Nvidia’s Huang Loses $10 Billion in His Biggest Wealth Wipeout

Fortune tumbled after rout in chip stocks led by his firm
Nvidia also got DOJ subpoenas in probe: Bloomberg report

WATCH: Ray Wang of Constellation Research shares his views on the Justice Department’s decision to send subpoenas to Nvidia and other companies.Source: Bloomberg

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By Filipe Pacheco

September 4, 2024 at 5:36 AM UTC

This article is for subscribers only.

Nvidia Corp. Chief Executive Officer Jensen Huang’s wealth tumbled the most ever after a rout in chip stocks and a report that the US Justice Department sent the tech firm subpoenas as part of an escalating antitrust probe.

Huang’s net worth slumped about $10 billion to $94.9 billion on Tuesday, the biggest single-day dollar drop for him since the Bloomberg Billionaires Index began tracking his wealth in 2016. The plunge followed a 9.5% drop in the shares of the chipmaker he co-founded. A spokesperson for Nvidia declined to comment.