Five years ago, Nvidia CEO Jensen Huang owned a share of his company worth approximately $3 billion. However, thanks to the successful development of the business and the record growth of shares this week, his capital is now worth more than $90 billion.
Nvidia announced its financial results for the first quarter of this year. At the same time, profits exceeded estimates, and sales grew by more than 200% for the third consecutive quarter, driven by demand for processors for processing artificial intelligence tasks. Huang also presented a better-than-expected outlook and told investors that the company sees insatiable demand for its AI GPUs.
Such great news pushed up the value of Nvidia shares on the stock exchange. As of May 22, one share was worth about $950, but on Friday, trading closed at $1064.69. In 5 days, the share price increased by 126.86 (+13.53%).
Jen-Hsun Huang owns approximately 86.76 million shares of Nvidia, or more than 3.5% of the company’s stock. Due to this rise in the price of shares, the value of his stake increased by about $11 billion in 5 days. The total value of his stake is now over $92.3 billion.
Overall, this year alone, Nvidia shares have more than doubled after tripling in 2023. Over the past 5 years, they have grown about 28 times. Huang added the stock to his stake in 2022, when its value reached a relative low before the AI boom.
Now Nvidia owns about 80% of the AI chip market, and Huang is among the 20 richest people in the world.
Source: cnbc