Jensen Huang Begins Nvidia Stock Sales... Up to $1.18 Billion by Year-End

Jensen Huang, CEO of Nvidia, has begun his first stock sale as part of a plan to sell up to $865 million (approximately 1.1799 trillion won) worth of shares by the end of the year, Bloomberg reported on the 23rd (local time).

According to documents Huang submitted to the U.S. Securities and Exchange Commission (SEC), he sold 100,000 shares for $14.4 million (about 19.7 billion won) over two trading days, from the 20th to the reporting date.

Previously, in a quarterly report released last month, Huang announced plans to sell up to 6 million shares of Nvidia stock by the end of the year. Based on Nvidia’s closing price of $144.17 on the reporting date, this amounts to $865 million.

This stock sale is being carried out under the SEC’s 10b5-1 plan. According to Bloomberg, this is a trading method commonly used by billionaires and corporate executives to liquidate shares without alarming investors.

Another report submitted to the SEC on the same day indicates that Huang plans to sell an additional 50,000 Nvidia shares soon.

According to the Bloomberg Billionaires Index, Huang is the 12th wealthiest person in the world with an estimated fortune of about $126 billion. Most of his wealth consists of Nvidia shares. The index’s calculations show that he has sold more than $1.9 billion worth of Nvidia stock to date.

Meanwhile, Mark Stevens, a member of Nvidia’s board of directors, has also recently been selling Nvidia shares. According to a separate disclosure on the reporting date, he sold more than 600,000 shares for about $88 million on June 18.

Earlier this month, Stevens submitted a plan to dispose of up to 4 million Nvidia shares and has sold more than 2 million shares so far. However, unlike Huang or other directors, Stevens is not selling his shares under a 10b5-1 plan. According to Bloomberg, Stevens’ net worth is $9.8 billion.