Stock Rout Costs CEO $20B in One Day

Net worth of Nvidia's Jensen Huang fell by 20% thanks to China's DeepSeek
By John Johnson,  Newser Staff
Posted Jan 28, 2025 7:11 AM CST
Nvidia's CEO Lost $20B in One Day
Jensen Huang, founder and CEO of Nvidia, speaks to the media in Hong Kong in November 2024.   (AP Photo/Chan Long Hei)

Monday's market rout of chip-maker Nvidia cost its CEO a pretty penny: Jensen Huang lost about $20 billion, or 20% of his net worth, reports Bloomberg. The company's shares plunged 17% thanks to the stunning success of Chinese startup DeepSeek in the world of artificial intelligence, and pretty much the entire tech market slumped. Oracle chairman Larry Ellison actually lost more money than Huang, $22.6 billion, though it represented a smaller percentage (12%) of his overall fortune.

Ellison fell from third to fifth on the world's-richest list, according to Forbes. All told, the planet's richest 500 people lost a combined $108 billion on Monday. That includes Dell CEO Michael Dell ($12.4 billion), Google co-founders Larry Page ($6.3 billion) and Sergey Brin ($5.9 billion), and Tesla CEO Elon Musk ($5.3 billion). Nvidia and the broader tech market looked poised to recoup at least some of Monday's losses at the opening bell, notes CNBC. Nvidia futures were up about 2%. (More Nvidia stories.)

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