With the surge of generative artificial intelligence (AI), Nvidia's stock price has soared, increasing CEO Jensen Huang's net worth by 37 trillion won this year.
According to the Bloomberg Billionaires Index on the 24th (local time), Jensen Huang's net worth stood at $42.2 billion (approximately 56 trillion won) based on the closing price that day. Nvidia's stock price surged 222% this year as of the closing price on that day, boosting his net worth by $28.4 billion (about 37.63 trillion won) this year alone. His assets more than doubled compared to the roughly $13.8 billion at the beginning of the year. His global billionaire ranking also jumped to 28th place in one leap.
On the day Nvidia announced second-quarter earnings that exceeded expectations, its stock price rose 10% in after-hours trading, increasing Jensen Huang's net worth by $4.2 billion (about 5.57 trillion won) overnight.
Like other tech billionaires, Jensen Huang's wealth is largely tied to his stock holdings. He owns 3.5% of Nvidia. Nvidia's market capitalization reached $1.165 trillion (approximately 1,544 trillion won) based on the closing price that day.
After the market closed that day, Nvidia reported second-quarter revenue of $13.51 billion, a 101% increase year-over-year, significantly surpassing market expectations of $11.22 billion. Earnings per share rose 429% year-over-year to $2.70. Nvidia's performance was driven by demand for generative AI semiconductors, such as those used in ChatGPT.
In the earnings press release, Jensen Huang said, "A new era of computing has begun. The industry is simultaneously undergoing two platform shifts: accelerated computing and generative AI."
Jensen Huang earned a bachelor's degree in electrical engineering from Oregon State University in 1984 and a master's degree in electrical engineering from Stanford University in 1992. After graduating, he worked as an engineer at LSI Logic and AMD, and co-founded Nvidia in 1993.
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