Amid Nvidia's Surge... Jensen Huang Rises to 17th Richest in the World

The stock price of Nvidia, the leading company in artificial intelligence (AI), surpassed $1,000 for the first time ever, causing CEO Jensen Huang's wealth to surge. Huang surpassed all three children of Walmart's founder to rank 17th on the global billionaire list.

Bloomberg reported on the 24th, citing the Bloomberg Billionaires Index, that CEO Huang's total net worth reached $91.3 billion, ranking 17th overall. This is a jump of three places from 20th with a net worth of $83.6 billion recorded the previous day.

This reflects the stock rally following Nvidia's better-than-expected Q1 (February-April) earnings announcement. On the 23rd (local time), Nvidia's stock closed at $1,037.99, up 9.32% from the previous session on the New York Stock Exchange, marking the first time it crossed the 'Thousand Nvidia' milestone based on closing price.

Huang's assets, mostly composed of Nvidia shares, were outside the top 100 until early last year before the Nvidia-driven AI rally fully took off. Nvidia's stock price has surged more than 110% just this year.

Bloomberg stated, "Huang's wealth has surpassed the personal assets of the Walton founding family," adding, "This is the result of Nvidia's stock soaring on strong sales forecasts, reinforcing the company's status as the biggest beneficiary of AI."

As a result, the Walton family's asset rankings, including Jim Walton ($86.5 billion), Rob Walton ($84.6 billion), and Alice Walton ($83.8 billion), who were ahead of CEO Huang until the previous day, have fallen behind. However, Bloomberg added that the total assets of the Walton family, founders of Walmart, amount to $300 billion, making them the second wealthiest family in the world.