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Nvidia's 5-year success boosted Jensen Huang's fortune from $3 billion to $90 billion

Nvidia's 5-year success boosted Jensen Huang's fortune from $3 billion to $90 billion
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Five years ago, Nvidia CEO Jensen Huang owned a stake in his company worth approximately $3 billion. However, thanks to successful business development and record growth in stock this week, his capital now exceeds $90 billion.

Nvidia announced its financial results for the first quarter of this year. Profit exceeded estimates, and sales grew by over 200% for the third consecutive quarter due to demand for processors for artificial intelligence tasks. Huang also presented a better-than-expected forecast and told investors that the company sees insatiable demand for its AI GPUs.

Such great news pushed Nvidia's stock price on the market. If as of May 22, one share was valued at around $950, by Friday the trading closed at $1064.69. In 5 days, the stock price rose by 126.86 (+13.53%).

Jensen Huang owns approximately 86.76 million Nvidia shares, or over 3.5% of the company's shares. Thanks to this appreciation of the shares, the value of his stake increased by about $11 billion over 5 days. The total value of his stake in shares now exceeds $92.3 billion.

Overall, only this year, Nvidia's shares have more than doubled after tripling in 2023. Over the past 5 years, they have grown by about 28 times. Huang added shares to his stake in 2022 when their value reached a relative minimum before the AI boom.

Currently, Nvidia owns about 80% of the AI chip market, and Huang is among the 20 richest people in the world.

Source: cnbc

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