Nvidia CEO Jensen Huang now world’s 11th richest, surpasses Mukesh Ambani

Nvidia CEO Jensen Huang has become the 11th richest person in the world, with his net worth soaring by over $4 billion to $119 billion, marking his highest position yet on Forbes' real-time billionaire list. This positions him just ahead of India's richest person, Mukesh Ambani, and just behind former Microsoft CEO Steve Ballmer. This milestone follows Nvidia's rise to become the most valuable public company, driven by an AI boom.

Huang, who holds a 3% stake in Nvidia, saw his net worth at $77 billion at the start of 2024. Nvidia's market cap has since surged by 177% to $3.33 trillion, significantly boosting Huang's wealth.

Over the past five years, his net worth has increased by $114 billion, reaching around $119 billion as Nvidia shares climbed over 3.5% to $136.33 on Nasdaq.

Huang has been Nvidia’s chief executive and president since he co-founded the company in 1993. The company went public in 1999 and has seen a significant rise in its stock value in recent years. Nvidia also executed a stock split that lowered its share price from over $1,200 to below $130. Huang is set to sell 600,000 shares by March 2025, which would net him over $81.4 million at the current share price.

Nvidia Corporation has become the world's most valuable company, overtaking giants like Microsoft and Apple, driven by soaring demand for its chips from top tech firms.

Recently, it was reported that Tata Communications and U.S. chip giant Nvidia are set to launch their AI Cloud by the end of this financial year, aiming to attract customers from international markets in addition to their core domestic audience. During a recent earnings call, Tata Communications' managing director and CEO, AS Lakshminarayanan, highlighted the strong partnership developing between the two companies.

In September, Nvidia unveiled a significant partnership with Tata Group to provide AI computing infrastructure and platforms for creating AI solutions. While announcing the partnership, Huang said, “Data centers worldwide are shifting to GPU computing to build energy-efficient infrastructure to support the exponential demand for generative AI.”

In the first quarter of FY25, Nvidia reported revenue of $26 billion, marking an 18% increase from the previous quarter and a 262% rise year-over-year (YoY). GAAP earnings per diluted share for the quarter were $5.98, reflecting a 21% quarter-over-quarter (QoQ) increase and a 629% YoY surge. Non-GAAP earnings per diluted share were $6.12, up 19% from the previous quarter and 461% from the same period last year.

Recently Huang in Taipei said, “We’re at the cusp of a major shift in computing. The intersection of AI and accelerated computing is set to redefine the future.”