Meet Asian man who overtook Mukesh Ambani in richest person’s list, not Gautam Adani, Ratan Tata, he is…

Jensen Huang the CEO of Nvidia has reached a net worth of USD 119 billion and has climbed to 11th place in Forbes’ real-time billionaire list. This rise of 2280% over the past five years shows the exponential growth of Nvidia which is now the world’s most valuable public company. Huang who co-founded Nvidia in 1993 and has been its chief executive and president since its founding has seen his firm’s market capitalization increase by 177% to USD 3.33 trillion in recent times.

This growth has been occasioned by Nvidia’s position as the market leader in the AI sector; its shares went up by more than 3% on June 18, boosting Huang’s net worth by over 4 billion dollars. Since its IPO in 1999, Nvidia has transitioned from a market specialist in graphic processing unit (GPU) to an industry titan of artificial intelligence, data centres, and self-driving cars.

The company’s recent stock split which saw the price per share fall from above 1200 dollars to below 130 dollars has made the company’s shares more affordable to more people and thus boosting its market value.

Forbes estimated that Huang’s net worth was at USD 77 billion as of the start of 2024. However, the increase in market capitalisation has seen his ranking go up after Nvidia’s market cap soared. He now stands right next to the ex-CEO of Microsoft, Steve Ballmer and has outranked the Indian business tycoon Mukesh Ambani in the Forbes list. He is planning to sell a part of his assets.

In the recent securities filing, he revealed that he intends to dispose of 600,000 shares of Nvidia before March 2025. This is a big step but it is only a small portion of the 3% share that he owns in the company. According to Forbes, in 2019, he was 546th wealthiest person in the world with an estimated worth of USD 5 billion.

Last year he ranked as the 76th richest man in the world with his net worth increasing by 114 billion dollars over the past five years. This meteoric rise shows how the AI revolution is changing the tech industry and the part that Nvidia is playing in this revolution. Anotger Indian billionaire Gautam Adani, with $104 billion, is 15th on the list. His net worth rose by $19.6 billion this year.