Billionaire Jensen Huang’s wealth has tripled to $44 billion

Jensen Huang, the CEO of Nvidia, has experienced a significant increase in his wealth as a result of the company’s impressive stock rally. Nvidia is currently one of the most sought-after tech companies, with businesses worldwide eager to purchase Nvidia’s H100 “Hopper” GPUs, which are crucial for developing and training AI models.

The sudden demand for Hoppers has elevated Huang’s unique communication style, which includes sending employees emails that resemble the Japanese poetry style haikus or ransom notes, making him one of tech’s most influential voices almost overnight. His wealth has tripled this year to $44 billion, making him one of the top moneymakers of 2023.

The co-founder of microchip giant Nvidia has seen a significant increase in his net worth, with a rise of $30.2 billion since the start of January 2023. This rise is largely due to the 240% increase in the company’s stock, which has increased the value of his almost 87 million shares, representing a 3.5% ownership stake, to approximately $43 billion.

Over a decade ago, Mr. Huang realized that the graphical processing units his company produced were also ideal for training AI models. He took steps to prepare Nvidia for the AI revolution by investing in a proprietary software platform called CUDA, which helps developers make use of its chips, and acquiring Mellanox, a supplier of networking technology that links many chips together to deliver greater processing power. The payoff from these decisions is now evident, as Nvidia controls over 80% of the market for specialist AI chips.

Mr. Huang, who is known for his signature leather jacket, akin to Steve Jobs’ turtlenecks, reportedly shares Jobs’ intensity and exacting standards. Despite this, he is greatly admired by his staff, with a 98% approval rating. All things considered, Mr. Huang has had the best 2023 of all.

2023 was the year powerful people learned Jensen Huang’s name.

Whether he’ll continue to climb the ranks of the world’s wealthiest people in 2024, or see his net worth take a dive, is an open question.

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