic growth and innovation. Under his leadership, Nvidia has transitioned from a graphics card manufacturer to a leader in Al and high-performance computing.
His vision and strategic decisions have been crucial in positioning Nvidia at the forefront of technological advancements. Under his leadership, Nvidia has laid out an ambitious plan to upgrade its Al accelerators annually. Huang’s belief in the potential of Al has driven the company to develop advanced hardware and software solutions that are now integral to Al’s development.
His remarkable journey from a Taiwanese immigrant to a tech billionaire, highlights his relentless pursuit for success. As Nvidia continues to thrive, his net worth is poised to surge, possibly earning him a spot among the top five on the Forbes list.